By a good half, real estate prices have risen in this country. And since 2015, the increase has accelerated once more, as figures published by the Federal Statistical Office (Destatis) on Wednesday in Berlin. Since then, prices have risen annually between 4.7 and 7.5 percent. Especially affected are big cities like Berlin, Munich or Hamburg. Between 2016 and 2018 alone, condominium prices in the seven largest German cities rose by around a quarter.
The numbers of official statisticians impressively prove the dramatic situation on the housing market. Persistently dynamic growth, increased demand for real estate as a result of interest rate developments, and significantly lower completion figures in new construction would have led to a "shortage of affordable housing" in many places and triggered enormous price jumps, according to Destatis President Georg Thiel. In some cities, meanwhile, "overvaluations" of houses and condominiums of up to 30 percent can be assumed. The needs of 342,000 new housing units per annum determined by the Grand Coalition in the period up to 2021 were matched by only 287,000 completions in 2018. Among other things, capacity bottlenecks have led to a huge building construction, which reached a new high in 2018, with just under 700,000 approved but unfinished apartments.
In no other city is the housing and renting policy so much in the center of attention as in Berlin. Destatis therefore took a closer look at the situation in the capital: the number of inhabitants has increased by 175,000 over the last four years. The majority of new arrivals come from abroad, and the age group between 20 and 40 is particularly strong. However, the new housing construction, which had reached a historic low in 2006 in times of stagnating population development with 3,100 residential units, was unable to keep pace in any way. In 2018, 16,700 apartments were completed, much less than planned. The housing supply rate developed accordingly. In 2011, statistically 1000 Berlin households with an average household size of 1.7 persons were faced with 997 apartments. In 2015 there were still 952, currently the rate is 962.
That this undersupply drives up rents is obvious. The average new rents in the years 2005 to 2014 at 7.26 euros per square meter (net cold), it was from 2015 to 2018 already 9.16 euros and now it is more than ten euros. Within the city, however, there are significant differences: The new rents are from 2015 in Berlin-Mitte 3.52 euros higher than the average of the years before, in Marzahn-Hellersdorf, however, only one euro.
This is accompanied by the process, often referred to as "gene-trification", of crowding out low-income and normal earners from inner-city neighborhoods. In a differentiated according to old and new tenants income survey, the Office of Statistics Berlin-Brandenburg comes to the conclusion that new tenants in Berlin's districts Mitte and Friedrichshain-Kreuzberg have an average of 450 euros more a month, as old tenants. The city-wide average is only 150 euros. But in Marzahn-Hellersdorf new tenants even have 325 euros less. The fact that the population structure in the individual city districts changes significantly due to the rental price trend, the statisticians summarize in their report.
Conversion of rented apartments into condominiums and the increasing proportion of condominiums in new construction projects also play an important role here. Although Berlin is still a "tenant city" with 82.6 percent of all households, the rate of self-employed homeowners has almost doubled within 15 years to 17.4 percent. In the new housing construction, the share of condominiums last year even 25.5 percent.
. (TagsToTranslate) Berlin (t) Rent (t) Housing