The market for luxury real estate continued to grow in 2018, as the Engel & Völkers Market Report 2019 on Germany’s Top 7 Cities shows. The Luxury Market Report marks developments and trends in the premium residential locations in Germany’s major urban centres. The analysis is focused on the most expensive five percent of residential houses and freehold apartments sold in the markets of Berlin, Hamburg, Munich, Cologne, Frankfurt, Stuttgart and Düsseldorf in 2018.
Luxury houses in Hamburg and Munich command the highest prices by far
The high demand for luxury houses and their limited availability make this market particularly exclusive. Saturation of the market is still not to be expected any time soon due to a price trend in the premium segment. Top prices were also fetched for exceptional properties in 2018. In the Uhlenhorst district on Hamburg’s Alster Lake, a mansion changed owners for 17.2 million euros. This is closely followed by Munich: in the Bavarian state capital, a property was sold last year for around 15 million euros. Increasingly, these premium homes are only to be found in peaceful and exclusive locations. “Luxury properties are distinguished by an outstanding location, elegant construction and particularly high-quality amenities,” says Kai Enders, Member of the Board of Engel & Völkers AG.