Apartment buildings in Munich Q3/2026: yield, rates, locations – market report for investors

Is an apartment building in Munich still worth it? The valuer assesses the Munich market for apartment buildings after the third quarter of 2026 for investors: capitalisation rate and multiple since 2019, yield versus German government bonds and mortgage rates, negative leverage, rents by city district on the map, rental potential and the rent cap, conservation areas, energy and land values. 📊 Munich market report Q3/2026: https://realestate-appraisal.de/munic... 👉 Market value appraisal for your apartment building: https://realestate-appraisal.de/bewer... 🏠 Real estate appraisal office STRECKEL: https://realestate-appraisal.de/ 🎬 All explainer videos: https://realestate-appraisal.de/media... Chapters 0:00 Intro 0:09 Market report: apartment buildings in Munich Q3/2026 0:26 Repricing 0:54 Yield versus cost of capital 1:27 Negative leverage 1:53 Rents by city district 2:26 Rental potential 2:56 Regulation, energy, land 3:33 Assessment for investors 4:03 Your next step 4:19 Outro What you will learn • Repricing: capitalisation rate for apartment buildings from approx. 1.4 % (H1 2022) to approx. 2.8 % (H1 2026), multiple from approx. 49x to approx. 30x (local valuation committee). • Yield versus cost of capital: prime residential yield 3.6 % (BNP), German government bond 3.63 % (29 Sept 2026), average mortgage rate 4.16 % (September), early October approx. 4.5 %. • Negative leverage by example: 2.8 % without a loan, approx. 0.7 % return on equity with a 60 % loan at 4.2 %. • Map: asking rents 2025 by city district – city centre from 24 €/m², outskirts partly below 21 €/m². • Rental potential: rent index 15.38 €/m², asking rent 22.93 €/m², rent cap and capping limit. • Regulation: 36 conservation areas, Building Modernisation Act, CO2 cost sharing, lower land prices. Data sources (as of 9 October 2026) • Munich valuation committee, half-year report 2026: https://stadt.muenchen.de/dam/jcr:1ab... • Munich valuation committee, half-year report 2022: https://lhm.muenchen.swm.de/dam/jcr:b... • Munich valuation committee, spring ticker 2026: https://lhm.muenchen.swm.de/dam/jcr:b... • Housing market barometer 2025: https://stadt.muenchen.de/dam/jcr:aad... • Housing market barometer H1/2026: https://lhm.muenchen.swm.de/dam/jcr:3... • Munich rent index 2025: https://stadt.muenchen.de/infos/miets... • Residential investment market Q3/2026 (Haufe, BNP Paribas RE): https://www.haufe.de/immobilien/entwi... • Bundesbank, yields 29 Sept 2026: https://www.bundesbank.de/resource/bl... • Baufi24 interest rate commentary 10/2026: https://www.baufi24.de/presse/pressem... • Conservation areas Munich: https://stadt.muenchen.de/infos/erhal... • Bavarian Tenant Protection Ordinance: https://www.verkuendung-bayern.de/bay... • Building Modernisation Act: https://www.gleisslutz.com/de/know-ho... • CO2 cost sharing: https://www.haufe.de/immobilien/wirts... • City districts: Open Data München, DL-DE BY 2.0 • § 556d BGB (German Civil Code): https://www.gesetze-im-internet.de/bg... • § 172 BauGB (German Building Code): https://www.gesetze-im-internet.de/bb... • § 21 ImmoWertV (German Property Valuation Ordinance): https://www.gesetze-im-internet.de/im... Notes This video provides general information on the Munich market for apartment buildings (data as of 9 October 2026). It is not investment, legal, tax or financing advice and does not replace an appraisal of your property. Data from different sources and dates; examples simplified. The presenter “Jonas” is an AI-generated, fictional person with a synthetic voice. Professional responsibility: Tobias Streckel. Music: “Ad – Ad Ads” by NastelBom (Pixabay Content License). Legal notice – no investment advice General information on property markets only; not investment advice or brokerage (§ 1(1a) KWG, § 2(8) WpHG, §§ 34f, 34h GewO), not legal or tax advice, no recommendation to buy or sell. No guarantee; past developments are not a reliable indicator. Liability excluded to the extent permitted by law (not for intent, gross negligence, injury to life, body or health). Legal notice: https://realestate-appraisal.de/impre...