Against Price Trend: Renovated Apartments Significantly More Expensive - Saxony’s housing market splits as renovated apartments surge in price
Saxony’s real estate market saw a mixed picture in 2024. While overall property prices dropped by about €100 per square metre, renovated apartments in Dresden and Leipzig became significantly more expensive. The number of purchase contracts also rose sharply, with some districts experiencing major shifts in sales revenue.
In Dresden, buyers paid an average of €6,391 per square metre for renovated apartments in 2024—€731 more than the previous year. Leipzig followed closely, with prices reaching €6,315 per square metre, up €330 from 2023. Despite these increases, new builds remained cheaper than renovated units in both cities, with Dresden’s renovated flats costing €5,550/m² and Leipzig’s €6,000/m².
The data highlights a clear divide in Saxony’s housing market. Renovated apartments in major cities are becoming pricier, even as overall property values fall. Meanwhile, transaction volumes have surged, reflecting shifting demand and regional differences in pricing trends.
