Dresden rents too high: Almost every fourth apartment in the old town is empty

The vacancy rate in Dresden’s old town is increasing.

Dresden – In Dresden the cranes are turning in unison. Currently more apartments are being built than needed (TAG24 reported). Consequence: The vacancy rate is increasing. Almost every fourth apartment in the city is now empty. The reason for this are the huge and expensive new construction projects.

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The facts: Compared to 2018, the number of vacant apartments across the city increased by 0.14 points (590 apartments) to 6.6 percent. The district with the highest vacancy rate is the inner old town with a whopping 21.8 percent.

Background: In recent years, large companies such as the CG Group (Postplatz) or Revitalis (Wiener Loch) have discovered the city for themselves. In addition to renting out the property, it is sold to funds. The rental prices called up are then sometimes between 12 and 17 euros per square meter.

“That is part of the problem. Before renting out, cash was made. The market no longer gives the rents due. The fact that hundreds of apartments are vacant in the old town while families are looking for affordable apartments at the same time is a scandal and a failure of the Market “, complains city councilor Michael Schmelich (65, Greens).

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Support comes from the tenants’ association. “Many landlords have the breath to wait a year or two for the right tenant who can raise the amount that is no longer to be paid,” says Peter Bartels (75).

The industry itself is more optimistic. “The vacancy rate is the result of the high level of new construction activity in recent years. A lot has been completed on Postplatz and Neumarkt. There is not always a suitable tenant for it,” says real estate expert Robert Hesse (40).

And: “In Dresden there is still cheap old building material for rent. The pressure on the market from new residents is also much higher in Berlin and Leipzig.”

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However, Hesse expects full occupancy soon.

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