Against Price Trend: Renovated Apartments Significantly More Expensive - Dresden and Leipzig apartments defy Saxony’s cooling property market in 2024
Saxony’s real estate market showed signs of recovery in 2024, with an 8% rise in purchase contracts compared to the previous year. Yet while overall property prices dipped slightly, apartments in Dresden and Leipzig bucked the trend—costing far more than new builds in the region.
The latest annual report from the Upper Expert Committee for Property Values reveals a mixed picture. In Dresden, buyers paid an average of €6,391 per square metre for apartments, a jump of €731 from 2023. Leipzig saw a similar rise, with prices hitting €6,315 per square metre—€330 higher than the year before. Both cities now exceed the cost of new builds, which stand at €5,550/m² in Dresden and €6,000/m² in Leipzig.
The report highlights a clear divide: while most of Saxony’s property prices softened, demand for apartments in its two largest cities pushed costs upward. With building land prices holding firm, the trend suggests a persistent gap between urban and regional real estate markets.
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