GLOPRAGlobal Property Radar

Germany real estate market — prices, rental yield and trend

  • Average price: $3,066 / m²
  • Gross rental yield: 4.07%
  • 12-month price change (USD): -1.7%
  • 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 (-1.7%). That makes it the 42nd most expensive of the 83 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 10.2% median across the set — the entry cost is part of the investment case here.

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 79th of 88 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%.

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 58 markets scored, 41 read higher.

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

YearIndex
2016100
2017106.1
2018113.2
2019119.7
2020129
2021143.9
2022152.7
2023139.8
2024137.7
2025142
2026142.7

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 2026-09-28. We rate our confidence in this market’s data high: the underlying series is official and current. We recompute every market the same way; a figure that fails our checks is suppressed, not guessed.

Sources: GPG sqm · globalpropertyguide.com · ec.europa.eu · numbeo.com. Snapshot: 2026-09-28.

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