Price benchmark
€2,610/m²
Germany — modelled national existing condominium · Q1 2026
Within review window · checked 2026-09-07
Property investment in Germany
The national benchmark is a modelled existing apartment, not Munich or Berlin prices. Transfer tax is set by federal state, and nonresident mortgage funding is not assumed here.
How to interpret this market
SafeBuy editorial interpretation
Reasons to investigate
- ImmoScout24 publishes a documented national reference-apartment price model.
- Official transaction-price indices give an independent view of historical movement.
- Published state and municipal rules make it possible to research taxes and use permissions for a chosen address.
Risks and questions to resolve
- National modelled prices and urban rental-yield samples cover different property mixes.
- Transfer-tax rates and annual property-tax calculations depend on location.
- City rules can restrict the use of ordinary housing as holiday accommodation.
Who might want to research further?
Investors comparing existing apartments across German regions who can examine the lease, ownership costs and municipal rules, and can confirm finance separately rather than relying on a national mortgage assumption.
Market snapshot
Gross rental yield
3.42%
Selected urban apartment listings: Berlin, Munich, Frankfurt, Stuttgart, Hamburg, Leipzig, Cologne and Dusseldorf · Q1 2026
Within review window · checked 2026-09-07
Historical price growth
3%
National residential property transactions · Q4 2025 versus Q4 2024
Within review window · checked 2026-09-07
Net yield, vacancy and all-in purchase costs are omitted unless verified. Published yields are gross, before investor-specific expenses.
How these observations were measured
Price benchmark: ImmoScout24 WohnBarometer uses advertised properties to estimate a standard existing reference apartment. It is modelled, not a simple national transaction median; geography, property condition and reference-object assumptions differ from other price sources.
Gross rental yield: Global Property Guide compares median advertised monthly rents with median advertised purchase prices by apartment size and location, annualises rent, and reports an aggregate gross yield. This is a listings sample, not a national transaction-weighted return. Excludes vacancy, tax, repairs, management, financing and purchase costs.
Historical price growth: Nominal year-on-year change in Eurostat's House Price Index, covering new and existing dwellings purchased by households. Historical index movement is not a forecast or a rental investment return.
Foreign ownership and land rules
Foreign ownership is generally permitted
The Welsh Government's Germany investment guide reports no general restrictions on foreigners owning or occupying real estate. This does not remove the need to check title, planning, building use and transaction formalities. A right to own a property is separate from a right to live or work in Germany.
Sourced rule · reviewed 2026-09-07
Purchase taxes and buying costs
The property's federal state sets the transfer-tax context
Official guidance gives a 3.5% property-transfer tax in Bavaria and 6% in Berlin. Those are two states, not a national range.
Sourced rule · reviewed 2026-09-07
Ongoing and transaction taxes
The annual Grundsteuer calculation changed in 2025
Germany Trade & Invest describes the property-tax reform effective January 2025. Liability combines an assessed property value, a tax factor and a municipal multiplier, with differing state models. A single percentage of the advertised purchase price would misstate this system.
Sourced rule · reviewed 2026-09-07
Financing and nonresident lending
This area is not yet verified in our research. Confirm the current conditions with the relevant authority or lender before relying on them.
Letting and short-term rental rules
Berlin illustrates city-level permission requirements
Berlin's official service requires permission to use residential space for purposes other than housing, including the relevant holiday-letting arrangements, through the district authority. This is a Berlin rule; another city's treatment must be checked independently before choosing a short-term-rental strategy.
Sourced rule · reviewed 2026-09-07
Residence and immigration
Residence requires its own legal basis
The Federal Foreign Office directs people planning an extended stay to the applicable national visa and residence-permit procedures. The route depends on nationality and the purpose of stay. Do not treat a property purchase as a residence or work authorisation.
Sourced rule · reviewed 2026-09-07
Your next step in Georgia
Could Georgian property or land fit your plans?
Request a free call with David Lee, SafeBuy’s co-founder and a British investor in Georgian property and land. Discuss your budget, the practical buying process and the checks a specific property needs.
SafeBuy provides purchase support in Georgia. Our international research is free to use. The call is optional and carries no obligation.
Compare with another market
Research the trade-offs
Rental Yields in Europe: Compare the Evidence
Compare sourced gross rental yield estimates in European property markets, with sample dates, coverage and the costs headline yields leave out.
Where Is Property More Affordable in Europe?
Compare published property price benchmarks, their geographic coverage and what a budget might buy before taxes and purchase costs.
Property Purchase Taxes in Europe: Rules That Change Your Budget
Compare country-specific purchase taxes, regional variations and nonresident rules, with links to the underlying authorities.
Buying Property Abroad: Foreign-Buyer Rules Compared
Research foreign residential ownership, land restrictions, financing and residence conditions before choosing a country.
Sources and review history
- ImmoScout24 — WohnBarometer purchase market Q1 2026
Publication date not supplied · Q1 2026 · reviewed 2026-09-07
National existing condominium benchmark EUR 2,610/m². PDF identifies the reference quarter but does not print an exact publication day.
- Global Property Guide — original rental-yield research
Publication date not supplied · Q1 2026 · reviewed 2026-09-07
Publisher states last update March 2026; an exact publication day is not provided. Uses local advertised rents and sale listings. Only the published aggregate is reproduced.
- Eurostat — House Price Index, Q4 2025 release
Published 2026-04-07 · Q4 2025 versus Q4 2024 · reviewed 2026-09-07
An explicitly dated historical release, not a claim to be the latest available quarter. National transaction-based House Price Index; subsequent releases can revise values.
- Welsh Government — Germany investment guide
Publication date not supplied · Investment guidance inspected September 2026 · reviewed 2026-09-07
- Bayerisches Landesamt für Steuern — transfer tax
Publication date not supplied · Bavarian tax guidance inspected September 2026 · reviewed 2026-09-07
- Berlin Service Portal — transfer-tax assessment
Publication date not supplied · Berlin tax guidance inspected September 2026 · reviewed 2026-09-07
- Germany Trade & Invest — real-estate taxation
Publication date not supplied · Property-tax reform effective January 2025; inspected September 2026 · reviewed 2026-09-07
Only the Grundsteuer explanation is used; corporate-income-tax figures are not applied to private landlords.
- German Federal Foreign Office — residence and extended-stay visas
Publication date not supplied · Visa guidance inspected September 2026 · reviewed 2026-09-07
US consular page; nationality-specific visa exemptions are not generalised to all users.
- Berlin Service Portal — holiday-letting permission
Publication date not supplied · Berlin local rules inspected September 2026 · reviewed 2026-09-07