20 years ago there were also apartments in Munich for non-top earners: With an average income and a certain optimism, a 100-square-meter home in the Olympic Village could be financed. Prefabricated buildings on the other side of the Mittlerer Ring were not at all en vogue at the time, but on the other hand the Terrassenhaus had a huge balcony and the car noise was only a distant murmur. Such offers have disappeared from broker windows over the years. Instead, mentioning where you live began to draw envious looks. Today, a one-room apartment in the Olympic Village costs 100,000 euros more than triple the area at the time. And for this sum you get a view of the BMW site and a plague of pigeons outside the windows.
The Munich real estate prices of the past 20 years have only known one direction: steeply upwards, a steadily rising straight line. At least this trend seems to have broken: real estate prices are no longer rising. “These events will tend to be curvy,” predicts market researcher Stephan Kippes from the Real Estate Association Germany South (IVD). At a special press conference on Tuesday, he explained which influencing factors on the real estate market have shifted (SZ Plus).
Above all, it is the rising mortgage interest rates that make buying a house or apartment much more expensive. There is also a certain degree of uncertainty due to political and social crises – the war in Ukraine, the shortage of natural gas, Corona. In any case, the IVD has found that it is no longer possible to sell every house at any price. In addition, buyers are increasingly aware of ancillary costs, heating technology and energy issues of all kinds. Stephan Kippes did not want to talk about a price collapse or even a real estate bubble, but price declines are definitely conceivable. And that’s good news for homebuyers – regardless of rising interest rates or high energy costs.
THE DAY IN MUNICH
The city council wants to demolish the Fröttmaninger Showpalast By 2028 at the latest, when the area reverts to the city, the excavators should move in – to build a depot for trams and buses there.
How does a vegan white sausage taste? The innovative veggie product is prepared just like the original. In terms of taste and consistency, it should be in no way inferior to a conventional white sausage – really?
Tax evasion on a large scale – charges against delivery service boss The owner of a pizza delivery service is said to have evaded more than half a million euros in taxes. Now it’s over with the shiny business, the 42-year-old is on trial.
42,000 passengers in Munich affected by flight cancellations Lufthansa canceled 345 starts, almost all of them in Munich. The passengers – including many vacationers – can rebook, but the supply is scarce. How to proceed in the coming days.
Emergency timetable: MVV thins out regional bus services Due to staff shortages, individual routes in the Munich district can no longer be served regularly every 20 minutes for the time being. Which lines are affected.
Train derailed while parking A shunting attendant sees a signal too late – despite emergency braking, an empty train then breaks through a track barrier at the Hacker Bridge. Two cars have to be salvaged.
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