There is plenty of land for building - prices range from 75 euros/m² to 200 euros/m². Prices in Thuringia are among the lowest for home buyers in all of Germany.

Fig. 1: Comparison of owner-occupied homes in Thuringia and Western German states (total property prices for detached owner-occupied homes (including land and garages) with approx. 125 m² of living area of medium quality)

If you don’t want to build a house, you can rent or purchase an apartment. Good-quality apartments cost some 1,400 euros/m². Premium apartments go for 1,900 to 2,300 euros/m² in Erfurt. Rents in Erfurt are also much lower than in most Western German cities. The housing market is awash with residential space, which helps keep rents down. To rent an apartment with 70 m² of living area and modern amenities, tenants will pay between 4.20 and 7.00 euros/m², depending on its location and amenities.

Fig. 2: Comparison of residential rents in Thuringia and Western German states (net rents without utilities, per m² of living area, per month for 3 rooms with 70 m² of living area of average quality)