Building land prices rise to record high

Vacant lot in Kreuzberg, over dts
Vacant lot in Kreuzberg, over dts
The prices for building land have never cost as much as last year.

The average purchase value of ready-to-build plots in 2019 was 189,51 euros per square meter, the Federal Statistical Office (Destatis) announced on Wednesday. Ten years earlier it was around 122,00 euros.

Investors in the city-states of Berlin and Hamburg had to pay a particularly large amount. There, the square meter of building land cost 1.328,48 euros or 1.157,91 euros. In contrast, the average purchase values ​​were lowest in Thuringia, Saxony-Anhalt and Mecklenburg-Western Pomerania: Here they were below 60 euros per square meter. In principle, the average purchase value increases with the size of the municipality. In municipalities with fewer than 2.000 inhabitants, an average of EUR 66,04 per square meter was paid. In the 14 largest cities with at least 500.000 inhabitants, it was 17 times as much: 1.128,33 euros. About 81 percent of all building land sales were transactions of land in residential areas. These were also the most expensive of all construction areas, with the price per square meter in residential areas with closed construction, at 285,76 euros per square meter, around 76 euros higher than in residential areas with open construction.

In contrast, the average price per square meter in village areas was 56,75 euros, according to statisticians.