Corona is having an impact, but real estate prices remain at an extremely high level. Dachau is again among the front runners.
Dachau remains in the top group when it comes to the highest property prices in Germany.
© picture alliance / Andrea Warnecke
Dachau - The district of Dachau will also be one of the most expensive residential regions in Germany in 2020. A recent study by the Hamburg World Economic Institute (HWWI) on behalf of Postbank revealed that the Dachau district outside of Germany's seven metropolises - Berlin, Hamburg, Munich, Stuttgart, Düsseldorf, Cologne and Frankfurt - is the sixth most expensive district Germany is.
In 2019, a condominium in existing buildings cost an average of 5,296.53 euros per square meter in the Dachau district, 4.91 percent more than in the previous year. In second place on the list are the Miesbach district (6127 euros), followed by Dachau, followed by Starnberg (6079 euros), the Munich district (6043 euros) and the Fürstenfeldbruck district (5316 euros).
The front runner in Germany as the most expensive location outside of the big cities is the district of North Friesland (6452 euros per square meter), which includes the islands of Sylt, Föhr and Amrum.
According to the HWWI, Munich is the most expensive place to buy apartments in Germany. In 2019, the square meter cost 6.2 percent more than in the previous year. This broke the 8,000 euro threshold; the average value for the purchase of condominiums in existing buildings in the Bavarian capital is 8079 euros per square meter.
And this value is unlikely to fall in the future either: Postbank gives little hope that prices will go down as a result of the corona crisis. It only assumes that the pandemic could "temporarily interrupt" the trend of price increases. “We expect a dip, but not an end to the price cycle. Ultimately, all the structural factors that shaped the cycle on the real estate market from 2009 to the beginning of 2020 continue to have an effect. If the corona pandemic remains manageable and an economic recovery sets in in the second half of 2020, the real estate market should also grow dynamically, ”said a spokeswoman for Postbank.
According to a model calculation by Postbank, residents in the Dachau district have to raise an average of between 24 and 30 percent of their household income to finance a 70 square meter apartment.
The Sparkasse Dachau, on the other hand, assesses the consequences of the corona crisis for the real estate market in the Dachau district a little more cautiously than Postbank. In its current annual report, the Sparkasse says that "the recessive effects of the corona crisis on the real estate market in the Dachau district cannot currently be estimated".
Corona consequences: Sparkasse Dachau with a cautious forecast
A continued high demand for the so-called “concrete gold” is only one possible consequence of the crisis. Contrary, i.e. contrary, effects could result from the fact that citizens prefer to keep their money liquid and therefore refrain from buying real estate for security reasons.
If there is also a significant increase in the unemployment rate in the coming months, this could also have negative consequences for the real estate market in the district, according to the Sparkasse Dachau.
Bernhard Hirsch
List of rubric lists: © picture alliance / Andrea Warnecke
