The official figures show that condominiums have become 13 percent cheaper in the last two years. But that is not the case for one part of town, where a square meter of land is worth more than anywhere else in Germany – 170,000 euros.
It is a historic development for Munich that Kristina Frank announced on this day: “For the first time in decades, there was a decline in purchase prices for residential properties in 2023,” said the municipal representative on Monday at a press conference on the annual report “The real estate market in Munich”. Prices in the “resold condominiums” segment have fallen particularly sharply, namely by 13 percent compared to 2022.