ABSTRACT
In terms of population size, Munich is currently the third largest city in Germany after Berlin and Hamburg. The economy of Munich and its city-region is best characterised as a diversified economy with a broad range of activities and a virtual absence of particularly weak sectors. It is hard to enter the Munich housing market, especially for those with limited financial resources such as students or people at the start of their working career. Despite the regional monopoly in salt trade, Munich remained a quite insignificant trade centre compared to other Bavarian cities like Augsburg and Nuremberg for long time. Within the German empire, Bavaria kept a quite autonomous status and the Bavarian kings were able to rule until the end of World War I. The Department of Urban Planning and Building Regulation is amongst others responsible for urban development planning in Munich. In 1998, Perspective Munich was launched as the integrated strategic development concept of the city of Munich.
