Real estate prices Munich 2026

Ranges approximately between € 7,340 and € 10,895/m²

Strong real estate market in Munich

Munich has grown strongly in recent years. As the third-largest metropolis in Germany, the city of over 1.5 million inhabitants is in high demand as a place to work and live.

At the beginning of 2026, the real estate market in Munich is in a generally stabilized state. Following the significant corrections of previous years and the temporary fall in purchase prices, the market has consolidated noticeably. Current supply data for Munich shows an average value of around €8,165/m² for condominiums in February 2026 and around €9,214/m² for houses. This suggests that the recovery will continue at a high level - without a return to the extreme dynamics of the boom years. At the same time, location, property quality and realistic prices remain decisive for sales success.

Pricing: What is your property in Munich worth?

Anyone selling a property in Munich needs an experienced market professional to determine a fair market price. Now that prices per square meter have risen over a long period of time and the market has developed in a much more differentiated way since 2022, pricing today requires special care.

The experienced real estate consultants at Mr. Lodge develop a sensible, individual sales strategy. When determining the right property price, they also take into account what buyers in Munich can currently afford, the financing situation and the target group in which the property on offer has the best chances of selling. Especially in a market where good properties are still in high demand, but buyers are also more selective, a precise valuation is more important than ever.

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Development of Munich real estate prices

Real estate prices in Munich have been at a very high level for years. If you look at purchase prices for condominiums, there is still a clear upward trend over the long term - despite the correction phase of recent years.

At the beginning of the 2010s, prices per square meter for condominiums in Munich were still at a significantly lower level. In the years up to 2021/2022, there was then - depending on the data basis and segment - a massive price increase to regions of around €9,000 to €9,500/m². This corresponds to a near tripling of prices in many market segments within around ten years.

This steep price increase reached its temporary peak in 2021/2022. After that, prices per square meter in Munich initially fell. In particular, the rise in interest rates, higher financing costs and a change in buyer psychology led to a noticeable price correction in 2022 and especially in 2023. However, stabilization has been observed again since 2024. The more recent data sets show slight increases in asking prices for condominiums again for 2024 and 2025; this trend continues moderately at the beginning of 2026.

Development of asking prices for condominiums in Munich from 2012 to the 1st quarter of 2026 (in euros per square meter)

Purchase price development Munich apartment

Excluding capital investments and new construction

Development of offer prices (2012-Q1 2026)

Fig. 1: Average asking prices for condominiums in Munich (euros per m²). Prices have risen sharply since 2012 - from significantly lower levels to peaks in 2021/2022, followed by a correction phase and stabilization since 2024/2025.

The chart illustrates the long-term upward trend and the most recent changes. Between 2012 and 2019, the average asking prices of Munich apartments increased significantly in many years. The increase initially continued in the following years and reached its temporary peak in the high price environment of 2021/2022. This was followed by a price correction as a result of higher interest rates and stricter financing requirements. However, the current data shows a stabilization again: For Munich, asking prices for condominiums at the beginning of 2026 average around €8,165/m². This means that prices are still well above the level of previous years despite the declines in previous years.

These figures illustrate the development of asking prices for condominiums in Munich in the period from 2012 to 2026. In February 2026, the average price paid to buy a condominium in Munich was around €8,165 per square meter of living space (asking price data). The actual market price can vary significantly depending on the location, condition, energy efficiency and property type.

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Prices per square meter in Munich: Current development

The prices per square meter in Munich are often used by buyers and owners as a reference value for property valuation. However, the average values from the Munich districts cannot be used to determine with certainty how much a specific property actually costs. This requires the experience of a long-standing market expert like Mr. Lodge, because apartments and houses are very individual and a number of value-determining factors must be taken into account.

Nevertheless, trends can be identified in Munich that influence prices per square meter. Despite the correction phase of recent years, Munich remains one of the most expensive real estate locations in Germany. Current market data - depending on the source and calculation method - continues to show high average or median values for apartments. While listing data portals currently show around €8,165/m² for condominiums and around €9,214/m² for houses, other market models (e.g. median values from large data pools) also show some apartments at around €9,179/m². These differences underline the importance of classifying the data source.

