For 2023, real estate experts expect the vacancy rate on the housing market to fall again.
(Photo: IMAGO/Jochen Eckel)
Berlin, Dusseldorf The housing problem in Germany is getting worse. High levels of immigration, paired with declining building completions, mean the end of the fragile balance between supply and demand of the past few years.
“On the market for residential real estate, the war-related immigration of an estimated 1.1 million people from Ukraine has led to considerable additional demand of around 200,000 apartments,” says the annual spring report of the so-called “Council of Real Estate Wise Men”, which is run by the Central Real Estate Committee in Berlin (ZIA) was published this Tuesday.
The experts, including the economist Lars Feld, who has been the personal representative of Federal Finance Minister Christian Lindner (FDP) since 2022, state: “The demand for housing rose more strongly than the supply of housing, and the vacancy rate is likely to have fallen again.” For 2023, the real estate experts expect another Decrease in the vacancy rate, which is currently stated nationwide at 600,000 apartments or 2.8 percent of the housing market.
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