The affluent international clientele keeps prices high in Munich.
Munich The dimension is also exceptional in European comparison. One of the largest real estate developments on the continent is being built on an area of around 350 hectares in the Freiham district of Munich. A mixture of living, working, shopping and leisure is planned. 30,000 people are expected to live there by the end of the decade, despite the Corona construction freeze, shortage of materials and rising interest rates.
“Fortunately, we started our project back in 2018, so a lot was still going on as normal,” Silvia Wolf looks back. She is Head of Acquisition and Business Development at the responsible project developer Rosa Alscher. The first 140 apartments should be ready for occupancy next summer.
The major project in Freiham is a symbol of the urban development problems in Munich. The city grows by more than 20,000 people every year, and the number of inhabitants is likely to exceed 1.6 million in the near future. The newcomers to Munich are encountering a housing market in which there is virtually no supply with a vacancy rate of 0.1 percent.
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