Sunday 31st January 2021
More competition in Berlin
Rent cover makes it difficult to find an apartment
If you are looking for an apartment in the capital, you will find yourself on a rough pavement. Nowhere is the competition as great as in Berlin. There is less rush in East Germany.
In no other city in Germany are rental apartments, according to a study, as competitive as in Berlin. On the online platform Immoscout24, landlords of an existing apartment in the federal capital received an average of 137 contact requests for an advertisement, as reported by "Spiegel", citing an internal data analysis by the company for 2020.
At some distance, Cologne followed with 63 and Leverkusen with 57 requests in second and third place. According to the report, 53 and 40 people were interested in an apartment in the metropolises of Hamburg and Munich.
"Spiegel" reports that Immoscout24 traces the considerable distance between Berlin and other large cities back to the rent cap in the federal capital. This has apparently intensified the competitive situation in the federal capital because of a related decline in supply. When it comes to renting new apartments, Berlin also leads with an average of 29 contact inquiries, followed by Karlsruhe with 26 and Cologne with 25 inquiries.
There is less rush in East Germany. In Zwickau and Gera, there was on average only one person interested in an existing and a new apartment. For their data analysis, the experts at Immoscout24 have put all contact requests on the platform from 2020 in relation to the apartments offered in the respective cities, according to "Spiegel".
Despite the Corona crisis, there has been no turnaround on the rental market. Instead, rents in major German cities rose by up to 12 percent last year. The Stuttgart area, with Pforzheim and Reutlingen, was the front runner in the increase, according to the result of an analysis of the asking rents for apartments with a size of 40 to 120 square meters in 80 major German cities by the real estate portal Immowelt AG. But rent also continued to rise in the megacities.
Overall, in 2020, rents rose in 67 of the 80 cities examined compared to the previous year. At the front runner Reutlingen, rents rose by 12 percent last year. In the most expensive German city of Munich, asking rents rose year-on-year by 2 percent to 18.60 euros per square meter.
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