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Rising rents are putting German cities under pressure: Frankfurt and Stuttgart are getting closer in terms of price, a new rental price study shows.
Frankfurt – The rental market in major German cities is still under pressure – the supply of new apartments is stagnating: according to the online real estate portal’s rental price compass real estate world rents rose in ten of the 14 largest German cities in the second quarter compared to the previous quarter.
A new rental price study shows that rising rents are putting German cities under pressure – Frankfurt and Stuttgart are getting closer in terms of price. © Frank Rumpenhorst/dpa
Frankfurt rents are approaching Stuttgart rents
In Frankfurt and Stuttgart, which are well behind Munich on the price scale but ahead of Berlin, rents have risen steadily in recent quarters. In the most recent quarter, however, the development in the two cities was different, so that they had converged in terms of price. After an increase of 0.4 percent in Frankfurt and a minus of 0.9 percent in Stuttgart, a square meter now costs an average of 13 euros in both cities.
While rents have continued to rise in cities like Munich and Hamburg, prices are falling in other cities. Rents in Berlin have recently fallen by 1.3 percent to an average of EUR 11.70 per square meter. Rents have also fallen slightly in Düsseldorf, while they have risen in cities such as Nuremberg, Bremen and Hanover.
Start of survey for the next Frankfurt rent index – around 10,000 households affected.
Rents in Frankfurt have recently risen steadily
According to Mietpreis-Kompass, the differences in rental prices show that there are local differences despite a general upward trend in urban rental markets. Despite the different developments, the rental market situation in many German cities remains tense. In cities like Frankfurt in particular, rents have risen steadily in recent years. (cas)
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