Property Prices in Germany

Property Prices in Germany

Germany may be an increasingly popular destination for expats, but is it an affordable option when it comes to buying or renting property?

Whilst Germany might lack the sun and sea of other relocation hot spots, the high quality of life and the range of work opportunities on offer make it an appealing immigration location.

Here we see how current average property prices in Germany compare with the UK and take a look at the average property prices in some of the most popular German regions.

 Comparing the UK and Germany

 

UK

Germany

Rent Per Month (Mean) In British Pounds

1 Bed Apartment in City

600.00

404.94

1 Bed Apartment outside City

500.00

323.95

Buy Apartment Price (Mean) In British Pounds

Price per m2 in City

2,309.89

2,024.70

Price per m2 outside City

2,000.00

1,457.78

Salaries and Financing (Mean) In British Pounds

Median Monthly Disposable Salary (After Tax)

1,600.00

1,716.95

Yearly Mortgage Interest Rate in Percentages

4.50

4.00

 

Although renting property is the norm in Germany it beats the UK in both property rental and purchase price. Monthly disposable income is also marginally higher in Germany. However, location is king and property prices can vary greatly depending on the area of Germany you’re considering. To that end we will now compare property prices in 5 of the most popular German locations: Berlin, Cologne, Frankfurt, Hamburg and Munich.

Before we get down to the figures here are a few quick facts about these locations!

Quick Berlin Facts

Berlin has one of the smallest populations of any major European capital city, with just of 3.5 million residents.

The average summer temperature is 18°C while the average winter temperature is 1.5°C.

The age limit for drinking in Berlin is 16, but the age limit for driving is 18.

Quick Cologne Facts

Cologne is the oldest of Germany’s cities, its history dates back almost 2,000 years.

One of Colognes most famous attractions is the Cathedral of St Peter, which contains 509 steps.

In Cologne the average summer temperature is 18°C. In the winter the average temperature is 4°C.

Quick Frankfurt Facts

The name Frankfurt is usually written as Frankfurt am Main, which translates as Frankfurt on the Main River.

A survey conducted by Mercer Human Resource Consulting found Frankfurt to have the 7th highest quality of living in the world.

The average summer temperature is 19°C while the average winter temperature is 3°C.

Quick Hamburg Facts

The name Hamburg derives from the name of the first building erected in the area, a castle commissioned by the Emperor Charlemagne in 808 AD.

In Hamburg the average summer temperature is 17°C. In the winter the average temperature is 1.5°C.

Hamburg is home to the second largest European port.

Quick Munich Facts

Munich is home to the iconic, beer-focused festival Oktoberfest.

The average summer temperature is 17°C while the average winter temperature is 0°C

Munich is renowned for its spectacular views and looks out on the Alps.

Rent Per Month (Mean) In British Pounds

Berlin

Cologne

Frankfurt

Hamburg

Munich

1 Bed Apartment in Centre

364.45

526.42

566.92

485.93

647.90

1 Bed Apartment outside of Centre

323.93

408.99

344.20

415.06

550.72

3 Bed Apartment in Centre

769.39

890.87

931.36

1,538.77

1,255.31

3 Bed Apartment Outside Centre

504.72

668.15

728.89

668.15

1,012.35

 

Buy Apartment Price (Mean) In British Pounds

Berlin

Cologne

Frankfurt

Hamburg

Munich

Price per m2 to Buy Apartment in City Centre

2,348.65

2,632.11

2,834.58

5,264.22

4,697.31

Price per m2 to Buy Apartment outside City Centre

1,052.84

1,741.24

2,105.69

2,429.64

3,199.03

 

Surprisingly, when it comes to buying or renting property the Germany capital isn’t the most expensive of the regions we looked at.

In fact, Berlin came in as the cheapest option in every category (apart from disposable monthly income where it drew with Cologne) making it the most affordable of these five popular areas of Germany to set up home.

 

Salaries and Financing (Mean) In British Pounds

Berlin

Cologne

Frankfurt

Hamburg

Munich

Median Monthly Disposable Salary (After Tax)

1,619.76

1,619.76

1,862.73

1,842.48

2,024.70

Yearly mortgage Interest Rate in Percentages

4.00

4.00

4.05

3.00

4.12

 

Hamburg and Munich proved to be the priciest places to find German property for rent and purchase.

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