Sunday , September 20 2020
Building land is more expensive than ever in Germany - almost 190 euros per square meter

Building land is more expensive than ever in Germany – almost 190 euros per square meter

"Not just prices for Residential real estate are at a record high, and building land has never cost so much ": The average purchase value of ready-to-build plots in Germany was higher than ever in 2019. The value was 189.51 euros per square meter, announced the Federal Statistical Office. Ten years earlier it was around 122 euros.

Investors in the city-states of Berlin and Hamburg had to pay a particularly large amount. There, the square meter cost 1328.48 euros or 1157.91 euros. In contrast, purchase values ​​were lowest 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.

Reason for row houses is more expensive than for detached houses

Basically, the prices increase with the size of the community. In municipalities with fewer than 2000 inhabitants, 66.04 euros per square meter were due, in the 14 largest cities with at least 500,000 inhabitants it was 17 times as much: 1128.33 euros.

Approximately 81 percent of all sales were residential property transactions. "These were also the most expensive of all construction areas," explained the statistics office. The square meter price 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 any gaps – such as row houses. The open design requires a lateral limit distance and thus more space.

Icon: The mirror

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