Real Estate Prices Munich 2025

Range approx. between € 7,000 and 13,000 per m²

Strong real estate market in Munich

Munich has grown strongly in recent years. As the third largest metropolis in Germany, the city of over 1.6 million inhabitants is a very popular place to work and live.

In spring 2025, the real estate market in Munich is in noticeably better shape than in the previous year. Lively interest, more sales and stable to slightly rising prices mark the end of the slump in the residential property purchase market.
The decline in prices by around 10-20% over the last two years and slightly lower interest rates are creating new opportunities for prospective buyers. The Munich real estate market is demonstrating its strength as one of the best addresses for solid and future-proof investments in residential real estate.

PRICING: WHAT IS YOUR PROPERTY IN MUNICH WORTH?

Anyone selling a property in Munich needs an experienced market professional to determine the fair market price. After prices per square meter have only risen over a long period of time, the price adjustment now requires special care after a phase of falling prices.

The experienced real estate agents at Mr. Lodge first develop a sensible, individual sales strategy. When determining the right property price, they also take into account what buyers in Munich can currently afford and in which target group the property on offer has the best chances of selling.

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Development of Munich’s real estate prices

Real estate prices in Munich have been at record levels for years. If you look at the purchase prices for condominiums, they have been at an absolute high since 2012. At that time, a square meter of living space could change hands for 3,428 euros. At the beginning of 2022, the average price was 9,187 euros. That corresponds to almost a tripling of the selling price.

This unmediated price increase reached a temporary peak at the end of 2022. Since then, prices per square meter in Munich have initially fallen.

There were signs of a trend reversal in the second quarter of 2024: Various sources, including Immoscout24, Immobilienzeitung and Sprengnetter, report an increase of between 0.1% and 0.4%. The IVD writes on the market situation: “The rising number of inquiries indicates a gradual market recovery.” Official data for the end of 2024 now shows a slight increase again compared to the previous year, confirming the stabilization of the market.

Development of asking prices for condominiums in Munich from 2012 to the 1st quarter of 2025 (in euros per square meter)

Source: Statista

Entwicklung der Angebotspreise (2012–Q1 2025)

Abb. 1: Durchschnittliche Angebotspreise für Eigentumswohnungen in München (Euro pro m²). Seit 2012 sind die Preise stark gestiegen – von rund 4.000 €/m² im Jahr 2012 auf etwa 9.500 €/m² zum Höchststand 2022

Die Grafik verdeutlicht den langfristigen Aufwärtstrend und jüngste Veränderungen. Zwischen 2012 und 2019 legten die durchschnittlichen Angebotspreise Münchner Wohnungen jährlich zweistellig zu. Im 1.Quartal 2013 lag der Quadratmeterpreis bereits bei ca. 5.027 € (+15 % zum Vorjahr). Bis 2015 verdoppelten sich die Preise gegenüber 2010 (+85 % auf ~5.750 €/m²). In den folgenden Jahren setzte sich der Anstieg fort und erreichte Anfang 2022 einen vorläufigen Höhepunkt um ~9.500 €/m². Seitdem kam es infolge gestiegener Zinsen zu einer Preiskorrektur: Bis Ende 2023 sanken die Angebotspreise auf etwa 7.550–7.700 €/m². Aktuell ist jedoch wieder eine Stabilisierung erkennbar – im 1. Quartal 2025 liegt der Durchschnittspreis bei ca. 8.200–8.300 € pro m². Somit stehen die Preise trotz des Rückgangs weiterhin deutlich über dem Niveau von 2012.

These figures illustrate the development of asking prices for condominiums in Munich in the period from 2012 to the end of 2024. In the 4th quarter of 2024, the average purchase price for a condominium in Munich was around €7,800 per square meter of living space.

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Prices per square meter in Munich: Current development

The prices per square meter in Munich are often used by buyers and owners as a reference value for property valuation. However, the average values from the Munich districts cannot be used to determine with certainty how much a specific property actually costs. This requires the experience of a long-standing market expert like Mr. Lodge, because apartments and houses are very individual and a number of value-determining factors have to be taken into account.

Nevertheless, trends can be identified in Munich that influence prices per square meter. Despite a phase of price reductions in recent years, Munich remains one of the most expensive real estate locations in Germany. Current market data shows average purchase prices of around €9,000/m² for condominiums and around €8,400/m² for houses - well above the national average.