Prices per square meter for buyers in Munich 2026

For potential buyers, the average price per square meter for existing properties in Munich 2026 - depending on location and segment - is often in the range of around €8,000 to €8,500 per m². In sought-after districts such as Altstadt-Lehel, Maxvorstadt and Schwabing, prices in good to very good locations remain significantly higher and can still be well above €10,000/sqm for high-quality properties . Significantly higher values are also possible in top segments. At the same time, lower entry-level prices can still be realized in peripheral districts such as Aubing-Lochhausen-Langwied, Trudering-Riem or parts of Pasing-Umfeld. The range in 2026 will therefore remain wide and highly location-dependent.

For buyers, the market phase after the correction of 2022/2023 continues to offer opportunities. Anyone buying in 2026 will find offers in many places that - depending on the segment and location - are still below the highs of the boom years. At the same time, the negotiating position is not equally strong in every segment: well-designed, energy-efficient and attractively located properties will remain highly competitive. However, those who can secure solid financing and calculate realistically will continue to find interesting entry options on the Munich real estate market in 2026.

Prices per square meter for owners in Munich in 2026

Owners in Munich can continue to benefit from high prices per square meter in 2026. Average prices in central locations will remain at a very attractive level, enabling good sales values in prime locations. In districts such as Laim, Moosach or Sendling, the achievable price depends even more on the micro-location, condition, year of construction, floor plan quality and energy quality of the property - and can vary considerably depending on the property.

For owners, 2026 is an interesting year to examine sales opportunities: The market is no longer characterized by the uncertainty of the strongest correction phase, while at the same time buyers are paying more attention to value for money and property quality. A thorough market analysis is therefore advisable in order to set realistic price targets, activate demand optimally and avoid unnecessary marketing times. Attractive sales results can still be achieved, particularly for high-quality properties or properties that are very easy to let.

Which Munich districts are the most lucrative?

Anyone looking to sell a house or apartment in Munich benefits from the location's continued high level of attractiveness. The most popular districts are still located around the city center and Munich's Altstadt. There are nightlife options of all kinds and culinary offerings for every taste.

The city of Munich is alive and always close to the pulse of the times - this is particularly noticeable in the districts near the historic center. Nevertheless, there are also other lucrative districts in and around Munich. Even if places like Germering, Unterhaching and Unterföhring are not always at the top of the popularity scale for students, families or older semesters like to live in these somewhat quieter areas in the surrounding area. Depending on the type of property, this can mean very attractive target groups for owners.

Naturally, demand is also reflected in the price per square meter: the more popular the district, the higher the purchase price. Munich continues to be one of the most expensive cities in Germany, so living space remains in demand in almost all districts. At the same time, the market is more differentiated today: in prime locations, quality and location are being paid above average, while price reductions are more clearly visible in less sought-after micro-locations.

Based on asking rents and market perception for apartments at the beginning of 2026, central locations and those close to the city center such as Altstadt-Lehel, Maxvorstadt, Ludwigsvorstadt-Isarvorstadt, Schwabing (including Schwabing-West) and Au-Haidhausen remain at the top of the list. Depending on the property, very high net cold rents can be achieved in these districts; in some cases, asking rents in premium locations are well above the Munich average. Overall, the rental market will remain tight in 2026.

Fig. 2: Average residential rents (net cold) by Munich district - Q1 2026 (euros per m²).
The most expensive districts remain well above the city average, while peripheral districts are noticeably cheaper.

Rents also vary significantly depending on location. The qualified rent index Munich 2025 shows an average local comparative rent of €15.38/m². However, asking rents for new lettings are regularly higher. Market portals and evaluations for 2026 continue to show a high rent level for Munich overall; depending on the source, median and asking rents for apartments are significantly higher than the rent index value. Overall, the range of rents - from comparatively moderate locations to very high-priced city center locations - shows the strong dependence of housing costs on location in Munich.

