Real Estate Agent Munich – Real Estate Prices 2024

Munich property prices and prices per square meter for houses, apartments and land sales




I. Advance information:

I have written this article for property owners who want to generally inform themselves about property prices in Munich, Germany. As a real estate agent I have personally seen about 5.000 houses, apartments or plots of land. On a daily basis I work with different “tools” to be able to determine the sales prices or square meter prices as exactly as possible. The now following general overview of course cannot replace an accurate property valuation, but it can provide a good orientation. All sales prices, square meter prices etc. specified below are average values.
I’d be glad if this information was helpful for you. In case of any topic specific questions feel free to contact me at any time.

If you are interested in selling your real estate in or around Munich, you can use our service to find out what its current valuation is.  

II. Real estate prices in Munich, offer prices 2024:

Real estate offers
Real estate offer prices

This is about advertising prices in real estate advertisements. What was the average price for a used house and what was the average living space? This section provides data on average offering prices in the 1st quarter of 2024. Caution: These are not necessarily the finally obtained selling prices. The quantity of offers I have intentionally omitted here to avoid an excess of figures.

Real estate prices Munich – used houses: Single family houses, average 200 m² living space, cost around 2.18 million EUR. Semi-detachted houses with on average 150 m² were at about 1.32 million EUR, mid-terrace houses with 125 m² at around 1.20 million EUR, end terrace houses with 140 m² on average were also at ca. 1.2 million EUR.

Real estate prices Munich – new houses: New single family houses, average 200 m², cost ca. 2.2 million EUR, new semi-detached houses, 150 m², cost around 1.58 million EUR. New mid terrace houses with 125 m² living space on average cost 1.19 Mio. EUR, new end terrace houses with 140 m² cost around 1.38 Mio. EUR.

Real estate prices Munich – apartments: At this point it is not worthwhile to examine the total prices of 1 to 5 room apartments and to deduce average values. The here relevant values are the prices per square meter which are covered later in this article under point III.

Real estate prices Munich – property sale: In general most of the advertised lots were designated for building single family houses. The average surface was about 760 m² with an average price around 2.2 million EUR. The lot size for semi detached houses with 700 m² in average amounted to about 1.65 million EUR. Lots for multi-family houses statistically had 1380 m² in size and cost about 3.6 million EUR. Note: These prices are purely average prices and make no reference to a specific location quality. 


III. Key statistic: Price per square meter Munich, offer prices 2024:

Prices per square meter Munich, sale offers in the first quarter of 2024. Advance information:

A house price generally consists of three components:

a. the property price

b. the building value/price

c. supply and demand

While in case of apartments the price per square meter is THE implement for price orientation it is not in case of house prices. 150 m² living space on a 300 m² lot or 150 m² living space on a 600 m² lot result in different end prices and thus different prices per square meter living space. If the following values are to be applied to a specific object, this must of course be kept in mind and appropriate additions or deductions must be calculated.

Prices per square meter Munich, used houses: mid-terrace and end terrace houses in average were at about 8.000 – 10.000 EUR per m², semi-detached houses at about 8.800 EUR in average and single family houses at about 10.900 EUR per square meter living space.

Prices per square meter Munich, new houses: Here mid-terrace and end terrace houses were at about 9.000 -10.000 EUR per m², semi-detached houses at about 10.500 EUR per m² and single-family houses at about 11.000 EUR per m². Some readers may be surprised that new houses are not considerably more expensive than the above mentioned used houses, and here is why: Currently houses in the new building segment, especially single-family houses, ordinarily are built on smaller plots of land than older houses are on and that of course reduces the overall price per square meter living space.

Square meter prices Munich – apartments (without new objects): On average these amounted to about 9.300 EUR/m², apartments with a garden generally cost 9.600 EUR/m², rooftop apartments around 10.800 EUR/m², penthouses ca. 13.000 EUR/m². Also maisonettes with about 10.800 EUR/m² were above average.

Square meter prices Munich – new apartments: Here the average ranged at ca. 13.400 EUR/m². Of course newly built penthouses and the like were more expensive and in average ranged at about 15.800 EUR/m².

Square meter prices for lots of land in Munich: The offering prices ranged at about 2.900 EUR per square meter (lots for single family houses), at 2.350 EUR per square meter (semi-detached houses) and at 2.600 EUR per square meter (multi-family houses).


IV. Official sales figures and prices for actual, i. e. notarial certified sales in 2022 and forecast for 2023:

Immobilienmakler München
Semi detached house in Munich

Advance Information:

a) The best price overview generally comes from the annual report of the Munich advisory committee. This market report contains about 70 pages with figures, statistics and comments on the real estate market Munich. It can be ordered for 70 EUR at the Gutachterauschuss München, Implerstr. 9, 81371 München (German only).

b) The herein mentioned square meter prices are indicative only which means that +/- 20 % price difference are absolutely possible. Especially when it comes to highly sought after objects 50 % difference upwards are quite possible.

