Sub-market | 2012 transactions | 2013 transactions | Change [%] |
---|---|---|---|
Leasehold properties | 22 | 26 | + 18 |
Developed sites | 1,451 | 1,509 | + 4 |
Undeveloped land | 752 | 772 | + 3 |
Individually owned properties | 3,302 | 3,670 | + 11 |
Total | 5,527 | 5,977 | + 8 |
Compared to the year before, the number of sales contracts recorded rose by a (significant) 8% to a total of 5,977 and the total value of the transactions was also significantly higher than that of the year before, rising by 9%. The market for individually owned properties in particular registered strong growth in sales volume.
Sub-market | 2012 sales total (in million euros) | 2013 sales total (in million euros) | Change [%] |
---|---|---|---|
Leasehold properties | 31 | 14 | - 55 |
Developed sites | 843 | 886 | + 5 |
Undeveloped land | 82 | 83 | + 1 |
Individually owned properties | 491 | 588 | + 20 |
Total | 1,447 | 1,571 | + 9 |
Undeveloped land
The market for undeveloped land stabilised in 2013, with the number of transactions rising by 3% with a moderate increase in transaction value.
In 2013 a significant price rise was registered in the case of plots of land purchased for the construction of individual homes. In contrast, the price of land for the construction of apartment blocks was aligned closely with the individual land value level although, in a number of prime locations, significant price rises were also registered.
Developed sites
In the case of developed sites the number of transactions rose by 4%, with transaction values even rising to 5% compared with the year before.
In the market sector for multi-dwelling units there was an increase in sales both in the sub-market for renovated buildings and the sub-market for unrenovated buildings. In the case of unrenovated multi-dwelling units the purchase price level rose by almost 20%, while the price rise in the case of renovated multi-dwelling units was around 5%.
In the case of developed plots of land with individual properties, the year 2013 saw more than 500 sales contracts with detached and semi-detached houses from the existing housing stock attracting, in some cases, significantly higher prices than in previous years.
Owner-occupied flats
In 2013, too, the market for owner-occupied flats once more made up around 60% of all property transactions in the City of Leipzig, with the so-called 'first-time sale' of renovated flats once more accounting for the highest number of transactions. In these transactions it is assumed that, as a rule, the sale takes place before the renovation process begins. Overall, 2013 once more saw a higher number of transactions involving the resale of renovated properties or properties built after 1990 than the number of first-time sales. The average purchase price of renovated flats for first-time sale rose once more in 2013 by approximately 5% to €2,503 per square metre of living space, with prices in general varying in the range between €1,700 and €3,718 per square metre of living space. In the case of the resale of renovated flats, prices ranged from €148 to €2,415 per square metre of living space. At €1,055 per square metre of living space, the median value remained almost the same as the year before.
Flats in newly constructed housing complexes (including parking space or underground garage parking) achieved an average purchase price of €2,972 per square metre of living space in 2013. This represents a considerable increase on the previous year's purchase price level (+ 11%). There was also a clear rise in the number of transactions (+ 65%).
Purchase price [Euro/sqm per living space] | |||
Min. | Max. | Average | |
Existing building, first sale after renovation – average purchase price (excl. parking space or underground garage parking) | 1,700 | 3,718 | 2,503 |
New building, first sale - average purchase price (incl. parking space or underground garage parking) | 1,750 | 4,471 | 2,972 |
Whereas 96% of purchasers of property involving first-time sales in renovated buildings do not come from Leipzig, in the case of subsequent sales of flats the number of purchasers not coming from Leipzig amounted to only 61%.
In contrast, in the case of new buildings (first-time sale) the percentage of purchasers resident in Leipzig was approximately 50%.
The commercial property market
In 2013 the number of transactions involving undeveloped land for commercial use declined but the prices paid were for the most part above the 2012 land value level.
In the case of developed commercial properties there was a slight fall in the number of transactions and in overall transaction values.