Authored by the expert who managed and guided the team behind the Germany Property Pack
Yes, the analysis of Munich's property market is included in our pack
Whether you are a foreigner considering buying an apartment in Munich or simply curious about property prices in Germany's most expensive city, this guide breaks down exactly what apartments cost in Munich in 2026.
We cover everything from average prices and neighborhood differences to closing costs, down payments, and ongoing expenses, all explained in plain language with real numbers.
We constantly update this blog post to keep the figures fresh and reliable.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Munich.
Insights
- Munich apartment prices average around 10,500 euros per square meter in early 2026, making it roughly 35% to 40% more expensive than Frankfurt and nearly double Berlin's prices.
- Bavaria's property transfer tax of 3.5% is the lowest in Germany, saving Munich buyers about 15,000 to 30,000 euros compared to buying the same property in states like Brandenburg or North Rhine-Westphalia.
- The price gap between Munich's cheapest district (Aubing-Lochhausen-Langwied at around 6,400 euros per square meter) and its priciest (Altstadt-Lehel at up to 19,000 euros per square meter) is nearly three times.
- New-build apartments in Munich command a 15% to 20% premium over resale properties, largely due to better energy efficiency standards and very limited new construction supply.
- Munich's vacancy rate sits below 1%, which explains why well-priced apartments typically sell within 20 to 30 days of listing.
- A typical all-in budget for a one-bedroom apartment in Munich in 2026 is around 565,000 euros (approximately 610,000 USD), including purchase price and closing costs.
- Buyers in Munich should expect to bring between 27% and 38% of the purchase price in cash, covering both the down payment and closing costs that banks will not finance.
- Munich apartment prices rose about 4.3% in 2025, but after adjusting for inflation, real gains were closer to just 1%, meaning buyers are barely keeping pace with the cost of living.
How much do apartments really cost in Munich in 2026?
What's the average and median apartment price in Munich in 2026?
As of January 2026, the median transaction price for apartments in Munich is approximately 10,500 euros per square meter (around 11,300 USD or about 975 euros per square foot), while the average sits slightly higher at roughly 10,800 euros per square meter due to luxury properties pulling up the mean.
When translated into price per square meter, this means most buyers encounter listing prices between 8,800 and 14,500 euros per square meter (roughly 9,500 to 15,700 USD per square meter), depending on whether the apartment is in an outer district or a prime central location near the Isar River.
The typical price range that covers around 80% of standard apartments for sale in Munich in 2026 falls between 350,000 and 1,300,000 euros (approximately 380,000 to 1,400,000 USD), which reflects everything from small studios in peripheral neighborhoods to three-bedroom family apartments in desirable areas.
How much is a studio apartment in Munich in 2026?
As of January 2026, the typical price for a studio apartment in Munich is around 315,000 euros (approximately 340,000 USD or 315,000 EUR), based on the median price per square meter multiplied by the standard Munich studio size.
For entry-level to mid-range studios in Munich, expect to pay between 270,000 and 350,000 euros (about 290,000 to 380,000 USD), while high-end or luxury studios in prime central neighborhoods like Schwabing or Maxvorstadt can reach 400,000 to 450,000 euros (430,000 to 485,000 USD) or more.
Studios in Munich typically measure between 25 and 35 square meters, with 30 square meters being the most common size you will find on the market, which is fairly compact compared to other European cities but standard for Munich.
How much is a one-bedroom apartment in Munich in 2026?
As of January 2026, the typical price for a one-bedroom apartment in Munich is approximately 525,000 euros (around 565,000 USD or 525,000 EUR), which reflects a standard 50 square meter unit at the median price level.
Entry-level to mid-range one-bedroom apartments in Munich generally cost between 440,000 and 550,000 euros (about 475,000 to 595,000 USD), whereas luxury one-bedroom units in prestigious areas like Bogenhausen or Au-Haidhausen can command 650,000 to 725,000 euros (700,000 to 780,000 USD).
One-bedroom apartments in Munich typically range from 45 to 55 square meters, with 50 square meters being the standard size for this category in the local market.
How much is a two-bedroom apartment in Munich in 2026?
As of January 2026, the typical price for a two-bedroom apartment in Munich is around 790,000 euros (approximately 850,000 USD or 790,000 EUR), calculated using a standard 75 square meter layout at the median price per square meter.
Entry-level to mid-range two-bedroom apartments in Munich's outer districts typically cost between 660,000 and 820,000 euros (about 710,000 to 885,000 USD), while luxury two-bedroom units in central or premium neighborhoods can reach 950,000 to 1,100,000 euros (1,025,000 to 1,190,000 USD).
By the way, you will find much more detailed price ranges for apartments in our property pack covering the property market in Munich.
How much is a three-bedroom apartment in Munich in 2026?
