Could You Afford a Vacation Home in Germany? Check Out the Prices in These 5 Cities
Known for its stunning landscape, historical sites, and of course, good food and beer, Germany is a desirable destination that welcomed over 183 million tourists in 2023. It’s not only a beautiful place to visit but to live. The crime rate is low due to the strict laws, the country has a strong healthcare and education system, and with careful budgeting and smart choices, the cost of living is manageable. With home prices rising in the U.S. — the national median price for a single-family home has jumped to $391,700 according to the National Association of Realtors — it might make sense to invest internationally in a vacation home.
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Here’s a look at five popular German cities and the current housing prices from cheapest to most expensive.
Dresden
Estimated cost: $122,397 to $518,323
Dresden has a vibrant art scene, fascinating culture, and affordable housing. You can buy a small apartment with a view of the city for a great price.
Magdeburg
Estimated cost: $229,551 to $1,494,794.00 million
You can grab a charming three-bedroom, one-bathroom house for less than you can buy anything in many states. Situated at the Elbe River, Magdeburg is a dynamic city that’s one of the cheapest locations in Germany to buy a home.
Berlin
Estimated cost: Per square meter price at $5,125
Berlin’s unique blend of lively culture and history mixed with fashion, nightlife, and food make the city a popular European hotspot. It’s a moderately priced location that’s easy to get around and has plenty to see and do.
Munich
Estimated cost: The square meter price of houses average $10,600
Enjoying the natural beauty, closeness to the Bavarian Alps, and high quality of life in Munich will cost you. The city has always been costly, but to avoid blowing your budget exploring the area, take advantage of the free attractions such as the Englischer Garten, stroll around the Marienplatz square, or take in the Viktualienmarkt.
Garmisch-Partenkirchen
Estimated cost: $843,759 to $6,835,411 million
Outdoor enthusiasts are drawn to the Alpine ski town in Bavaria, southern Germany, for year-round adventures. From skiing to hiking and swimming, there are numerous activities to keep you busy in this quaint and whimsical, but at a high price.
Things to Consider
The affordability of buying a vacation home in Germany depends on the income in the area you’re looking for. According to Statista, “High-income areas often tend to have more expensive housing, which does not necessarily make them unaffordable.” The site also added, “The house price to income index measures the development of the cost of housing relative to income. In the first quarter of 2023, the index value stood at 120.8, meaning that since 2015, house price growth has outpaced income growth by about 21 percent. Compared with the average for the euro area, this value was higher.”
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