Bavaria

Nuremberg

Nuremberg is Bavaria's second-largest city, offering more affordable investment options while benefiting from Bavaria's low transfer tax.

Last updated: October 28, 2026
Editorially reviewed

Asking price/m² (median): €3,840
Cold rent/m² (median): €14.63
Gross rental yield (median): 4.6%; No. 3 of 10 major cities
Transfer Tax: 3.5%; in Bavaria

Asking prices and rents from online listings for apartments, as of November 4, 2026. Not notarised sale prices.

With more than 500,000 residents, Nuremberg is Bavaria's second-largest city. As everywhere in Bavaria, the Grunderwerbsteuer is 3.5%, and apartments cost much less than in Munich. The economy rests on industry, IT, and services, plus the freight village (Güterverkehrszentrum) on the Main-Danube Canal and the NürnbergMesse trade fair.

Real Estate Market Overview

Bavaria's 3.5% Grunderwerbsteuer is the lowest rate in Germany. Purchase prices are clearly below Munich's. Nuremberg has an above-average share of industry, mainly energy and electrical engineering, mechanical engineering, and automation, plus a digital and IT sector. The NürnbergMesse makes the city a trade fair venue. Siemens is among the companies with more than 1,000 employees in the city, and the wider metropolitan region is home to many Mittelstand companies.

Bavaria's 3.5% Grunderwerbsteuer is the lowest in Germany. In NRW you pay 6.5%, in Berlin 6.0%
Purchase prices are well below Munich's, so the same capital buys a larger apartment or an additional one
Because purchase prices are lower relative to rents than in Munich, gross rental yields are usually higher. The current figures are shown at the top of this page

Best Neighborhoods for Investment

In Gostenhof, St. Johannis, and the Uhlandstraße statistical district (Gärten hinter der Veste), the share of Altbau apartments is well above the city average. Erlenstegen has many single- and two-family houses.

Gostenhof: A former suburb, incorporated in 1825; about half of its apartments are in buildings built before 1949, almost all of them multi-unit buildings
St. Johannis: A district with the Hesperidengärten; its share of Altbau is above the city average
Maxfeld: A central district north of the old town, built up from around 1865; almost all apartments are in multi-unit buildings
Gärten hinter der Veste: A district built on former baroque gardens and orchards; in its Uhlandstraße statistical district the share of Altbau is well above the city average
Erlenstegen: A district incorporated in 1899; around 40% of its homes are in single- and two-family houses, twice the city average

Investment Process

Take the time to review the documents thoroughly.

Step 1: Compare the districts and their tenant profiles; the range runs from small apartments for students to family homes on the edge of the city
Step 2: Get financing offers from several banks, including regional Sparkassen and cooperative banks
Step 3: Engage a Makler with local knowledge who can compare properties across different districts
Step 4: Review the Grundbuch, Energieausweis, Hausgeld, and Instandhaltungsrücklage
Step 5: Budget for Kaufnebenkosten: 3.5% Grunderwerbsteuer, notary and land registry fees of about 1 to 1.5% of the purchase price combined, and any broker commission.

Frequently Asked Questions

What is the Grunderwerbsteuer rate in Nuremberg?

Nuremberg is in Bavaria, which has Germany's lowest Grunderwerbsteuer (property transfer tax) at 3.5%. In NRW the rate is 6.5%, in Berlin and Hessen 6.0% each. For a property costing 300,000 euros, you save 9,000 euros compared to an NRW purchase.

How does Nuremberg compare to Munich for property investment?

Nuremberg has much lower purchase prices per square meter and usually a higher gross rental yield than Munich, with the same 3.5% Grunderwerbsteuer. The same capital buys more floor space or more apartments in Nuremberg.

Is Nuremberg's economy diverse enough to support property investment?

Yes. Nuremberg's economy spans industry, digital and IT services, insurance and financial services, retail, trade fairs, and young start-ups. Companies with more than 1,000 employees in the city include Siemens, DATEV, and NIQ. The city also has universities, including the Friedrich-Alexander University with its Nuremberg economics and social sciences department. This mix makes rental demand less dependent on any single industry.

Rent Prices by Postal Code

All postal codes in Nuremberg

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