As of January 2026, the typical price for a three-bedroom apartment in Munich is approximately 1,050,000 euros (around 1,135,000 USD or 1,050,000 EUR), which reflects a standard 100 square meter family unit at median pricing.
Entry-level to mid-range three-bedroom apartments in Munich generally cost between 880,000 and 1,100,000 euros (about 950,000 to 1,190,000 USD), while high-end three-bedroom apartments in prime locations like Lehel or Schwabing-West can exceed 1,300,000 to 1,450,000 euros (1,400,000 to 1,565,000 USD).
Three-bedroom apartments in Munich typically measure between 90 and 110 square meters, with 100 square meters being the most common footprint for family-sized units in the city.
What's the price gap between new and resale apartments in Munich in 2026?
As of January 2026, new-build apartments in Munich typically cost 15% to 20% more per square meter than comparable resale properties, though this gap has compressed somewhat as buyers have become more price-sensitive in recent years.
The average price per square meter for new-build apartments in Munich is approximately 11,000 to 12,500 euros (around 11,900 to 13,500 USD or 1,020 to 1,160 EUR per square foot), reflecting modern energy standards and finishes that command a premium.
Resale apartments in Munich average around 9,300 to 10,500 euros per square meter (approximately 10,000 to 11,300 USD or 865 to 975 EUR per square foot), with prices varying significantly based on building condition, renovation status, and energy efficiency rating.
Make a profitable investment in Munich
Better information leads to better decisions. Save time and money. Download our guide.
Can I afford to buy in Munich in 2026?
What's the typical total budget (all-in) to buy an apartment in Munich in 2026?
As of January 2026, the typical all-in budget to buy a standard apartment in Munich ranges from approximately 340,000 euros for a studio to 1,130,000 euros for a three-bedroom unit (about 365,000 to 1,220,000 USD or 340,000 to 1,130,000 EUR), including purchase price plus closing costs.
Beyond the purchase price, your all-in budget in Munich must include Bavaria's real estate transfer tax (3.5% of the price), notary and land registry fees (around 1.5% to 2%), and potentially a broker fee (often 1.5% to 2% for the buyer when split), which together add roughly 6% to 9% to your total costs.
We go deeper and try to understand what costs can be avoided or minimized (and how) in our Munich property pack.
You can also read our dedicated blog article to understand what you can at different budget levels in Munich.
What down payment is typical to buy in Munich in 2026?
As of January 2026, the typical down payment to buy an apartment in Munich is 20% to 30% of the purchase price, which for a median one-bedroom apartment of 525,000 euros means bringing 105,000 to 158,000 euros (approximately 113,000 to 170,000 USD) in equity.
Most German banks require a minimum down payment of 20% for owner-occupiers, though some lenders may accept as little as 10% to 15% for borrowers with excellent credit and stable income, at the cost of higher interest rates.
To secure favorable mortgage terms in Munich, lenders typically recommend a down payment of at least 25% to 30%, plus you should have enough cash to cover the 6% to 9% in closing costs separately since banks will not finance these expenses.
You can also read our latest update about mortgage and interest rates in Germany.
We made this infographic to show you how property prices in Germany compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
Which neighborhoods are cheapest or priciest in Munich in 2026?
How much does the price per m² for apartments vary by neighborhood in Munich in 2026?
As of January 2026, apartment prices per square meter in Munich range from approximately 6,400 euros in the most affordable outer districts to over 19,000 euros in the most prestigious central areas (about 6,900 to 20,500 USD per square meter or 595 to 1,765 EUR per square foot).
The most affordable neighborhoods in Munich for apartment buyers include Aubing-Lochhausen-Langwied, Feldmoching-Hasenbergl, and Milbertshofen-Am Hart, where prices typically range from 6,400 to 8,500 euros per square meter (approximately 6,900 to 9,200 USD per square meter).
The most expensive neighborhoods in Munich are Altstadt-Lehel, Maxvorstadt, Schwabing-West, and Bogenhausen, where prices typically range from 11,500 to 19,000 euros per square meter (approximately 12,400 to 20,500 USD per square meter), with exceptional properties exceeding even these levels.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Munich.
What neighborhoods are best for first-time buyers on a budget in Munich in 2026?
As of January 2026, the three best neighborhoods for first-time buyers on a budget in Munich are Aubing-Lochhausen-Langwied in the outer west, Feldmoching-Hasenbergl in the north, and Ramersdorf-Perlach in the southeast, all offering significantly lower entry prices than central areas.
In these budget-friendly Munich neighborhoods, typical apartment prices range from 250,000 to 450,000 euros for a one or two-bedroom unit (approximately 270,000 to 485,000 USD), compared to 500,000 to 800,000 euros or more in central districts.
These neighborhoods offer good public transit connections via the S-Bahn and U-Bahn networks, proximity to green spaces and parks, and larger apartment sizes for the money, which appeals to young families and first-time buyers.