Prices per square meter in Munich for buyers in 2025

For potential buyers, the average price per square meter for existing properties in Munich in 2025 will be around € 7,500 to € 8,200 per m². In sought-after districts such as Altstadt-Lehel, Maxvorstadt and Schwabing, prices will remain stable at over €10,000 per m², while in peripheral districts such as Trudering, Aubing and Pasing, prices per square meter of between €7,000 and €8,000 can be achieved. This means that current asking prices are roughly at the same level as last year, with slight upward fluctuations in prime locations.

For buyers, the price decline of recent years - triggered by higher interest rates and lower demand - certainly offers opportunities. Anyone buying in 2025 will find slightly cheaper offers than two years ago, as prices are around 10-20% below their former peak, depending on the segment and location. Nevertheless, the market will remain highly competitive, especially for well-located properties. However, those who can secure solid financing will find interesting entry options on the Munich real estate market in 2025.

Prices per square meter in Munich for owners in 2025

Owners in Munich can continue to benefit from high prices per square meter in 2025. Average prices in central locations remain stable at over €10,000 per m², which makes sales values in prime locations very attractive. In districts such as Moosach or Laim, prices will remain at a high level of between ~€7,000 and €8,000 per m², depending on the quality and micro-location of the property - and can sometimes be significantly higher if it is a high-quality renovated apartment, for example.

For owners, 2025 is a good time to consider sales opportunities, as prices have stabilized again after the decline. A thorough market analysis is advisable in order to take advantage of the best sales opportunities and find the right time. Mr. Lodge achieved an average price of €10,005 per m² for condominium sales in the period May 2023 to April 2024, well above the average market values in Munich.

Which Munich districts are the most lucrative?

Anyone looking to sell a house or apartment in Munich will benefit from the development of Munich real estate prices. The most popular districts are mainly located around the city center and Munich's old town. There are nightlife options of all kinds and culinary offerings for every taste.

The city of Munich is alive and always in tune with the times - this is particularly noticeable in the districts near the historic center. Nevertheless, there are also other lucrative districts in and around Munich. Even if places like Germering, Unterhaching and Unterföhring are not at the top of the popularity scale for students, families or older students like to live in these somewhat quieter areas in the surrounding area.

Naturally, demand is also reflected in the price per square meter: the more popular the district, the higher the purchase price. As Munich real estate prices have been at record levels since 1950 and Munich is one of the most expensive cities in Germany in this respect, properties in all districts are in high demand.

If you look at rental prices for apartments at the beginning of 2025, these five districts in particular are at the top: Altstadt-Lehel, Maxvorstadt, Ludwigsvorstadt-Isarvorstadt, Schwabing (including Schwabing-West) and Au-Haidhausen. In all of these districts, net cold rents of around €23 to €26 per square meter can be expected for apartments in Munich in 2024, broken down by district (in euros per square meter)

Source: geomap.immo (Q2 2023)

Abb. 2: Durchschnittliche Wohnungsmieten (Netto-Kalt) nach Münchner Stadtbezirken – Q1 2025 (Euro pro m²). Die teuersten Stadtteile liegen über 23 €/m², während in peripheren Bezirken ~18 €/m² üblich sind.

Auch die Mietpreise variieren deutlich je nach Lage. Im Stadtmittel beträgt die Angebotsmiete für Wohnungen aktuell rund 19,6 € pro m². Spitzenreiter ist der zentrale Bezirk Altstadt-Lehel mit etwa 24,1 €/m², gefolgt von Ludwigsvorstadt-Isarvorstadt (~23,6 €/m²) und Au-Haidhausen (~23,0 €/m²). Ebenfalls über dem Durchschnitt liegen z.B. Maxvorstadt und Schwabing-West (je ~23 bzw. 22,9 €/m²). Im Gegensatz dazu sind die Randbezirke deutlich günstiger: In Aubing-Lochhausen-Langwied zahlt man mit ca. 17,6 €/m² die niedrigsten Mieten im Stadtgebiet. Kaum höher liegen Allach-Untermenzing (~18,5 €/m²) und Feldmoching-Hasenbergl (~18,5 €/m²) Die meisten übrigen Stadtteile bewegen sich im Bereich von rund 19 bis 21 €/m², je nach Wohnlage. Insgesamt unterstreicht die Mietpreis-Spanne – von unter 18 € bis über 24 € pro Quadratmeter – die starke Lageabhängigkeit der Wohnkosten in München.

