Together with real estate expert Prof. Dr. Stephan Kippes, we discussed current developments relating to purchase prices, demand, financing and political framework conditions.
We have summarized the most important key statements for you:
Munich shows first price increases - but not in all segments
After a long phase of uncertainty, the Munich property market is showing the first signs of stabilization or a slight trend reversal. According to the latest IVD Residential Market Report, there were slight price increases again in almost all segments, particularly in spring 2025: Existing owner-occupied apartments rose by +2.0%, newly built mid-terraced houses by +1.7%, as did semi-detached houses and new-build apartments by +1.5%. Only building plots continued to decline. “We are seeing a noticeable upturn - buyers and sellers are finding each other again, provided the price and quality are right,” explains Norbert Verbücheln. "At the moment, some buyers still have considerable room for negotiation to acquire properties at a slightly lower price. Those who are flexible and pay attention to quality can benefit from good properties at fair prices."
Taxation of additional gains
Prof. Kippes considers the risk of the future German government changing the tax exemption for additional gains on sales after 10 years to be low: “Why should real estate investments be treated so much worse than other investments?”
Further regulation of furnished rentals would be counterproductive
Another important aspect that came up in the webinar: The importance of furnished rentals - not only as a form of investment, but also as a response to the increasing mobility required in the labor market. "Furnished rentals are a crucial building block for mobility on the housing market. Working people in particular who move to a city for a limited period of time need flexible forms of housing - without having to move their entire household. Excessive regulation here would not only scare off investors, but also prevent urgently needed living space," says Prof. Kippes.
Comparison with other cities: Munich remains the frontrunner - in terms of prices and momentum
While many Bavarian cities are still struggling with price declines - e.g. Fürth (-1.2%) or Ingolstadt (-0.8%) - Munich completed the trend reversal earlier, according to the latest IVD analyses. In a 10-year comparison, the price increase for owner-occupied apartments is a remarkable +55 % to +59 %. Mid-terraced houses (+48%) and semi-detached houses in new builds (+65%) also confirm Munich's position as a top location with stable values.
Our conclusion and recommendation
The webinar showed that many buyers are currently caught between uncertainty about further interest rate developments and concerns about rising prices. They are weighing things up carefully, paying more attention to energy efficiency, condition and location. Sellers, on the other hand, are asking themselves whether now is the right time to sell and are faced with the challenge of finding prices in line with the market. After all, only properties that are realistically priced and of convincing quality will find a buyer quickly.