The standard land values in the district of Miesbach are rising and rising.
Bernhard Mayer from the district office explains the background.
District - The trend that the standard land values for the years 2019/20 showed for the district is no surprise: Real estate prices have risen again.
The extent makes one sit up and take notice: up to 25 percent.
Bernhard Mayer, Chairman of the Advisory Committee, explains how these figures were determined, what they tell us and what conclusions can be drawn from them.
The 54-year-old architect has been working at the Miesbach district office for five years, heads the office of the expert committee and advises on all aspects of urban land-use planning.
Mr. Mayer, you know the numbers best: How do you see developments in the district?
Mayer:
The committee of experts, of which I am chairman, has the task of reporting objectively on developments in the real estate market.
But we are regularly concerned with the effects of price developments - on the phone to reassure concerned citizens.
Why that?
Mayer:
Because there are simply still high values on the market.
Real estate values are booming and we are feeling the concerns of county residents.
They fear that gift or inheritance taxes will get so high that it could become too much for the beneficiaries.
Because the standard land values are by law the basis for the valuation of real estate.
Many also come from the appointment with the tax advisor and ask us if something is going on.
So that you should correct values downwards?
Mayer:
Exactly.
Or that we show a lower land value for the property in question.
Of course we can't.
As a committee of experts, we evaluate the prices of the real estate transactions that took place in the relevant period - now 2019 and 2020 - and determine the guide values.
Only lawyers and tax advisors who can give you good advice on planning the handover can really help those affected.
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Bernhard Mayer, chairman of the expert committee.
© THOMAS PLETTENBERG
Real estate prices have been climbing for years. How can this be explained?
Mayer:
Still with the low interest rate situation.
Anyone who has wealth is desperately looking for ways to invest it profitably or at least to park it without losing its value.
The increase in value has been felt very strongly in the district since 2010.
Especially in Schliersee / Neuhaus and in the Tegernsee valley, especially at the lakeside locations in Rottach-Egern, the high elevations in Tegernsee and also in Kreuth.
With their S-Bahn connection, Holzkirchen and Otterfing are already part of the suburb of Munich.
Although one has to say: The development is strongest and clearest at Tegernsee.
Less vacant land purchases
Munich is still at the top.
Mayer:
Yes, but probably not that strong anymore.
It's shifting.
And places like Waakirchen, Warngau, Valley and Kreuth, which are less well developed, are swept away.
But the main trend is still towards the premium locations.
How are these numbers determined?
Mayer:
The basis is the purchase price collection that we keep at the district office in the office of the expert committee.
There we are a team of four people, 2.6 of whom are full-time positions for the expert committee.
We record the purchase deeds and qualify the data suitable for evaluation.
We also have to determine the value-relevant components.
We prepare the cases - online mostly via the geo-portal, but also on site if there is no other way.
And we do research beyond that too.
How do you do that?
Mayer:
On the one hand, we are very keen to ensure that the questionnaires are returned by the buyers.
The response rate is 70 percent, which is relatively good.
But we also write to brokers and ask for the exposés.
Or we go there ourselves to clarify the number of floors, for example.
In general, there is a legal obligation to answer the questionnaire, but we rely on voluntary action.
And the reviewers?
Mayer:
The twelve experts are volunteers in the committee and come from the industry - experts and architects.
It is determined in a team, with the district divided into a total of 350 standard land value zones.
Each zone is determined.
The procedure is very much characterized by the so-called intersubjective procedure: at least three experts determine in a dialogue in several working sessions.
With Corona we had a hybrid mode: three to four colleagues on site, others connected online.
In total, we came to around 450 working hours for the current survey.
How big was the volume of purchase cases?
Mayer:
Once again, there were fewer purchases of undeveloped land, but the prices were higher.
This can also be observed in tendency.
This is because the vacant lots are less and less available.
This is why redensification plays a major role - especially in lakeside communities where there are still park-like properties.
Second homes as a problem
What do you mean, there were fewer cases of purchase?
Mayer:
In total, we processed around 1,300 sales in 2020, which had a total volume of around one billion euros.
But you shouldn't forget that there were a few properties that cost a lot of money in comparison.
A simple division calculation has no meaning here.
The amount of money invested rose by around 20 percent annually.
At least that's how it was from 2018 to 2019 and from 2019 to 2020.
What about the condominiums?
Mayer:
We have a very large tendency towards price increases, especially in the new building sector.
This can also be problematic if too many apartments are used as second homes and thus lack the community because the locals can no longer afford these prices.
In any case, Corona has not harmed the trend towards real estate, has it?
Mayer:
Certainly not in our region.
Precisely because of the experience that home office works and that you don't have to drive to work every day, the pressure on home plots outside the public transport axes has increased.
People buy at Munich prices without batting an eyelid.
So should more be built?
Mayer:
You can't put it that way.
The area of multi-family houses is relatively good, but here the owners of high-priced apartments are more active.
Even single houses are being built sufficiently.
So enough is offered, but the price pressure from high offers is great.
There is relatively little on the market for undeveloped building plots.
It is dramatically low for commercial space.
Commercial real estate is trading very weakly.
This could have a negative long-term impact on economic development in the district.
Does that mean the imbalance continues to grow?
Mayer:
Yes.
We are observing this imbalance in the Tegernsee Valley in particular, but the advisory committee can only report on it.
It would be good if the affordable properties were in good proportion to the properties used for tourism, if there were enough commercial properties of various types.
Then the working population would not have to commute as much and all population groups would have housing.
Then we would be in harmony.
The remaining parishes
For the communities not shown in the graphic, the following index values were determined for 2020 - also based on the value from 2010: Bad Wiessee 331, Bayrischzell 248, Fischbachau 372, Hausham 348, Irschenberg 322, Otterfing 299, Rottach-Egern 319, Waakirchen 263 , Weyarn 363.
