The midfielder was on the cusp of joining the German champions on deadline day last summer but the transfer could not be completed in time.
Bayern Munich had an agreement worth €65m in place with Fulham and the player also underwent a medical in Munich.
However, he had to return to England after the transfer fell through and he has again cemented a place in the Fulham team.
The German champions are plotting to sign him in January but according to German daily Bild (via Fussball Transfers), Bayern Munich are afraid that his price could go up.
Palhinha recently signed a new contract, which increased his salary and Fulham are now expected to demand more money.
The Cottagers are claimed to be expected to ask for a fee in the region of €74m before agreeing to sell the player.
Marco Silva, who also signed a new contract at Fulham recently, does not want to lose Palhinha in the middle of the season.
