Are residential places in Germany affordable?

If you are moving to Germany, whether to study, work, or start a whole new journey, then you would have definitely thought about the affordability of houses there. We all know that properties are not actually cheap anywhere in the world, and it definitely costs your arm and a leg to get a property in your name. But the question is, how do the prices of houses in Germany work? Are they affordable? Or will you have to save for years to get a tiny house? Well, that is what we are going to discuss now!

But if you are willing to buy a house from a dealer, property agent, or real estate agent in Germany, it is better first to check their reviews. You can opt for a popular review platform like Erfahrungenscout, where the users can search for different services and check their reviews. It will help you to know that the property agent you are dealing with is trusted and reliable or not. 

A brief look at the German House Market! 

The German house market has been rapidly increasing in the past few years. Not only that, the prices of residential properties in Germany raised quite a lot in 2020. If you are really willing to live in the most popular and more prominent cities of Germany, you will actually have to spend quite a lot to get some good deals. If we talk about the average prices here, you can expect to pay €3,500 per square meter. And of course, this value is just for the small towns and cities. If you want to move to luxurious locations or the main hubs of Germany, the price can go as high as actual €10,000 per square meter. By taking a look at these figures, we cannot really call them really cheap or easily affordable. But as per the economy of Germany, these prices are still great for anyone living in Germany for a long time. 

What you might need after buying a house in Germany?

So this is how the residential property prices work in Germany. But as soon as you get your hands on your first German house, you will have to keep some things in mind. After buying the house, you will have to opt for some services to make sure that you are perfectly safe. Indeed, one of the primary services that you will have to buy is insurance for your house. Insurance can offer you compensation for theft, damages, natural disaster damages, and different other things. You can check out One insurance as they offer different options to customers who have properties in Germany. You can explore different plans and packages and see if they are affordable and if the insurances offered will cover all the things you require or not. 

Which one should you go for? Rented Vs. Owned property? 

As now we have considered the prices of houses in Germany, you might be confused between different options. The thing is, it solely depends on your preferences. If you really want long-term easiness and a hassle-free experience, it is definitely a good idea to buy a house in Germany. But if you have limited funds or you don’t know if you will be able to pay for the house even by loans with your future salary, then you can play safe and rent a house. 

The verdict

If you have got a job in Germany and if you have been living there for more than five years, the residential property prices might seem affordable to you. But if you think that the prices are lower than the other European countries, then it is definitely not the case.