real estate prices in Germany have also let the Corona-crisis does not stop. In the third quarter of this year, apartments and One – and two-family houses were on average 7.8 per cent more expensive than a year earlier. The Federal Statistical office reported on Monday, confirming its initial estimate in November.
The price increase was the strongest since the fourth quarter of 2016, with an average of 8.4 percent. Compared to the second quarter of the current year, the prices for houses and apartments climbed in Germany, an average of 2.9 percent, 0.3 points more than initially estimated.
The demand for housing is fueled by low mortgage interest rates especially in the urban areas. The statisticians have observed but also elsewhere large price increases. Thus, prices for apartments rose in the middle of large cities with a Plus of 10.2 per cent at the most. Houses in the more densely populated rural counties were 9.7 percent more expensive than a year ago and the price put this development in the seven largest cities (plus 8.9 percent) in the shade.
Rents are rising more slowly
further, the Rent to rise. Although the increase in the Hamburg-based Gewos Institute for urban flattens, Regional and housing research in an average of 3.4 Prozentim the third quarter compared to the prior-year period, in the longer term, from. In the seven largest cities, including Berlin, Hamburg and Munich amounted to 4.5 per cent.
The pressure on Rents will move to the surrounding countryside. Gewos-managing Director Carolin Wandzik considers it likely that the Rents in the surrounding area of 2021 will increase more than in the cities themselves. For investors, the surroundings of the metropolises will more and more attractive. The Institute of German economy (IW) confirms this. “The Corona-crisis reinforced the Trend towards migration to the surrounding areas of big cities,” said real estate expert Michael Voigtländer.
Thus, the Rent could be belts in the Bacon rise more than in the cities, where already a lot of room for increases, is irritating. Perhaps there will be a stronger division on the rental market. The surrounding area to pull even more families, the place needed, and in the cities was dominated by smaller households, Singles and young people. The cities had grown also particularly by the influx of foreign professionals. But the crisis came with the Corona-rare, says Voigtländer. Smaller cities with a good range of day-care centres, schools and shopping as well as good transport links to the metropolis were asked.
