Munich property market Q3/2026: what the valuer sees now

Where does the Munich property market stand after the third quarter of 2026? In about four minutes, this video puts the key figures into context – interest rates, purchase prices, rents, capitalisation rates, new construction and regulation – the way we use them as valuers in our appraisals. You will find all key figures in detail in the Munich market report Q3/2026.

What you will learn in the video

• Interest rates: ECB key rate 2.65 %, 10-year federal bond 3.25 % on average in Q3, 10-year mortgage rate around 4.2 % in September.
• Purchase prices: existing apartments in the first half on average approx. +1 %, new-build in average locations approx. 9,800 €/m² (approx. −2 %); asking prices in Q3 approx. −0.4 %.
• Rents: new-letting rents +2.8 % on the previous year, asking rent for existing apartments 20.20 €/m², official rent index (Mietspiegel) 2025 on average 15.38 €/m².
• Income properties: capitalisation rate for rental apartment buildings around 2.8 % (previously 2.6 %), gross rent multiplier around 30x (previously 31x).
• Supply and rules: 4,348 completions in 2025, permits +18 %, fast-track approvals (Bau-Turbo), rent cap (Mietpreisbremse) until 2029, Building Modernisation Act.
• Assessment: stable, but no sure thing – location and energy condition make a bigger difference than before.

Legal basis and sources (as of 9 October 2026)

• Munich market report Q3/2026 – all key figures
• Munich valuation committee (Gutachterausschuss) – half-year report 2026
• ImmoScout24 WohnBarometer – Q3/2026
• vdp property price index
• Munich rent index (Mietspiegel) 2025
• ECB interest rate decision of 10 September 2026
• Baufi24 interest rate commentary 10/2026
• Munich construction and housing statistics
• IVD Süd – building permits Bavaria H1/2026
• Bavarian Tenant Protection Ordinance
• Munich office market Q3/2026 – BNP Paribas RE
• Office market Q3/2026 – Cushman & Wakefield
• § 21 ImmoWertV – capitalisation rates

This video is an information and promotional video of the real estate appraisal office STRECKEL for its own services. It provides general information, is not investment, legal or tax advice and does not replace an appraisal of your property.

Legal notice – no investment advice

This video is for general information on property markets only. It is not investment advice or investment brokerage (§ 1(1a) KWG, § 2(8) WpHG, §§ 34f, 34h GewO), not legal or tax advice and not a solicitation to buy or sell. Personal circumstances are not taken into account. No guarantee; past developments are not a reliable indicator of future ones. Liability for investment decisions based on this video is excluded to the extent permitted by law; liability for intent and gross negligence and for injury to life, body or health remains unaffected.