Sources: Market reports and price data from real estate portals, qualified rent index Munich 2025 and market analyses. Unless otherwise indicated, all values refer to supply data or modeled market data.

As financing costs continue to rise, many prospective property buyers can only afford to buy their own home or condominium to a limited extent. The financial strength of potential buyers has become more selective and therefore the decision-making period has become longer, although the basic demand in Munich remains high. Accordingly, the diligence of a market expert with many years of experience, such as Mr. Lodge, is important for determining a sales price in line with the market.

In general, properties in Munich currently cost around €7,500 to €11,500 per square meter, depending on location, segment and property quality. In addition, there are cheaper peripheral locations/special cases as well as significantly more expensive premium properties in prime locations. Anyone deciding to buy in Munich today will find lower price levels in many segments than in the absolute peak years before the market correction. However, this does not apply to all properties: energy-efficient refurbished properties or properties with efficient, low-carbon heating systems are recording lower price reductions in some cases, as they are in particularly high demand. In a nationwide comparison, Munich therefore remains at an exceptionally high purchase price level.

Determine real estate value

In 2026, the residential real estate market as a whole is in a phase of recovery and reorganization. Compared to the peak phase of market uncertainty, the situation has improved significantly. At the same time, the market picture is more differentiated: supply has increased in some segments, while particularly attractive properties remain scarce and in high demand. Thanks to slightly better planning certainty for financing and a more stable price environment, we expect buyer interest on the Munich market to remain solid in 2026. Furnished apartments and houses remain attractive investment opportunities, especially in sought-after locations. This means that the current situation remains favorable for many property owners who want to sell their property - whether owner-occupied or rented - provided that the pricing approach and marketing strategy are chosen professionally.

Real estate sales process with Mr. Lodge

With Mr. Lodge as your partner, nothing stands in the way of the successful sale of your property. We have been working as estate agents in Munich and the surrounding area for over 30 years and know the market inside out.

When it comes to selling your property, we act routinely and professionally. We proceed as follows:

Personal viewing: The first step is for us to inspect the property. The best way to analyze the advantages and weaknesses of a property is on site.
Valuation & pricing: The next step is the property valuation. We determine the achievable sales price and discuss what measures could be taken to increase the proceeds. As the owner, you can carry out modernizations if necessary to further increase the value of your property. For perfect staging, we also offer you a home staging service. Our interior design team will furnish your property with style and care so that prospective buyers can directly experience the potential of their future home. Studies show that this method achieves significantly higher sales proceeds.
Documents & marketing: The next step is to review and check the completeness of the documents provided. We advise you as the owner on which documents are necessary for a successful sale and organize these on your behalf, if desired. Our commission is transparent and our payment is based on a performance-based commission.
Exposé & listings: To create an exposé of your property, our in-house team of photographers will take appealing pictures and videos of your apartment or house. We summarize the key data of the property and publish the exposé once on our homepage and also on all relevant real estate portals. This ensures that your offer reaches as many potential buyers as possible.

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To create an exposé of your property, our in-house team of photographers will take pictures and videos of your apartment or house and summarize the key data of the property. We publish this on our homepage and on the well-known internet portals.

In the next step, we think about the target group for your sale: Is it more likely to be the young couple with children, the student whose parents can afford the apartment for their child or is it more likely to be older people who are interested in buying the property?

Depending on the target group, our team will come up with a suitable marketing strategy. Not every channel is suitable for all interested parties. While young people are always mobile and use platforms such as TikTok or Instagram on a daily basis, the situation is very different for older people. Prospective property buyers of a certain age use real estate portals or advertisements in established print media to find the house or apartment of their dreams. There are countless possibilities and it is important to make the best possible use of the potential.

