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Sep 16, 2017

Poor yields in Germany's big cities


Last Updated: Sept. 16 2017
BERLIN
CHARLOTTENBURG-WILMERSDORF
Charlottenburg apartments
COST (€) YIELD (p.a.) PRICE/SQ.M. (€)
TO
BUY
MONTHLY RENT TO BUY MONTHLY RENT
<40 sq. m. 154,920 572 4.43% 3,873 14.29
60 sq. m. 259,740 837 3.87% 4,329 13.95
100 sq. m. 432,600 1,440 3.99% 4,326 14.40
>120 sq. m. 627,240 1,516 2.90% 5,227 12.63
Wilmersdorf apartments
<40 sq. m. 180,080 502 3.35% 4,502 12.56
60 sq. m. 253,680 906 4.29% 4,228 15.10
100 sq. m. 560,400 1,411 3.02% 5,604 14.11
>120 sq. m. 625,440 1,585 3.04% 5,212 13.21
Schmargendorf apartments
60 sq. m. 248,160 852 4.12% 4,136 14.20
100 sq. m. 566,600 1,364 2.89% 5,666 13.64
120 sq. m. 777,480 2,334 3.60% 6,479 19.45
Grunewald apartments
<40 sq. m. 157,160 702 5.36% 3,929 17.54
60 sq. m. 268,260 828 3.70% 4,471 13.80
100 sq. m. 511,400 1,141 2.68% 5,114 11.41
>120 sq. m. 727,320 1,649 2.72% 6,061 13.74
Westend apartments
<40 sq. m. 139,160 685 5.91% 3,479 17.13
60 sq. m. 211,860 806 4.57% 3,531 13.44
100 sq. m. 357,300 1,271 4.27% 3,573 12.71
>120 sq. m. 497,280 1,354 3.27% 4,144 11.28
BERLIN
MITTE
Mitte apartments
<40 sq. m. 194,360 839 5.18% 4,859 20.97
60 sq. m. 363,180 1,069 3.53% 6,053 17.82
100 sq. m. 657,000 1,625 2.97% 6,570 16.25
>120 sq. m. 853,680 1,890 2.66% 7,114 15.75
Moabit apartments
<40 sq. m. 162,520 n.a. n.a. 4,063 n.a.
60 sq. m. 232,200 1,172 6.06% 3,870 19.54
100 sq. m. 492,700 1,439 3.50% 4,927 14.39
>120 sq. m. 592,320 n.a. n.a. 4,936 n.a.
Wedding apartments
60 sq. m. 222,600 n.a. n.a. 3,710 n.a.
100 sq. m. 499,900 1,189 2.85% 4,999 11.89
>120 sq. m. 616,920 1,195 2.32% 5,141 9.96
BERLIN
PANKOW
Prenzlauer Berg apartments
<40 sq. m. 175,040 651 4.46% 4,376 16.28
60 sq. m. 276,540 843 3.66% 4,609 14.05
100 sq. m. 507,900 1,417 3.35% 5,079 14.17
>120 sq. m. 731,760 1,693 2.78% 6,098 14.11
Pankow apartments
<40 sq. m. 121,320 541 5.35% 3,033 13.53
60 sq. m. 184,260 686 4.47% 3,071 11.44
100 sq. m. 355,200 1,240 4.19% 3,552 12.40
>120 sq. m. 440,160 1,499 4.09% 3,668 12.49
BERLIN
FRIEDRICHSHAIN-KREUZBERG
Friedrichshain apartments
<40 sq. m. 184,720 542 3.52% 4,618 13.54
60 sq. m. 247,860 906 4.39% 4,131 15.10
100 sq. m. 488,100 1,663 4.09% 4,881 16.63
>120 sq. m. 625,080 2,628 5.05% 5,209 21.90
Kreuzberg apartments
<40 sq. m. 196,720 620 3.78% 4,918 15.49
60 sq. m. 283,860 905 3.83% 4,731 15.09
100 sq. m. 534,300 1,246 2.80% 5,343 12.46
>120 sq. m. 707,760 1,495 2.54% 5,898 12.46
BERLIN
STEGLITZ-ZEHLENDORF
Steglitz apartments
<40 sq. m. 139,480 516 4.44% 3,487 12.91
60 sq. m. 204,300 745 4.38% 3,405 12.42
100 sq. m. 391,200 1,079 3.31% 3,912 10.79
>120 sq. m. 473,520 1,348 3.42% 3,946 11.23
Zehlendorf apartments
60 sq. m. 206,340 735 4.27% 3,439 12.25
100 sq. m. 438,700 1,516 4.15% 4,387 15.16
>120 sq. m. 652,080 n.a. n.a. 5,434 n.a.
BERLIN
TREPTOW-KOPENICK
Kopenick apartments
<40 sq. m. 94,120 430 5.49% 2,353 10.76
60 sq. m. 168,000 667 4.77% 2,800 11.12
100 sq. m. 361,200 1,052 3.50% 3,612 10.52
>120 sq. m. 477,720 1,273 3.20% 3,981 10.61
MUNICH
Alstadt-Lehel apartments
<40 sq. m. 232,960 n.a. n.a. 5,824 n.a.
60 sq. m. 601,980 1,370 2.73% 10,033 22.83
100 sq. m. 701,000 2,701 4.62% 7,010 27.01
>120 sq. m. 1,423,680 2,720 2.29% 11,864 22.67
Bogenhausen apartments
<40 sq. m. 369,280 801 2.60% 9,232 20.03
60 sq. m. 470,100 1,386 3.54% 7,835 23.10
100 sq. m. 794,200 2,487 3.76% 7,942 24.87
>120 sq. m. 1,096,920 2,964 3.24% 9,141 24.70
Schwabing - West apartments
<40 sq. m. 346,240 1,121 3.89% 8,656 28.03
60 sq. m. 481,500 1,560 3.89% 8,025 26.00
100 sq. m. 823,500 2,510 3.66% 8,235 25.10
>120 sq. m. 1,029,000 3,166 3.69% 8,575 26.38
Schwabing - Freimann apartments
60 sq. m. 442,500 1,579 4.28% 7,375 26.32
100 sq. m. 831,600 1,921 2.77% 8,316 19.21
>120 sq. m. 1,025,160 2,611 3.06% 8,543 21.76
Neuhasen - Nymphenburg apartments
<40 sq. m. 350,760 881 3.01% 8,769 22.02
60 sq. m. 478,260 1,286 3.23% 7,971 21.44
100 sq. m. 893,900 2,267 3.04% 8,939 22.67
>120 sq. m. 1,092,000 n.a. n.a. 9,100 n.a.
Pasing - Obermenzing apartments
<40 sq. m. 302,160 940 3.73% 7,554 23.50
60 sq. m. 406,500 1,021 3.01% 6,775 17.01
100 sq. m. 693,100 1,883 3.26% 6,931 18.83
>120 sq. m. 990,240 2,275 2.76% 8,252 18.96
Maxvordstadt apartments
<50 sq. m. 383,080 787 2.47% 9,577 19.68
65 sq. m. 558,060 1,472 3.17% 9,301 24.54
105 sq. m. 912,800 2,501 3.29% 9,128 25.01
>130 sq. m. 856,920 2,620 3.67% 7,141 21.83
FRANKFURT
Bockenheim apartments
<40 sq. m. 226,320 624 3.31% 5,658 15.60
60 sq. m. 311,520 856 3.30% 5,192 14.27
100 sq. m. 691,500 1,314 2.28% 6,915 13.14
>120 sq. m. 977,880 1,825 2.24% 8,149 15.21
Bornheim apartments
60 sq. m. 298,860 821 3.30% 4,981 13.69
100 sq. m. 422,600 1,517 4.31% 4,226 15.17
>120 sq. m. 718,080 1,600 2.67% 5,984 13.33
Westend -Nord apartments
100 sq. m. 752,200 1,634 2.61% 7,522 16.34
Westend -Sud apartments
<40 sq. m. 282,520 620 2.63% 7,063 15.50
60 sq. m. 341,940 1,040 3.65% 5,699 17.34
100 sq. m. 664,800 1,654 2.99% 6,648 16.54
>120 sq. m. 967,200 2,126 2.64% 8,060 17.72
Sachsenhausen apartments
60 sq. m. 329,220 1,001 3.65% 5,487 16.69
100 sq. m. 555,700 1,424 3.08% 5,557 14.24
>120 sq. m. 689,640 1,783 3.10% 5,747 14.86
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you´ll really earn) are typically around 1.5% to 2% lower.
Source: IMMOWELT Definitions: Data FAQ See also: Update Schedule

