Demand for owner-occupied flats across Germany rose by 63 per cent within a year. In the major cities, demand from buyers increased by 78 per cent. A recent ImmoScout24 analysis shows which flats are currently most sought after in Germany and its eight major cities.
What are prospective buyers looking for?
Interest-rate cuts by the European Central Bank are further stimulating demand for flats to buy. While the key interest rate is currently one percentage point lower than it was a year ago, demand for owner-occupied flats across Germany is 63 per cent higher. Germany’s most sought-after flat has three rooms, 74 m² of living space and costs 320,000 euros. The most sought-after flat is largest in Frankfurt am Main, with 81 m² of living space, and smallest in Munich, with 69 m². According to ImmoScout24’s analysis, the expected prices for the most sought-after flat range from 220,000 euros in Leipzig to 562,000 euros in Munich.
“Interest in buying an owner-occupied flat is growing. We can see this in the rising contact rate on our portal. Demand is particularly strong for three-room flats with around 75 square metres of living space and energy efficiency class D,” says Dr Gesa Crockford, Managing Director of ImmoScout24. “It is still a buyer’s market, meaning that prospective buyers have a wide choice and scope to negotiate in their favour.”
Germany’s most sought-after flat: 3 rooms and 74 square metres of living space
Measured by enquiries on ImmoScout24, Germany’s most sought-after owner-occupied flat has three rooms and 74 square metres of living space. The most sought-after flat is similar in most German major cities: in Berlin, Düsseldorf, Cologne, Leipzig and Stuttgart, three-room flats measuring around 75 square metres receive the most enquiries. At 71 square metres with three rooms, the most sought-after flat in Hamburg is slightly smaller. The flats in greatest demand in Munich are smaller still, with 69 square metres divided between two and a half rooms. At 81 square metres across three rooms, the most sought-after owner-occupied flat in Frankfurt am Main is the largest of the major cities.
Across Germany and in six of the eight major cities, the most sought-after flat to buy has the mid-range energy efficiency class D. Buyers in Leipzig look for a slightly more energy-efficient class C flat, while the flat in greatest demand in Stuttgart has the slightly poorer class E rating.