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Rents are stabilizing in Munich and Frankfurt, Berlin with a plus of 2 percent

Nuremberg (ots) – These are the results of the 1st edition of the immowelt rental compass for the 2nd quarter of 2021:

– In 8 of 14 major cities examined, rents are stagnating or falling compared with the previous quarter
– After the rent cap: In Berlin, asking rents rose by 2 percent
– Breather in Munich, Frankfurt and Stuttgart: rents are stagnating in the most expensive German cities
– Increases in inexpensive large cities: Essen and Bremen with an increase of 2 percent each

After some huge rent increases in recent years, the price rally seems to pause first, as the current world Immo Mietkompass (https://links.email.immowelt.de/els/v2/X6jxhrvvP_f3/S3o4OVNvMk92ZDNJZFB4UXNvWnNZUUtWOG1KaDVYZnVzaUg0ME1JcmNtNE5ZejVDTmJOQ1FydXRaNm1JQVl3cHRmY25qWWRsMDNHV3VoQzhDV2hBYTB0SERPclkyZ25Jb1ZMY2hOa0Vnblk9S0/MktTa1VDbks3bDlFd29qcnZnZlVreXdtMzZsQ2h3MXpXaGFydGQrTTJDNytBLzhETkhQNDFKL2FMcWVtUDVISklEckVpS1ZPcU1FPQS2) shows in many cities. For this purpose, square meter prices for existing apartments (80 square meters, 3 rooms, 2nd floor) offered on immowelt.de in the 2nd quarter of 2021 were compared with the previous quarter. Because while asking rents continue to rise in 6 of 14 major cities examined, 8 cities have stagnating or slightly falling rents. Especially in expensive cities like Munich, Frankfurt or Stuttgart, prices have not risen any further for the time being.

After the rent cap: Plus 2 percent in Berlin

In April the Federal Constitutional Court declared the Berlin rent cap null and void. Since the announcement of the law in June 2019, the asking rents of regulated existing apartments have fallen until the ruling. This development now seems to be over. In the 2nd quarter of 2021 the price curve is pointing up again. The asking rents in Berlin rise by 2 percent to 9.26 euros per square meter. In the 1st quarter the value was 9.06 euros. Since many landlords have already specified so-called shadow rents in the exposés while the rent cap was still valid, the offer prices were gradually adjusted upwards again.

Just as in Berlin Immo world Mietkompass (https://links.email.immowelt.de/els/v2/qj2vS2dd4-SV/S3o4OVNvMk92ZDNJZFB4UXNvWnNZUUtWOG1KaDVYZnVzaUg0ME1JcmNtNE5ZejVDTmJOQ1FydXRaNm1JQVl3cHRmY25qWWRsMDNHV3VoQzhDV2hBYTB0SERPclkyZ25Jb1ZMY2hOa0Vnblk9S0/MktTa1VDbks3bDlFd29qcnZnZlVreXdtMzZsQ2h3MXpXaGFydGQrTTJDNytBLzhETkhQNDFKL2FMcWVtUDVISklEckVpS1ZPcU1FPQS2) recorded an increase of 2 percent the previous quarter, even with asking rents in Cologne. However, the price level in the Rhine metropolis is higher. Tenants currently have to reckon with 10.51 euros per square meter. In Hamburg, too, prices continue to rise slightly: +1 percent in the past 3 months. The square meter costs 10.91 euros.

Breather in Munich, Frankfurt and Stuttgart

In the most expensive German cities, however, tenants can take a deep breath. In Munich rents are stagnating at a very high level. Existing apartments there cost 16.54 euros per square meter, which is almost 5 euros more than in the second most expensive city, Frankfurt am Main. In the banking metropolis, rents are even falling slightly. While the square meter cost 11.95 euros in the first quarter, it is currently 11.66 euros – a decrease of 2 percent and, along with Hanover (also -2 percent), the sharpest decline of all cities. A similar picture emerges in Stuttgart and Düsseldorf. In both cities, asking rents have fallen slightly by 1 percent. In general, the most expensive cities seem to have reached a price limit. Many households are already heavily burdened by the housing costs: An immowelt analysis shows that a household in Munich would have to earn almost 6,000 euros a month in order to achieve a healthy housing cost ratio of 30 percent. In Frankfurt 4,500 euros are required for this, in Stuttgart 4,200 euros.

