Premium apartments are becoming more and more expensive – DAHLER analysis shows: In no other top 7 city are prices climbing as much as in Stuttgart
In the first quarter of 2026, prices for premium condominiums in Stuttgart rose more than in any other top 7 city compared to the same quarter of the previous year (Q1-2025). This is a key finding of the latest analysis by premium real estate agent DAHLER, which has taken a close look at the development of the market using data from ImmoScout24. For the analysis, the most expensive ten percent of offers advertised on ImmoScout24 in the first quarter of 2026 were considered. According to the analysis, demand for premium apartments, which was determined on the basis of the development of prospective enquiries registered by ImmoScout24, fell slightly (-3.0%), while supply increased (10.0%). Stuttgart’s premium house market is showing an opposite trend. With the total supply still low, supply and prices fell here.
The current analysis by DAHLER examines the most expensive tenth of all advertised condominiums and houses in the city area. With a median price of €7,950/m² for premium apartments and a median price of €9,181/m² for premium houses, Stuttgart ranks last among the top 7 cities in Germany in both categories. With €14,329/m² in the premium apartment segment and €14,621/m² in the premium house segment, Munich is at the top of the list in each case.
“Anyone who buys today checks the price more closely”
According to Björn Dahler, founder and managing director of premium real estate broker DAHLER, the European Central Bank’s key interest rate hike from 2.0% to 2.25% will lead to buyers in the German premium real estate market making even more selective decisions. “Buyers will take an even closer look: at the location, property quality, energetic condition, price and long-term intrinsic value. The fact is that those who buy today do so more consciously than in the years of low interest rates. At the same time, the premium segment remains comparatively resilient because many buyers have high equity ratios and do not have to base their purchase decision solely on the financing burden. The current interest rate decision is therefore unlikely to take demand out of the market across the board, but rather to increase the spread: very good properties in very good locations remain in demand, while location, quality and price must match even more precisely for less outstanding properties,” says Björn Dahler, classifying the change.
Supply and prices for premium apartments are rising, demand is falling slightly
In the premium apartments segment – defined as offers that have a price per square metre starting at €6,829 – the market is experiencing a dynamic development in supply and prices. The number of advertisements in the first quarter of 2026 increased by 10.0% compared with the first quarter of 2025. Prices per square metre also climbed by a median of 10.0% to €7,950/m² in the same period, which corresponds to the largest percentage increase among the top 7 cities.
Demand, which was determined in the DAHLER analysis based on the development of prospective enquiries registered by ImmoScout24, fell by 3.0%. Munich (-1%) and Stuttgart are thus the only top 7 cities where demand has fallen compared to Q1-2025.
“The development in the premium residential segment reflects the special situation of Stuttgart as a business location. Above all, the uncertainty in the automotive industry – characterized by transformation pressure, cost-cutting programs, possible job adjustments and weaker demand in important sales markets – is likely to contribute to the fact that purchasing decisions in the premium segment are currently being weighed up even more carefully and sometimes postponed. We are observing that many prospective buyers are adjusting their original budgets downwards or postponing the search for residential property for the time being and are instead considering high-quality rental properties. At the same time, financing costs meet a still high price level. Against this background, the declining demand despite rising asking prices is understandable,” says Boris Mayer, owner of DAHLER Stuttgart.
“A detailed look at the individual districts shows that the increased supply is concentrated in a few sub-markets. Stuttgart-Nord and Stuttgart-West in particular have a high number of advertisements, some of which have been available on the market for a long time,” adds Mayer.
Premium houses: Less supply, significantly more interested parties
Prices for premium houses – which include properties with asking prices starting at around €6,829/m² – fell by 8.2% year-on-year to a median of €9,181/m². The supply was reduced by 5.3%. This makes Stuttgart the only city in the top 7 where the supply is declining.
“The figures show that many prospective buyers are making targeted use of the current market phase. After years of a very tense market, buyers today find more choice and in some cases more attractive entry prices. In my daily work, I observe that demand is increasing again, especially in the premium house segment. At the same time, supply remains scarce, as many owners hope for better market conditions and postpone a sale for the time being,” Mayer classifies the figures.
The premium housing market Q1-2026 compared to Q1-2025 at a glance:
- In the premium condominium market, the number of offers increased by 10.0% in the first quarter of 2026 (compared to Q1-2025).
- The median price in the premium segment of the condominium market in Stuttgart was €7,950/m² (+10.0% compared to Q1-2025).
- The premium condominium market recorded a 3% decline in demand in the first quarter of 2026 (compared to Q1-2025).
The premium house market Q1-2026 compared to Q1-2025 at a glance:
- In the first quarter of 2026, the supply on the premium market for houses – with a manageable number of offers – fell by 5.3% compared with the same quarter a year earlier.
- The median price in the premium segment in Stuttgart was €181/m², 8.2% below the Q1-2025 figure.
