The condominium market in Munich picked up noticeably at the beginning of the year: the number of contracts rose by around 8.8% year-on-year to a total of 1,485, while cash turnover increased by 6% to EUR 792 million. This is confirmed by the latest evaluations of the Munich appraisal committee, of which the managing director of Aigner Immobilien GmbH, Thomas Aigner, is also a member. However, there were shifts within the price segments. It is clear that the housing market is divided. One of the main reasons is the interest rate environment.
At the beginning of the year, the Munich condominium market shows a marked distribution of purchase contracts and cash turnover in the various price segments. For apartments under 300,000 euros, the number of contracts rose sharply by 23%, but turnover by only 9%. There was also stable growth for apartments in the range of 300,000 to less than 600,000 euros (purchase cases: +around 6%, turnover: +around 8%). Increases were also recorded in the upper class – apartments from 900,000 euros – 16% in transactions and 17% in cash turnover.
