MUNICH, October 29, 2014 /PRNewswire/ --
80% of the sales offers for houses in Munich are over 800,000 EUR. For a family home the average is about EUR 1.3 million.
The property prices and square meter prices in Munich are still on the rise, supply numbers and sales figures have been slightly falling in 2013. The offering prices from last year October 2013 through to October 2014 show the following average values: Over 16,000 existing and 6,700 new condos were offered for sale, as well as 5,600 houses and about 800 plots. These were offered by private individuals, property developers and Munich real estate agents (the numerical data may contain double counted objects due to multiple advertisements). On average, prices per square meter for homes are approximately 6,000 EUR and may vary, of course, according to the object. For about 80% of all homes, the offering price was over 800,000 EUR. Looking a little closer at the offerings of pre-owned condominiums, we see that they include 238 condos with garden, 600 maisonettes, 353 penthouses and 344 roof-top apartments. The average asking-price for pre-owned condominiums was 5,500 EUR per square meter (which is not necessarily the selling price). Penthouses and roof-top apartments were 20-30% more expensive; new condominiums were more than 6,600 EUR per square meter on average. Overall, the offering prices rose by 10 - 20% compared to the previous year.
In comparison, here are the actual sales prices: On Munich's property market an actual amount of 13,576 properties, dated from January to December 2013, were sold by property developers, private individuals and Munich estate agents. This represents a decrease of 11% to the preceding year. The neighborhoods with the most real estate sales were Obergiesing/Au and Schwabing. House prices and land prices: A) Apartments/Flats: Depending on the location, the year of construction and the condition of the object, the majority of the pre-owned condominiums averaged around 3,300-5,000 EUR in price per square meter. New buildings were between 5,000 and 8,000 EUR on average (these are benchmark figures, not including luxury objects). A normal condo built between 1960-1979 in a good residential area was sold for 4,150 EUR/m² on average. B) Single-family homes: New homes cost from 5,000 to 7,150 EUR (prices per square meter for Munich), total real estate prices ranged from EUR 600,000 to 1 million EUR, however, these values refer to only 11 evaluated objects. As a rough guide, the value of existing single-family homes range from 5,000 to 6,500 EUR per square meter. The total bandwidth of pre-owned single-family homes however ranged from 4,200 to 7,400 EUR per square meter. A total of about 240 pre-owned single-family homes were sold in 2013 by property developers, private individuals and real estate agents in Munich. C) Semi-detached houses in Munich cost 4,500 - 6,500 EUR per square meter on average, property prices varied by and large in the range of EUR 550,000 to 850,000, -. D) In 2013, corner townhouses were sold in Munich at an average house price of approximately 535,000 to 700,000 EUR, while the square meter prices averaged from 4,400 to 5,300 EUR. e) Mid-terrace town houses in Munich were priced between 430,000 and 555,000 EUR (benchmark figures), the prices per square meter were found in the range of 4,200 - 4,900 EUR.
"There has been an enormous price increase on the real estate market in Munich in recent years and often buyers tell me, that there are just not enough objects on the market in Munich. However, even though last year actually saw less properties being sold, it's a crucial factor, that real estate just gets sold very quickly here. Over the year, the sales figures are still very high", says Rainer Fischer, real estate broker and owner of Fischer Immobilien, with his office at the Rotkreuzplatz in Munich Neuhausen.
List of sources: Evaluation done by the real estate agency Fischer, Munich, property prices and prices per square meter from the statistics program of the IMV Market Data GmbH. Actual sales figures from the annual report 2013 Expert Committee Munich. This report does not replace qualified valuation of an expert or broker from Munich. Also, these are benchmark figures, which can only be used to a limited extent for individual calculations. No liability assumed for the correctness and completeness of the information.
Further information, see http://www.immobilienbesitzer-muenchen.de .
About Rainer Fischer Immobilien: The sole proprietorship has its place of business in Munich at the Rotkreuzplatz since 1995. It specializes in the marketing of residential real estate in the greater Munich area. Since its establishment, over 800 houses, condos and plots were sold to solvent buyers. The brokerage firm also operates with external finance advisors, presenting all offers on seven different Internet platforms and is also breaking new grounds in the marketing of real estate. Telephone contact is ensured 7 days a week.
Rainer Fischer Immobilien
SOURCE Rainer Fischer Immobilien