Quellen: Marktberichte und Preisdaten von Statista, Immowelt/ImmoScout24 und IVD. Alle Werte beziehen sich auf Angebotsdaten (Inseratsdurchschnitt).

The rise in financing costs means that many prospective property buyers are still finding it difficult to afford to buy their own home or condominium. The financial strength of potential buyers is subdued, and with it the number of purchase inquiries, although the basic demand remains strong. Accordingly, the diligence of a market expert with many years of experience, such as Mr. Lodge, is important in determining a sales price in line with the market.

In general, properties in Munich currently cost around €7,000 to €13,000 per square meter. If you decide to buy in Munich today, you will find slightly cheaper offers than 2-3 years ago, as prices have fallen by around 10-20% depending on the segment and location. However, this does not apply to all properties: energy-efficient refurbished properties or properties with efficient, low-carbon heating systems are seeing lower price reductions in some cases, as they are in particularly high demand. A comparison of sales prices within Germany shows that Munich continues to have an extremely high purchase price level - the second most expensive metropolis in Germany, Frankfurt am Main, only comes in at around €5,500 per m².

The residential real estate market is on the road to recovery. The supply of condominiums for sale remains tight in the city and district of Munich compared to 2023. Due to slightly better conditions for real estate loans and more attractive purchase prices, we expect buying interest on the Munich market to continue to increase in 2025. Furnished apartments and houses remain scarce and expensive and are still very attractive as an investment opportunity. The current situation is therefore a good time for all property owners who want to sell their property - whether owner-occupied or rented out - as solid profit-taking is still possible.

Real estate sale process with Mr. Lodge

With Mr. Lodge as a partner at your side, nothing stands in the way of the successful sale of your property. For more than 30 years we have been real estate agents in Munich and the surrounding area and we know the market.

When it comes to selling your property, we act routinely and proceed as follows:

First, the property is inspected. The best way to analyze the advantages and weaknesses of a property is on site. The next step is the property valuation. We determine the achievable sales price and discuss which measures could be taken to increase the revenue. You as the owner may carry out minimal modernizations that can positively influence the value. For a perfect presentation we offer home staging. This involves furnishing the empty property in a homely manner so that interested parties can experience the full potential of their future home. Studies show that this method achieves considerably better sales revenues.

As a next step, we sift through and thoroughly check the documents provided. We advise you as the owner which documents are necessary for a successful sale and obtain them on your behalf, if requested. Our commissioning is transparent and our payment is based on a performance-related commission.

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Then we start to create an exposé of your property. For this purpose, our in-house team of photographers will take pictures and videos of your apartment or house. Subsequently, we create an appealing exposé, which summarizes the core data of the property and the mentioned pictures. We publish this on our homepage and on the well-known internet portals.

In the next step we think about the target group of your sale: Is it rather the young couple with children, the student, whose parents finance the apartment for their child or is it rather older people, who could be prospective buyers of the property?

Depending on the target group, we develop a suitable marketing strategy as a team. The reason being: not every channel is suitable for all interested parties. While young people are always on the move and use platforms such as TikTok or Instagram on a daily basis, this is quite different for older people. Prospective real estate buyers of a certain age use real estate portals or advertisements in established print media to find the house or apartment of their dreams. There are countless possibilities and it is vital to maximize their potential.

The next item on our agenda is marketing. We strive to match real estate buyers with properties. In order to find ideal prospective buyers for your property, we proactively compose mailings. This way, we can directly approach our extensive pool of interested parties. The chances of finding the right buyer for your house or condominium like this are quite good. In addition, we present your property on our homepage and place the advertisement on all common Internet portals. Print media and displays in our shop windows in Munich and Rottach-Egern are used as further means to generate attention. We approach potential buyers in a targeted manner and proactively search for additional interested parties. During this process you are continuously informed about the status of the marketing. We also discuss the progress of negotiations and the next steps in the sales process with you as the owner and then implement them.

