Life in Nuremberg can be expensive.
The current rental prices have now been published.
In some areas there was a significant price premium.
Nuremberg - In April there were protests in Nuremberg against excessively high rents.
The demands of the demonstrators: a nationwide rent ceiling and more social housing.
In the second largest city in Bavaria, rents are not yet at the level of the Munich area, but they are also rising rapidly.
This is shown by the city's current figures.
Nuremberg: "The demand for living space far exceeds the supply"
Together with a real estate agency, the city of Nuremberg recently published the new “Real Estate Market Report 2021”.
It shows that rents rose during the coronavirus pandemic.
In 2020, investors would have put a record amount of capital into the Nuremberg housing market.
However, demand exceeds supply.
"Despite intensive construction activity, the demand for living space far exceeds supply," says the published report.
“This is reflected in the investment market.” Around 493 million euros have been invested in apartment buildings, apartment portfolios and apartment blocks.
An increase of a whopping 74 percent compared to the previous year.
Nuremberg: Economic advisor recognizes "dynamic development on the housing market"
But what does the current real estate situation mean for the people in Nuremberg?
In short, as in many other places, life in the Franconian metropolis can be significantly more expensive.
Economic advisor Michael Fraas describes Nuremberg in the paper as an "attractive business location" with a "high quality of life".
This ensures a “dynamic development in the residential property market”.
The city of Nuremberg divides real estate into three categories: new buildings (first-time occupancy or refurbishment in the past ten years), existing buildings (from eleven years) and old buildings (older than 50 years).
In addition, the property location is subdivided into simple, good and very good location, but without going into more detail about the location.
It shows: The most expensive are new building rents in a very good location, the cheapest old building in a simple location (see table).
Nuremberg: Average prices in euros per square meter
Apartment type | easy location | good location | very good location |
New building | 12.40 | 12.15 | 14.80 |
Existing building | 10.60 | 10.90 | 10.70 |
Old building | 9.50 | 9.70 | 10.60 |
Compared to the report submitted two years ago, old-style apartments in simple locations have become a bit cheaper.
In 2018 you paid between 7.60 and 11.10 euros, now it's 7.00 to 11 euros.
With the apartments in better locations, however, the people of Nuremberg need luck.
Because the maximum price has risen significantly, by 90 cents for old apartments in very good locations.
For this, however, the entry price has changed downwards.
Compared to 2018 by 1.10 for apartments in very good locations.
The fact that rents are becoming more expensive in Nuremberg is particularly evident in the case of existing and new buildings.
In a simple location you sometimes pay 60 cents more per square meter than in 2018. The simple location was available per square meter for a price range of 8.50 to 11.10 euros (existing building) or 9.00 to 11.90 euros (new building) , now it is 8.90 to 11.70 euros or 11.00 to 13.90 euros.
A possible plus of 2 euros for new apartments in a simple location.
There are further small adjustments in the other categories; the highest price development is for new apartments in very good locations.
In 2018 it was between 11.30 euros and 14 euros per square meter;
2020 already between 13.50 euros and 17 euros per square meter.
Nuremberg: due to "housing shortage" - many citizens "overloaded"
In summary, it can be said that you can live cheaper in Nuremberg than two years ago, but at the same time you could also dig much deeper into your wallet. The residential area in the city of 530,000 inhabitants is not really relaxed, because: The demand for apartments exceeds the supply.
Particularly spicy: Almost half of Nuremberg's residents spend more than 30 percent of their annual income on rent and are therefore "overburdened with their housing costs".
11.6 percent even spend half of their income.
This was the result of a study by the Hans Böckler Foundation, which is close to the Greens.
The head of the German Tenants' Association in Nuremberg, Gunther Geiler, is therefore calling for a rent freeze and making politicians responsible.
"It no longer only affects the poor who could previously be ignored because their voice is quieter," Geiler told
Infranken.de
.
In the meantime, one has to speak of a “housing shortage” in Nuremberg.
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