Residential locations by lakes traditionally belong to the most exclusive segments of the German real estate market. They represent a special retreat, a high quality of life, and long-term value retention, which results in sustained interest in these properties, even though supply is limited. Experts from VON POLL IMMOBILIEN examined the purchase price development for residential properties in Germany's lake regions in the first half of 2026 compared to the first half of 2025 as part of the Lake Report 2026, and determined the highest asking prices.
Daniel Ritter, Managing Partner at VON POLL IMMOBILIEN, highlights that properties with lake views form an exclusive market segment. This is characterised by limited supply and high demand, which can lead to a decoupling from general price developments. He notes that while the overall market has changed in recent years, sought-after lake locations remain attractive for buyers and investors. Despite regionally differing price developments, an upward trend in prices for residential property was recorded in 17 of the 23 analysed lake regions in 2026.
Bavaria's Tegernsee maintains its top position among the analysed lakes. The average square metre price for a residential property there was 9,876 EUR in the first half of 2026. The highest asking price per square metre reached 14,970 EUR, which represents the highest value in the entire ranking. The Starnberger See follows at a significant distance with an average price of 8,718 EUR per square metre, and the Ammersee with 7,372 EUR per square metre. At these lakes, the maximum prices significantly exceeded the average values, for example, with 11,877 EUR per square metre at Starnberger See and 9,743 EUR per square metre at Ammersee. Given the already high price level, property prices here rose moderately: by 2.9 per cent at Tegernsee, and by 1.5 per cent each at Starnberger See and Ammersee compared to the same period last year.
Bernhard Stollreither, office owner at VON POLL IMMOBILIEN Tegernsee, explains the particularity of Tegernsee: plots of land with direct lake access are rarely privately owned and accordingly come onto the market extremely infrequently. The micro-location, proximity to the lake, the view, and the general quality of living largely determine the purchase price. Quiet locations with high quality and good infrastructure are particularly sought after. Energy efficiency is gaining increasing relevance. In addition, regulations on second home use influence demand. Buyers inform themselves intensively about usage possibilities and potential restrictions. The market is mainly shaped by buyers who view Tegernsee as a long-term place of residence or a central point in their lives.
Other lake locations in Germany also show significant price levels. At Bavaria's Königssee, the cost for a residential property in a lake location is approximately 6,993 EUR per square metre. Berlin's Wannsee records 6,247 EUR per square metre. At Bavaria's Eibsee, 6,221 EUR per square metre is estimated, and at Chiemsee, 5,826 EUR per square metre. Baden-Württemberg's Bodensee (Lake Constance) is at 5,352 EUR per square metre, and Hamburg's Öjendorfer See at 4,880 EUR per square metre. Notably high prices were achieved particularly at Wannsee with 8,765 EUR per square metre and at Eibsee with 8,912 EUR per square metre.
Mirko Roloff, Branch Manager at VON POLL IMMOBILIEN Berlin, emphasises that properties in direct lake locations prove to be significantly more value-stable. While the general residential property market is more strongly influenced by financing costs and economic conditions, genuine lake locations retain their special status. Unique features such as direct water access and a private jetty act as essential value drivers and ensure above-average value stability. For these rare locations, special prices can also be achieved under current conditions, provided that price expectations remain realistic. A mere lake view or a location near a lake without direct water access, however, no longer automatically leads to a significant price premium. Professional guidance and a realistic assessment of the market can still lead to good results in the current environment.
Regional price development is heterogeneous. While average square metre prices rose by 4.4 per cent at Öjendorfer See and by 4.8 per cent at Wannsee, they increased by 8.2 per cent at Eibsee. Prices fell by 2.2 per cent at Bodensee, by 4.3 per cent at Chiemsee, and by 4.9 per cent at Königssee. The market for lakeside properties remains stable, with high-quality properties in attractive locations continuing to meet high demand.
