Affordable housing construction in Munich offers square meter units at a low price of €10.46.
In the residential block on Helmut-Schmid-Allee in Freiham, the atmosphere remains serene with only three children playing in the spacious courtyard, dwarfing a six-story apartment building that remains unoccupied despite being ready for moving-in. A family is expected to move in soon, while the celebration in the nearby kindergarten is well-attended. On Wednesday, Munich's municipal housing company, Munich Living, celebrated the completion of 461 apartments for approximately 1000 tenants. Munich's Mayor of Urban Development, Elisabeth Merk (independent), was present, expressing her approval for additional apartment construction and faster development, but satisfied with the "reasonable construction time."
Rents fall well below the city average
Between Aubing and Germering, a district under development for up to 25,000 Munich residents is envisioned, with a strong emphasis on community welfare. Incorporated into the residential complexes are men's hostels, kindergartens, and community centers that are strategically placed instead of relegated to the edges. Merk commends this approach. The cold rent with Munich Living amounts to 10.46 euros per square meter, significantly lower than the city average of 15.38 euros, with new rentals often costing more. A shortage of affordable housing units in Munich necessitates the construction of many social housing units.
Munich Newsletter
The state capital's latest news is presented. Applications for apartments are still being accepted. While Managing Director Christian Müller (SPD) confirms that even the freely rentable apartments are "price-reduced," their allocation occurs through standard platforms, with a few still available. Applicants are chosen by a random generator, Müller reveals. Construction cost 146 million euros, a "proud price" that was attainable only through financial support from the Free State and municipality. Despite the price, Müller highlights the apartments' quality, finding them "really great."
It should be noted that the specific residential district under construction between Aubing and Germering has yet to be identified in current data. For the most up-to-date information on new developments aligning with the "common good" principle, consult the City of Munich’s official urban planning department or local real estate platforms.
- The new housing complexes being developed between Aubing and Germering, with a focus on community welfare, offer rents at 10.46 euros per square meter, a price significantly lower than the city average, making it an attractive option for potential tenants.
- Despite the high construction cost of 146 million euros for the 461 apartments in the residential block on Helmut-Schmid-Allee, the Managing Director of Munich Living, Christian Müller, finds the quality of the apartments "really great," with a rental rate that is lower than the city average.
- The affordable housing market in Munich is undergoing development, with the construction of many social housing units needed to address the shortage of affordable housing. This housing development, together with up-and-coming projects such as the one between Aubing and Germering, aims to improve the lifestyle of residents while making investment in real-estate an appealing venture for finance-savvy individuals.
