From old to new - current housing market trends in Munich

Bavarian cosiness

Munich is one of the most expensive and hardest housing markets in Germany. The city provides with well-paying jobs and a high quality of life for constantly high numbers of immigrants. However, the construction of affordable housing will be sluggish. The consequences are for years literally exploding property prices and extremely high rent. Many Munich can no longer afford their home and are sold by the high cost of the city. But the demand for rental housing remains.

BayernThe current situation drove on 15. September already up to 10.000 Protesters on the streets. #ausspekuliert under the motto they made to the high rents, speculation, luxury renovations and the housing shortage alert. Several parties and trade unions called for the demonstration and want to promote the creation of new and especially affordable housing.

In other German cities it is with the housing shortage as similar, But Munich is with wide spacing on the first place. The trend in house prices continues to rise. Single people are particularly affected here with a relatively low income. Here up to life 50 Percent of the population in major cities in a single household. In Munich, mainly lack the small apartments to 45 square meters. Here, often even a family of four for cost reasons only share 2 room. Only a small proportion of the apartments up 105 Square is still affordable with an average income.

Buyers do not use the property itself

The Munich paving seem to be able to only afford Rich, as is apparent from a plurality of real estate reports. since 2010 the purchase price is about 60 increased percent. For a simple apartment of 70 m² and space in the garage is fast half a million euros due, as the magazine in Capital current real estate compass released. A condo in the city center costs with only one room often up to 300.000 Euro. So feed primarily tenants in the city, where such rates do not matter and for the money plays a minor role. Brokers, wonder no more, if the potential buyer must complete no more credit contract before the notary. You pay the new home ownership just out of pocket. However surprising the age of the prospective, since many young heirs 30. Age have not yet reached.

Some of homebuyers but do not use the new property itself, but see it as an investment. No wonder, in the trend of appreciation. Old apartments in a need of modernization are thus acquired, renovated and upgraded enormously. Instead of creating affordable housing but, it comes to extremely high rents or even a re-sale at a correspondingly high value. In this case, would be for such a renovation even the A loan be worth. Important here is a contract with earmarking, In order to receive more favorable conditions.

The many old buildings in the center of Munich are thus indeed aufgehübscht, drive the rental price but even more in the air. Finally, a majority of the houses is still occupied. Landlords must provide information on the planned measures to modernize and "the rent expected written notice three months before the start of the latest" in this case, as the Legal experts anwalt.de to confirm.

People it drives to the countryside

Train

The real Munich feel for a long time from their attractive city expelled. Affordable home ownership and somewhat lower rents may be obtained in the suburbs. The result is oscillating workers, the company even from distant counties the way to the Munich area to be. Therefore, the rising rental rates always bring more traffic to downtown. The plan is a rapid expansion of public transportation, such as the Planning Association Munich tells. However, precise objectives and building projects are not yet known.

 

 

picture sources:

pixabay.com - users: flyupmike

pixabay.com - users: Alexas_Fotos

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