Monday, August 15, 2016

IW study – condo for the money – Sü

In many places can afford on average larger accommodations than a few years ago to tenants. But not everywhere.

In many regions of Germany can people today larger apartments afford than six years ago. An average private household can now rent 94 square meters, fielding a quarter of its disposable income for it. The two square meters more than in 2010, a study of employer-Institut der deutschen Wirtschaft (IW) in Cologne. The IW compared to the cost of housing to the disposable income of German households. Housing costs include the possibility most expenses related to the apartment with a.

Nationwide, rents have risen less since 2010 with 10.2 percent as the disposable income of households, the average of 11.5 percent rose. However, the gaps between the individual counties has increased in recent years.

In about a quarter of all districts and cities can afford an average household less floor space than six years ago. Among the ten largest cities this applies to Berlin, Stuttgart and Dortmund. “In Berlin, the development is very distinctive, because the change takes place so quickly,” said Ralph Henger, economist with focus on finance and real estate markets at the IW. The population of the capital is in the past six years increased by almost a quarter million to 3.61 million. It is obvious that housing thereby becomes scarcer. In the largest cities, the local rents 2010-2016 to 26 percent in the case of Berlin, 14 percent in Munich and 12 percent in Hamburg rose. There may be a average household, according to the survey pay a quarter of his income only a 70 square meter apartment.

In Frankfurt and Munich, it looks similar. There, the purchasing power is indeed remained almost the same or slightly increased. Henger says: “Munich is the highest rents for many families hardly affordable.” According to a recent survey by the real estate company JLL paying tenants in the Bavarian capital now average 16.90 euros per square meter for a newly rented apartment – and rising. In Berlin, Dusseldorf, Frankfurt, Hamburg, Cologne, Leipzig, Stuttgart and Munich, taken together, the price increase was in the first half of 2016 compared to last year at six percent. The juicy rent increases are due to equally rapid growth in property prices. Some observers see this with concern and are already warning of a housing bubble.

Full coverage but the situation is not so dramatic, it is the IW. “Without the influx of refugees in the past year, the dynamics would have even declined in Germany,” says Henger. Only five percent of all investigated circles lie the average rent at the high level of more than nine euros per square meter. Most living space, an average household can in Bavaria Dingolfing-Landau or in Lüchow-Dannenberg afford (Lower Saxony), where a quarter of income for about 120 square meters is enough. At the end of the list are the four university cities Trier, Freiburg, Heidelberg and Würzburg. There, a quarter of the income allows just half the area, or about 60 square meters. Throughout Germany expects the institute with a relaxation, even in the big cities: “We expect that the dynamics decreases Construction activity is picking up..” However, it would last three to five years from planning to completion of the apartments.


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