You have to be able to afford to live in Munich – and that is becoming increasingly unlikely for many people. Prices are continuing to climb steeply, at least for new apartments, according to the results of the new Munich Housing Market Barometer (Münchner Wohnungsmarktbarometer). 

According to the barometer, the average first-time rent in 2022 was €22.27 per square metre, around four percent higher than in 2020.

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Those who want to live centrally have to dig particularly deep into their pockets. In the central districts of Ludwigsvorstadt-Isarvorstadt, Maxvorstadt, Au-Haidhausen and Altstadt-Lehel, tenants are asked to fork down between €25.60 and €28.30 per square metre. 

However, asking rents in Berg am Laim in the southeast of the city were also over €25 per square metre.

Cheaper offers of a little less than €20 per square metre were found on average outside the Mittlerer Ring, in Feldmoching-Hasenbergl, Hadern or Milbertshofen-Am Hart. 

There is a ray of hope for existing apartments. In 2022, they averaged €19.25 per square metre. This is still high, but less than in previous years (€19.58 in 2020 and €19.96 in 2021). 

Landlords asked for rents of over €21 per square metre in the Altstadt, Lehel, Maxvorstadt and Schwabing. 

The cheapest rents in 2022 were in Feldmoching-Hasenbergl in the most northern part of the city. 

Most flats (8.6 percent) were advertised in the lively Pasing district, just northwest of the city centre. The fewest were offered in the leafy Nymphenburg district, famous for a castle by the same name, and also central Schwanthalerhöhe.

For the Housing Market Barometer, the city examines rents and purchase prices annually. In 2022, the experts evaluated around 27,000 offers published on the internet portal ImmobilienScout24, or Immoscout.

Furnished flats going at more than €30 per square metre

For a while now, furnished flats have been increasingly offered on Immoscout, with landlords charging correspondingly higher rents. 

In 2022, the share was 21.5 percent of all advertisements and the average price for a new flat was  €30.24 per square metre (2020 at €30.44 and 2021 at €27.19). 

Furnished existing flats were even advertised at a slightly cheaper rate in 2022 than in 2020, at an average of €26.46 per square metre.

READ ALSO: Munich landlord fined for charging ‘too little’ in rent

Vocabulary

first-time rent – (die) Erstbezugsmiete

asking rent – (die) Angebotsmiete

to ask for – verlängern

existing apartment – (die) Bestandswohnung 

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