The main trade-off of buying in these budget-friendly Munich neighborhoods is longer commute times to the city center (typically 25 to 40 minutes by public transit) and less vibrant nightlife and dining options compared to inner-city districts.
Which neighborhoods have the fastest-rising apartment prices in Munich in 2026?
As of January 2026, the three neighborhoods with the fastest-rising apartment prices in Munich are Sendling-Westpark, Laim, and Pasing-Obermenzing, all of which are catching up to more established premium areas due to improving infrastructure and lifestyle appeal.
These fast-appreciating Munich neighborhoods have seen year-over-year price increases of roughly 5% to 8% in 2025, outpacing the citywide average of around 4%, driven by spillover demand from pricier adjacent districts.
The main driver behind rapid price growth in these neighborhoods is the combination of improved S-Bahn and U-Bahn connectivity, new retail and dining developments, and relative affordability compared to inner-ring districts, which attracts young professionals and families priced out of central Munich.
You can also read our latest update about property price forecasts in Munich.
Don't lose money on your property in Munich
100% of people who have lost money there have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
What extra costs will I pay on top of the apartment price in Munich in 2026?
What are all the buyer closing costs when you buy an apartment in Munich?
The estimated total buyer closing costs for a typical apartment purchase in Munich range from approximately 30,000 to 75,000 euros (about 32,000 to 81,000 USD), depending on the property price and whether a broker is involved.
The main categories of closing costs buyers must pay in Munich include Bavaria's real estate transfer tax (Grunderwerbsteuer), notary fees (Notarkosten), land registry fees (Grundbuchkosten), and potentially a real estate broker commission (Maklerprovision).
The largest closing cost expense for buyers in Munich is typically the real estate transfer tax at 3.5% of the purchase price, which for a 500,000 euro apartment amounts to 17,500 euros and must be paid before ownership can be transferred.
The broker commission is the most variable and potentially negotiable closing cost in Munich, as the 2020 German law now requires the seller and buyer to split the commission equally, meaning buyers often pay around 1.5% to 2% rather than the full 3% to 4% that was once common.
On average, how much are buyer closing costs as a percentage of the purchase price for an apartment in Munich?
The typical percentage of the purchase price that buyers should budget for closing costs in Munich is around 7% to 8%, which falls in the middle of the possible range and accounts for all standard fees including a shared broker commission.
The realistic low-to-high percentage range that covers most standard transactions in Munich is 5% to 9%, with the lower end applying when no broker is involved and the higher end applying when the buyer pays a larger share of broker costs or faces additional legal complexity.
We actually cover all these costs and strategies to minimize them in our pack about the real estate market in Munich.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Germany versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What are the ongoing monthly and yearly costs of an apartment in Munich in 2026?
What are typical HOA fees in Munich right now?
In Munich, condominium fees (called Hausgeld in German) are standard for apartment owners and typically range from 3.50 to 5.50 euros per square meter per month, meaning a 70 square meter apartment would pay roughly 245 to 385 euros monthly (approximately 265 to 415 USD or 245 to 385 EUR).
For basic buildings with minimal amenities in Munich, expect Hausgeld closer to 3 euros per square meter, while modern buildings with elevators, underground parking, and concierge services can push costs to 6 euros per square meter or higher, which significantly impacts your monthly carrying costs.
What utilities should I budget monthly in Munich right now?
The estimated total monthly utility cost for a typical apartment in Munich is approximately 150 to 300 euros (about 160 to 325 USD or 150 to 300 EUR), covering electricity, heating, and water for a one or two-person household.
Depending on apartment size and usage, monthly utility costs in Munich can range from as low as 100 euros for a small, energy-efficient studio to over 400 euros for a larger three-bedroom unit with electric heating in an older, poorly insulated building.
Specific utilities included in the typical monthly budget in Munich are electricity (often 50 to 120 euros), heating (80 to 200 euros depending on heating type), and water (around 25 to 50 euros based on Munich's municipal rates).
Heating tends to be the most expensive utility for apartment owners in Munich, especially in buildings with older gas or oil heating systems and poor insulation, which is why checking a property's energy certificate before buying is essential.
How much is property tax on apartments in Munich?
The estimated typical annual property tax (Grundsteuer) for an apartment in Munich is generally between 300 and 1,000 euros (approximately 325 to 1,080 USD or 300 to 1,000 EUR), though this varies significantly based on the property's assessed value.
Property tax in Munich is calculated by multiplying your property's tax base (determined by the tax office) by the municipal Hebesatz rate, which Munich has set at 824% for the 2025 property tax reform, though this percentage applies to a relatively low base figure.
Depending on property value and location, annual property tax in Munich can range from around 200 euros for a small studio in an outer district to over 1,500 euros for a large apartment in a prime central location, so always ask for current tax documents before purchasing.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Munich.