Subsequently, we will arrange viewing appointments on your behalf with those who are seriously interested in buying. Of course, tenants and you as the property owner will be involved in this process. We always work hand in hand.

Furthermore, we are a competent partner when it comes to sales negotiations. We determine the conditions under which the property will ultimately change hands. We also support potential buyers in taking out mortgages.

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Finally, the notarial purchase contract according to our specifications is drawn up by a notary. We discuss this in advance with you as the owner and accompany you to the notary appointment, where the sale of the property is sealed by the signature of all parties.

When it comes to selling real estate, why should you cooperate with us?

As a local real estate agent, we know the Munich real estate market like the back of our hand. We have a large network and therefore know all the properties on offer in the Isar metropolis. We know what type of property and which districts are currently in demand, and we provide professional support in price negotiations with prospective buyers.

With years of expertise, a very professional and multilingual team, we have a wealth of experience - also with international buyers. We understand the market and can achieve the optimal selling price for you. In doing so, we take over all tasks for you to ensure the success of your real estate sale.

Prognosis for real estate prices 2025

Real estate prices in Munich are expected to remain at their current level in 2025. Following the significant declines of recent years, a further fall in prices is rather unlikely. Rather, market observers expect that prices in the most sought-after locations could rise slightly, while remaining stable or falling slightly in peripheral areas.

A moderate interest rate level of around 3% for property loans will not trigger a sharp jump in prices, but may stabilize demand as financing remains affordable. In sought-after districts such as Schwabing, Altstadt-Lehel and Maxvorstadt, this could lead to slight price increases of up to 2%, while prices in less central districts such as Aubing or Moosach are likely to remain largely stable.

Factors influencing price trends in 2025

Several factors will determine the development of real estate prices in Munich in 2025:

Moderate interest rates: With interest rates of around 3%, real estate loans are still affordable, which is supporting demand. However, sharp interest rate cuts are not expected, which limits the potential for price increases.
Shortage of supply: New builds will remain scarce in Munich, which will limit supply. There will be no significant expansion of living space in 2025, particularly in central locations, which is likely to stabilize prices.
High demand: Munich remains in high demand as a business and innovation location. Owner-occupiers and long-term investors in particular could return to the market in 2025, which will stabilize or slightly increase prices in prime locations.

What buyers and owners can expect in 2025

In 2025, buyers will still have the opportunity to purchase properties at more favorable conditions than in the years before 2022. Moderate prices can be expected, particularly in less central locations or peripheral districts, which will enable an attractive entry into the market. In prime locations, however, potential buyers should expect slight price increases.

Owners in Munich can expect prices to remain largely stable in 2025. There is an opportunity to achieve attractive sales prices in sought-after locations, while prices in peripheral districts are likely to stagnate at the current level. For owners in these areas, it could make sense to consider selling and realizing the prices.

Contact us, we will be happy to help:

Dr. Cornelia Koronakis
Real Estate Sales Consultant
+49 89 340 823-546
cornelia.koronakis@mrlodge.de

How long have you been working in the real estate sector? Why did you decide to work in the real estate sector?
I have been working in the real estate sector since 2004. After my maternity leave I worked as a graduate lawyer at the Technical University. Afterwards I was in charge of various projects in an advertising agency and then came to the real estate sector through a relocation agency. Before I joined Mr. Lodge, I worked as a freelance real estate agent for property developers as well as for individual properties. I have been working at Mr. Lodge since 2017 and I feel very comfortable here.

What is it that you like most about your job?
The variety of properties and the contact to people. Because our company is international we also deal with many English-speaking customers, which I like very much.

What sets Mr. Lodge apart?
The great thing about Mr. Lodge is the entire background with photo service and interior design teams, as well as the friendly and supportive colleagues.

How do you like to spend your time outside of work?
I have a large garden, as well as a field with vegetables and fruits. So I spend a lot of time gardening outside. But I also enjoy sports, especially Chi Gong and belly dancing. Time with my family and friends is very important to me.

Have you personally bought or sold a property?
Yes, I bought my own 5-room apartment where I lived. The first sale was my own house, this is how I started out in the real estate sector.

What does your dream property look like?
A cottage or an apartment by the water, a lake, a river or preferably by the sea, but perhaps also in the mountains.

Edda Pucher
Real Estate Sales Consultant
+49 89 340 823-544
edda.pucher@mrlodge.de

How long have you been working in the real estate sector?
Over 25 years.