Increases in inexpensive big cities

While rents are stagnating in many expensive cities, increases can still be observed in the inexpensive large cities. In Essen and Bremen (+2 percent each) the price trend is pointing upwards. With asking rents of EUR 7.61 per square meter in Essen and EUR 8.08 in Bremen, the price level is still moderate.

Leipzig, the cheapest of all the cities examined, posted a plus of 1 percent. The square meter currently costs 6.51 euros, around 10 euros less than in Munich. In neighboring Dresden, where rents are stagnating, tenants currently pay 6.78 euros. The low price level in the eastern German cities is related to the comparatively high vacancy rate, but both cities continue to enjoy great popularity, especially among young adults. As a result, rents could rise more sharply in the next few years.

The immowelt price compass is now available once a quarter

From now on the world Immo Mietkompass (https://links.email.immowelt.de/els/v2/EZbXHE663WJe/S3o4OVNvMk92ZDNJZFB4UXNvWnNZUUtWOG1KaDVYZnVzaUg0ME1JcmNtNE5ZejVDTmJOQ1FydXRaNm1JQVl3cHRmY25qWWRsMDNHV3VoQzhDV2hBYTB0SERPclkyZ25Jb1ZMY2hOa0Vnblk9S0/MktTa1VDbks3bDlFd29qcnZnZlVreXdtMzZsQ2h3MXpXaGFydGQrTTJDNytBLzhETkhQNDFKL2FMcWVtUDVISklEckVpS1ZPcU1FPQS2) is published once a quarter. The quarterly report shows the development of rental prices for apartments in the 14 major German cities with more than 500,000 inhabitants. Tenants, landlords as well as investors and real estate professionals receive valuable insights into what is happening on site and the other major real estate markets in Germany with the immowelt rental compass. In future, the report will appear at the end of the following month and will also show other aspects of the markets, such as new construction rents and long-term reviews, in random order. The first edition of the Mietkompass deals with the current rent development as well as the forecast development up to the end of the year.

The 1st edition of the immowelt rental compass is available for download here. (Https://links.email.immowelt.de/els/v2/04xgSNAAgRMR/S3o4OVNvMk92ZDNJZFB4UXNvWnNZUUtWOG1KaDVYZnVzaUg0ME1JcmNtNE5ZejVDTmJOQ1FydXRaNm1JQVl3cHRmY25qWWRsMDNHV3VoQzhDV2hBYTB0SERPclkyZ25Jb1ZMY2hOa0Vnblk9S0/MktTa1VDbks3bDlFd29qcnZnZlVreXdtMzZsQ2h3MXpXaGFydGQrTTJDNytBLzhETkhQNDFKL2FMcWVtUDVISklEckVpS1ZPcU1FPQS2)

Calculation and methodology

The analysis is based on apartments advertised on immowelt.de, which are evaluated using proven statistical methods. These are based on many years of expertise in price calculation by the French partner portal Meilleurs Agents. The resulting price updates give an insight into the dynamic situation on the residential property market in these cities. Detailed information on the methodology currently on page 6 of the current Immo world Mietkompass (https://links.email.immowelt.de/els/v2/L6j4hPEEvqcw/S3o4OVNvMk92ZDNJZFB4UXNvWnNZUUtWOG1KaDVYZnVzaUg0ME1JcmNtNE5ZejVDTmJOQ1FydXRaNm1JQVl3cHRmY25qWWRsMDNHV3VoQzhDV2hBYTB0SERPclkyZ25Jb1ZMY2hOa0Vnblk9S0/MktTa1VDbks3bDlFd29qcnZnZlVreXdtMzZsQ2h3MXpXaGFydGQrTTJDNytBLzhETkhQNDFKL2FMcWVtUDVISklEckVpS1ZPcU1FPQS2).

Press contact:

immowelt AG
Nordostpark 3-5
90411 Nürnberg

Barbara Schmid
+49 (0)911/520 25-808
[email protected]

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Original content from: Immowelt AG, transmitted by news aktuell
Original message: https://www.presseportal.de/pm/24964/4961991

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