▷ ImmoScout24 WohnBarometer: asking rents developed moderately in the third quarter …


28.10.2021 – 12:00

ImmoScout24

Berlin (ots)

ImmoScout24 presents its quarterly data report on the development of the rental housing market. The ImmoScout24 WohnBarometer is based on an evaluation of 8.5 million real estate advertisements over the last five years and, in addition to the development of asking rents, includes the relationship between supply and demand and a price forecast.

  • The development of asking rents in new lettings is currently well below the development of purchase prices.
  • Existing and new building rents rose only slightly on the overall German average compared to the previous quarter.
  • Asking prices for existing rental apartments rose the most in Leipzig, Erfurt and Hamburg.
  • In Berlin, asking rents for existing apartments rose less strongly than in the previous quarter. Demand fell by a third, but is still at a very high level.
  • Despite the summer months, demand increased in Munich and Cologne.
  • In Rostock and Dresden, the asking prices for existing apartments fell in a quarterly comparison.
  • In the new building, asking rents rose the most in Leipzig, Erfurt and Munich.

For the third quarter of 2021, the ImmoScout24 WohnBarometer shows an increase in Offer prices for existing rental apartments in the amount of 1.4 percent. The price trend thus picked up again slightly, but is well below the development of purchase prices, which rose by 4.2 percent on a quarterly average. In the second quarter, the increase in rents in existing buildings was still 0.8 percent. The average asking price for existing rental apartments is currently 7.26 euros per square meter. A two-room apartment with 60 square meters costs around 435.38 euros net cold.

With a price increase of 2.4 percent, the asking prices for existing apartments in Leipzig grew the most in a quarterly comparison, followed by Erfurt with 2.1 percent, Hamburg with 2.3 percent and Cologne with 1.9 percent. In Munich, Berlin and Potsdam, the price trend has leveled off by 1.5 percent and thus well below the current inflation rate. In the eastern German centers of Dresden and Rostock, the ImmoScout24 WohnBarometer recorded a decline in asking prices for existing rental apartments. While Dresden only posted a slight minus of 0.3 percent in the third quarter, asking rents in Rostock fell by 1.7 percent compared to the second quarter of 2021.

Asking prices for new apartments are increasing more strongly than in the previous quarter

New build apartments for rent recorded an increase of 2.2 percent in Germany as a whole in the third quarter of 2021. They are offered for new leases on ImmoScout24 for an average of 9.82 euros per square meter. The development thus increased again slightly compared to the previous quarter. In the second quarter, the price development for new apartments was still 1.5 percent. In the case of new-build apartments for rent, too, the price development is well below the purchase price development, which increased by 4.7 percent in a quarterly comparison.

Leipzig leads the metropolitan ranking for the rental price development in new buildings with a plus of 3.3 percent, followed by Erfurt and Munich with 3.0 percent each. While the price development for new rental apartments in Hamburg and Frankfurt am Main was below one percent in the third quarter of 2021, it was slightly down in Rostock by minus 0.5 percent.

“The rental price trend has calmed down somewhat in a large part of the metropolises. It is currently within the framework of the inflation rate and in some cases even below it. However, Berlin and Cologne in particular are still far from a balanced rental housing market. In Berlin, an average of 99 inquiries per Week on an offered rental apartment, in Cologne there are 46 “, comments Dr. Thomas Schroeter, managing director of ImmoScout24.

Demand for existing rental apartments remains at a high level

While the demand for Rental apartments from the inventory in the major German cities remained almost at the same level as in the previous quarter, it rose slightly in Cologne and Munich despite the summer season. In Berlin, the number of average contact inquiries per advertisement per week fell significantly from 154 in the second quarter to currently 99. Cologne ranks second nationwide with 46 contact inquiries per week for an advertised apartment.

In Munich the demand for New build rental apartments im increased from 7 to 12 contact requests per week compared to the previous quarter. In Cologne, too, there was even more demand for newly built rental apartments than in the second quarter. In the cathedral city, an average of 18 contact inquiries were received for a new-build advertisement in the third quarter, after 15 in the second.

For the next twelve months, the WohnBarometer predicts a moderate development in asking rents of 3.2 percent for existing apartments when viewed across Germany. In new buildings, ImmoScout24 expects an increase of 3.9 percent by the third quarter of 2022. For the price forecast, current population balances as well as the available and planned residential building stock are included in the calculation.

At the city level, ImmoScout24 expects the strongest price development for existing rental apartments and new buildings in Berlin and Cologne due to the high demand: Berlin with 6.0 percent for both new and existing apartments, in Cologne with 4.1 percent for existing rental apartments and 3, 7 percent for newly built rental apartments. The weakest price development for new and existing rental apartments is expected in Frankfurt am Main and Hamburg in the next twelve months. The price development forecasts there are well below three percent and thus below the Germany-wide average and well below the current inflation rate.

Please contact us if you would like to receive the city data in tabular form.

The ImmoScout24 WohnBarometer – methodology

The ImmoScout24 WohnBarometer is the market report on the development of the real estate market. The publisher is ImmoScout24, Germany’s leading online platform for residential real estate. The ImmoScout24 WohnBarometer shows the price development in real asking prices, supplemented by an indicator on the relationship between supply and demand and a price forecast for the next 12 months. The database includes over 8.5 million advertisements on ImmoScout24 over the past five years. All advertisements for condominiums, single-family homes and rental apartments are analyzed. The values ​​are determined for reference objects for the property type under consideration by an algorithm from the field of machine learning. A three-room apartment with 80 square meters of living space is used as the basis for apartments for sale. The single-family house considered has 140 square meters of living space and a plot of 600 square meters. The reference property for rental apartments is a two-room existing apartment with 70 square meters. The new construction category contains all offers with a construction age of a maximum of two years at the respective time of determination. The demand in relation to the offer is calculated on the basis of the contact requests per advertisement of the respective property type per week. It is a standardized value in order to compensate for different downtimes of the advertisements on the portal. The algorithm used also forms the basis for the price forecast. For this purpose, current population balances as well as the available and planned residential building stock are included in the analysis.

About ImmoScout24

ImmoScout24 is the leading online platform for residential and commercial real estate in Germany. ImmoScout24 has been revolutionizing the real estate market for over 20 years and supports 13.8 million users every month: inside on the way to a new home or the right commercial space. That is why 99 percent of the target group know ImmoScout24. With its digital solutions, the online marketplace provides orientation and successfully brings owners, brokers and seekers together. ImmoScout24 is working towards the goal of processing real estate transactions digitally and thereby making complex decisions easier for its users. ImmoScout24 has also been active on the Austrian residential and commercial market since 2012 and records around 3.5 million visits a month.

Press contact:

Lennart Dannenberg
Senior PR Manager & Press Officer
Phone: +49 30 24301 0023
Email: [email protected]
www.immoscout24.de

Original content from: ImmoScout24, transmitted by news aktuell


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