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Where were Germany’s most expensive homes in 2022?

A new study has revealed the priciest homes that were sold this year in Germany.

Published: 30 December 2022 17:15 CET

Luxury flats in Berlin

Four of Germany's most expensive apartments in 2022 were sold in Berlin. Photo: picture alliance/dpa | Christophe Gateau

The leafy well-to-do western Berlin district of Charlottenburg-Wilmersdorf currently boasts Germany’s most expensive apartment – at least according to a study by Immowelt. To be fair, at 437 square metres, the penthouse is considerably larger than many full German houses. The luxurious pad sold for an astounding €9 million this year, putting it at the top of housing portal’s top ten.

Putting a dash on the city’s historic “poor, but sexy” reputation, four of the ten most expensive flats in Germany were sold in Berlin this year – one of them a 454 square metre palace of sorts just near the Brandenburg Gate. Rounding out the top ten were three apartments in Munich, two in Hamburg and one in Miesbach – close to the Austrian border. The smallest of the ten came in at 210 square metres, while three of the Berlin ones came in at a spacious 400 square metres or over.

It also took more than €6 million to even enter the top ten, with the “cheapest” flat in that list going for €6.2 million.

READ ALSO: What experts say will happen to the German housing market in 2023

Bavarian lakes dominate expensive houses

While Germany’s three largest cities perhaps predictably hold the country’s most expensive apartments, the lakes of the Bavarian Alps take the crown for full houses – and what a luxurious crown it is.

€15 million on Ammersee near Landsberg am Lech got one 2022 buyer a 12-room property with over six square kilometres of land, 445 square metres of interior space, and its own jetty.

The smallest outdoor area for one of the top ten houses came in at 590 square metres, giving plenty of space for playing, running around, or gardening, while interior space ranged from 260 to 500 square metres.

Whether in the countryside or even Munich itself, most of Germany’s priciest houses were sold in Bavaria in 2022, although two were to be found in Hamburg.

Cracking the top ten here cuts a steeper figure too, with the lowest price coming in at €8.4 million.

READ ALSO: EXPLAINED: What you need to know about buying a property in Germany

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EXPLAINED: What fees do you have to pay when buying a home in Germany?

One of the big reasons as to why property ownership is so low in Germany? The fees.

Depending on where you buy your own piece of paradise – you could be on the hook for taxes and fees that add up to over 10 percent of the purchase price! It’s a figure that’s high enough to make some wonder if the investment is worth it – and often used to explain why figures on German home ownership, at around 50 percent – are some of the lowest in Europe.

READ ALSO: Why is home ownership in Germany so low?

Land transfer tax

When you sign a contract to buy property in Germany, you’ll get a letter soon after from your local tax office – telling you how much land transfer tax you have to pay. Such a tax triggers whenever property ownership changes hands in Germany and needs to be paid by the new owner.

It’s calculated based on property value – most often the agreed purchase price – and varies depending on the federal state where the property is located.

The lowest transfer taxes are found in Bavaria – whose 3.5 percent rate is significantly lower than any other Bundesland. Five percent rates apply in Saxony-Anhalt, Mecklenburg-West Pomerania, Rhineland-Palatinate, Bremen, Lower Saxony, and Baden-Württemberg.

Hamburg and Saxony follow with 5.5 percent rates, whereas Berlin and Hesse start going to the high end of tax rates at six percent.

At the highest end with 6.5 percent rates – lie North Rhine-Westphalia, Brandenburg, Saarland, Schleswig-Holstein, and Thuringia.

You won’t be able to add your name to the land registry – or Grundbuch – until you pay your tax.

READ ALSO: Why property prices in Germany are likely to rise this year

Real estate agent fee

In most German states, you’ll also have to pay your estate agent a commission amounting to about 3.57 percent of the property purchase price.

There are four federal states where this fee is lower though – and even a slightly lower percentage could make a big difference given the amounts involved. Hamburg and Mecklenburg-West Pomerania have commission fees of 3.18 and 3.08 percent, respectively.

At 2.98 percent, the lowest real estate commission fees are found in Bremen and Hesse.

These commission fees are also a reason why it may be an attractive option to buy a newer build property directly from a real estate developer – as you won’t pay any commission if you purchase from the developer directly. Private selling or buying foreclosed properties at a court auction also allows you to avoid this fee entirely.

If buying from a developer though, you may have to wait months or years to be able to actually move in though, as the places are often sold while still under construction.

EXPLAINED: What you need to know about buying property in Germany

Notary fee

No matter where you buy property in Germany, a notary must read out the contract in front of both parties.

This can be tedious and take hours – but the idea is to allow both parties the chance to ask questions on the terms of a neutral party.

Unfortunately, you’ll pay for the privilege and there’s no avoiding it. Notary fees are about 1.5-2 percent of the purchase price around Germany in most cases. Some shopping around might help you find a notary who charges the lower end at 1.5 percent.

If you’re not comfortable with legal German, you’re allowed to bring an accredited translator with you to the reading. This is, of course, at your own cost as well.

READ ALSO: Is it a good time to buy a home in Germany?

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