The German real estate market is experiencing a trend reversal. Real estate prices are falling, albeit slowly. But is this trend also noticeable in holiday homes? This is how much holiday homes cost in the German holiday regions.
As FOCUS reports, there have been repeated reports in the recent past that prices for holiday homes are falling in many places. However, the portal warns of supposed bargains, where a closer look often reveals a catch. The low supply in top locations, for example by the lake, by the sea or in the mountains, which will only grow slowly due to the lack of space that can be built on, high construction costs and rising interest rates, is met with steadily growing demand and is thus keeping prices high or even let it rise further.
This is how much holiday homes in popular holiday regions in Germany cost
In its annual holiday real estate market report, Engel & Völkers analyzed “the market for second homes, holiday homes and holiday apartments in the most important holiday regions in Germany.” Overall, the agent for high-quality residential and commercial real estate considered “39 locations in ten different holiday regions on the North and Baltic Seas, in the Alps and in the Black Forest as well as on the largest lakes in the country in detail”, as stated in the “Market Report for Holiday Properties 2022”.
According to a study by Engel & Völkers, the highest prices for holiday homes in Germany are found on Sylt and on Lake Starnberg and Lake Tegernsee.
Holiday properties on the North and Baltic Seas
The price range for detached and semi-detached houses in a very good location on Sylt is up to 18 million euros. For rare and special collector’s items, however, even up to 30 million euros can be reached. Holiday homes, on the other hand, are a little more affordable on Büsum, for example: here the range for one- and two-family houses in a very good location is up to 750,000 euros, while the collector’s price comes to 1.1 million euros.
Buyers on Sylt also sometimes have to dig deep into their pockets for holiday apartments: the square meter prices for properties in very good locations are up to 22,000 euros, for collector’s properties sometimes up to 27,000 euros, while in Büsum you “only” pay for the square meter up to 6,500 euros or up to 7,500 euros for collector’s items. According to the holiday real estate market report, the islands of Norderney and Juist are also among the most expensive locations in the country for holiday apartments. In 2022, square meter prices in very good locations on Juist were up to 20,000 euros, on Norderney up to 26,000 euros and for exceptional properties even up to 31,000 euros.
As Engel & Völkers reports, the demand for holiday properties, especially on the North Frisian Islands, is higher than anywhere else in Germany and has increased significantly in recent years, especially due to the corona pandemic. For years, vacation property prices have been rising across the region. This is also due to the scarce supply.
Demand for holiday properties has also increased along the entire Baltic Sea coast – particularly sharply since the start of the pandemic. The center of the region is Timmendorfer Strand, where the highest prices and rents are quoted. For real estate in a very good location, the range for the price per square meter is between 10,000 and 15,000 euros – for collector’s properties even up to 20,000 euros. For one- and two-family houses in a very good location, the prices range up to 3.5 million euros, collector prices even up to 4.5 million euros.
However, the highest prices on the entire Baltic Sea coast are reached on the largest German island of Rügen, with prices for detached and semi-detached houses in a very good location of up to 4.7 million euros and top prices for collector’s items of up to 6 million euros. The square meter price for condominiums can be up to 16,000 euros and for collector’s items up to 20,000 euros.
Black Forest and Lake Constance
Another popular travel destination in Germany is the Black Forest. According to the holiday real estate market report, the price range for one- and two-family houses in a very good location on Titisee in the Black Forest is between 950,000 and 2.65 million euros, while the price per square meter for condominiums in a very good location is up to 6,700 euros – for exceptional properties up to 7,200 euros.
The prices are significantly higher at Germany’s largest lake, Lake Constance. Single and two-family houses in a very good location cost between 2 and 5.5 million euros here, and collector’s items even up to 11 million euros. For condominiums in a very good location on Lake Constance, buyers have to pay up to 15,000 euros per square meter, the collector’s price is 20,000 euros.
Bavarian lakes
There are also numerous popular locations for holiday properties in Bavaria, including the large lakes in Upper Bavaria, such as Lake Starnberg, Lake Tegernsee and Lake Chiemsee. As it says in the “Market Report Holiday Properties 2022” by Engel & Völkers, the prices at Lake Starnberg and Lake Tegernsee are among the highest in Germany and the price range for holiday homes in the premium segment has increased significantly compared to the previous year. Meanwhile, the prices for holiday apartments in very good locations on Lake Chiemsee have risen particularly.
The range for the price per square meter of condominiums in a very good location on the Chiemsee is between 8,000 and 10,000 euros, while detached and semi-detached houses cost up to 5 million euros – collector’s properties even up to 9 million euros.
For a holiday home on Lake Tegernsee, however, those interested have to dig much deeper into their pockets. Single and two-family houses in a very good location cost up to 16 million euros here, and collector’s items even up to 20 million euros. The price per square meter for condominiums in a very good location is between 15,000 and 20,000 euros and peaks at up to 30,000 euros.
At Lake Starnberg, the range for the price per square meter is somewhat lower at 10,000 to 16,000 euros, but up to 35,000 euros can be achieved for collector’s properties. The highest price for collector’s items among the detached and semi-detached houses in a very good location is up to 30 million euros, while the range in this category is 3 to 15 million euros.
The Bavarian Alps
According to the holiday real estate market report, the price range for detached and semi-detached houses in a very good location in the popular holiday resort of Garmisch-Partenkirchen in the Bavarian Alps is between 2.5 and 6 million euros, while a property in Füssen is significantly higher at 850,000 to 2.2 million euros is cheaper. While buyers pay up to 9 million euros for collector’s items in Garmisch-Partenkirchen, the top price in Füssen is 2.6 million euros.
For a condominium in a very good location, buyers in Garmisch-Partenkirchen have to pay up to 13,000 euros per square meter, the collector’s price is 15,500 euros. Meanwhile, the range for objects in Füssen is between 5,000 and 7,100 euros, while the top price is 7,500 euros.
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