01.07.2022 – 09:40
real estate
Nuremberg (end)
A current immowelt analysis of the asking rents for apartments with and without a balcony in 14 major German cities shows:
- Competitive housing markets: the higher the rent, the lower the surcharge tends to be for a balcony
- Munich: 80 square meters without a balcony already cost 1,350 euros – with a balcony it’s only 10 euros more
- High-priced cities of Hamburg and Düsseldorf: no surcharge for properties with a balcony
- 40 euros more rent with balcony in Dortmund (580 euros); 20 euros more in Hanover (720 euros), Essen (630 euros), Leipzig (580 euros) and Dresden (570 euros)
- Balcony share of the offer: between 47 percent in Essen and 71 percent in Berlin
- The balcony accounts for up to 50 percent of the living space: with the same overall size, apartments with a balcony have less interior space
In many large cities, the housing market is so competitive that tenants can hardly be choosy. In many places, even properties without a balcony can be rented at such high prices that the price surcharges for a feature that is actually coveted, such as a balcony, are very small. In Munich, the most expensive city in Germany, an exemplary 80-square-meter apartment without a balcony is being offered for 1,350 euros – that’s only 10 euros less than an apartment of the same area with a balcony. This is the result of an analysis by immowelt, in which the asking rents for new rentals of existing apartments (built between 1945 and 2018) were compared with and without a balcony.
No surcharge for balconies in Düsseldorf and Hamburg
Rent levels are also very high in Düsseldorf and Hamburg. Even without a balcony, exemplary 80 square meters are already being offered for 910 euros. There is no measurable surcharge for properties with a balcony in either the capital of North Rhine-Westphalia or in the Hanseatic city.
Basically, the higher the price level in a city, the lower the surcharge tends to be for a balcony. In cheaper cities, on the other hand, the surcharge is more significant. In Dortmund, an 80 square meter rental apartment with a balcony is being offered for EUR 580 – EUR 40 more than without a balcony. Tenants in Essen (630 euros), Leipzig (580 euros) and Dresden (570 euros) have to pay 20 euros more per month if they want a balcony. If the rent level in a city is lower, many people still have some room for improvement in their budget. In order to have a balcony in the apartment, many are willing to pay a little more rent every month. In high-priced cities, many renters are already looking at the upper end of their budget. Many people can no longer or do not want to afford a higher rent because of a balcony.
Special case Frankfurt am Main: 40 euros more for a balcony
A special case is Frankfurt am Main: In the banking metropolis, the asking rents for apartments without a balcony are already very high at EUR 1,010 for 80 square meters – it is the second most expensive city in the study. Tenants who want a balcony have to pay 40 euros more per month: 1,050 euros are required for an exemplary apartment with a balcony.
When classifying it, however, it should be borne in mind that the area of a balcony usually accounts for 25 to 50 percent of the total area of the apartment. A balcony with 4 square meters, for example, would be calculated with up to 2 square meters in the total area of 80 square meters. With the same total area, the actually usable interior area in apartments with a balcony is slightly less.
Share of apartments with a balcony between 47 and 71 percent
In almost all cities, apartments with balconies are in the majority: in 13 of the 14 cities surveyed, apartments with balconies make up more than 50 percent of the total supply. Only in Essen are just under half (47 percent) of all advertisements with a balcony. The highest proportion of balconies is in Berlin: almost 3 out of 4 of the apartments on offer in the capital have a balcony.
Detailed tables for the 14 cities examined are available for download here.
basis of calculation
The data basis for calculating the rents were the offers advertised on immowelt.de in the 14 German cities with more than 500,000 inhabitants, which were offered in the months of January to May. Only offers that were increasingly in demand were considered. The values calculated using hedonic methods reflect the rental price for an exemplary apartment with 3 rooms and 80 square meters on the 2nd floor. A year of construction between 1945 and 2018 is considered to be an inventory. The rental prices are net cold rents for new rentals of the properties advertised on immowelt.de.
You can find this and other press releases from immowelt.de in our press area at presse.immowelt.de.
About real estate:
immowelt is part of the AVIV Group, one of the largest digital real estate tech companies in the world.
The immowelt mission is to digitize all steps of the real estate transaction in the future in order to make it as uncomplicated and simple as possible for everyone involved. The basis for this is provided by the wide-ranging immowelt portals, which are among the leading real estate platforms in Germany and Austria and are already successfully bringing together owners, real estate professionals and those looking for something. With data-supported services, immowelt supports the uncomplicated search for a rental apartment, the effective marketing of a property and tailor-made financing for your own four walls. Thanks to decades of experience and extensive real estate know-how, immowelt creates the perfect sense of achievement for tenants and landlords, real estate professionals, property owners and buyers.
In addition to immowelt, other leading real estate online marketplaces in France, Belgium and Israel belong to the AVIV Group, which is part of Axel Springer SE.
Press contact:
immowelt GmbH
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90411 Nuremberg
Barbara Schmid
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Original content from: immowelt, transmitted by news aktuell
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