Records in rental prices - new tree rents are increasing more than inventory rents

Records in rental prices - new tree rents are increasing more than inventory rents

living space in Germany - records for rental prices and demand

The demand for living space in Germany reaches a new high, which shows the current data of the Immoscout24 living barometer for the second quarter of 2024. While the metropolises were increasingly in focus, interest in living space in other cities and even in rural areas is now intensifying. The increasing demand has led to a significant increase in rental prices in the new building, while the inventory rents take a breather.

Compared to the previous quarter, rental prices for new apartments in Germany have increased by impressive 2.7 percent. In the year, growth is even 8.7 percent. An average two-room apartment with 70 square meters in the new building is now offered for 856 euros in the month. The offer rents for existing apartments, on the other hand, have not changed compared to the previous quarter and are still an average of 599 euros. The increase in the year is 4.2 percent.

Gesa Crockford, Managing Director of Immoscout24, comments on this development: “The demand pressure at the rental market reaches a new high and illustrates the tense situation. While the inventory rents take a breather, rents in the new building are increasing again. connected business locations. ”

The increasing demand for living space can be observed in all regions of Germany. It is particularly strong in the surrounding area of ​​the top 8 metropolises (+17 percent), in other cities (+19 percent) and in rural areas (+13 percent).

In the largest cities in Germany, the offer rents in the new building increase more than the existing rents. With 4.4 percent, Düsseldorf has the strongest growth, followed by Cologne and Leipzig with 4.2 percent each. Munich, on the other hand, remains at a high level and exceeded the 25-euro brand per square meter of new tree areas. Berlin has a lower price development of 0.8 percent compared to the other metropolises, but has the second highest new tree rental in Germany with a square meter price of 19.52 euros.

Inventory rents in the eight largest cities in Germany also rose by an average of 1.8 percent in the second quarter. With an increase of 3 percent, Cologne has the strongest price development, followed by Munich with 2.8 percent. In Berlin, the rent for an existing apartment has increased by 7.2 percent within a year and overtakes Hamburg for the first time.

The data of the Immoscout24 living barometer clearly show that living space in Germany is increasingly in demand and that rental prices are increasing. Although the development is particularly noticeable in the metropolises, interest is also intensified in other cities and even in rural areas. The increasing demand for living space is a challenge for the housing market and requires appropriate measures to ensure affordable living space for all people.