The capital of Bavaria - A home to art, history, culture, technology, and real estate enthusiasts
Discover Munich's Real Estate
Ranked as an Alpha Global city in 2019 by Globalization and World Cities Research Network, owning a property in Munich is an appealing prospect for many and a reality for fewer. Being the 12th largest city in the European Union and the second most visited city in Germany, Munich is home to art, history, rich culture, technology, and real estate enthusiast.
Culture, History, and Business
Munich, also referred to as the “Home of the Monks,” has a history (dating back to the days of the ancient kings), architectural and cultural appeals that are ranked among the very best in the world. Many historic structures like the Peterskirche, Munich’s cathedral, the 14th-century gates (Karls, Sendlinger and Isar), etc. stand in testimony to the city’s rich past. The city is also home to Oktoberfest, which happens to be the biggest beer festival in the world.
The business and economy sectors in Munich are not to be overlooked either. Munich has the strongest economy among all the German cities, and one of the strongest economic cities in the European Union. Home to tech, service sectors, and automobiles, many global manufacturing brands have their headquarters here, including BMW, Siemens AG, MAN AG, Rohde & Schwarz and many more. This additionally increases the property demand for those wanting to relocate here in search of new or better career opportunities.
Real Estate Appeal
Munich is the most expensive city to buy real estate in Germany, only second to Hong Kong at risk of a bubble. The average price per square meter in this city is €7,630, compared to €2,993 in other German cities.
However, due to the constant demand for real estate in the city, it is still profitable to invest in its properties as the prices are on a constant upward trend. This makes it one of the best cities to invest in real estate in 2020. You can expect to pay the highest price in historical center areas like Schwabing, Au-Haidhausen, and Bogenhausen – Isarvorstadt. Bogenhausen – Isarvorstadt is the main site for the world-famous Oktoberfest, making it the liveliest part of Munich.
Looking at the market figures and analysis, spikes in property demand can be noticed throughout the whole year from multiple sides – those looking to relocate here permanently and investors looking to put their money into one of the world’s most profitable real estate markets with a stronger economic base.
For anyone looking to invest in Munich’s real estate and is wondering which neighborhood to target and why to invest in Munich, we will discuss these topics extensively in our succeeding articles.
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