With German housing prices on the rise across the country, more and more potential homebuyers are flocking to eastern cities like Dresden and Leipzig, where standard two-bedroom apartments are more affordable when compared to the offering in Hamburg and Munich, reports the New York Times. Since the start of the decade, prices across Germany have seen a 65-percent hike, according to numbers released by the real estate association IVD, driven by the country’s strong economy, low interest rates as well as growing interest in homeownership. A standard 861 sq ft condo in Desden, which averages around $200 per sq ft, is still about a third cheaper than a comparable unit in Munich, the country’s most expensive housing market, according to the Times report. While Berlin commands top housing prices in east Germany (with apartments selling for $250 per sq ft), Dresden comes in second. Prices for luxury apartments there can sell for more than $600 per sq ft.
