According to the Student Housing Report 2020 published by the financial services provider MLP in cooperation with the Institut der deutschen Wirtschaft (IW), student housing is becoming increasingly expensive even during the Corona crisis. A total of 30 cities in Germany were examined for the analyses of price developments for rents of model student apartments in the second quarter of 2020. In order to illustrate the affordability of student housing based on a sample apartment description, the income situation of students during the crisis was also taken into account.
The result is sobering: In 27 of the 30 university cities surveyed, rents for student housing have risen in relation to the first quarter. Even with the highest housing allowance under BAföG, students in these cities are unable to cover the cost of rent. This is also the result of the impact of the Corona crisis, as a large number of students have been unable to hold down their student jobs. Even government financial support could not compensate for the discrepancy between rising rents and falling net income. For the calculation of price trends in the student housing sector, the rental prices of a sample apartment of 30 square meters of living space with average furnishing quality were evaluated. All sample apartments are centrally located and in the immediate vicinity of the university.
In addition to the basic rent, ancillary housing costs of 20 percent were also added to the rent. According to evaluations of rental prices (warm rent), the most expensive student apartments are located in Munich. Here, the average warm rent of a sample apartment is 724 euros. The researchers see one explanation for the price increase in the fact that other tenant groups have had to switch to other types of apartments that are more favorable for them due to the financial effects of the Corona crisis, and these are therefore in greater demand.
Source: MLP
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