Last week the Financial Times online edition published an article about why the Bavarian capital is the most expensive place in Germany to buy a home.
In the article Nick Foster points out many of the reasons why Munich is one of the best places to live in Germany and why real estate prices are the highest in Germany and the trend of higher real estate prices than in the rest of the country is likely to continue.
“The city of about 1.5m residents is popular with Germans casting around for a new place to live. This, coupled with a powerhouse local economy — the city is home to several major corporations including Siemens, Allianz and BMW — has made Munich the most expensive city in Germany to buy a home. According to the German Real Estate Association, apartments located in average residential areas in Munich (including units sold with long-term tenants) typically cost €3,600 per sq metre, up 10.5 per cent over the course of 2014. The same type of apartment would cost €2,100 per sq metre in Hamburg (also up 10.5 per cent in 2014) compared with €1,750 per sq metre in Berlin, up almost 13 per cent.”
You can read the whole article here.