Get all the data you need about the real estate market in Munich
This article covers apartment purchase prices in Munich as of 2026, and we update it regularly so the data you see always reflects the latest market conditions.
Munich remains one of the most expensive cities in Germany for residential property, and prices vary significantly from one neighborhood to the next.
Whether you are looking at the city center or a more accessible outer district, this guide breaks down what you can realistically expect to pay.
And if you're planning to buy a property in this place, you may want to download our real estate pack about Munich.
A quick summary table
| Metric | Value |
|---|---|
| Most expensive Munich neighborhood for apartments | Altstadt-Lehel |
| Most affordable Munich neighborhood for apartments | Obergiesing |
| Average price per square meter across all Munich neighborhoods | Around 9,600 EUR per sqm |
| Median apartment price across Munich | Around 620,000 EUR |
| Lowest realistic starting budget to buy an apartment in Munich | Around 190,000 EUR |
| Most expensive Munich apartment type by bedroom count | Two-bedroom apartments |
| Most affordable Munich apartment type by bedroom count | Studio apartments |
| Average price for a studio apartment in Munich | Around 300,000 EUR |
| Average price for a one-bedroom apartment in Munich | Around 530,000 EUR |
| Average price for a two-bedroom apartment in Munich | Around 770,000 EUR |
| Price gap between the most and least expensive Munich neighborhoods | Around 4,980 EUR per sqm (65% difference) |
| Price range across all 12 Munich neighborhoods | From 7,720 EUR to 12,700 EUR per sqm |
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Munich neighborhoods in 2026 ranked by apartment purchase price
This table ranks 12 Munich neighborhoods by apartment purchase price, from the most expensive to the most affordable.
For each neighborhood, the table includes the average price per square meter, the median property price, the starting budget, the average price for a studio apartment, a one-bedroom apartment, and a two-bedroom apartment, the typical buyer profile, the key advantages, the key drawbacks, and the market segment.
Finally, please note you'll find much more detailed data in our real estate pack about Munich.
| Rank | Neighborhood | Average Price per Square Meter | Median Property Price | Starting Budget | Average Price for a Studio Apartment | Average Price for a One-Bedroom Apartment | Average Price for a Two-Bedroom Apartment | Typical Buyers | Key Pros | Key Cons | Market Segment |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Altstadt-Lehel | EUR 12,700 per sqm | EUR 825,000 | EUR 320,000 | EUR 445,000 | EUR 700,000 | EUR 1,015,000 | Wealthy buyers seeking a prime central Munich address near the old town | Walking distance to the old town, the Isar river, museums, and embassies, with a prestigious address that very few Munich districts can match | Extremely limited supply, very high entry price, and many listings are older premium buildings that may need expensive upgrades | Luxury |
| 2 | Maxvorstadt | EUR 11,330 per sqm | EUR 735,000 | EUR 285,000 | EUR 395,000 | EUR 625,000 | EUR 905,000 | Central professionals and academics wanting museums, universities, and classic Munich streets | Strong apartment demand, prestigious surroundings, and immediate access to Munich's main cultural and academic institutions | Parking is difficult, buildings are often older, and compact apartments trade at very stretched prices relative to size | Luxury |
| 3 | Ludwigsvorstadt-Isarvorstadt | EUR 11,100 per sqm | EUR 720,000 | EUR 280,000 | EUR 390,000 | EUR 610,000 | EUR 890,000 | Urban lifestyle buyers who want excellent centrality and fast access to the old town and main stations | Outstanding access to Munich's old town, train stations, restaurants, and dense city-life amenities | Noise from nightlife, mixed micro-locations, and meaningful block-by-block quality differences that require careful research before buying | Premium |
| 4 | Schwabing-West | EUR 10,230 per sqm | EUR 665,000 | EUR 255,000 | EUR 358,000 | EUR 563,000 | EUR 818,000 | High-income urban buyers drawn to cafes, parks, and a very liquid apartment market | One of Munich's most liquid apartment markets, with strong resale appeal and a classic urban lifestyle that buyers pay a reliable premium for | Small apartments are expensive relative to size, family-sized stock is scarce, and competition for quality units is strong | Premium |
| 5 | Au-Haidhausen | EUR 10,130 per sqm | EUR 660,000 | EUR 250,000 | EUR 355,000 | EUR 557,000 | EUR 810,000 | Owner-occupier households upgrading to a popular east-central Munich district with a village feel | Strong Isar access, a genuine neighborhood atmosphere, and consistent owner-occupier demand that keeps the market resilient | Top pockets are expensive even by Munich standards, streets near main roads can be busy, and larger apartments are rare and costly | Premium |
| 6 | Neuhausen-Nymphenburg | EUR 9,580 per sqm | EUR 625,000 | EUR 240,000 | EUR 335,000 | EUR 527,000 | EUR 766,000 | Family apartment buyers looking for good transit and a more residential feel than the dense inner city | Broad residential appeal, solid public transport links, and a more comfortable family environment than the denser central districts | Entry prices are still very high, and the most desirable pockets near Nymphenburg Palace push budgets up quickly | Premium |
