2024-08-19 01:20:53
The difference between existing and new contract rents is getting bigger and bigger in urban areas. As a result, tenants are avoiding moving. This is making the rental market even tighter.
According to a study, the rental housing markets in German metropolitan areas are caught in a negative spiral and are functioning increasingly poorly. Due to the ever-increasing differences between existing rents and the rents for new offers, tenants are avoiding moving because they would have to pay significantly more in a new apartment, according to a study by the major real estate agency JLL.
As a result, the already scarce supply is reduced because even fewer apartments are coming onto the market. This leads to new contract rents rising again, which further worsens the situation for those looking for housing. The actual demand for housing could thus be exaggerated.
JLL has found particularly large differences between new contract and existing rents in Munich and Berlin. Moving house is particularly expensive there because the rent in the new contract is on average 8 euros or 7.50 euros per square meter higher than in the old apartment. Frankfurt follows with a price difference of 4.80 euros per square meter. In Dresden and Duisburg, however, the difference is only around 1.50 euros, and moving seems easier there.
In addition to a larger supply through new construction, fluctuation must also be stimulated, says JLL manager Roman Heidrich. Exchange options could contribute to this. Regulation should also be considered in order to bring existing rents closer to market levels more quickly.