● Properties around Lake Tegernsee in Bavaria recorded the most expensive prices per square meter in the first half of 2024 at an average of 10.223 and the highest price increase of 9.8 percent compared to the same period last year

● The sharpest fall in property prices in the first half of 2024 compared to the first half of 2023 was around Lake Edersee in Hesse at -9.6 percent, around Lake Ammersee in Bavaria at -8.5 percent and around Wannsee in Berlin at -7.2 percent

● The cheapest residential properties with a direct lake location can be found at €1.664/m2 at the Bleichlochtalsperre in Thuringia, with prices

increasing by 5.6 percent compared to the same period last year

Frankfurt am Main, 3 DECEMBER 2024 - Properties on or in the immediate vicinity of a lake have a unique charm. This is because living by the water creates a special atmosphere, characterized by tranquility, proximity to nature and the opportunity for a wide range of leisure activities - be it walks along the shore, water sports or simply enjoying the view. This unique combination of nature and recreation makes properties near lakes particularly desirable and increases their value in the long term. Properties in the first row of the lake, possibly even with their own lake access, are absolute collector's items and are real rarities due to their limited availability. It is therefore often worth taking a look at the properties behind them. In the latest Lake Report, the VON POLL IMMOBILIEN experts (www.von-poll.com) have analyzed the development of property prices for residential properties around Germany's most beautiful and best-known lakes* and compared the development of average purchase prices in the first half of 2024 with the first half of 2023. In addition, the experts present the highest property price currently on offer for the respective lakes.

"Anyone who is lucky enough to own a property or plot of land in the first row on a lake rarely lets it go - it often remains in the family for generations. Prospective buyers looking for such a property must therefore not only be patient, but also be prepared to pay correspondingly high collector's prices. However, a look at the second row on the lake or even behind it can be worthwhile, as the price differences are often considerable. Attractive alternatives can be found that still offer the advantages of being close to the lake," says Daniel Ritter, Managing Partner at VON POLL IMMOBILIEN. He adds: "Customers who are interested in properties in these lake locations should register early and create search profiles in order to be able to access hidden offers - so-called secret sales - as these properties are often not publicly marketed."

The four frontrunners with the most expensive property prices around the respective lake are all located in Bavaria with a mountain panorama and comparatively milder climate. Unsurprisingly, Tegernsee in Upper Bavaria took first place in the first half of 2024 with an average residential property price of €10,223/m2 and a maximum price of €16,969/m2. In addition to the highest prices per square meter, Lake Tegernsee also recorded the highest price increase in the ranking - the average price for residential properties climbed by 9.8 percent in the first half of 2024 compared to the same period last year.

Lake Starnberg followed far behind at €8,001/m2, Lake Königssee at €7,914/m2 and Lake Ammersee at €7,060/m2. While prices on Lake Starnberg and Lake Königssee fell moderately by -4 percent and -4.1 percent respectively, prices on Lake Ammersee fell by -8.5 percent, the second largest drop in the entire ranking.

"Prospective buyers looking for a property on the first line of Lake Wannsee are very discerning, but also very solvent. They are interested in jetties and their own access to the lake. Of course, this comes at a price, as the average standard land value with direct lake access is 1.5 times the other standard land value - up to twice the standard land value is conceivable," explains Mirko Roloff-Oestergaard, branch manager at VON POLL IMMOBILIEN Berlin - Lichterfelde/Lankwitz, Nikolassee/Wannsee and Grunewald. He continues: "There are currently still some houses and plots available on the eastern shore of Wannsee. However, the Wannsee district is located within a radius of five kilometers around the lakes and is generally extremely popular with customers because of the local recreation and living in the countryside. We are registering more inquiries again."

Property buyers at Wannsee in the Berlin district of the same name have to calculate significantly less than at Lake Starnberg, Königssee and Ammersee. A square meter of living space in the defined analysis radius around Wannsee cost an average of EUR 5,839 in the first half of 2024, which corresponds to a price drop of -7.2 percent compared to the previous year and thus the third-strongest price reduction in the ranking of the lakes analyzed. Prospective buyers can expect a similar price level when purchasing a property on the Bavarian lakes Chiemsee (€5,750/m2) and Eibsee (€5,667/m2) as well as on Lake Constance (€5,155/m2), the largest lake in Germany, which stretches across two federal states - Baden-Württemberg and Bavaria. However, prices on the three lakes stagnated between -0.6 percent and 0.2 percent in the first half of 2024 compared to the same period of the previous year.

