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Real Estate Market Report

Munich and surroundings | Tegernsee and Oberland

Our regular market report is intended to provide a general overview and help you gain your own impression of market developments and the framework data on the Munich real estate market.


Real Estate Market Report: Rental and Sales

Munich - 9 December 2022

 In our current market report, we would like to inform you about the following topics:


  • Furnished apartment market - too little supply
  • Mr. Lodge Apartments
  • Real estate sales: significant trend reversal
  • Building permits Munich and districts
  • Population development city of Munich (30.09.2022)
  • Upward trend in the Munich office market
  • Labor market development in Munich
  • Rising interest rates

Furnished housing market

As the labor market remained positive and the supply of apartments was therefore scarce, vacancy rates stayed very low in recent months. Demand ranged from classic apartments and 2-room apartments to larger 3-5-room apartments and houses. Apartments in the 20-35 sqm size category were extremely scarce throughout the year. There seems to be no indication of change here either.

Soaring energy costs have also been a continuing concern for our landlords. We are available to advise them with a great deal of dedication. At the handovers we carry out (around 1,500 this year), we try to educate the tenants on the subject of "correct heating and ventilation". Furthermore, this fall we began giving tenants a brochure with energy-saving tips, in German & English, and tenants receive a free hygrometer with temperature and humidity readings. In this context, we would like to recommend to all landlords that they also give their tenants an understanding of the subject of "proper heating and ventilation". And if we have not already done so, to provide the tenants with a hygrometer. In individual cases, this can prevent unnecessary damage from moisture.


Outlook for the rental market

We expect demand to remain stable and very good in the coming months. The supply remains too tight. We are therefore urgently looking for good furnished 1-5 room apartments and houses for pre-registered and highly qualified specialists and executives from Germany and abroad, but also for career starters or exchange students. From small apartments to larger family-sized apartments, houses or villas: all sizes are in high demand in the city of Munich and the entire S-Bahn area, as well as in the Oberland region with the Tegernsee area.

Our landlord advisory service will be happy to advise you: Jeanine Goss, Luisa Hönig, Kevin Radde, Lisa Hessner, Steven Meyer, Louisa Kuß and Jenni Nguyen


Furnished rental: 089 340 823 44 | Unfurnished rental: 089 340 823 50 

Interior Design

Our interior design team has been supporting you as a landlord with individual furnishing solutions and equipment additions for over 20 years. It is now a team of 7 interior designers and interior design consultants.


Mr. Lodge Apartment:

In order to better meet the high demand for furnished apartments, we offer a ready-made furnishing and equipment concept for the apartment sector from January 2023. The furnishings have been designed by Interior Design Mr. Lodge with sustainability in mind and in accordance with the requirements of tenants and landlords. For landlords, we not only offer a ready-made concept, but can also promise rapid implementation, as we have ready-made complete furnishings for 1-bedroom apartments available from January 2023.

Real estate sale

There is news about the real estate market every day and for months they have been reporting a turnaround in real estate prices. The supply of real estate has increased massively in recent weeks and months. The current total supply, which is very high in the Munich area and in the counties, is not the result of an increase in interest in selling, but of a more difficult sell-off. Many properties were not in demand at the asking prices.

Prospective buyers are faced with increased interest rates, higher energy costs and rising living costs. The scope for financing has therefore become considerably narrower for many prospective buyers. In Munich, there are still full payers, i.e. buyers who do not require financing, but this is not the norm. The message has gotten through to most owners willing to sell that the market has changed. If purchase prices are realistically adjusted or set, buyer interest is generated resulting in closings. Now, differences are starting to reappear: How is the location, is the property suitable for owner occupancy or does it only appeal to the capital investor. We are in constant dialog with the owners in order to meet the requirements of the market. For potential buyers, on the other hand, it is important to remember that coveted properties are still only available once, and opportunities to buy must be seized quickly.

Those who wanted to sell may have felt upset at not having made the decision sooner. Even now, do not delay your decision to sell any longer. Let us advise you, let us evaluate your property to get an up-to-date picture. We accompany the sale with a perfect support by our sales team, by excellent (free) staging and with professional photography as well as with meaningful videos and 360° shots. In addition, you benefit from our good cooperation with financing experts and financial service providers, which is becoming increasingly important, especially in today's world.


Our sales team will be happy to support you throughout the entire sales process with many years of experience and expert knowledge.

