You need to be able to afford to live in Munich - and that is becoming increasingly unlikely. due to the prices continuing to climb, at least for new buildings. This is the result of the new Munich housing market barometer study. Accordingly, the average first occupancy rent in 2022 was 22.27 euros per square meter and thus around four percent above the level of 2020.

And if you still want to live centrally, you have to dig deep into your pocket. In the districts of Ludwigsvorstadt-Isarvorstadt, Maxvorstadt, Au-Haidhausen and Altstadt-Lehel, tenants are being asked to pay 25.60 to 28.30 euros per square meter. Also in Berg am Laim the asking rents were over 25 euros per square meter.

Many expensive new apartments were advertised there in the Werksviertel. Cheaper offers around 20 euros per square meter were found on average outside the Mittlerer Ring, in Feldmoching-Hasenbergl, Hadern or Milbertshofen-Am Hart. Most apartments (8.6 percent) were advertised in Pasing, the fewest in Nymphenburg and Schwanthalerhöhe.

There is a ray of hope for existing rents. In 2022, they averaged 19.25 euros per square meter. This is still high, but less than in previous years (2020: 19.58, 2021: 19.96). The cheapest rents in 2022 were in Feldmoching-Hasenbergl. Rents of over 21 euros per square meter were charged in the old town, in Lehel, in Maxvorstadt and in Schwabing. This is also where most of the apartments were offered, the fewest on the Schwanthalerhöhe and in Allach.

There is a trend towards furnished apartments: landlords can also charge more than 30 euros on average
For a while now, more and more furnished apartments have been offered, with landlords charging correspondingly higher rents. In 2022, the share was 21.5 percent of all advertisements and the average price for a new apartment was 30.24 euros per square meter (2020: 30.44, 2021: 27.19). Furnished existing apartments were advertised at an average of 26.46 euros per square meter in 2022, even slightly cheaper than in 2020.

Buying is not an option either. In 2022, new apartments were available for an average of 13,500 euros per square meter, two years ago the prices were 11,201 euros. And for existing apartments, around 9900 euros were quoted (2020: 8788 euros).

 

Article translated and rewritten from AZ