With a history dating back 850 years, a booming economy and enough events and activities to keep its inhabitants entertained every day of the year, it’s not surprising a growing number of expatriates and Germans alike are descending on Munich. Strict building regulations and strong demand have resulted in some of the highest property prices in Europe, but this hasn’t stopped the city appearing in the top ten of numerous liveability indices in the last decade thanks to its low crime rate, beautifully managed parks and high average income.
Munich is perhaps most internationally famous for the annual Oktoberfest, known locally as Wiesn, during which tourists and locals alike gather at the Theresienwiese for 16 days of merriment, with a rather strong focus on traditional beer and hearty food. However, there’s almost just as much going on for the other 349 days a year, so don’t worry too much if your visit doesn’t fall while the fair’s in town. Spiralling outwards from the Marienplatz at the heart of the city, Munich has a wealth of architectural gems, ranging from the Gothic Frauenkirche and Alter Hof to the Baroque Schloss Nymphenburg and all the way to the modern Olympic Park and Allianz Arena. Thanks to regulations preventing developers from building higher than 99m in the city centre, central Munich retains an open feel, with excellent infrastructure opening up the city to pedestrians and cyclists alike.
Munich’s international airport is a hub for Lufthansa Airlines, making it easy to travel across the continent to do business in London, Paris, Madrid, Vienna and several other major cities. Similarly, businessmen from around the world will often have cause to visit the city that houses the headquarters of global brands including BMW, Siemens AG, Allianz and Munich Re. The presence of several universities, colleges and research institutes also helps to maintain a highly qualified workforce and some of the lowest unemployment rates in Germany.
This vast international workforce is also well taken care of when it comes to leisure time: the German Alps are just a few hours’ drive away, offering skiing in winter and hiking in summer. For those who prefer to stay put, the Alte and Neue Pinakotheks will provide art lovers with hours of quiet entertainment, while the world-renowned Bavarian State Opera and Orchestra reside at the Nationaltheater.
An intensive programme of regeneration means that many of the city’s most popular residential developments are located in beautifully restored Gothic and Baroque buildings, although high-quality new builds in the suburbs have become increasingly sought-after as demand continues to outstrip supply. The central neighbourhoods including Lehel, Schwabing and Bogenhausen are also the oldest, housing fantastic churches, parks and historic properties. A little further from the centre you’ll find neighbourhoods such as the trendy Glockenbachviertel, understandably abbreviated to GBV, while across the Isar River, Giesing offers excellent value for money.
Whether you’re planning to relocate to Munich for business purposes or are considering investing in the city’s thriving rental market, Engel & Völkers can help you find the perfect property. With headquarters in Hamburg and offices around the world, our local expertise combines with an international outlook to ensure you get all the information you need at home and abroad.