In order to find the ideal prospective buyers for your property, we proactively compose mailings for a direct customer approach. As further communication measures, print media and notices in our shop windows in Munich and Rottach-Egern are used to generate attention. Potential buyers are targeted by us and additional interested parties are proactively sought. For you as the seller, this means that you are kept continuously informed about the status of marketing. The progress of negotiations and the next steps in the sales process are also discussed with you as the owner and then implemented.

We then arrange viewing appointments with seriously interested parties, either personally or on your behalf. Naturally, tenants and you as the property owner will be involved in this process in an informative manner. We always work hand in hand here.

We are also a competent partner when it comes to sales negotiations and conditions. We also support potential buyers in taking out a mortgage.

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Last but not least, the notarized purchase agreement is drawn up by a notary according to our specifications. We discuss this with you as the owner in advance and accompany you to the notary appointment at the end, where the sale of the property is sealed with the signatures of all parties involved.

Why is it a good idea to work with us when selling real estate?

As a local estate agent, we are experts in the Munich real estate market. We have a large network and analyze market developments on a daily basis. We know which property types and which districts are currently in demand and provide professional advice when negotiating prices with prospective buyers.

With years of expertise and a highly professional and multilingual team, we have a wealth of experience - including with international buyers.

We understand the market and can achieve the optimum sales price for you. We take on all the tasks for you to ensure the success of your real estate sale.

Forecast real estate prices 2027

Property prices in Munich are expected to remain at a high level in 2027. Following the significant correction phase and subsequent stabilization in the years 2024 to 2026, a widespread fall in prices is currently rather unlikely. A differentiated development is more likely: Prices could increase moderately in particularly sought-after locations, while they are more likely to remain stable or fluctuate only slightly in peripheral locations or for less attractive properties.

A continued moderate interest rate level in the area in which financing for owner-occupiers generally remains feasible is unlikely to trigger extreme price momentum, but may support demand. In sought-after districts such as Schwabing, Altstadt-Lehel and Maxvorstadt, this could lead to slight price increases, while in less central locations such as Aubing or parts of Moosach, a sideways movement is more likely. For 2027, many factors point to a stable to slightly positive market trend - provided that the macroeconomic environment remains free of major shocks. This assessment is a continuation of the market recovery observed in 2025/2026 and the moderate upward trend expected nationwide.

Factors influencing price trends in 2027

Moderate interest rates: If financing conditions remain moderate, home ownership will remain affordable for affluent target groups. Major upward jumps in interest rates could dampen demand, while significant interest rate cuts would tend to boost price momentum.
Supply bottlenecks and selective shortages: The housing market in Munich remains structurally tight. Although supply has increased at times in individual segments, high-quality, well-located and energetically attractive properties remain in short supply. This is stabilizing prices, particularly in good and very good locations.
High demand: Munich remains highly sought-after as a business, technology and innovation location. Owner-occupiers and long-term investors in particular are likely to continue to enter the market in 2027, provided the financing and price-performance ratio are right. Demand will therefore remain a key factor supporting price trends.
Energy efficiency and property quality: Energy efficiency, the degree of modernization and operating costs will continue to gain in importance. Properties with a good energy balance and contemporary fixtures and fittings may continue to perform above average in 2027, while properties in need of major refurbishment may experience greater price pressure.

What buyers and owners can expect in 2027

In 2027,buyers will probably still have the opportunity to acquire properties at more rational conditions than in the boom years before 2022. Particularly in less central locations or for properties in need of renovation, there could be more moderate prices and scope for negotiation, which could enable an attractive market entry. In prime locations, on the other hand, potential buyers should continue to expect high competition and stable to slightly rising prices, as sought-after properties will remain in short supply there.

Owners in Munich can expect prices to remain at a high level overall in 2027. In sought-after locations, there is still an opportunity to achieve attractive sales prices. In peripheral districts or for properties in need of modernization, the achievable price is likely to depend more on professional marketing and a realistic pricing strategy. For owners in peripheral locations, an early market analysis can therefore be particularly useful in order to determine the best time to sell and the optimum asking price.