"Demand for properties with direct access to Lake Constance remains high. However, the high demand is offset by a very low supply, as most properties on the lake are passed down from generation to generation within the family - which ensures price stability. If a property in the first row of the lake does come up for sale, the average offer period is only a few weeks and prices are generally very high - but they must not be excessive. A property in the first row on Lake Constance can sometimes cost twice as much as a property in the second row," says Raphaela Hübner, branch manager at VON POLL IMMOBILIEN Konstanz on Lake Constance. She continues: "For most of our customers looking for a property like this, the main criterion is a secluded location with direct access to the lake. They are looking for absolute privacy and tranquillity. Most of the properties with direct lake access that are still available are located in Dingelsdorf and Litzelstetten."

Those looking for a house or apartment around Hamburg's Öjendorfer See had to calculate with an average of €4,715/m2 in the first half of 2024, which is 5 percent less than in the first half of 2023. Property prices between €3.000 to €4,000 for one square meter of living space were paid by prospective buyers at Brombachsee in Bavaria (€3,800/m2), Schluchsee in Baden-Württemberg (€3.468 €/m2), at Großer Plöner See in Schleswig-Holstein (€3,168/m2) and at Kulkwitzer See in Saxony (€3,028/m2). While residential property prices fell by -5.3 percent at Brombachsee, -2.8 percent at Schluchsee and -1.4 percent at Großer Plöner See in the first half of 2024, they rose slightly by 1.7 percent at Kulkwitzer See.

Price increases were also recorded at Müritz in Mecklenburg-Western Pomerania and Steinhuder Meer in Lower Saxony, where prices per square meter for residential properties climbed by 3.8 percent to 2,887 euros and 6 percent to 2,729 euros respectively.

"Currently, prospective buyers are more likely to find properties and plots of land at reasonable prices with a lake location south of Müritz, on the smaller lakes. In general, however, the supply of properties with lake access is scarce and relatively few new offers are coming onto the market. When it comes to properties directly on the Müritz, we are dealing with absolute collector's items for which customers are certainly prepared to pay collector's prices," explains Christian Sieg, branch manager at VON POLL IMMOBILIEN Waren (Müritz). He adds: "The search queries come from both local and foreign prospective buyers. The most important factors in their search are the secluded location, privacy, the size of the jetty, water access and, of course, the property's facilities."

Other popular lakes with property prices in the €2,000/m2 to €3,000/m2 segment are Biggesee in North Rhine-Westphalia (€2.674 €/m2), Lake Laach in Rhineland-Palatinate (2,588 €/m2), the Großer Stechlinsee in Brandenburg (2.561 €/m2), Lake Schwerin in Mecklenburg-Western Pomerania (2,426 €/m2) and the Losheim reservoir in Saarland (2,242 €/m2). However, only Lake Laach recorded a price increase of 4.9 percent, while prices at the Großer Stechlinsee stagnated at 0.6 percent and fell by between -5.9 percent and -2.9 percent at the other lakes.

For €1,864/m2 and €1.855/m2, residential property can be purchased around the Großer Goitzschesee in Saxony-Anhalt and the Edersee in Hesse, with both lakes showing significant price reductions in the first half of 2024 compared to the same period of the previous year. While average prices per square meter fell by -6.7 percent at the Great Lake Goitzsche, they fell by as much as -9.6 percent at Lake Edersee - the biggest price drop in the entire ranking. Prospective buyers can find the lowest average prices around the Bleilochtalsperre in Thuringia. Although prices there rose by 5.6 percent, they are still at a comparatively low price level of €1,664/m2.

All data and graphics may be used and published with a reference to the following source: von Poll Immobilien GmbH (www.von-poll.com).

About von Poll Immobilien GmbH

The Europe-wide active von Poll Immobilien GmbH (www.von-poll.com) has its headquarters in Frankfurt am Main. Its activities focus on the brokerage of properties of stable value in prime residential and commercial locations. With more than 400 stores and over 1,500 colleagues, VON POLL IMMOBILIEN, which also includes the VON POLL COMMERCIAL, VON POLL REAL ESTATE, VON POLL FINANCE and VON POLL HAUSVERWALTUNG divisions, is represented in Germany, Austria, Switzerland, Spain, Portugal, Hungary, Italy, the Netherlands, France and Luxembourg, making it one of the largest real estate companies in Europe. The Capital Broker Compass once again awarded VON POLL IMMOBILIEN top marks in its October 2024 issue. The managing partners are Daniel Ritter and Sassan Hilgendorf. The management team includes Beata von Poll, Tommas Kaplan, Dirk Dosch and Wolfram Gast.