Prime property in Germany’s major cities and most desirable second home markets is reaching new price highs. Hobookenweg in Kampen on the island of Sylt remains the most expensive street to live on. A thatched house with panoramic North Sea views sold here for around 73,300 euros per square metre during the period under review (2014/2015). These are the results of the ranking of Germany’s most exclusive residential locations, just released by Engel & Völkers. “Each address featured in the ranking is a unique micro-location. On Sylt, for example, building plots are very rare, so top properties are few in number. High quality standards and amenities are important, but it is often the rarity of the land plot that gives a property such a unique price tag. Sales like this can far exceed average market valuations,” said Kai Enders, Member of the Board of Engel & Völkers AG.
Am Kaiserkai in Hamburg is currently the second most expensive street in Germany, at a price per square metre of around 31,500 euros. It is followed by Bavaria’s state capital Munich in third place. A luxury mansion was sold here on Thomas-Mann-Allee for approx. 25,000 euros per square metre.
Berlin occupies fourth place on the list. The German capital is attracting more and more interested international buyers from London, New York and the Côte d'Azur. This can be attributed to its political and cultural development, as well as the high level of building activity. Top prices per square metres have jumped as a result by 7,000 euros over the last two years to 22,000 euros. This valuation is currently being recorded by Engel & Völkers on Hausvogteiplatz.
In fifth place is the city of Cologne on the River Rhine. In the exclusive “Gerling Quartier” in the city centre, a 330-square-metre penthouse in the newly refurbished and listed “Haus Gerling” sold for approx. 17,000 euros per square metre.
The highest priced homes on the island of Norderney are currently new developments with sea views in the prime location Viktoriastrasse. Since 2013, top prices per square metre have risen here by around 4,800 euros to approx. 16,000 euros. This puts the East Frisian Island in sixth place in the ranking.
Tegernsee in Germany’s Alpine region is one of the most popular leisure and holiday destinations in Bavaria. Its main assets include proximity to Munich, sporting and cultural amenities on offer all year round, and the beautiful scenery with its lakes and mountains. Properties in the desirable town of Rottach-Egern are reaching around 15,000 euros per square metre. This puts Tegernsee in seventh place in the ranking.
Engel & Völkers sold a penthouse on Strandpromenade in Binz in August 2015 for approx. 14,000 euros per square metre. This is by far the highest price per square metre ever reached for a home on the island of Rügen. This puts the Baltic Sea resort in joint eighth place with the financial centre Frankfurt. On the road named Oberlindau in the city’s Westend district, a luxury apartment in the “Onyx” complex overlooking the cityscape changed owners for around the same price per square metre.
Düsseldorf and the North Frisian Island of Föhr are ranked in joint ninth place, with a top valuation of approx. 13,500 euros per square metre. Top-end homes on Altestadt in the western German city and on Stockmannsweg in Wyk on Föhr were both sold in this price bracket.
Around 12,500 euros per square metre were paid for a newly built apartment on Fischbuchet in Berg on the banks of Lake Starnberg, placing the sought-after first home market in tenth place.
Another East Frisian Island secures 11th place: Juist. A luxurious residence on Wilhelmstrasse achieved a price high of approx. 12,000 euros per square metre.
The most expensive properties in Stuttgart are located on the residential road known as Am Bismarckturm, where buyers have paid up to 10,800 euros per square metre for exclusive homes. This valuation places Stuttgart in 12th place.
Ranked in 13th place is Constance on the banks of Lake Constance. Its location between Germany and Switzerland makes it a desirable location for first and second homes. A price per square metre of approx. 10,500 euros was recorded on Alpsteinweg. The same sale value was achieved for a modern residential complex on Strandallee in the beach resort of Timmendorfer Strand.
The street Seepromenade in the Baltic Sea town of Warnemünde and the centre of the spa town Baden-Baden come in joint 14th place. Maximum prices per square metre were approx. 10,000 euros for new developments with sea views in Warnemünde and for prestigious properties on Lichtentaler Allee.
Not every property in a prime location will be sold at the maximum prices quoted in the ranking. The analysis carried out by Engel & Völkers focuses on absolutely exceptional locations and properties, which meet the very highest standards in terms of location, features and comfort. Only a fraction of the property transactions in the individual locations achieve the top prices cited in this analysis. Since properties in this highly exclusive market sector only rarely come onto the market, these top prices naturally cannot be confirmed or exceeded every year.