Bernhard Stollreither, the owner of a real estate agency in Tegernsee, has long been handling requests for properties on the water. What he has noticed lately is a shift in buyer motivations. Previously, people sought out lakeside homes for summer stays, but now many buyers want to move permanently to the lakes. They look for homes close to the water, not for leisure alone, but for a new lifestyle.
The lake with no spare houses
At Lake Tegernsee, real estate agents rarely have multiple homes for sale at once. Properties with direct access to the lake are extremely rare. When such homes do come up, interest is intense, and competition is fierce. One home sold for €14,970 per square meter, the highest in the report that analyzed 23 lake regions across Germany.
According to Stollreither, this scarcity is the key to Tegernsee’s high prices. Other lakes in the region don’t match these figures. For instance, Lake Starnberg has a median price of €8,718 per square meter, while Lake Ammersee is even lower at €7,372.
The shift from second homes to primary residences
The German lakeside real estate market is undergoing transformation, driven more by modern work arrangements than by summer tourism. Raphaela Hübner from Von Poll’s office near Lake Constance notes that many people are now seeking to move their main residence to lakes. This is largely made possible by the rise in remote work, which allows for flexible living arrangements.
Paul Schönberger, another real estate expert in Munich, says the current environment has led to more cautious buyers. Demand for properties used solely for vacation has dropped. Hübner adds that the market is now dominated by people buying to live in these homes and investors looking for long-term gains.
The ripple effect — and the falling prices
Not every lake region is thriving. On Lake Chiemsee, for example, home prices have dipped. Schönberger points out that this is due to a surge in available properties, which has created more competition. In Wannsee, southwest of Berlin, prices also show a different trend. The median here is €6,247 per square meter, significantly less than in Bavaria but still higher than the Berlin average.
Mirko Roloff, a broker at Wannsee, says that simply having a lake view isn’t enough to justify premium prices anymore. “Without direct access to the water, like a jetty or boathouse, the property won’t command the same value,” he explains. Many older homes in the area lack these features, which are now key selling points.
For Stollreither, Tegernsee remains the top lake region for property. The limited supply of homes with lake access ensures demand stays strong, even as neighboring lakes see increases. While other lakes are catching up in price, none have matched the unique allure of Tegernsee.
Across Germany, the trend is clear: the lakeside market is no longer just about summer vacation homes. Buyers now seek permanent residence near the water, often driven by the ability to work remotely. Lakes such as Tegernsee, Starnberg, and Ammersee are central in this movement, with prices reflecting the demand for these rare opportunities.
Legal factors also shape buyer behavior. As regulations around second homes become clearer, the market adapts. Stollreither notes that buyers on Lake Tegernsee are mainly interested in creating a long-term base near the lake. This trend has been mirrored in other regions, though with varying degrees of success.
Overall, the shift toward lakeside living is not limited to one region. In the middle price range, where homes cost between €2,000 and €4,000 per square meter, some lakes see strong price growth. Schluchsee in the Black Forest is one example where prices are rising significantly.
Meanwhile, the Five Lakes Region — which includes Starnbergsee, Ammersee, Wörthsee, Pilsensee, and Weilinger See — continues to attract buyers seeking a balance between urban life and natural surroundings. Stroll through these lakes, and it’s clear the real estate market here is evolving, with demand shaping every corner of the landscape.
The future of lakeside real estate in Germany seems bright, but with careful planning. As buyers become more selective, and as regulations shift, the focus remains on direct access to the water and long-term viability. Whether in Bavaria or near Berlin, lakeside living is more than a fleeting trend — it’s becoming a new way of life.