According to the Immowelt portal, rents in the capital have fallen slightly since April. Nevertheless, asking rents have almost doubled in the past 15 years.
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Munich It could have been worse. Rents are “only” increasing in ten of the 14 largest cities in Germany. This is shown by the ninth edition of the rental compass of the Immowelt portal, which is available to the Handelsblatt. The rental compass analyzes the asking rents of apartments in all cities with more than 500,000 inhabitants.
For Immowelt Managing Director Felix Kusch, the fact that rents are no longer rising everywhere is no indication for those looking for an apartment that this trend cannot be reversed. Overall, Kusch sees little hope that rents will stagnate or even fall to any significant extent. “Due to higher interest rates and persistently high construction costs, new construction has collapsed, and that will also cause rents to rise in the years to come,” explains Kusch.
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