The most expensive house went on sale in Upper Bavaria
The rise in real estate prices in Berlin, Bavaria and many other German states made buying a property a challenge for investors. Although there was a turnaround towards the end of the year and prices fell, investments were made in the luxury segment regardless of price. The most expensive house was a luxury villa in Upper Bavaria, which was offered for 29.5 million euros. With a total of 26 rooms and a total area of 1,100 m², the property should give the buyer enough space to develop. The buyer will also receive a plot of land measuring more than 100,000 m².
Hamburg ranked second among the most expensive luxury properties
Investors in Hamburg do not have to dig much deeper into their pockets. In the Uhlenhorst district, a villa offering 950 m² of living space spread over 19 rooms was looking for a new owner. At 1,130 m², the plot is even slightly larger than the property on Lake Simssee in Upper Bavaria. The villa on offer in Eimsbüttel has a proud purchase price of 27.9 million euros. This is followed by a significant jump in price, with the fourth most expensive property in 2023 at "just" 15 million euros, this time again in Bavaria (Grünwald). At this price, 516 m² of outdoor space and a building went on sale.
Berlin, Munich, Heidelberg - an expensive place to live
With Hamburg, Berlin and Munich, the three largest cities in Germany are represented at the top of the ranking of the most expensive properties. In Berlin, the most expensive offer was published at 13.5 million euros, with a city villa in Mitte for the new owner. Finally, an investor paid 12.9 million euros in Munich-Bogenhausen, making it the eighth most expensive property of 2023. Tenth place brings refreshment to the ranking, as it is a property in the university city of Heidelberg. The costs amount to around 12 million euros. For a relatively small city, this is an immense purchase price in the luxury sector.
Checking apartments - where it was most expensive
At the end of 2022, the home ownership rate in Germany was 42% and interest in buying a home remains undiminished. While the most expensive houses in the country were located in the suburbs and even in Heidelberg, the most expensive apartments are exclusively in the country's big cities. In first place was a 15.9 million euro loft located close to the Volkspark in Friedrichshain. It offers nine generously designed living spaces, a total area of 546 m² and an XL roof terrace.
Second place went to an investment property from Munich. At 378 m², it is significantly smaller than the Berlin loft, but the price is also "slightly" cheaper at 10.89 million euros. To acquire third place, investors had to look to Hamburg. In a favorable location on the Outer Alster, a property went on sale that, with a purchase price of 10.5 million euros, belonged to the luxury segment. The 433 m² domicile offers plenty of space for personal development.
A further three luxury-class properties (apartments) were offered in Berlin Charlottenburg-Wilmersdorf. The Munich region featured twice more in the top list and there were also two outliers here. In fifth place was an apartment in Frankfurt am Main, which fetched around 8 million euros. One million less was paid for the loft in Düsseldorf's old town.
Without solid construction financing, such offers are not feasible for most people. However, demand in the luxury sector has not decreased despite higher prices. It is impossible to predict whether the most expensive properties will actually achieve the asking price in 2023. It is quite possible that investors and sellers will come to an agreement, but the selling price will not be much lower than the asking price.
