ImmoScout24 new construction price analysis 2021 for the top 10 cities in Germany

ImmoScout24

Berlin (ot)

The purchase prices of new apartments and houses continue to rise

  • No end in sight: Asking prices for newly built condominiums in German metropolitan areas increased between 3.4 and 19.1 percent in 2021.
  • Prices for new homes in neighboring metropolitan areas also developed very dynamically with an increase of between 5.0 and 19.9 percent.
  • The asking price in Leipzig, Bremen, Dresden, Berlin and Cologne is below the national average.
  • Munich, Frankfurt am Main and Stuttgart remain the most expensive cities for apartment buildings.
  • The asking prices for new buildings in Düsseldorf and the area around Berlin have risen the most.

ImmoScout24’s current price analysis for new builds shows that asking prices for new build apartments in Germany’s ten most important cities have risen between 3.4 and 19.1 percent. In metropolitan areas, asking prices for new homes also increased significantly by 5.0 and 19.9 percent. Düsseldorf is in first place with a 19.1% price increase over the previous year, followed by Bremen with 16.3%. In Munich, Cologne, Hamburg and Berlin, price increases were below the national average of 12%.

“Last year’s continued price increases were mainly caused by supply bottlenecks and significantly higher prices for building materials such as wood and steel. Due to the war in Ukraine, these challenges are likely not to ease in the foreseeable future. . It remains to be seen what impact a possible increase in interest rates by the European Central Bank will have on demand and price developments, “explains Kristian Kehlert, ImmoScout24’s Market Analysis Team Leader.

For the evaluation, ImmoScout24 analyzed the average prices requested for a newly built apartment building and a newly built single-family house in Berlin, Bremen, Dresden, Düsseldorf, Frankfurt am Main, Hamburg, Cologne, Leipzig, Munich and Stuttgart. Reference objects were a new 3-room apartment with 80 m2 and a new building with 140 m2 of living space on an area of ​​600 m2.

Rising prices for building materials

Due to the ongoing construction boom, the demand for building materials continues to grow. The latest survey by the Federal Statistical Office showed that the prices of building materials and primary building products have risen more than ever since the start of the surveys in 1949. Builders have had to pay more than 77% in more for solid construction wood only. Similar developments were observed for steel products: rebar cost 53.2% more and welded wire mesh was 52.8% more expensive than in 2020.

Düsseldorf surpasses Hamburg and Berlin when it comes to asking prices for condos

With a 19.1% increase over the same period last year, the price level surpassed Hamburg and Berlin last year and ranks fourth in a metropolitan comparison. The asking price for a newly built 3-room apartment building averaged € 449,180 in the fourth quarter of 2021, nearly € 72,000 more than in the same period last year. Although asking prices have risen by 3.4% less in Munich, metropolis Isar remains by far the most expensive location for newly built condominiums. The average asking price of the reference apartment in the fourth quarter of 2021 was 699,740 euros. Frankfurt am Main follows at a great distance. Here, a similar apartment is offered for around 185,000 euros cheaper than in the state capital of Bavaria, despite the 14.6% price trend.

Four of the top 10 cities ask for prices for newly built apartments below the 400,000 euro threshold: Leipzig, Bremen, Dresden and Cologne. Leipzig remains the cheapest metropolitan area. While the state capital of Saxony has consistently experienced the highest growth rates in recent years, Leipzig is currently in the middle with a 12.8% price increase. In Leipzig, the asking price for a new three-room apartment is just under € 309,3300, a price difference of around € 390,000 compared to Munich.

The Berlin area shows the highest price increase for newly built homes

Due to the ever-increasing purchase prices in the metropolis of Berlin, many people are drawn to the surrounding area to fulfill their dream of owning their own home. This is also reflected in the development of asking prices. At 19.9 per cent, the commuter belt around Berlin experienced by far the highest price increase compared to the surrounding areas of other metropolitan areas. While a newly built house with 140 square meters in the Berlin area still had an average asking price of 363,780 euros in the fourth quarter of 2020, buyers have to contend with nearly 73,000 euros more 12 months later. The prices requested in the Dresden area also increased significantly by 13.8 percent. However, a comparable new building here costs only half as much as in the surrounding area of ​​Stuttgart.

Berlin, Dresden, Bremen and Leipzig are well below the national average of € 587,192 for asking prices for new buildings, but have broken the € 400,000 threshold for the first time. The highest price level was in Munich and Stuttgart, although the lowest price growth was found in Stuttgart at 5%, followed by Munich at 7.2% and Frankfurt at 6.8%. While Düsseldorf has seen the highest price increase for newly built apartments, the surrounding area is in the middle for newly built homes for sale with a 9% increase.

methodology

The average prices per square meter for condominiums refer to a three-room apartment of 80 square meters, built in the last two calendar years and with well-maintained quality systems. The average house prices refer to a single-family house with 140 sq m of living space on a 600 sq m plot, also built in the last two calendar years and with well maintained quality systems. The prices were determined on the basis of all new properties advertised on ImmoScout24. The percentage describes the price growth between the fourth quarter of 2020 and the fourth quarter of 2021.

Click here for interactive maps of the new buildings: https://www.immobilienscout24.de/lp/neubau-kauf-maps.html

Information about ImmoScout24

ImmoScout24 is the leading online platform for residential and commercial real estate in Germany. ImmoScout24 has been revolutionizing the real estate market for over 20 years. Every month, over 20 million users search for a new home or the right commercial space on our online marketplace or in our app. That is why 98 percent of the target group know ImmoScout24. With its digital solutions, the online marketplace creates direction and successfully brings together owners, brokers and property seekers. ImmoScout24 is working towards the goal of digitally processing real estate transactions, thus making complex decisions easier for its users. ImmoScout24 has also been active on the Austrian residential and commercial market since 2012 and reaches around 3 million users every month.

Press contact:

Lennart Dannenberg
Senior PR & Corporate Communications Manager
Phone: +49 30 24301 1270
Email: pr@immoscout24.de
www.immoscout24.de

Original content by: ImmoScout24, broadcast by news aktuell

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