Property market receives attention. - The typical cost for a square meter on Sylt exceeds 14,400 euros.
The renowned German coastal regions continue to see declining real estate prices, but at a slower rate compared to before. Nonetheless, purchasing a property on the North or East Frisian Islands in the North Sea still requires a hefty sum. The situation is more affordable on the mainland and at the Baltic Sea, as per the recent coastal report by the nationwide real estate agency Von Poll Immobilien.
The North Sea coast, boasting the UNESCO World Heritage Site Wadden Sea - the world's largest continuous mudflat and sand area - remains a desirable area for real estate investors. Amidst the Ukraine war's effects, rising costs, inflation, and interest rate hikes, decreasing property values can be observed in most parts of Germany. The downward trend has slowed down in the last quarter of 2023, and prices are even slightly rising in some zones, according to Daniel Ritter, the managing partner of the real estate firm. He added, "This suggests that the price decrease phase may soon end, offering some hope for potential homebuyers."
Sylt, a notable North Sea island, has the highest average price per square meter of living space at 14,424 euros.
The North Frisian Islands, located in Schleswig-Holstein, are the priciest region. On Sylt, Föhr, Amrum, and Pellworm, housing spaces averaged at 11,704 euros per square meter, which is 9% cheaper than the previous year but only 0.7% less than the last quarter of 2023. Sylt, famed for its expensive properties, witnessed a 6% price drop, with an average unit costing 14,424 euros.
The East Frisian Islands, nestled on the North Sea coast, are not as pricey, but they show rising prices. For instance, houses on Norderney, Juist, or Spiekeroog were 2.4% more expensive than the initial quarter of 2023, with an average cost of 8,833 euros per square meter. In marked contrast, properties on the mainland are much more affordable, with square meters costing less than a third of that. The Wesermarsch district notably had the cheapest housing at a mere 1,872 euros per square meter.
Similarly, the Baltic Sea coastal areas demonstrate a mixed scenario. Rügen in Mecklenburg-Vorpommern and Fehmarn in Schleswig-Holstein are pricey islands with square meter rates of 3,864 euros and 3,800 euros, respectively. The most expensive property on the mainland was in Rostock, followed by the peninsulas of Fischland-Darß-Zingst and Usedom, both with prices exceeding 3,800 euros per square meter. The compact district of Vorpommern-Greifswald, however, offered the most budget-friendly option, with an average cost of 1,739 euros per square meter.
Top-tier locations along the Baltic Sea coast demonstrate strong price stability, as stated by Robert Rothböck, manager of Von Poll Immobilien in Kiel, Plön, Eckernförde, Neumünster, and Rendsburg. Thorsten Claus, his colleague overseeing Lübeck and Bad Schwartau, further highlighted, "The regions of Timmendorfer Strand and Scharbeutz, especially the first to third row by the water, remain particularly stable in value."
Read also:
- Despite the decline in real estate prices in renowned German coastal regions like Fehmarn, inflation and rising costs continue to impact the market.
- The Baltic Sea coast, including popular East Frisian Islands like Norderney, is seeing a slow rise in real estate prices, according to recent data from the German Press Agency.
- Unesco-designated Wadden Sea, located on the North Sea coast of Schleswig-Holstein, remains an attractive area for real estate investments, despite the economic challenges.
- In contrast, affordable real estate prices can be found on the mainland of Lower Saxony, with square meters costing less than on Norderney or Sylt.
- Germany's Baltic Sea coast, home to islands like Rügen and Fehmarn, features a mix of high and low property prices, with regions like Vorpommern-Greifswald offering more budget-friendly options.
- Real estate prices along the North Sea, including the famous Sylt, are influenced by various factors, including market trends and geographical location.
- The Ukrainian conflict and interest rate hikes have contributed to decreasing property values in most parts of Germany, but the trend is starting to reverse in some areas, according to Von Poll Immobilien.
- The Baltic coast of Mecklenburg-Western Pomerania, like the island of Fehmarn, is experiencing a combination of price stability and slight increases, as reported by Von Poll Immobilien managers.
- German coastal towns like Timmendorfer Strand and Scharbeutz demonstrate strong property value stability, offering a potential investment opportunity for those looking to buy in Germany.
- Despite the challenges, the German property market continues to attract interest, with real estate investors and homebuyers seeking out promising locations across the country, from Sylt to the Baltic coast.
