A square meter on Sylt can be acquired for approximately 14,400 euros.
In the areas of the North and Baltic Seas, real estate values are on the decline. Those aspiring to acquire one of these sought-after properties should proceed with caution; it appears that the decline has stopped. Prices have already commenced an upward trend on the East Frisian Islands.
The real estate market along the renowned German North and Baltic Sea coast is still experiencing a downward trend, but not as intensely as before. Those searching for a house on the North or East Frisian Islands in the North Sea will need to spend significantly. Prices are noticeably lower on the mainland and near the Baltic Sea. This is evident from the most recent coastal report by the nationwide real estate agency Von Poll Immobilien.
The North Sea coast, boasting the UNESCO World Natural Heritage Wadden Sea – the largest connected mudflat and sand area in the world – remains a highly popular destination for real estate buyers. The effects of the Ukraine war, increasing costs, inflation, and interest rate hikes have led to declining prices in most parts of Germany.
Nonetheless, a comparison between the fourth quarter of 2033 and the first quarter of 2034 displays that the trend is now slowing considerably, and prices are even climbing slightly in certain areas, as indicated by Daniel Ritter, the managing partner of the real estate company. He cautions potential buyers hoping for additional price drops: "This could signal the end of the regulatory phase."
Sylt's prices decrease by six percent
The most expensive region still is the North Frisian Islands in Schleswig-Holstein. On Sylt, Foehr, Amrum, and Pellworm, the average cost for a square meter of living space was 11,704 euros in the first quarter, a reduction of nine percent compared to the same period last year, yet only 0.7 percent less than in the previous quarter of 2033. The main contributing factor to the high prices is Sylt, an area that has been among the priciest in Germany for years. Prices there decreased by six percent. A square meter of living space now costs an average of 14,424 euros.
Compared to the North Frisian Islands, the East Frisian Islands off the North Sea coast are slightly more affordable, yet prices are again on the rise. For example, on Norderney, Juist, and Spiekeroog, house prices were up by 2.4 percent from the preceding year's quarter. Land on the mainland is significantly more affordable. Square meter prices in this area were less than a third of those on the islands. The most affordable was in the Wesermarsch district. Here, an average of 1,872 euros per square meter of living space was spent in the first quarter. The islands of Rugen and Fehmarn are likewise among the priciest on the Baltic Sea.
3,800 euros per square meter on Usedom
A similar situation prevails along the German Baltic Sea coast with its sandy beaches, historic bathing resorts, and small fishing villages. Despite lower prices overall, regions with values above 3,500 euros per square meter prevailed in the first quarter. These regions were primarily the islands of Rugen in Mecklenburg-Vorpommern and Fehmarn in Schleswig-Holstein.
On the mainland, the most costly area was Rostock, with square meter prices of 3,864 euros. The peninsulas of Fischland-Darß-Zingst and Usedom had prices just over 3,800 euros each. The least expensive homes were in the Vorpommern-Greifswald district, with an average cost of 1,739 euros per square meter.
"Along the Baltic Sea coast, real estate in cities and prime locations with a view of the water or distinctive properties – say with thatched roofs – continue to maintain their value," explained Robert Rothböck, regional manager for Kiel, Plön, Eckernförde, Neumünster, and Rendsburg of Von Poll Immobilien. Thorsten Claus, who oversees Lübeck and Bad Schwartau, added: "The regions of Timmendorfer Strand and Scharbeutz – particularly those in the first to third row by the water – also remain quite stable in value."
