In accordance with Section 195 (1) BauGB, the office receives a copy of every contract for the transfer of land in Wiesbaden from the notary's office in order to maintain a collection of purchase prices, which enables extensive evaluations of transactions in the various market segments and thus contributes significantly to transparency on the local real estate market. For experts, the real estate market report also includes evaluations of property interest rates and income and asset value factors for individual building categories. In addition, the current comparative factors for detached and semi-detached houses are published each year in accordance with Section 183 of the Valuation Act. These are used to determine the fair market value of a property in accordance with the Inheritance Tax Reform Act.

In 2024, 2,211 purchase contracts were sent to the office by the notaries recording them. This means that the low point of 2023 was passed with only 1,914 purchase contracts and almost 3 percent more purchase contracts were received than in 2022 (2,149). The growth compared to 2023 was mainly due to sales of condominiums and part-ownership, with 1,393 sales, an increase of around 25 percent compared to the previous year (1,111). The increase in developed land sold amounted to 583 sales, up 6% on 2023.

It is striking that the number of developed properties with residential use sold increased in each of the following building categories compared to 2023, with average prices falling across the board. Compared to 2023, the average price declines were around 11 percent for terraced houses, around 16 percent for terraced end-of-terrace houses, around 10 percent for semi-detached houses, semi-detached houses and old villas, around 8 percent for three-family houses and around 28 percent for detached single-family houses. Of course, the individual building categories vary according to location, year of construction, size, etc. and are therefore not comparable one-to-one from one year to the next. However, the fact that all prices are declining while sales figures are consistently rising compared to the previous year clearly shows that the price declines compared to the significantly higher prices before 2022 are now being accepted by the market.

In 2024, for example, the average price in Wiesbaden was €473,000 for terraced houses, €517,000 for end terraced houses and €644,000 for semi-detached houses. Two-family houses cost an average of €579,000 and three-family houses €687,000. Residential property prices were relatively stable compared to 2023, with resale condominiums averaging €3,757/m² of living space, around 1.5 percent below the average price from the previous year. New-build apartments were traded on average around 7.3% below the previous year's prices, although this was mainly due to the fact that proportionately more apartments in prime locations were sold at top prices last year. The average price of a new-build apartment in 2024 was around EUR 7,000/m², ranging from around EUR 4,000 to EUR 14,500/m² of living space.

The average purchase price of 24 undeveloped residential building plots in 2024 was around 16% below the average price in 2023 at EUR 1,166/m². 6 of these purchases were for multi-storey residential buildings and 15 purchases were for the construction of detached or semi-detached houses. Overall, new construction activity is at a very low level. In the years prior to 2022, the number of sales of undeveloped residential building plots was regularly 3 to 4 times, and in some cases 5 times, the sales figures for 2024.

Finally, two notes: Since 2022, the office has published a double page every six months on wiesbaden.de under "Worth knowing" with compact market data to document market developments during the year. The current fee schedule (as of September 1, 2022) is also published here.

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