Corpus Makler · Guide · November 2026
Market value and asking price
Under § 194 of the German Building Code (Baugesetzbuch), the market value (Verkehrswert) is the price that could be achieved in ordinary business dealings. The asking price in the exposé must be distinguished from this: it is a deliberate decision by the seller that should be based on the market value. The purchase price actually achieved may differ from both.
The three methods of the ImmoWertV
The German Property Valuation Ordinance (ImmoWertV) describes three methods. Which one takes priority depends on the type of property:
- Comparison approach: The value is derived from the purchase prices of comparable properties. It is particularly suitable for flats and plots for which there are enough comparable cases.
- Income approach: What matters are the sustainably achievable rental income minus the management costs. It is used mainly for apartment buildings and let properties.
- Cost approach: It takes the land value and the value of the buildings, allowing for depreciation due to age, and adjusts the result using a market adjustment factor. It is often used for owner-occupied detached and two-family houses.
Standard land values and property market reports
The expert committees for property values (Gutachterausschüsse) evaluate all notarised purchase contracts in their region. In North Rhine-Westphalia you can look up the standard land values (Bodenrichtwerte) free of charge on the BORIS.NRW portal. The annual property market reports of the expert committees also contain average values and trends for flats and houses. This data is an important, neutral basis for any estimate.
What determines the value in an individual case
- Location: district, street, surroundings, infrastructure, noise
- Property: living space, floor plan, year of construction, type of construction, plot size
- Condition: modernisations, maintenance backlog, energy performance according to the energy certificate
- Legal aspects: rights of residence, public building encumbrances (Baulasten), hereditary building rights, existing tenancies
- For flats: condition of the common property, size of the maintenance reserve, measures already decided
Market price estimate or appraisal?
For a sale, a well-founded market price estimate by an estate agent is sufficient in many cases. A market value appraisal by a publicly appointed or certified expert or by the expert committee, on the other hand, is useful or necessary if the value has to be reliably proven to a court, the tax office or co-heirs – for example in a divorce, the division of an estate or a gift. Such an appraisal is subject to a fee.
Why online valuations are only a starting point
Online calculators work with average values. They know neither the condition of your property nor the particular features of the street or the building. They are fine as a first orientation, but they are not enough for a decision to sell.
Our support
Corpus Makler prepares a free market price estimate after a viewing, based on your documents and current market data such as standard land values and property market reports. You receive a justified price range. Our estimate is not a market value appraisal under § 194 BauGB – if you need an appraisal, we will tell you who can prepare it.
Further reading
Our guide articles give a general overview (as of November 2026) and do not replace legal or tax advice in individual cases. The German version is binding.
