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Rent shock in Germany: five-year comparison shows brutal spiral

2021-08-06T14:18:20.590Z


Life in major German cities is becoming more and more expensive. A five-year comparison now shows where tenants pay particularly high.


Life in major German cities is becoming more and more expensive.

A five-year comparison now shows where tenants pay particularly high.

Nuremberg - A large annual comparison by the immowelt Group shows that rental prices have increased further over the past five years.

Those who want to live in a big city now have to dig deep into their pockets.

Rental prices were increased in all 80 cities examined.

In 34 even by more than 20 percent.

The rents for apartments between 40 and 120 square meters from all years of construction were examined.

The observation period was the first half of each of the years 2016 to 2021.

Rental price: the front runner in Berlin

According to immowelt, Berlin is the front runner in rent increases.

In the meantime, an average price of 12.80 euros has to be paid for one square meter.

In 2016 it was 9 euros - an increase of 42 percent.

This number does not come as a surprise to many, as Berlin has meanwhile become the scene of many disputes about rent.

At the same time, tenants must fear that the prices for their apartments and houses in Berlin will continue to rise after the rent cap comes out in April.

According to immowelt, there have already been catch-up effects that will continue over the next few months.

The already expensive cities will become even more expensive.

In Munich, for example, the average rental price rose from 15.50 to 19.20 euros over the observation period.

Frankfurt with an increase of 16 percent and Stuttgart with 27 percent are also becoming more and more expensive.

The analysis by immowelt shows, however, that prices in these cities seem to be moving towards a plateau.

Last year, rents there rose by just under two to three percent.

Rent: The East remains cheap

The largest increases, with the exception of Berlin, are recorded in smaller cities.

Offenbach (+30 percent) or Heilbronn (+38 percent) are slowly catching up with the big cities.

In cities like Kaiserslautern (+28 percent) or Hildesheim (+33 percent) the price increases are high, but the price level with rents of eight euros per square meter remains low.

With the exception of Leipzig (+22 percent), rent increases in eastern Germany remain at a comparatively low level. The price increase in cities like Dresden (+13 percent), Halle (+9 percent) or Rostock (+3 percent) is mainly due to their popularity as university cities. Here, the overall demand for living space is increasing, which makes rents more expensive.

Source: merkur

All news articles on 2021-08-06

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