There are excellent reasons for selling through Mr. Lodge:

  • High degree of recognition
  • Great expertise in all real estate matters
  • The multilingualism and internationality of our staff
  • The marketing team ensures the perfect exposure
  • The professional photography team creates a first-class presentation with photos, videos and 360° shots with MATTERPORT©
  • The home staging (without charge) of Mr. Lodge, in order to present your property in the best possible way
  • The technical service of Mr. Lodge to support the owners and buyers
  • The rental department for capital investors
  • The cooperation with financing experts and financial service providers

We are still looking for apartments, apartments, houses and plots of land for owner-occupiers and capital investors in the greater Munich area with the adjoining districts and in the Oberland region with the Tegernsee area.

Bernd Wedemeyer, Dr. Cornelia Koronakis, Selina Bilsing, Jacqueline Sauren, Julia Chmurnov, Edda Pucher, Lisa Wiedemann, Thomas Engel and Peter Sarta 


Tel: 089 340 823 540 | verkauf@mrlodge.de


ImmoScout24 offers for sale (City of Munich)

Development of real estate supply in recent months, which was similar in the neighboring counties.


Purchase offer for apartments - plus 114%

  • April: 1,728
  • June: 2,114
  • July: 2,612
  • December: 3,700

Purchase offer for houses - plus 129%

  • April: 279
  • June: 317
  • July: 416
  • December: 640

Building permits in Greater Munich, neighboring counties and in the counties of Bad Tölz-Wolfratshausen, Miesbach and Rosenheim

Level height previous year: in the first 9 months of 2022 (01.01.-30.09.2022), many building permits were issued again. There were strong figures in the district of Munich +82%, Erding +31% and in the district of Rosenheim + 36%.


City of Munich5,690 (6,740)-16%
Munich district1,758 (964)+82%
Bad-Tölz-Wolfratshausen district371 (343)+8%
Dachau district520 (582)-11%
Ebersberg district250 (221)+13%
Freising district541 (851)-37%
Erding district916 (698)+31%
Fürstenfeldbruck district507 (529)-4%
Miesbach district375 (360)+4%
Starnberg district370 (451)-18%
Rosenheim district1,646 (1,206)+36%

 Source: Bavarian State Office for Statistics         

Population development city of Munich as of Sept. 30, 2022:

So far this year, there are 8,485 more households (as of the end of September). The population had declined somewhat in the summer months, only to increase again now in September.


  • September 2022: 1,580,350 (private households: 842,411).
  • In comparison: December 2021: 1,562,128 (private households: 833,926)

Balance compared with December 2021: + 18,222 inhabitants (private households: +8,485)

Source: City of Munich 

Office market 2022: Q1-Q3 +34%.

Brokerage house BNP PARIBAS REAL ESTATE also reports very good leasing results for the 3rd quarter with 201,000 sqm. For the first 3 quarters, take-up is 592,000 sqm and up 34% year-on-year. It is expected to reach 750,000 sqm for the full year, a result significantly higher than the previous two years.



Munich labor market robust

On the STEPSTONE portal, the number of job offers at the beginning of December is down slightly compared with the fall and, at 13,900, is slightly below the previous year's level (14,300). Unemployment in Munich stood at 41,855 in October 2022, a rate of 4.0 percent. The Federal Employment Agency's job openings increased by 3,462 to 14,253 in October (+21.7% above the previous year)


Source: Federal Employment Agency Munich, Stepstone

Interest rates currently slightly down

Compared to the previous weeks, a slightly weakened interest rate level can be seen. However, a comparison with the previous year shows the full extent: prospective real estate buyers must expect over 2% more interest. The banks take into account the increased costs of personal living and the energy price situation when financing.
Here are the current values, based on a 50% loan-to-value, with a € 500,000 purchase price and 2% repayment (these values are without guarantee and are merely a guide):


TermFeb '08Oct '12Sep '16May '19July '21Juli '22Nov '22
5 years4.19%1.73%0.71%0.70%0.62%2.70%3.30%
10 years4.48%2.45%0.90%0.86%0.66%2.90%3.20%
15 years4.63%2.91%1.34%1.19%0.92%3.10%3.30%
20 years  1.57%1.49%1.12%3.40%3.50%

Source: Interhyp - www.interhyp.de

We would like to take this opportunity to thank you for the great cooperation.


Kind regards,
Norbert Verbücheln, Managing Director
T.: 089 340 823 16 | norbert.verbuecheln@mrlodge.de

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