Rents in Lower Saxony and Bremen are at a comparatively moderate level.
If tenants have to pay 8.55 euros per square meter for new contracts with an average residential value in existing buildings, in Lower Saxony it is 7.85 euros and in Bremen and Bremerhaven an average of 7.90 euros basic rent per square meter.
Hanover - This comes from the housing price index published on Wednesday by the Real Estate Association Germany (IVD) based on data from 400 cities from the first half of the year.
Nationwide, rents in Lower Saxony rose by 3.1 percent in the first half of the year and thus remained below the current inflation rate.
In Bremen, the increase was accordingly 3.9 percent.
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The demand for condominiums and houses is high in both federal states. According to the information, a condominium of medium quality in Bremen costs an average of 2500 euros per square meter. In Lower Saxony, the most expensive locations in this segment are Oldenburg and Göttingen with average prices of 2250 euros each. For Hanover, the IVD stated 2145 euros per square meter.
For comparison: Munich is by far the most expensive at 6800 euros per square meter.
There are also considerable differences within the cities themselves, depending on the district and location.
With a view to single-family houses, a buyer in Bremen has to put an average of 350,000 euros on the table with an average residential value in the existing building.
The city of Hanover is the most expensive in Lower Saxony.
There the purchase price is around 363,000 euros.
The national average is 450,000 euros.
dpa