ALTSTADT – OLD TOWN
Residential space in Munich can be cheap even according to international price ranges. About 20,000 euros per square meter was paid last year for an apartment in the Glockenbach district of Munich. Absurd? Not if you’re used to London rates. In the Van project in Hyde Park in London, the current price per square meter is 95,000 euros.
Now in the center of Munich you can not buy high-class housing costing less than 1 million euros. The price per square meter in Maxforstadt and Isarforstadt ranges from 7,000 to 15,000 euros. And the difference in price levels is rather theoretical. Because there are simply no offers in this category. The actual cost per square meter of housing starts from 9000 euros.
Houses in the city center are rare. If a house is built there, the buyer must consider not only the high price, but also be prepared to live in the backyard. The same applies to studio houses in Augustenstrasse. Despite this location, the costs will be at least 1.1 million euros.
Still, such expensive properties in the old town do not always find a buyer. If the price exceeds 13,000 euros per square meter, the buyer must be satisfied with everything, including the view from the windows. For a rent of 30 euros per square meter, the apartment should be furnished and include all the basic necessities of life, even a bathrobe and reading glasses. Anyone who has bought an apartment in Lenbach Gerten on the upper floors has made the right choice. The increase in property values in the area since 2007 is more than 50 percent.
This increase in value is not accidental, because the old town is able to surprise and reveal its secrets accumulated over hundreds of years, every day, wherever you go. The center of the Old Town is St. Mary’s Square (Marienplatz). This square – or to be more precise, the column of St. Mary’s – is the center of Bavaria, where all roads of this Southern German land lead like to Rome. Crowds of tourists flock here, every day at 11 and 12 am an ancient clock Glockenspiel with 32 figures and 43 bells in the New City Hall plays out the wedding performance of Duke Wilhelm V. and Renate of Lorraine. The old-timers come here for coffee in the quiet Old Town Hall café, and the gourmets like to visit just a few meters away – the famous Viktualienmarkt food market offers daily specials from many countries to everyone, as well as relaxing in the shade of chestnuts in the beer garden and appreciating authentic Bavarian beer.
Perhaps the most frequently asked question one hears in downtown Munich is, “How do I get to the Hofbräuhaus?” The world’s most famous Bavarian beer garden is also a stone’s throw from Marienplatz.
The list of places to visit is long, and at the top of it all is the Old Town, with its stately churches of the Frauenkirche, the Theatinerkirche, the Old Peter, the unusual Azamkirche on Sendlinger Strasse, and the opera house which never fails to delight and delight its lovers from all over the world. The residence of the Bavarian royal family is here, as well as the ancient gateways to the old town of Isator, Sendlingertor and Karlstor. From here, you emerge into the huge English Garden, the pride of the Bavarian capital, where you can spend the day and leave the hustle and bustle of the city behind the park gates.
Living in this neighborhood is expensive, but very pleasant, it’s never boring, but even the main streets are quiet at night, the peace and relaxation is not disturbed by anyone.
The district of Lehel still retains a light, somewhat rustic charm, but the prices of the houses here are not at all as pleasant. This is especially true of the houses on Lerchenfeldstrasse, where there is a lot of greenery, but perhaps a bit noisy during the day.
Especially the old Art Nouveau style buildings are in demand. However, for such a home will have to pay 14 500 euros / 1 m2. So the owners will not only get a fantastic view of the Isar, but also the constant traffic jams in front of the house. This also applies to the Sternstraße, which is also a street with heavy traffic.
It is quieter only near the metro station Lehel, St. Anna Strasse and near St. Anna Platz. A renovated apartment in this area you will buy for at least 16,000 euros/1m2. The rents have also increased enormously. The rents range from 20 to more than 40 euros/m2. But such offers are still rare. It will take a lot of patience to find a really good older apartment in a quiet location.
Quite a few celebrities live in the Lehel area, such as actor and photographer Hansi Kraus. He is known as the hero of Ludwig Thom’s film “Hooligan Stories.” For him and his wife, Lehel is the perfect place to live. “We’re not far from Isar and can get into town quickly if necessary,” Kraus says. It’s also a short walk to Englische Garten. Hansi’s car broke down more than 10 years ago, and the actor and his wife have given up on it completely. In any case, there is no parking in Lehel, except for residents’ personal parking spaces. Hansi Kraus appreciates the stability of the neighborhood. After a hundred years since its founding, the place has hardly changed.