| 7 | Bogenhausen | EUR 9,210 per sqm | EUR 600,000 | EUR 230,000 | EUR 322,000 | EUR 507,000 | EUR 737,000 | Prestige family buyers seeking greener Munich streets and quieter premium residential living | Prestigious eastern Munich addresses, greener streets, and buildings that suit buyers looking for quieter premium living | District quality varies significantly, and top sub-areas price well above the district average shown here | Premium |
| 8 | Schwabing-Freimann | EUR 9,070 per sqm | EUR 590,000 | EUR 225,000 | EUR 318,000 | EUR 499,000 | EUR 726,000 | Modern apartment buyers who want established Schwabing demand and access to newer northern stock | A useful mix of classic Schwabing appeal in the south and newer apartment developments toward the north | Less uniform character than the original Schwabing district, and some northern pockets feel more functional than charming | Premium |
| 9 | Sendling | EUR 8,530 per sqm | EUR 555,000 | EUR 215,000 | EUR 299,000 | EUR 469,000 | EUR 682,000 | Practical city buyers who want solid Munich transport links and a more accessible entry price | Noticeably better value than the central Munich districts, solid public transport, and a realistic entry point for owner-occupier budgets | Fewer prestigious streets, more ordinary housing stock, and less emotional appeal than prime central Munich addresses | Mid-Market |
| 10 | Laim | EUR 8,300 per sqm | EUR 540,000 | EUR 205,000 | EUR 291,000 | EUR 457,000 | EUR 664,000 | First-time Munich apartment buyers focused on keeping their budget under control | Better affordability than most Munich districts, useful transport connections, and a practical apartment market for budget-conscious buyers | Limited charm in some pockets, busy roads on certain streets, and lower prestige appeal than inner-city Munich districts | Mid-Market |
| 11 | Pasing-Obermenzing | EUR 8,150 per sqm | EUR 530,000 | EUR 200,000 | EUR 285,000 | EUR 448,000 | EUR 652,000 | Space-seeking households who want more square meters without leaving Munich entirely | A good compromise for buyers who want more space without paying central Munich prices, with a suburban feel still inside the city | Less central than other districts, uneven apartment supply, and some housing demand here is stronger for houses than for flats | Mid-Market |
| 12 | Obergiesing | EUR 7,720 per sqm | EUR 500,000 | EUR 190,000 | EUR 270,000 | EUR 425,000 | EUR 617,000 | Entry-level Munich apartment buyers looking for one of the most reachable price points still inside the city | One of the most accessible apartment entry points in Munich, with improving urban appeal and ongoing local investment | Lower prestige, more mixed building quality, and weaker resale perception compared to the central and western Munich districts | Affordable |
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Key insights about apartment purchase prices in Munich
Insights
- Altstadt-Lehel apartments in Munich cost about 65% more per square meter than Obergiesing apartments, which is one of the widest price gaps you will find within a single German city, all within the same city limits.
- Crossing 10,000 EUR per square meter in Munich is not just about buying in a good area: it means you are paying for a prime central lifestyle address, and that premium is baked into the price regardless of the building condition.
- Munich's mid-premium band is remarkably wide. Neuhausen-Nymphenburg, Bogenhausen, and Schwabing-Freimann all sit near 9,000 EUR per square meter, which means buyers in these Munich districts are still firmly in premium territory.
- Even in the most accessible Munich neighborhoods, a realistic one-bedroom apartment starts around 425,000 EUR. There is no genuinely cheap one-bedroom market anywhere inside Munich city limits.
- A two-bedroom apartment in prime Munich often means spending between 800,000 and 1,015,000 EUR, especially inside the central ring. For many buyers, this means choosing between size and location.
- Maxvorstadt prices stay very close to Altstadt-Lehel because Munich buyers pay heavily for centrality and prestige. The university character and museum density of Maxvorstadt command a price that rivals the historic old town itself.
- Au-Haidhausen behaves like a premium owner-occupier market, not a cheaper alternative to the west side of Munich. Buyers who expect eastern Munich to be affordable will find prices close to Schwabing-West.
- Bogenhausen's district average hides very expensive micro-locations. Some of the most prestigious residential pockets in all of Munich are inside Bogenhausen, pushing actual transaction prices well above the district figure shown here.
- Sendling and Laim are the two Munich districts where first-time apartment buyers can still find a realistic entry point while staying fully inside the city. Below 9,000 EUR per square meter, these two districts stand out in the 2026 market.
- Obergiesing is not cheap in any objective sense: at around 7,720 EUR per square meter, it is only affordable by Munich standards. By German national standards, it remains an expensive apartment market.
- Munich's city-wide asking benchmark near 8,200 EUR per square meter means that even the mid-market Munich districts are more expensive than most German cities at their most expensive levels.
