Nuremberg has half a million inhabitants, and the city keeps growing – with decreasing birth rates, this phenomenon is due to increasing migration into the city, mainly from Northern Bavaria and the remaining Bavarian territory. With the increasing number of inhabitants, the average sum paid for rented accommodation also went up: from 4.71 Euros per square metre in 2000 to 5.50 Euros in 2004.
After a few years of inactivity, building in Nuremberg has increased again since 2004. In 2004, prices for building ground for residential housing for several families went down slightly: depending on the location, they were between 340 and 570 Euros per square metre, for detached or semi-detached houses between 300 and 490 Euros per square metre.
Detached houses were priced at between 235,000 and 560,000 Euros. Buyers of terraced houses, depending on location, had to pay between 180,000 and 235,000 Euros. Prices for apartments were between 1.900 and 2.400 Euros per square metre for first buyers, and between 1,000 and 1,700 Euros for further sales.
