Rental rates in Germany have soared since the beginning of 2023.

Apartment rental prices increased by 7% in the first months of this year. This is reported by Germany’s leading real estate portal Immosscout24.

According to the platform, from January to March, the cost of renting secondary housing increased by 7.4‑7.7%. If we compare rental rates with the same period last year, they increased to 12% for secondary housing and up to 20% for primary, depending on the region.

“Berlin and Stuttgart have recorded sharp rent increases in new rental apartments of about 8% and 9% in the first quarter,” said Geza Crockford, managing director of Immosscout24.

In Berlin, a square meter in secondary housing will cost the tenant € 12.56 per month, and in Munich – € 18.44 per month. The average cost of a “square” in the country per month reaches 8.01 €, and in new buildings 11.01 €.

Currently, there is an increased demand for apartment rentals in Germany, which significantly exceeds the supply. This demand cannot be met due to high prices for building materials.
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