Nuremberg is Munich’s affordable sister: Bavarian transfer tax of 3.5 percent, purchasing power above average, purchase prices less than half. With Erlangen and Fürth the region forms a technology hub with high salaries.
Buy or rent?
27.1 years of rentpurchase price divided by annual cold rentBetween 25 and 30 it is balanced: buying pays off with a long horizon and equity.
milinia’s take
- Purchase prices €3,900 per square metre, Erlenstegen and St. Johannis over €5,500, Langwasser and Gostenhof around €3,200.
- Transfer tax 3.5 percent: at €400,000 that is €14,000 instead of €26,000 in NRW.
- Erlangen with medical technology and the university pays Munich salaries; Fürth is the cheap housing alternative.
- Rental yield 3.7 percent, above 4 in Fürth and Schwabach.
Living
Existing flats cost €3,900 per square metre, in Erlenstegen, Mögeldorf and St. Johannis over €5,500, in Langwasser, Gostenhof and Schweinau around €3,200. New lettings at €12 excluding utilities. The metropolitan region with Erlangen, Fürth and Schwabach has 3.6 million inhabitants and one of the lowest unemployment rates in Germany. Fürth sits at €3,400 per square metre with an underground link to Nuremberg, Erlangen at €4,600 because of medical technology.
Earning
Median €4,400 gross, above that in medical technology, electrical engineering, automation and insurance. Purchasing power index 106. Erlangen has the region’s highest salary level with a €5,400 median. The combination of Bavarian salaries and Franconian prices makes the region one of the most saver-friendly in Germany.
Taxes and levies
Bavaria: transfer tax 3.5 percent. Trade tax multiplier 447 percent, property tax multiplier under the Bavarian area model 555 percent, though base amounts are lower. Church tax 8 percent.
Investing
The gross yield sits at 3.7 percent, in Fürth, Schwabach and the outer districts above 4. Nuremberg benefits from inflows from Munich, where specialists can no longer carry the prices, and from the ICE to Munich in an hour. The city is developing the Lichtenreuth quarter by the main station with 2,500 flats by 2030. Investors choose Gostenhof, Schweinau and St. Leonhard for catch-up potential or Fürth for yield.
milinia’s view
Nuremberg is the best deal in Bavaria. Whoever earns in Erlangen, lives in Fürth and buys with 3.5 percent tax has Munich without Munich costs.
Try it yourself
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