New-build or existing property: which is more expensive?

However, this does not take into account the varying state of the art or the architecture of the property. If these differences in quality are factored in, a new-build property is approximately 10 per cent to 20 per cent more expensive than an existing property, as the buyer also gains a great deal of freedom in terms of design.

Exceptions to this are listed historic buildings, some of which command prices significantly higher than those of new-build properties. In particular, the increasingly stringent requirements of the Energy Saving Ordinance (EnEV) have been driving up construction costs in recent years – and with them, the prices of new-build properties. Looking at the situation across Germany as a whole, prices for new-build properties have risen by almost 40 per cent since 2007. By comparison, the cost of older properties has risen by only 24 per cent.