Germany real estate market — prices, rental yield and trend

• Average price: $3,066 / m²
• Gross rental yield: 4.07%
• 12-month price change (USD): -2.3%
• Net rental yield: 3.08%
• Transaction cost: 12.3%
• Bubble-risk band: moderate
• Price basis: national average

Residential property in Germany averages $3,066 per square metre. In dollar terms the market has barely moved over the last twelve months (-2.3%). That makes it the 157th most expensive of the 264 markets in the set.

What a buyer pays in Germany

The $3,066 figure is a national average across all residential property types, which flattens a wide spread — the capital typically runs far above it and small towns far below. Buying costs — transfer tax or stamp duty, notary, registration and agency — come to about 12.3% of the price here. On a 100 m² apartment at the average price that is roughly $37,712 on top of the $306,600 purchase price. That is above the 9.5% median across the set — the entry cost is part of the investment case here. Of that, the transfer tax alone is 3.5–6.5% depending on the buyer and the property; the rest is notary, registration and agency fees. Inside Germany we track 7 local markets separately: Munich at $9,006 (193.7% above the national figure) down to Leipzig at $2,922.

What it earns

A square metre lets for about $10.4 a month. Against a purchase price of $3,066 per square metre that is 4.1% gross, before tax. Both figures come from the same source and the same period, so you can check the arithmetic yourself. It ranks 235th of 311 markets by gross yield. Rental income is taxed at 21.8–26.9% — the rate is not a single number here. That is the difference between 3% and 3.2% net on the same property. The 3.1% net figure we publish uses 24.4%. On the way out there is a third tax: a non-resident seller pays 0–47.5% on the gain, depending on how long the property was held and who is selling.

How the tax works. Progressive under EStG § 32a at the 2026 tariff: for a non-resident the taxable base is increased by the basic allowance (§ 50(1) sentence 2 — the exception for employment income does not cover rent), there is no flat expense allowance and no solidarity surcharge, which gives 22–27% across typical rent levels. Building depreciation (2–3% a year) is not included because it depends on the property's value, so the real burden is noticeably lower. Source: dejure.org / EStG § 50.

Where the price sits against its own history

Prices are -2.5% over five years and +49.9% over ten in local terms. Today’s level is within 0.6% of the country’s own long-run trend, so the price is close to where its own history would put it. Glopra’s bubble-risk score for Germany is 51 out of 100 — moderate risk. Of the 65 markets scored, 43 read higher.

Germany house price index, 2016–2026 (2016 = 100)

Rebased to 100 in 2016, the index stands at 142.7 in 2026. The series is in local currency, and the twelve-month numbers above show how much of that a dollar buyer actually keeps.

Who can buy in Germany

Freehold, no restrictions. That is the rule a foreign buyer meets first, not legal advice — check the current position locally before you commit.

How this figure is built

The price figure for Germany is built from asking prices from listings. It was last refreshed on 2026-11-05. We rate our confidence in this market’s data medium: the series is usable, but thinner or less current than our best-covered markets. We recompute every market the same way; a figure that fails our checks is suppressed, not guessed.

Sources: globalpropertyguide.com · ec.europa.eu · numbeo.com. Snapshot: 2026-11-05.