Property Prices in Germany – Land Values and Market Trends 2024
Aktualisiert: 2026-07-03
Property Prices in Germany: Land Values and Market Overview
Germany operates one of the most transparent property valuation systems in the European Union: the Bodenrichtwert (official land reference value). Published by independent valuation committees (Gutachterausschüsse) based on actual transaction data, these figures give buyers, sellers, and investors a reliable benchmark that most EU countries lack.
Understanding the Bodenrichtwert System
A Bodenrichtwert represents the average market value of land per square metre in a defined zone, independent of any buildings on it. Committees calculate these figures from notarised sale transactions and publish them annually, usually with a reference date of 31 December of the preceding year. The nationwide database BORIS (Bodenrichtwert-Informationssystem) makes all values publicly accessible — a level of transparency that sets Germany apart from markets like the Netherlands, Italy, or Spain.
It is important to distinguish between the Bodenrichtwert (land value only) and the full purchase price of a property, which includes the value of any buildings. In city centres, land can account for 60–80 % of the total transaction price.
Land Values by City
Germany's price landscape spans an enormous range. Munich tops the chart with land reference values of €7,000–12,000/m² in prime locations such as Schwabing, Bogenhausen, and Maxvorstadt. Berlin follows at €4,000–6,000/m² in central districts like Mitte, Prenzlauer Berg, and Friedrichshain. Hamburg ranges from €4,500 to €7,000/m², while Frankfurt am Main sits at €4,000–7,000/m² driven by financial-sector demand. Cologne reaches €3,000–5,000/m².
Eastern German cities tell a different story. Leipzig and Dresden show values of €1,500–3,000/m² — still rising sharply as internal migration continues. In rural areas — Mecklenburg-Vorpommern, the Eifel, or the Bavarian Forest — land values typically range from €500 to €2,000/m², with agricultural plots priced considerably lower still.
Residential vs. Development Land
German valuations distinguish carefully between land categories. Baureifes Land (development-ready land) commands the highest prices because all planning permissions and infrastructure connections are in place. Rohbauland (raw building land, planning granted but not yet serviced) sits one step below. Agricultural land (Landwirtschaftliche Fläche) is valued entirely separately and is typically a fraction of residential land prices — even in expensive regions.
Price Trend 2022–2024
German property prices peaked in 2022 after a decade of near-continuous growth fuelled by record-low interest rates. When the ECB raised its key rate from 0 % to 4.5 % in rapid succession, mortgage costs jumped and demand fell sharply. Official land reference values in most cities declined by 5–15 % during 2023–2024. Rural markets saw steeper corrections in some areas. By mid-2024, stabilisation signals emerged: new construction output continued to fall, tightening supply and supporting prices in desirable locations.
What Groundcheck Shows
Groundcheck.eu maps official land values across Europe, including the full BORIS dataset for Germany. Click any location to see the Bodenrichtwert, land-use category, and reference date.
Further reading: - German Land Values – BORIS Explained - Property Prices Across Europe – A Comparison
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FAQ
What is the difference between a Bodenrichtwert and the actual sale price? The Bodenrichtwert reflects average land value in a zone, excluding buildings. The actual sale price of a property is usually higher because it includes the building value and may reflect specific locational advantages that deviate from the zone average.
Are German land values publicly available? Yes. All federal states publish their BORIS data online, free of charge. Groundcheck aggregates these datasets and displays them alongside comparable values for 27 EU countries.
Why did prices fall in 2023–2024? The ECB's rate hikes from 0 % to 4.5 % made mortgage financing significantly more expensive, suppressing buyer demand and forcing sellers to accept lower prices. This affected nearly all European markets, though Germany — with its high share of owner-occupier financing — felt the impact particularly strongly.
How accurate are Bodenrichtwerte as a valuation tool? They are a reliable baseline but not a precise market price. Because they are derived from past transactions and updated annually, they can lag behind fast-moving markets. For purchase decisions, supplement them with current comparable sales data.