How many years does it take to save up for an apartment in Germany: a comparison of cities and incomes

Housing costs and salary levels in Germany vary significantly depending on the city. Find out how many years it takes to save up for an apartment in Munich, Berlin, or Dortmund, and where housing is most affordable for buyers

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The time required to purchase your own home in Germany varies significantly depending on the city. Property prices, salary levels, and the ratio between them create very different scenarios — from a few years of savings to more than a decade. Munich remains the most expensive city to buy a home, while Dortmund is the fastest place to save up for an apartment. This is according to data from the Numbeo platform.

How much does a square meter of housing cost in Germany?

Real estate prices in large German cities remain high, especially in central areas. The highest average price per square meter is in Munich: €11,233 in the city center and €7,657 outside the center. Düsseldorf is in second place: €8,429 in the center and €4,497 outside the center. In Hamburg, a square meter in central areas costs an average of €8,042, and €4,694 outside the center.

The average prices are as follows:

● Berlin — €7,577.58 in the center and €5,195.22 outside the center;

● Frankfurt am Main — €7,282.13 in the center and €4,051.56 outside the center;

● Cologne — €6,385.29 in the center and €4,292.31 outside the center;

● Stuttgart — €6,101.83 in the center and €3,971.09 outside the center;

● Dortmund — €2,700 in the center and €2,012 outside the center.

The differences between cities clearly show how uneven the real estate market is, even within a single country.

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Average salaries after taxes

The second key factor is income level. The highest average “net” salary is earned by residents of Frankfurt am Main — €4,088 per month. Next are:

● Munich — €4,051;

● Stuttgart — €3,702;

● Düsseldorf — €3,455.47;

● Hamburg — €3,417.25;

● Berlin — €3,165.86;

● Cologne — €3,091.72;

● Dortmund — €3,075.72.

Although salaries are higher in financial centers, they do not always compensate for more expensive real estate.

How many years does it really take to save up for an apartment

According to Numbeo's calculations, if a person theoretically saves their entire salary and plans to buy a 50 sq. m apartment, the terms are as follows:

● Munich — about 11.6 years for an apartment in the center and 7.9 years outside the center;

● Düsseldorf, Berlin, and Hamburg — about 10.2 years in the center and about 6 years outside the center;

● Cologne — 8.6 years in the center and 5.8 years outside the center;

● Frankfurt am Main — 7.4 years in the center and 4.1 outside the center;

● Stuttgart — 6.9 years in the center and 4.5 outside the center;

● Dortmund — the shortest period: 3.7 years for housing in the center and 2.7 years outside the center.

Important nuances that are not taken into account in the calculations

Analysts emphasize that these figures are averaged and conditional. In real life, they do not take into account:

● rental and living expenses;

● inflation;

● real estate purchase taxes;

● mortgage interest rates;

● individual incomes, which may be higher or lower than average.

Advice for Ukrainians: before moving, finding employment, or purchasing a home in Germany, it is important to understand your immigration status and right to work in advance. In such situations, it may be helpful to consult with the immigration lawyers at Visit Ukraine, who help Ukrainians legally work, live, and plan for a long-term life abroad.

We remind you! In Ukraine, the path to owning your own apartment can take from several years to decades — it all depends on the city, income level, and cost of housing. We have compiled the latest statistics by region to show where it is easier to save for an apartment and where it becomes a long-term financial goal. Read on to find out how many years you need to save for housing in different cities across the country and why the difference is so significant.

Photo: shutterstock

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