What is it that you like most about your job?
The diverse range of properties and the people you meet.

What sets Mr. Lodge apart?
The all-inclusive service package of our technical service, photo department etc. All the support that Mr. Lodge offers is particularly convenient for sales.

How do you like to spend your time outside of work?
Mountain biking in the summer, ski tours in the winter.

Petra Berger
Branch management Rottach-Egern
Real Estate Agent and Valuation (IHK)
+49 8022 981 31-1
petra.berger@mrlodge.de

How long have you been in the real estate industry? How did you get into the real estate industry?
With almost 40 years of experience in the hotel and tourism industry, most recently 15 years at Tegernseer Tal Tourismus GmbH, I have always enjoyed finding temporary homes for guests. In recent years, I have also been responsible for the area of settlement management. I successfully connected potential investors with prospective buyers or operators. So it was obvious for me to move into the exciting field of real estate services and to train as a real estate agent and valuation expert IHK. Through my job as branch manager for Mr.Lodge in Rottach-Egern, a professional dream came true for me.

What do you like most about Mr. Lodge?
The trusting, free, good, but above all productive working atmosphere, the lived "together and for each other", the open acceptance into an international team and finally the exciting field of activity with daily new challenges.

Have you bought or sold real estate privately?
Yes, privately my husband and I have bought an older 70s row end house on the Tegernsee, which we have renovated and embellished over many years in self-effort. Our home has been christened with the affectionate name "Squeeze Villa".

How would you describe your private living style?
I would describe our style of living as " country - modern - cozy ".

What do you like to do outside of work?
My passion has become Lake Garda, in addition to the many opportunities offered by the Tegernsee vacation region. Here I enjoy the Italian life, the delicious Italian specialties, the weekly markets and playing golf in mild temperatures. A good book to relax is also never to be scoffed at.

Alexander Thamm
Customer advice Rottach-Egern
Real Estate Agent (IHK)
+49 8022 981 31-2
alexander.thamm@mrlodge.de

What profession did you learn?

I have learned several professions. First, I trained as an automotive salesman and worked at a car dealership for 7 years. Then I graduated from the Chamber of Industry and Commerce as an insurance specialist and worked at Allianz until 2015. After that, I switched to the real estate industry and have now been with Mr. Lodge since 2021.

What sets Mr. Lodge apart for you?

The successful cooperation of the individual teams in order to serve the customer in the best possible way. The properties are well prepared for the customer from A to Z and all the necessary documents are gathered in advance. The colleagues work goal-oriented with a sound knowledge and no utopian prices are requested, but down-to-earth, normal prices. All customers are served the same way and each customer is offered something suitable, or we look for appropriate alternatives.

What would your dream property look like?

A spacious single-family house with a nice big garden, because I have discovered gardening for myself. I come from Hausham and the proximity to the Tegernsee offers me an enormous recreational value with the proximity to the mountains and lakes. The house should ideally be built in a typical Bavarian country house style with modern interior furnishings and nice big rooms for the kids.

What do you like best about Lake Tegernsee?

The proximity to the mountains and the many recreational opportunities such as hiking, biking and swimming. But I also love the proximity to Munich & the surrounding area, both can be reached very quickly.

Hobbies or hidden talents?

I have been passionately playing electric guitar for 33 years and have been an active member of the Faschingsverein in Hausham for 22 years. I was elected to the board of directors 10 years ago and we have around 500 members with a fanfare train and 3 active guards who also perform at weddings, birthdays and other celebrations throughout the year. The Elferratssitzung is especially popular, with up to 350 guests attending each event during normal times.

Do you have a favorite animal?

My favorite animal is the dog. My parents had dogs and so I grew up with them. Unfortunately, I don't have the time to have my own dog at the moment and my family and I would like to be able to be flexible for traveling. When I have more time, the children are a bit bigger and many travel goals have been fulfilled, then I would like to get my own dog.

