The real estate boom in Germany has lasted since 2007 – and one end does not seem to be in sight. The German tenant confederation expects that even 2018 many tenants will have to spend significantly more money on ir apartment. “We expect furr growth of about five percent on average,” said federal director Lukas Siebenkotten. In large cities, increase could be even higher. In 2018 rental mirror, refore, rents are expected to be around ten percent higher than in previous price overview 2016.
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According to Tenants ‘ confederation, major influencing factors on real estate markets such as low interest rates and a robust economy will remain unchanged next year. In addition, Tenants ‘ confederation also expects higher costs for additional cost accounting that consumers will receive in course of New Year for 2017: “For oil and gas tenants are expected to pay around ten percent more and for district heating about two percent,” said Siebenkotten. Or incidental costs, such as water, sewage, chimney sweeps and street cleaning, are expected to rise by one percent.
Recent studies had found some relaxation in rents. The rise in rate of reinsurance contracts had been reported by Real Estate Association IVD. The rents in cities under 30,000 inhabitants were only slightly increased on average, it was said. In cities with 250,000 to 500,000 inhabitants, increase had significantly slowed down and also in metropolises – even if re were strong premiums in Berlin. The stronger new building was effective, concluded IVD.
The Good German tenant
This sis is contrary to Tenants ‘ association. Moreover, rents would now rise in existing circumstances, criticized Siebenkotten. There would still be too few new flats to be built. At same time, demand remains high and interest rate level low. This will also not change somewhat tighter monetary policy of ECB 2018. German real estate was in demand internationally, said Siebenkotten. “Foreign investors put a lot of money into German rental houses. For m re is nothing better than German tenant, who pays reliably. “
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Experts such as Stefan Mitropoulos from Landesbank Helaba do not believe in a turnaround. Throughout Germany, 400,000 new units would have to be built every year, but 2018 should only be 320,000, he estimates. “Furr rising prices and rents are result.”
The Tenants ‘ Association refore warns of social consequences. With onslaught just on big cities, flats in surrounding areas would be more expensive, low earners stayed on track. As a result, increase in rerents lasted nationwide at five percent.
According to a recent study by Market Research institute YouGov, high cost of housing is also driving young federal citizens. For example, a quarter of 18-to 24-year-old respondents said y had problems finding a suitable apartment in face of high rents.
Politics is in demand
The policy must support more affordable housing, calls for Siebenkotten, for example by favouring fast depreciation of construction costs. There is also a need for more social housing. “If he doesn’t run, we get social tensions.” 2016 had been built well 24,000 social housing, needed 80,000 to 100,000.
The countries in whose responsibility social housing 2006 had fallen received compensation for construction of federal government. But se ran out at end of 2019, without any clarity as to how it would go on, Tenants ‘ association criticized. For 2017 and 2018, federal government had tripled funds to 1.5 billion euros each.
For a long time disappear more social housing from market, as new Dazukämen, criticized Siebenkotten. In Germany re were 1.4 million social housing, in 1980s alone in West Germany were 3.5 million. He asks: “Social housing must be on agenda of coalition negotiations.”