Conclusion: The Munich real estate market is expected to continue its recovery at a high level in 2027. Buyers will benefit from a more predictable market environment than in the boom years, while sellers - especially in prime locations - will still be able to achieve very good prices. However, close monitoring of market trends and professional valuation remain essential in order to operate successfully in this challenging market.

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Contact us, we will be happy to advise you:

Dr. Cornelia Koronakis
Consultant | Real Estate Sales
+49 89 340 823-546
cornelia.koronakis@mrlodge.de

How long have you been in the real estate industry? How did you get into the real estate industry?
I have been working in the real estate industry since 2004. As a lawyer with a doctorate, I worked at the Technical University after my maternity leave, was then responsible for various projects in an advertising agency and then came to the real estate business via a relocation company. Before joining Mr. Lodge, I worked for 13 years as an independent real estate agent for property developers and also brokered individual properties. I've been with Mr. Lodge since 2017 and feel very much at home here.

What do you particularly like about your job?
The variety of properties and the contact with people. Due to the international nature of the company, we also have a lot to do with English-speaking customers, which I like.

What makes Mr. Lodge stand out for you?
The great thing about Mr. Lodge is the whole background with photo & interior design consulting in the team, as well as the collegial and social interaction.

What is your favorite thing to do outside of work?
I have a large garden and a field where I grow fruit and vegetables. So I spend a lot of time gardening and in nature. But I also enjoy doing sport, especially chi gong and belly dancing. Spending time with my family and friends is particularly important to me.

Have you already bought or sold privately?
Yes, I bought my own 5-room apartment that I had been living in. The first sale was my own house, which was my start in real estate sales.

What would your dream property look like?
A little house or an apartment on the water, on a lake or river or preferably by the sea, but perhaps also in the mountains.

Edda Pucher
Consultant | Real Estate Sales
Real Estate Agent (IHK)
+49 89 340 823-544
edda.pucher@mrlodge.de

How long have you been in the real estate industry?
For 25 years.

What do you particularly like about your job?
The versatility in terms of properties and people.

What makes Mr. Lodge stand out for you?
The all-round carefree package of technical service, photo department, etc. The overall support that Mr. Lodge offers is particularly pleasant for sales.

What is your favorite thing to do outside of work?
Mountain biking in summer, ski touring in winter.

Petra Berger
Branch Manager Rottach-Egern
Real Estate Agent and Valuation (IHK)
+49 8022 981 31-1
petra.berger@mrlodge.de

How long have you been in the real estate industry? How did you get into the real estate industry?
With almost 40 years of experience in the hotel and tourism industry, most recently 15 years at Tegernseer Tal Tourismus GmbH, I have always enjoyed providing guests with a temporary home from home. In recent years, I have also been responsible for the area of relocation management. Potential investors were successfully connected with prospective buyers or operators. So it made sense for me to move into the exciting field of real estate services and train as a real estate agent and IHK appraiser. My role as branch manager for Mr.Lodge in Rottach-Egern has made a professional dream come true for me.

What do you particularly like about Mr. Lodge?
The trusting, free, good, but above all productive working atmosphere, the lived "togetherness and for each other", the open acceptance into an international team and finally the exciting field of activity with new challenges every day.

Have you already bought or sold privately?
Yes, my husband and I privately bought an older 1970s terraced house on Lake Tegernsee, which we renovated and embellished ourselves over many years. Our home has been affectionately christened "Quetschvilla".

How would you describe your private style of living?
I would describe our style of living as "rural - modern - cozy".

What is your favorite thing to do outside of work?
In addition to the many opportunities offered by the Tegernsee vacation region, I have also become passionate about Lake Garda. Here I enjoy Italian life, the delicious Italian specialties, the weekly markets and playing golf in mild temperatures. A good book for relaxation is also never to be despised.

