TD News International
The average home costs €242,000
Home buyers in Germany are paying an average of €242,000 for their properties, which corresponds to about six times the average annual net household income. In Munich, apartments selling for that price are only 44 sqm in size. In Düsseldorf (84 sqm), Berlin (98 sqm) and Cologne (88 sqm), they are comparatively much larger. In Munich, purchase prices run 12.9 times the annual household income, in Berlin 8.7 times, and in Düsseldorf 7.5 times. These are the results of a study commissioned by Sparda Banks and conducted by the Institut der deutschen Wirtschaft Köln Consult and the Institut für Demoskopie Allensbach. Other insights: Most Germans do not want to commute more than 30 km to work. 46 % of German citizens own their homes. A quarter of renters under the age of 50 are planning to buy a home.
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