Munich is still the most expensive city in germany for rents and purchase prices, but other regions in bavaria are slowly catching up. In a recent city ranking, in which the development of existing rents between 2007 and 2012 was examined, bamberg came in 6th place with an increase of 26.5 percent. And even finished ahead of munich. In the state capital, however, prices have been at such a high level for some years that the percentage increase is no longer quite so high.
Attractive medium-sized towns in bavaria attract investors
What many bambergers have known for a long time has now been proven by studies: bamberg is attractive and sought after by investors. In the GMA ranking for medium-sized towns and cities, which determined the most interesting locations from a retail point of view, aschaffenburg took first place, but bamberg came in fourth. Rank still in the top 5. This means that two french cities are represented in top positions, which illustrates the high potential of this region and gives investors hope for good future prospects. As far as the housing market is concerned, bamberg has long been regarded as a secure location with good prospects. Here, too, the result for many residents is that rents are rising and living space is becoming increasingly scarce.
Price increases in bamberg: both buy and rent properties affected
The promising future prospects of bamberg, combined with low interest rates for loans and the euro crisis, are leading to a flight into so-called "concrete gold" has led to a sharp rise in rental and purchase prices in the city. Highest prices of 17 euros per square meter for rental apartments in top locations are no longer a rarity here either. With an average rent of 9 euros per square meter, as calculated by a real estate portal, bamberg is one of the most expensive cities in germany. The situation is aggravated by the fact that the proportion of apartments with a social commitment is becoming smaller and smaller. Over a period of 12 years, the number of price-linked apartments at stadtbau gmbh alone has fallen by over 50 percent.
At up to 420 euros per square meter, building land in bamberg has also become expensive. The prices for building land are also one of the reasons why hardly any affordable housing is currently being created in bamberg. In combination with strict energy requirements for new buildings, the realization of new housing is so expensive that it is difficult, at least for commercial builders, to build affordable housing.
According to a recent LBS survey, prices for owner-occupied apartments in bamberg average between 2,500 and 3,000 euros per square meter for new construction, while prices for existing apartments range between 1,300 and 2,200 euros per square meter. On average, the prices ranged between 1750 and 2750 euros per square meter. Homes cost on average around 290.000 euro, with top prices of 380 euros depending on the location.000 euros and more. The prices for existing homes, on the other hand, range between 160.000 and 300.000 euros, whereby for well-located, center-near single-family houses also over 500.000 euros are paid.