If someone was looking for the right property in the Munich district and hoped that the pandemic would cause somewhat more moderate prices, they will also be greatly mistaken in the second Corona year. The latest market report by the Immobilienverband Deutschland (IVD) shows that nothing has changed in the ongoing upward trend. The demand for houses and apartments in the Munich suburbs is unbroken, so buyers and tenants have to dig deep into their pockets if they want to move into one of the 29 cities and municipalities around the state capital. The semi-detached house, even in the existing stock, is almost nowhere more under a million euros. Provided that those willing to buy find what they are looking for. Because everywhere there are more interested parties than offers.
It should be family-friendly, the new condominium, or better still the terraced house or the semi-detached house. Terrace and garden are also on the wish list of those who move to the Munich area. If that is not available, then at least a balcony. Enough space to work in your own home office in your own study has become an additional important criterion during the Corona crisis. A parking space or garage are also of great importance.
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In extremely sought-after residential areas such as Graefelfing, Grünwald and Oberhaching, you have needed a big bank account for this for many years, the prices are sometimes higher than in the city of Munich. How to pay for the new semi-detached house in Graefelfing now 1.7 million euros, more than 150,000 more than a year ago. If you only want to rent it, you have to have 3900 euros a month just for living. According to the IVD, densification will be largely prevented for the foreseeable future by tight development plans. The municipality wants to preserve the character of a garden city with its own homes and above-average greenery.
In Grünwald the price level is similarly high, although there is not even a S-Bahn running. Semi-detached houses are given here with 1.94 million euros, new mid-terrace houses with 1.46 million; here, too, one is above the Munich values. However, the supply of such houses in the rich Isar community is very limited. The IVD describes the development plans as “obsolete”, as they prescribe much too large and maintenance-intensive properties for today’s conditions. Even for “solvent and discerning buyers”, the properties are often in the financial limit range due to the price level that has risen significantly in recent years. As an investment, they are largely out of the question due to poor return expectations.
It has also become an attractive place to live for the well-heeled for several years Oberhaching developed. In addition to economic strength and a good transport and social infrastructure, the IVD also sees the attractive scenic location with a high recreational and leisure value as the reason that 88 percent of the Munich price level is reached. In individual segments, the community in the southern Hachinger Valley is even higher than what is paid in the state capital. For a new semi-detached house, the buyer now has to make 1.76 million euros. A detached house is two million and even an existing row house exceeded the million mark in the past year.
It is still considered an expensive plaster Ottobrunn, where prices have also risen again and townhouses – at least when they are new – are only something for millionaires. In addition to a convenient location and proximity to Munich, it is also important that there is a lack of buildable areas and that the growth of the community is therefore very limited. If you refrain from buying a property and are thinking about renting a house, it may well be that you have to transfer more money to the landlord than for a comparable property in the city. A rent of 2550 euros for an old terraced house is already possible if the quality of the living is good.
Other communities that were previously not suspected of having the rich live here are also catching up with real estate prices. Grasbrunn For example, there is increasing demand from young families who cannot find what they are looking for in the urban area and who move to the surrounding area. For detached single-family houses, the price is only 56 percent of the offers in the state capital, but 1.1 million are already being paid for a new semi-detached house. Even those who are ready to move further out, for example to Sauerlach, doesn’t get cheaper. The price for a semi-detached house has also risen by 100,000 euros to 1.4 million euros over the past year. Only the building site should be lower here at 38 percent of the Munich price. However, there are hardly any properties.