Prices of houses and apartments in Germany are rising. Berlin is still much more affordable than Munich, but Germany´s capital city is now more expensive than its financial centre, Frankfurt.

  • Munich is Germany’s high-cost leader. To buy a 120 square metre (sq. m.) apartment in Munich costs around 940,000 euros
  • in Berlin a 120 sq. m. apartment costs around 600,000 euros
  • in Frankfurt, a 120 sq. m. apartment costs around 550,000 euros.

The purchase price of apartments in Munich´s prime residential districts is around 7,800 euros per sq. m., while in Berlin apartments cost around 4,900 euros per sq. m., and in Frankfurt around 4,500 euros per sq. m..

How much will you earn? Over the last two years, Frankfurt has moved into the lead in terms of rental return-on-investment. Yields both in Munich and Berlin are a little lower than in Frankfurt.

  • In Munich a 120 sq. m. apartment can rent for around 2,250 euros a month, earning a yield of 2.9%.
  • in Berlin a 120 sq. m. apartment can rent for around 1,500 euros a month, earning a yield of 3.0%
  • in Frankfurt, a 120 sq. m. apartment can rent for around 1,700 euros a month, earning a yield of 3.7%.

These are not high yields. All apartments included in the survey are located in the upscale residential neighbourhoods of Berlin, Frankfurt and Munich, and somewhat higher yields can be had on smaller apartments in poorer neighbourhoods.

Wherever you buy, you are unlikely to have much problem letting your apartment. Especially at the lower end there is an acute shortage of affordable apartments as the German boom continues, sucking in workers from all over Europe.

Round trip transaction costs are moderate to high in Germany. See our Germany transaction costs analysis and our Residential property transaction costs in Romania compared to other countries.






Comments

#1 HUDA | April 17, 2010

please i want an apartment 120-200.sqm with minimum 3 rooms maximum 15 minutes walking to the center or 10 minutes by underground 3-4 stops.thanks

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