Overview

• Residential property prices in Munich declined between 2 and 12 percent in 2024, extending a downward trend since 2022.
• Munich remained Germany’s most expensive major city, with prime land selling for up to 3,350 euros per square meter and average ownership flats fetching around 630,000 euros.
• High-end deals drove record luxury transactions, highlighted by the 265 million euro sale of Welfengarten and the 710 million euro transfer of Fünf Höfe.
• Total market turnover jumped 51 percent to roughly 11.4 billion euros, while purchase contracts rose by 34 percent but stayed below the decade’s average.
• Buyer uncertainty has kept market sentiment mixed, and rental prices are forecast to climb due to a shortage of new construction and inflows of tech workers.