In Northeast Germany:
In Berlin, apartment prices continued to rise (7.2%) during 2020 to an average of €4,743 per square meter. The average price of one- and two-family homes rose 12.3 percent to 3,350 per square meter.
In Hanover, the price of German residential real estate rose 8.1 percent to an average price of €2,877 per square meter during 2020. Similarly, the average price of one- and two-family homes increased by 11.2 percent to 2,455 euros per square meter.
In Dresden, apartment prices rose a modest 4.1 percent to 2,926 euros per square meter, while single- or two-family homes reached 2,735 euros per square meter (+9.3 percent).
In Hamburg, the price of apartments rose to 4,750 per square meter (+9.5%). Single- and two-family homes rose +11.3% to 3,282 per square meter.
In West Germany:
Dortmund had the highest increase in the average price of German residential property, rising 12.4% to 2,071 euros per square meter. Prices for one- and two-family homes also reached 2,512 (+11.1%) during 2020.
In Cologne, the average apartment price rose 10.6 percent to 3,609 per square meter. One- and two-family homes reached 2,881 per square meter (+10.2%).
In Düsseldorf, the average apartment price rose 6.9% to 3,338 per square meter, while the average price for one- and two-family homes reached 2,944 euros per square meter (+7.5%).
In Southern Germany:
In Munich, the average price of German residential property reached 7,882 euros (+ 5.1%) per square meter. Prices for one- and two-family houses rose +6.4% to €5,806 per square meter over the same period.
In Frankfurt, apartment prices were 4,138 per square meter (+5.5%). Prices for one- and two-family homes increased by +10.4% to 3,210 per square meter during the same period in 2020.
Stuttgart had the strongest increase in apartment prices in Southern Germany compared to the same period in 2020, up +7.3%, with an absolute figure of 4,037. On the other hand, the average cost of one- and two-family houses was 3,782 per square meter (+10.6%).
Making a purchase and sale of residential real estate in Germany, it is easier and cheaper to make a money transfer to the amount of the cost of the apartment from your German bank account. That is why we offer a free consultation on the selection of foreign bank accounts.