Berlin, October 1, 2020 – In 2019, a total of 20,131 condominiums were sold in major Bavarian cities, 753 more than in the previous year. This is the finding of this year’s ACCENTRO Homeownership Report, which analyzes data from the appraisal committees of 82 major German cities. In the Bavarian capital as well, sales picked up again following a decline the previous year. A total of 10,373 condominiums were sold in Munich in 2019, 527 more than in 2018. The largest year-over-year increase, at 31.51 percent, was recorded in Regensburg, where 1,273 condominiums were sold.
Würzburg Shows the Largest Increase in New Construction
Of the eight Bavarian cities surveyed, five rank among the top 20 cities nationwide with the most new-construction units sold. The most new-construction apartments were sold in Munich (2,826), followed by Nuremberg (616), Regensburg (594), Ingolstadt (327), Erlangen (308), Augsburg (278), Fürth (277), and Würzburg (208). The largest increase compared to 2018 was recorded in Würzburg, where 170.13 percent more new-construction units were sold. With the exception of Nuremberg (-7.51 percent), Fürth (-43.35 percent), and Ingolstadt (-33.94 percent), all Bavarian cities surveyed showed positive growth. In 2019, 5,434 new-construction apartments were sold in Bavaria, which is 119 more than in the previous year.
“The number of new-construction apartments sold reflects construction activity in the major cities. New construction, in turn, is crucial for balancing the market, as the top seven locations and popular cities in particular have grown enormously over the past decade due to strong immigration from within Germany and abroad. Bavaria’s major cities are experiencing high demand for home ownership,” explains Prof. Dr. Michael Voigtländer, head of the Financial and Real Estate Markets division at the IW, who was responsible for data collection for the first time this year.
Munich Remains Germany’s Most Expensive City
As in 2018, Munich remains Germany’s most expensive city. Compared to the previous year, prices per condominium rose again by 10.65 percent in 2019. With an average price of 535,043 euros, the 500,000-euro mark was surpassed for the first time. “This once again underscores Munich’s position as an attractive investment location,” says Lars Schriewer, Chairman of ACCENTRO Real Estate AG. Aside from Munich, prices also rose in all other major Bavarian cities except Fürth (-0.04 percent). The price increase in Munich was surpassed only by Würzburg, where prices rose by 18.63 percent compared to 2018. Total sales volume in Munich reached 5.55 billion euros. As a result, the Bavarian capital was able to halve the gap between itself and Berlin (6.25 billion euros).
About the ACCENTRO Homeownership Report
ACCENTRO Real Estate AG has published its Homeownership Report for the thirteenth time. This year, the Homeownership Report was produced for the first time in cooperation with the German Economic Institute. The analysis is based on homeownership transactions from the 2019 reporting year in all 82 major German cities. By drawing on data from appraisal committees, the report differs significantly from similar publications, which are usually based on expert estimates or the analysis of listing data. Detailed results from the ACCENTRO Homeownership Report on Germany’s ten most populous cities and trends over the past twelve years are also available online in the ACCENTRO database and can be filtered individually: Homeownership Report
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is a residential real estate investor and the market leader in housing privatization in Germany. As of December 31, 2020, its real estate portfolio comprised approximately 5,200 units. In addition to Berlin, its regional focus includes major East German cities and metropolitan areas, as well as the Rhine-Ruhr metropolitan region and Bavaria. ACCENTRO’s business activities encompass four core areas. These include the tenant-oriented sale of apartments to owner-occupiers and private investors, the sale of real estate portfolios to institutional investors, the development and management of its own real estate portfolio, and the marketing of apartments for portfolio holders, investors, and project developers. The shares of ACCENTRO Real Estate AG are listed on the Prime Standard of the Frankfurt Stock Exchange (WKN: A0KFKB, ISIN: DE000A0KFKB3). investors.accentro.de
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