Lisa Hessner
Head of Real Estate Rental
Dipl. in Real Estate (DIA)
+49 89 340 823-45
lisa.hessner@mrlodge.de

How did you get into the real estate industry?
As a teenager I wanted to enter the hotel industry and see the world. A few internships later, I was smarter and knew I wasn't cut out for it. After half a year as an au-pair in Paris, I was interested in studying architecture. However, I soon realized that a pure desk job wasn’t for me and I wanted more diverse tasks. I finally decided to pursue an apprenticeship as a real estate agent. In 2017 I transferred to Mr. Lodge and one year later I signed up for a part-time advanced training as a real estate manager. Mr. Lodge has been very supportive during this time. I am glad I made this choice and enjoy going to work.

What do you particularly like about Mr. Lodge?
The open-mindedness and people-centered approach. I always feel that everyone is respected and welcome at Mr. Lodge. Whether it is a landlord, tenant or employee.

How would you describe your personal living style?
I currently live very urban in a small downtown apartment, so I keep the furniture rather simple yet modern with a few personal touches. I even have a self painted picture hanging in the apartment, for which I get the occasional compliment. I like it.

Any hobbies or hidden talents?
I started playing the guitar when I was seven and had 11 years of lessons. I like to play everything from classical to popular. In the past I even took part in some competitions, but in the last few years I have only had little time for it.

Which country would you like to visit?
I would like to travel to La Réunion, a very small French island in the Indian Ocean near Mauritius. I would love to see the diverse landscape with volcanoes, canyons, forests and the blue sea.

What do you like most in Munich?
Munich is a city with a pleasant size. Not as small as my home town, where you can never leave your house without running into someone you know, and yet not so big that people behave like total strangers. Here you even greet others on the street at times. I also enjoy the difference between the various districts.

Norbert Verbücheln
CEO | Managing Director
+49 89 340 823-16
norbert.verbuecheln@mrlodge.de

How long have you been active in the real estate industry / How did you first come to the real estate industry?
I have been working in real estate for over 30 years. Initially as a working student. As a student I worked in the real estate department of the former DG Bank and in two brokerage firms.
My enthusiasm for temporary housing led to the founding of a room-mate-agency back in 1989.

What do you particularly like about Mr. Lodge?
The team spirit with the employees and the daily new challenges. In addition, it is a place where diverse employees with different nationalities and international backgrounds come together.

What distinguishes Mr. Lodge for you?
The focus is on providing good service and the joy of dealing with people.

What do you particularly like about your profession?
The rich diversity of encountering people from very different backgrounds. To sense the joy and gratitude of our customers when they have found a nice home through us.

What profession would you have pursued if you had not become a broker?
A gardener and landscaper

Have you personally already made a property acquisition or sale?
Yes, but I keep it modest. If you are intensively involved in your job, you're glad to have some distance to the topic.

What would your dream estate look like?
A country estate surrounded by fields and meadows

What do you enjoy doing most outside your working hours?
Reading, cycling or taking walks

Dietmar Schlüter
Deputy Managing Director Proxy | In-House Counsel
+49 89 340 823-21
dietmar.schlueter@mrlodge.de

How long have you been active in the real estate industry / How did you first come to the real estate industry?
For over 15 years now. Mr.Lodge was looking for long-term expertise in landlord consulting. My legal education, which I completed in Munich as an Assessor Jur., was a fitting match.

What do you particularly like about Mr. Lodge?
The good working atmosphere, the international staff, the combination of practical and legal enquiries in my daily work and also the relationship to our customers. In addition, I always experience Mr. Lodge as an innovative and at the same time down-to-earth agency; this mixture is exciting. And it is always great to observe how young colleagues in the company grow and thrive with their tasks.

What distinguishes Mr. Lodge for you?
Innovation, agility, customer closeness and an international working staff. Mr.Lodge is an authentic and in the best sense owner-managed company, with a corporate culture on a high level.

What do you particularly like about your profession?
Finding solutions for the questions of our customers. And of course the properties themselves: dealing with floor plans and finding solutions for the most efficient use of a property is always exciting.

What would your dream estate look like?
I have met it well where I live: really nice neighbours and beautiful gardens all around. The mountains and the ocean could be a bit closer.

What do you enjoy doing most outside your working hours?
Reading, hiking, getting together with friends and family. And listen to good music.

Please contact us:

Feel free to contact us with any questions you may have regarding the sale of your property.

Tel.: +49 89 340 823-540 | verkauf@mrlodge.de

Jacqueline Sauren
Head of Real Estate Sales

Team real estate sales

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