It should be noted, that market prices for real estate have fallen significantly in 2023 due to rising interest rates on loans in Germany in general and also in Munich. Below we give the average sales prices determined by the Munich expert committee for 2022, and then our own forecast for 2023 based on our own market observations. Official figures for 2023 will not be available until mid-2024.

Sales Figures 2022

Apartments: The Munich expert committee statistic from 2022 embraces 40 values which are arranged per year of construction, location and object type. As a guiding value for frequently encountered apartments in Munich are here two rough values for the construction year range 1960 to 1969 (new objects are of course correspondingly Ø 20-30% more expensive):

On the one hand mid-level residential location, construction year range 1960-69: approx. 7.700 EUR/m², on the other hand good residential area: 8.750 EUR/m².

For newly built apartments in mid-level residential areas square meter prices of 11.000 EUR/m² were paid on average, in good residential areas 12.050 EUR/m².

Houses: Newly built semi-detached houses cost approx. 12.300 EUR per square meter living space, used objects were mostly between € 9.000 und 12.000 EUR per square meter in average depending of their year of construction. A look on the final selling prices shows ca. 1.6 Mio. EUR for new semi-detached houses and 1.3 Mio. EUR for used houses at a size of 130 m² living space. Used Mid-terrace and end terrace houses ordinarily ranged between 8.000 and 11.000 EUR/m², new ones between 10.000 and 13.000 EUR/m². The selling prices largely ranged between 900.000 and 1.4 Mio. EUR for 120 m² living space. Single family houses differ in a larger scale and must be individually valuated.

Land prices Munich: In 2022 the prices per square meter amounted to around 2.400 EUR in mid-level residential areas, to around 3.150 EUR in good residential areas.

Forecast 2023

According to current market observations, depending on the location and the individual property, prices in Munich have fallen by between minus 3 and minus 20 % depending on location and individual property, compared to the previous year. Here is a diagram showing the price devolopment for apartments in Munich from construction years 1960-89 comprising the last 10 years and forecasting approximate average prices in 2023 (properties in various location qualities, in ascending order: average location, good location, prime location, good central location):


German Article: Immobilienpreise München

Your property or building sale:

You want to sell your property or building in Munich?

Contact me for a free of charge and non-obligating initial appointment.

You can reach me under: rainer(at) or by contact form

or by phone under: 0049-89-131320

Rainer Fischer, Immobilienmakler für München und Umgebung
Rainer Fischer, Real Estate

V. History and general cityscape:

The Bavarian federal capital Munich with over 1.5 million inhabitants is the largest city in Bavaria. A first documented mention of it is found in the year 1158. The most likely origin of the name Munich dates back to the Old High German „Munih“ (monk) and refers to a branch of monks of a monastery, which allegedly settled here. 1255 Munich became the Bavarian ducal seat and was by 1328 an imperial residence. In 1506 it was the sole capital of Bavaria. At the end of the 18th century Munich grew rapidly. In 1700 Munich had 24,000 inhabitants. In the following years, the population doubled every 30 years. 1871, 170,000 people lived in Munich, in 1933 there were already 840,000. During the Second World War, Munich was heavily damaged. The reconstruction was largely based on the historic townscape. Subsequently Munich grew into a high-tech location and a large number of service providers settled here, such as banks, insurance companies and media. For the Olympic Games in 1972, public transportation has been greatly expanded with underground and commuter trains (S-Bahn), which partly reach out far into the surrounding areas. In Munich, numerous national and international authorities, corporations and insurance companies are established, as well as universities and notable theaters and museums. Economically, Munich is one of the most successful metropolises in Germany as well as one of the fastest growing.


VI. About the author Rainer Fischer:

Started his activities as an estate agent in 1992. Since then he sold about 1.200 properties with his real estate agency and personally inspected several thousand properties and assessed the values. In 2008 the idea arose to share the know-how gained in many years with people interested in real estate issues via a website. In the past years more than 3.000 hours of research, evaluation time and paperwork have been invested in this project. Rainer Fischer: „There are certainly good books and articles on the topic ‘Property in Munich’. It is my goal to step by step build a website which provides as much know-how as possible and answers questions raised by practice. This is carried out in addition to my normal work and it gives me a lot of pleasure. Real estate is just an interesting topic.“

Rainer Fischer, Real Estate agent Munich, Nymphenburger Str. 47, 80335 Munich, Office location
Phone: 0049-89-131320
Fax: 0049-89-133424

VII. Sources:

Wikipedia;; Determination of housing prices, land prices and square meter prices by Rainer Fischer, real estate broker for Munich, based on data of IMV Market Data GmbH (LLC). Statistics and analysis of housing prices and land prices are based on the Annual Report 2022 from the official Munich committee of valuation experts. The Real Estate Report does not allow qualified valuation of individual property prices as this would be done by an expert or real estate agent from Munich. A liability for the consistency and completeness of the report is excluded.

Fischer Real Estate is your real estate agent for Munich.

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