What's the yearly building maintenance cost in Munich?
The estimated typical yearly building maintenance cost for apartment owners in Munich is between 20 and 35 euros per square meter (approximately 22 to 38 USD per square meter), which for a 70 square meter apartment means setting aside 1,400 to 2,450 euros annually (about 1,510 to 2,650 USD).
Depending on building age and type, yearly maintenance costs in Munich can range from around 15 euros per square meter for newer, well-maintained buildings to over 40 euros per square meter for older buildings facing major repairs like roof replacements or heating system upgrades.
Building maintenance costs in Munich typically include contributions to the Instandhaltungsrücklage (reserve fund) for major repairs, regular maintenance like elevator servicing and cleaning, facade and roof upkeep, and heating system maintenance.
In Munich, much of the regular building maintenance cost is bundled into your monthly Hausgeld payment, but the reserve fund portion is separate and can result in special assessments if the building needs unexpected major repairs, so always review the owners' association meeting minutes before buying.
How much does home insurance cost in Munich?
The estimated typical annual home insurance cost for an apartment in Munich is approximately 60 to 150 euros for contents insurance (Hausratversicherung), which is about 65 to 160 USD or 60 to 150 EUR per year for standard coverage.
Depending on coverage level and property value, annual contents insurance costs in Munich can range from as low as 40 euros for basic coverage in a small studio to over 250 euros for comprehensive coverage including theft, natural disaster, and high-value items in a larger apartment.
Contents insurance (Hausrat) is optional but highly recommended for apartment owners in Munich, while building insurance (Gebäudeversicherung) is typically handled collectively by the owners' association and funded through your monthly Hausgeld payment.
Get fresh and reliable information about the market in Munich
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Munich, we always rely on the strongest methodology we can ... and we don't throw out numbers at random.
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's authoritative | How we used it |
|---|---|---|
| Munich Gutachterausschuss Halbjahresreport | Official city valuation committee using notarized transaction data. | We used its euro per square meter reference levels as our transaction anchor. We adjusted to early 2026 with conservative assumptions. |
| City of Munich Market Analyses | Official municipal page publishing committee market reports. | We verified official publication timing and data update cadence. We used it to confirm our figures match the latest available data. |
| City of Munich Grundsteuerreform | Official city finance page stating the legal property tax multiplier. | We used it to quantify Munich's 824% Hebesatz rate. We translated this into practical property tax estimates for buyers. |
| Bavarian State Tax Authority | Official state tax authority explaining transfer tax rules. | We used it for Bavaria's 3.5% transfer tax rate. We incorporated this into all closing cost calculations. |
| Bundesnotarkammer | Official body for German notaries summarizing broker fee law. | We used it to explain when buyers pay broker fees. We translated the legal rule into practical budget ranges. |
| Finanztip | Widely trusted German consumer finance guide sticking to law and fee tables. | We used it to estimate notary and land registry fees. We combined it with transfer tax for all-in closing cost estimates. |
| Engel & Völkers Munich | Long-running brokerage with published price methodology. | We used it as a reality check against listing prices. We reconciled it with transaction-based official data. |
| HypoVereinsbank Munich Market Report | Major German bank publishing city-specific research. | We used it to cross-check price ranges from a lender's perspective. We validated segment assumptions for owner-occupiers. |
| Colliers Munich Market Report | Global real estate consultancy with standardized research. | We used it to triangulate market direction for 2025-2026. We kept it secondary to official transaction data. |
| Destatis House Price Index | Germany's federal statistics office and national benchmark. | We used it to ground Munich assumptions in the broader German cycle. We used it for direction rather than Munich-specific prices. |
| BDEW Electricity Price Analysis | Main German energy industry association tracking household prices. | We used it to estimate realistic electricity budgets for apartment owners. We converted ct/kWh into monthly spend ranges. |
| Stadtwerke München Water Tariff | Official utility provider's tariff sheet for Munich. | We used it to quantify water costs using the actual January 2026 Munich tariff. We translated it into simple monthly estimates. |
| ImmobilienScout24 | One of Germany's largest property portals with standardized guidance. | We used it to validate typical Hausgeld ranges seen in listings. We kept it as a cross-check for consumer sources. |
| GDV Insurance Statistics | German insurance association publishing official industry data. | We used it to anchor insurance discussions in actual market figures. We gave practical premium ranges for apartment owners. |
| Immowelt | Major German property portal with district-level price tracking. | We used it for neighborhood price comparisons and recent trends. We combined it with official data for comprehensive coverage. |
| Mr. Lodge Munich | Long-standing Munich market expert with published price analysis. | We used it to verify price trends and segment differences. We cross-checked their data against official transaction figures. |
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Germany. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
Related blog posts