Residential houses in Hamburg’s Hafencity
picture alliance / Rupert Oberhäuser
Analyzes by the real estate portal “Immowelt” show that rents in Germany have risen significantly in many places within a year.
The asking rents in the first half of this year were compared with those in the first half of 2020.
The result: the cities in which rents were already high saw lower price increases. Urban and rural districts in the bacon belts of the metropolises and in rural regions, however, often grew strongly.
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Rents in Germany have risen significantly in many places. This is shown by current analyzes by the real estate portal “Immowelt” *. The portal compared the rental prices in the first half of this year with those from the first half of 2020.
Both urban and rural districts were analyzed. The offers advertised on the platform served as the basis. According to “Immowelt”, only offers that were also increasingly in demand were taken into account. The prices are medians of the apartments on offer, between 40 and 120 square meters. The median is the value in the middle of all offer prices. The stated rental prices are net rents cold for new rentals.
The analyzes focus on the north, east, south and west of the country. Below you can read the central results for the respective region.
North: Strong climbs near the Baltic Sea
The analysis shows that asking rents in the first half of 2021 increased in 53 out of 60 urban and rural districts compared to the same period in the previous year. Rents rose the most in the Plön district not far from the Baltic Sea. Here rents rose by 16 percent, from € 7.50 per square meter to € 8.70 – these are median values for rental prices. In the nearby district of Ostholstein, too, rents rose by nine percent. The proximity to the Baltic Sea seems to be popular, and prices rose accordingly.
The most expensive place to live in the north is still Hamburg. Here the media price in the first half of this year was 12.50 euros per square meter. However, starting from an already high level, the price increase of three percent was comparatively low. The situation is similar in the other major cities in the north. For example, prices per square meter in Hanover (EUR 8.60) and Bremen (EUR 8.40) rose by two percent each, while rents in Osnabrück rose by four percent.
East: Boom in the Berlin bacon belt
When looking at Berlin, there is a strong increase in the bacon belt, i.e. in the districts near the capital. According to “Immowelt”, this could be related to a change in demand due to the Corona crisis, according to which more and more people are pulling out of the cities thanks to the possibility of working from home. In a joint analysis with the Ifo Institute, “Immowelt” found out in July that 13 percent of city dwellers wanted to move out of the city within 12 months.
According to the analysis, the greatest increase in the east was in the Oder-Spree district, southeast of Berlin. Here the rental price per square meter rose by 17 percent: from 7.70 euros in the first half of 2020 to nine euros in this half year. In the Barnim district, northeast of Berlin, prices rose by 13 percent. Prices also rose in the districts of Oberhavel (plus nine percent), Potsdam-Mittelmark (plus six percent) and Dahme-Spreewald (plus five percent). In the capital itself, rents rose by five percent.
The prices in the Thuringian cities of Weimar and Jena also rose comparatively strongly. In Weimar, the median rent rose by eight percent to EUR 8.10 per square meter and in Jena by five percent to EUR 9.70. In the major Saxon cities of Dresden and Leipzig, prices rose by three percent each.
In the large cities of Saxony-Anhalt and Mecklenburg-Western Pomerania, however, prices barely rose. The analysis also shows that rents are not rising everywhere. In a third of East German urban and rural districts, they are stagnating or even falling. According to “Immowelt”, many of these regions had high vacancies and a declining population.
South: Top values in the Allgäu and on the edge of the Alps
In 127 of the 138 urban and rural districts examined in Bavaria and Baden-Württemberg, rents rose in the first half of the year compared to the same period in the previous year. But while prices rose moderately in the large and already expensive cities, smaller cities and the region on the edge of the Alps recorded double-digit increases.
The median price on Munich’s expensive pavement rose by two percent to a whopping 19.20 euros per square meter. In Stuttgart rents rose by three percent to 13.80 euros per square meter. In Nuremberg, too, prices rose by three percent, to now 10.30 euros per square meter.
On the other hand, asking rents rose the most in the Allgäu: in the Memmingen district by 16 percent to eleven euros per square meter. Prices also rose sharply in the cities of Kaufbeuren (plus 13 percent), Heidelberg (plus 13 percent), Pforzheim (plus ten percent) and Kempten (plus nine percent). At the edge of the Alps, the Oberallgäu district increased by 15 percent, to a median of 9.90 euros per square meter. The Garmisch-Partenkirchen district rose by 13 percent, the Bad Tölz-Wolfratshausen district by ten percent.
West: Rural regions show strong increases
In the west of the republic, prices rose particularly sharply in more rural regions. In the first half of this year, prices rose the most in the districts of Mayen-Koblenz and Hersfeld-Rotenburg, at 15 percent. The districts of Bernkastel-Wittlich and Kaiserslautern also recorded a solid increase of twelve percent.
It is still the most expensive in Frankfurt am Main, but no price increase has been observed here. As in the same period last year, the median is 14.50 euros per square meter. Nevertheless, according to “Immowelt”, there is great demand for apartments in the Rhine-Main area. For example, Darmstadt (now EUR 11.90 per square meter) and Offenbach (EUR 11.40) recorded comparatively high increases of six percent each.
The picture in North Rhine-Westphalia is ambivalent: while it is comparatively expensive in the Rhineland, it is rather cheap in the Ruhr area. In Cologne, the rental price rose by eight percent to twelve euros per square meter. In nearby Düsseldorf, the increase was significantly lower at one percent, here the median price per square meter is eleven euros. It is now just as expensive in the student city of Münster, where prices rose by ten percent.
*Disclaimer: Like Business Insider GmbH, the Immowelt platform belongs to Axel Springer SE
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