Lisa Hessner
Director Real Estate Rentals
Graduate Real Estate Economist (DIA)
+49 89 340 823-45
lisa.hessner@mrlodge.de

How did you get into the real estate industry?
As a teenager, I wanted to work in the hotel industry and see the world. A few internships later, I wised up and knew that I wasn't suited to it. After six months as an au pair in Paris, I was interested in studying architecture, but quickly realized that I wanted to sit at a desk less and wanted more variety. I finally decided to train as a real estate agent. In 2017, I joined Mr. Lodge and a year later decided to do a part-time training course to become a real estate specialist. Mr. Lodge was very supportive of my decision. I am happy about this decision and enjoy going to work.

What do you particularly like about Mr. Lodge?
The open-mindedness and humanity. I always have the feeling that everyone is respected and welcome at Mr. Lodge. Whether landlord, tenant or employee.

Do you have any hobbies or hidden talents?
I started playing the guitar when I was seven and had lessons for 11 years. I enjoy playing everything from classical to popular. I even used to take part in a few competitions, but haven't had much time for them in recent years.

Which country would you like to travel to?
I would like to travel to La Réunion, a very small French island in the Indian Ocean near Mauritius. I would be particularly interested in the diverse landscape with volcanoes, gorges, forests and the blue sea.

What do you like best about Munich?
Munich is a pleasantly sized city. Not as small as my home town, where you can never leave the house without being recognized, and yet not so big that people behave completely anonymously. Here, even strangers are greeted on the street. I also enjoy the diversity of the different neighborhoods.

Norbert Verbücheln
CEO | Managing Director
+49 89 340 823-16
norbert.verbuecheln@mrlodge.de

How long have you been in the real estate industry?
I have been working in the real estate industry for over 30 years. Initially as a working student. During my studies, I worked in the real estate department of the former DG Bank and for two brokerage firms. My enthusiasm for temporary living led to the founding of Mitwohnzentrale in 1988.

What do you particularly like about Mr. Lodge?
The partnership-based relationship with the employees and the new challenges every day. And the fact that the employees here are very diverse and have different nationalities and international backgrounds.

What makes Mr. Lodge stand out for you?
The focus is on good service and the pleasure of working with people.

What do you particularly like about your job?
The variety of encounters with people from very different backgrounds. Feeling the joy and gratitude of customers when they have found a beautiful home through us.

What profession would you have chosen if you hadn't opted for the real estate industry?
Gardener and landscaper

Have you already bought or sold privately?
Yes, but I tend to keep a low profile. When you're very intensively involved professionally, you're glad to have some distance from the subject.

What would your dream property look like?
A country estate surrounded by fields and meadows

What is your favorite thing to do outside of work?
Reading, cycling, going for a walk

Dietmar Schlüter
Deputy Managing Director Authorized Signatory In-House Counsel
+49 89 340 823-21
dietmar.schlueter@mrlodge.de

How long have you been in the real estate industry? How did you get into the real estate industry?
For over 15 years. At the time, Mr. Lodge was looking for long-term support for expert landlord advice. My legal training, which I had completed in Munich as an assessor, was a very good fit.

What do you particularly like about Mr. Lodge?
The good working atmosphere, the international staff, the combination of practical and legal issues in my daily work and also the proximity to our clients. In addition, I always experience Mr. Lodge as an innovative and at the same time down-to-earth agency; this mixture is exciting. And it's always great to see how young employees grow and develop with their tasks.

What makes Mr. Lodge stand out for you?
Innovation, agility, customer proximity and an international workforce. Mr. Lodge is an authentic and owner-managed company in the best sense of the word, with a high-level corporate culture.

What do you particularly like about your job?
Finding solutions to our customers' questions. And of course the properties themselves: Dealing with floor plans and questions about the optimal use of a property are always exciting.

What would your dream property look like?
Where I live, I've done well: very nice neighbors and beautiful gardens all around. The mountains and the sea could be a bit closer.

What is your favorite thing to do outside of work?
Reading, hiking, meeting friends and family. And listening to good music.