- Studio apartments in Munich do not feel proportionally affordable. Central location premiums apply to every apartment size, meaning even a 35 sqm studio in Altstadt-Lehel or Maxvorstadt costs well above 390,000 EUR.
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About our methodology
This analysis focuses specifically on apartment purchase prices in Munich as of April 2026. We looked at residential property only, and within that, apartments only. Houses, townhouses, and other property types are outside the scope of this article.
We also believe it is important to show our reasoning. It is one of the ways we make our work solid, transparent, and rigorous, just as you will see in our real estate pack about Munich.
First, please note that this data is updated regularly, so what you see here reflects the current values as of today.
In order to get reliable data, we applied a strict source filter. We only used authoritative, verifiable sources, not random listings or unsupported figures. More on that point below.
For each Munich neighborhood, we aggregated the freshest apartment purchase price data available. When possible, we cross-checked multiple sources to confirm the same price range. We used Munich's official market reports for city-wide direction and trend context, and large German property portals for district-level apartment pricing.
This allowed us to estimate the average price per square meter and the median property price for each neighborhood.
We also calculated the starting budget, which represents the lowest realistic entry point to buy an apartment in that Munich neighborhood. This is not the cheapest possible listing, but a real, achievable floor for a standard apartment purchase.
For each apartment category, we modeled prices using consistent standard sizes across all neighborhoods: a studio at 35 sqm, a one-bedroom at 55 sqm, and a two-bedroom at 80 sqm. This makes comparisons across Munich districts straightforward and consistent.
These estimates were not applied as one flat number across the city. They were adjusted by neighborhood and apartment type to better reflect local ownership conditions and Munich price levels.
This table should therefore be read as a structured market estimate, not as an exact guarantee of transaction prices. Honesty, quality, and rigor are at the core of our work, and they are also what you will find in our real estate pack about Munich.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our real estate pack about Munich, we rely on verifiable sources and a transparent methodology.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it is authoritative | How we used it |
|---|---|---|
| City of Munich: Immobilienmarktbericht | This is the official City of Munich page for the Gutachterausschuss market report, which is the primary reference for Munich property transaction data. | We used it as the main official anchor for Munich transaction evidence and overall market framing. We also used it to confirm which official report series the city itself treats as its reference market publication. |
| City of Munich: Halbjahresreport 2025 | This PDF comes directly from Munich's official valuation committee and shows the most recent transaction and pricing trends across the city. | We used it to anchor the latest official direction of the Munich apartment market going into 2026. We also used it to verify that 2025 sales activity recovered while Munich apartment prices remained high by historical standards. |
| City of Munich / Colliers: Real Estate Market Report Munich 2026/2027 | This report is published through Munich's own economic department in partnership with Colliers, giving it both official standing and professional market analysis credibility. | We used it for 2026 city-wide supply and demand context, and for Munich's overall market positioning. We also used it to cross-check that Munich remains a structurally expensive, supply-constrained market heading into 2026. |
| Destatis: Price indices for owner-occupied apartments | Destatis is Germany's federal statistical office, making it the most authoritative source for national-level residential price index data. | We used it to verify that our April 2026 Munich view fits within the wider German apartment price cycle. We also used it as a macro cross-check rather than for neighborhood-level pricing. |
| immowelt: Munich city price page | immowelt is one of Germany's largest residential property portals, with a dedicated city-level price page updated with current Munich asking-price data. | We used it as the city-wide benchmark for current Munich apartment asking-price levels. We also used it to keep all district estimates consistent with the broader Munich average. |
| immowelt: Altstadt-Lehel price page | This district-level page from a major German portal provides a large sample of current asking prices specifically for Altstadt-Lehel apartments in Munich. | We used it to anchor the top end of Munich apartment pricing. We also used it to rank Altstadt-Lehel correctly against the other premium Munich districts. |
| immowelt: Maxvorstadt price page | This page provides district-level Munich apartment pricing with an explicit price-per-square-meter section that is reliably updated. | We used it to extract a direct apartment price-per-square-meter reference for Maxvorstadt. We also used it to benchmark inner-city academic districts against Altstadt-Lehel and other premium areas. |
| immowelt: Neuhausen-Nymphenburg price page | This is a well-established district-level market page from a major German portal that includes an explicit apartment section with current Munich data. | We used it to anchor one of Munich's strongest mid-to-upper residential segments. We also used it to compare family-demand districts against more urban investor-focused areas. |
| immowelt: Bogenhausen price page | This is a large-sample district benchmark for one of Munich's best-established premium residential areas, providing reliable and current price data. | We used it to represent the upper-market eastern side of Munich. We also used it to position premium family and prestige Munich districts at the right level in the ranking. |
| Engel and Voelkers: Sendling price page | Engel and Voelkers is an internationally recognized real estate agency with a strong Munich presence and published local price data for individual districts. | We used it to cross-check apartment price levels in Sendling, one of Munich's more accessible mid-market districts. We also used it to validate that Sendling sits clearly below the premium Munich band in 2026. |
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