In 2021, the average rent in Munich was approximately 17.61 euros per square meter. This was an increase from the 17.09 euros reached in the previous year. But how does renting compare to buying? According to the house price to rent ratio, renting in Germany is much more affordable.
Affordability of housing
In 2020, Germany ranked sixth countries with house price to income ratio of 122.8. The indicator compares the affordability of housing across OECD countries and is calculated as the nominal house prices divided by nominal disposable income per head. A ratio higher than 100 means that the nominal house price is higher than the nominal disposable income per head, and housing is therefore comparatively more affordable.
Housing in Munich
Just as with renting, Munich was the most expensive city for newly built apartments. In the first quarter of 2021, the cost per square meter in Munich was over 2,000 euros higher than in the runner-up city Frankfurt.
Average rent price of residential property in selected cities in Germany from 2012 to 2nd quarter 2021
(in euros per square meter)
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empirica. (January 21, 2022). Average rent price of residential property in selected cities in Germany from 2012 to 2nd quarter 2021 (in euros per square meter) [Graph]. In Statista. Retrieved May 28, 2022, from https://www.statista.com/statistics/801560/average-rent-price-of-residential-property-in-germany-by-city/
empirica. "Average rent price of residential property in selected cities in Germany from 2012 to 2nd quarter 2021 (in euros per square meter)." Chart. January 21, 2022. Statista. Accessed May 28, 2022. https://www.statista.com/statistics/801560/average-rent-price-of-residential-property-in-germany-by-city/
empirica. (2022). Average rent price of residential property in selected cities in Germany from 2012 to 2nd quarter 2021 (in euros per square meter). Statista. Statista Inc.. Accessed: May 28, 2022. https://www.statista.com/statistics/801560/average-rent-price-of-residential-property-in-germany-by-city/
empirica. "Average Rent Price of Residential Property in Selected Cities in Germany from 2012 to 2nd Quarter 2021 (in Euros per Square Meter)." Statista, Statista Inc., 21 Jan 2022, https://www.statista.com/statistics/801560/average-rent-price-of-residential-property-in-germany-by-city/
empirica, Average rent price of residential property in selected cities in Germany from 2012 to 2nd quarter 2021 (in euros per square meter) Statista, https://www.statista.com/statistics/801560/average-rent-price-of-residential-property-in-germany-by-city/ (last visited May 28, 2022)
