Munich, Bavaria, Germany – May 24, 2026 – Munich solidifies its position as Germany’s most expensive real estate market, with the average purchase price for properties currently standing at around 8,207 Euros per square meter. However, a closer look at the city reveals considerable variations in prices across its various districts.
Munich’s Most Expensive Districts Dominate the Market
The immowelt Market Report, published in May 2026, highlights Altstadt-Lehel as the most expensive district in Munich, commanding an average price of approximately 12,689 Euros per square meter. This represents a significant 55 percent premium over the city’s average.
Altstadt-Lehel’s appeal stems from its exclusive location, historic buildings, and immediate proximity to the city center. Following closely are Maxvorstadt and Ludwigsvorstadt-Isarvorstadt, which also remain highly sought after. Maxvorstadt, in particular, benefits from its central location, numerous cultural institutions, and proximity to universities, with average asking prices currently around 11,312 Euros per square meter.
Schwabing-West and Au-Haidhausen also continue to be popular choices, offering a blend of urban living with a high quality of life, abundant restaurants, and excellent infrastructure. Neuhausen-Nymphenburg and Bogenhausen are consistently ranked among Munich’s high-priced residential areas, as per immowelt data.
Family-Friendly Districts Gain Traction
Beyond the central areas, family-friendly districts are increasingly gaining importance. Neuhausen-Nymphenburg and Bogenhausen remain popular among buyers, with many families specifically seeking quiet residential areas that offer good infrastructure, schools, and green spaces. Untergiesing-Harlaching also stands out due to its proximity to the Isar River and numerous recreational opportunities. Buyers are increasingly prioritizing factors such as living quality, local recreation options, and long-term value appreciation.
The economic strength of Munich, coupled with a limited housing supply, continues to fuel high demand in the real estate market, ensuring that prices in many districts remain stable at a high level.
Overview of Munich’s Most Expensive Districts:
| District | Average Purchase Price per sqm | Deviation from Munich Average |
|---|---|---|
| Altstadt-Lehel | 12,689 € | +55 % |
| Maxvorstadt | 11,312 € | +38 % |
| Ludwigsvorstadt-Isarvorstadt | 11,045 € | +35 % |
| Schwabing-West | 10,242 € | +25 % |
| Au-Haidhausen | 10,087 € | +23 % |
Outer Districts Offer More Affordable Entry Points
Despite the overall high-price level, Munich still offers districts with comparatively lower purchase prices. Particularly in some outer boroughs, square meter prices are below those of the premium locations.
Aubing-Lochhausen-Langwied is currently among the more affordable residential areas, with properties costing an average of around 7,009 Euros per square meter, which is about 15 percent less than the Munich average. Feldmoching-Hasenbergl, Ramersdorf-Perlach, Berg am Laim, and Moosach also continue to provide relatively more affordable entry opportunities for buyers and investors.
Owner-occupiers with smaller budgets are specifically targeting properties in these districts. Simultaneously, many investors see further development potential in certain areas. Infrastructure measures and new construction projects could further enhance the attractiveness of individual districts in the future, according to current immowelt data.
Overview of Munich’s Most Affordable Districts:
| District | Average Purchase Price per sqm | Deviation from Munich Average |
|---|---|---|
| Aubing-Lochhausen-Langwied | 7,009 € | -15 % |
| Feldmoching-Hasenbergl | 7,300 € | -11 % |
| Ramersdorf-Perlach | 7,332 € | -11 % |
| Berg am Laim | 7,365 € | -10 % |
| Moosach | 7,514 € | -8 % |
The immowelt editorial team, with its extensive real estate knowledge, provides carefully researched information in helpful guide texts. The aim of the immowelt experts is to present complex issues as simply as possible. All content is regularly reviewed and reliably updated. The immowelt editorial team cannot and may not provide legally valid advice. For legally binding information, we always recommend seeking the advice of a specialist lawyer, owner, or tenant association.
Source: immowelt Market Report (May 2026)
