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“Not only are residential property prices at a record high, building land has never cost so much” – The average purchase value of ready-to-build plots in Germany in 2019 has never been higher. The Federal Statistical Office announced that the value was 189.51 euros per square meter. Ten years before it was around 122 euros.
Investors in the city-states of Berlin and Hamburg had to pay a particularly high amount. There, the square meter cost 1,328.48 euros or 1,157.91 euros. By contrast, purchase values were lower in Thuringia, Saxony-Anhalt and Mecklenburg-Western Pomerania. Here they were on average only 49.67 euros, 52.19 euros and 56.10 euros, respectively.
Row houses motif is more expensive than single family houses
Basically, the prices increase with the size of the community. In municipalities with less than 2,000 inhabitants, 66.04 euros were owed per square meter, in the 14 largest cities with at least 500,000 inhabitants it was 17 times more: 1,128.33 euros.
About 81 percent of all sales were residential property transactions. “These were also the most expensive of all the construction areas,” explained the statistics office. The price per square meter in residential areas with closed construction was around 76 euros higher than in those with open construction at 285.76 euros. With closed construction, buildings can be erected without gaps, like row houses. The open design requires a lateral limit distance and therefore more space.
