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Real estate agencies are observing a further increase in rents and prices in Frankfurt and the region despite the Corona crisis. This also has to do with the demand from major investors.
Anyone who wants to rent or buy an apartment in Frankfurt and the region must expect prices to continue to rise despite the corona pandemic and the economic crisis that is severely affecting the Rhine-Main area. According to figures from the Colliers brokerage house, rents and prices for existing apartments in Frankfurt, but also in the other major cities in the region, rose in the first half of the year, which was already marked by the crisis. According to the company, the rent for existing apartments that are newly leased in Frankfurt is 13.55 euros per square meter, in Darmstadt at 11.05, in Offenbach at 10.70 and in Wiesbaden at 10.50 euros per square meter. Subsidized living space and small, often furnished apartments up to 35 square meters are not included in these figures.
The Empirica Institute, which also excludes furnished apartments, sees asking rents in Frankfurt at an average of 13.50 euros per square meter, in Darmstadt at 11.11, in Wiesbaden at 10.54 and in Offenbach at 10.27 euros per square meter Square meters.
In the medium term, Colliers anticipates a further increase in rents in Frankfurt and the region. However, this will be rather moderate, estimates the housing market expert Felix von Saucken in an interview with the Frankfurter Rundschau. Big price jumps are no longer to be expected. But he does not expect any declines even during the crisis. Frankfurt and the Rhine-Main area will remain a region with significant influx in the future, he says. “Therefore, the pressure on the housing market will remain high.”
Condominiums in Frankfurt and the region have also become more expensive during the corona pandemic. For an existing apartment in Frankfurt, according to Colliers’ figures, an average of 5440 euros per square meter is to be paid; those who want to buy in Darmstadt must expect prices of 3940 euros per square meter, in Wiesbaden of 3800 euros per square meter, in Offenbach of 3580 euros per square meter . Newly built apartments are always much more expensive.
According to the brokerage house, it is not just the demand from private individuals that drives prices up. Von Saucken also observes that major investors are shifting money into residential properties because they do not promise high returns but a lot of security. According to a survey by the brokerage house, the proportion of investors looking for residential property has even risen since the outbreak of the corona pandemic.
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