The number of sales in the 2024 reporting year increased by 18% to 1,811 sales contracts. The situation was similar for monetary turnover, which rose by 17% to €894 million. 

Trading in condominiums and partial ownership properties comprised 1,005 sales (+11%), with turnover rising by 18% to €285 million. The number of first-time sales increased by 73% to 88 transactions, while turnover doubled to €59 million. The average purchase price of a new-build apartment with around 76 m² of living space remained relatively stable at €7,943 per m² (+2%).

In the case of used apartments and partial ownership, the monetary turnover increased noticeably to €226 million (7%), while the number of sales rose to 917 (+8%). Initial sales after conversion (52 sales) played only a minor role with €12.8 million.

The purchase prices of resales averaged between €4,239/m² living space (Drais) and €2,710/m² living space (Marienborn) over a two-year period. In prime locations in the city center (31 transactions), an average of €7,010/m² living space was paid.

For developed land for single-family and two-family homes, the number of sales rose to 369 (+29%), with the corresponding increase in monetary turnover to €220 million (+31%). The most popular properties were terraced and end-of-terrace houses with purchase prices between €400,000 and €698,000, followed by detached single-family houses between €420,000 and €905,000.

The purchase price of a turnkey new-build end-of-terrace house (151 m² living space) with a basement and a 256 m² plot (3 KF) was around €921,000 (€6,129/m² living space). Newly built semi-detached houses (7 rooms, 165 m² living space) on 274 m² plots cost around €1,240,000 (€7,545/m² living space).

Sales of multi-family houses rose significantly by 53% compared to the previous year to €188 million, while the number of sales transactions increased by 34% (83 KF).

In the commercial property market, monetary turnover declined once again to €132 million (-13%), while the number of sales transactions rose to 35 (+40%).

The market for building-ready land fluctuates greatly, as it is directly dependent on the designation of new building areas. The proportion of undeveloped land (residential) sold fell slightly by 10% to around 3 hectares, while the monetary turnover remained stable at around €54 million. The area of commercial land ready for development (3 KF) sold fell to 1.1 hectares (-33%), while the monetary turnover (-63%) reached around €4.7 million. 

42 sales of agricultural land were recorded (-48%). The area turnover declined to around 14 hectares (-44%) – the monetary turnover shrank accordingly by 38% to around €2.6 million. 

With reference to the BauGB, key figures for the application of mathematical valuation methods (real value and income value methods) must be provided, among other things. Furthermore, the GMB publishes studies on so-called submarkets (e.g., garden land, parking spaces, etc.).

Since 2015, the office has been offering simplified procedures for determining approximate values for used residential property and individual housing construction. Calculation tools can be found on our website under the Downloads menu item.