A recent report found that house prices in Germany’s North Sea islands are rising significantly. Local authorities are trying to combat the problem, discussing plans to ban the construction of new homes.
Housing prices in the North Sea islands are rising
The latest coastal report, published by real estate agency Von Poll, showed that house prices in the North Sea islands are rising rapidly. Price issues in the North Frisian Islands, located in Schleswig-Holstein, grew by 17.1 percent in the first quarter of 2022, to an average of 14,000 euros per square meter. Thus, an apartment of 30 square meters costs an average of 425,000 euros, and 100 square meters costs about 1,400,000 euros.
Prices in the East Frisian Islands, located in the village Lower Saxonyalso increased significantly, increasing in the first quarter by 5.7 percent to an average of 8.206 euros per square meter.
Demand stimulates price growth in Zilt
The island of Sylt, where it overheated the most, suffered the most from the rise in house prices. housing market from the northern islands. Sült is one of the most famous and popular tourist destinations in Germany, which is reflected in real estate prices on the island, with housing costs over the past year it grew by 21.7 percent.
Today, the average house costs about 18,700 euros per square meter. Hunters in Zylt can expect to pay about 560,000 euros for an apartment of 30 square meters and an average of about 1,870,000 euros per 100 square meters.
With low demand and rising prices, people are looking buy a house on the islands of the North Sea began to look for houses further. This has led to a significant increase in house prices on the neighboring mainland. On the mainland of North Friesland, prices have risen by an average of 26.2 percent over the past year, to about 2,650 euros per square meter. The East Frisian counties of Wittmund (22.8 per cent) and Aurich (22 per cent) and the district of Dietmarschen (27.6 per cent) in Schleswig-Holstein saw a similar increase.
Housing regulation is being discussed
Housing prices in the North Sea islands have risen so much that locals can no longer afford to live on them. Local reporters say the islanders were forced to move to the mainland and travel to work. A recent survey on Sylt concluded that the island was overcrowded and too much living space was used improperly. New rules banning the construction of new homes are currently being discussed.
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