The cost of housing is rising. This is the result of the "Postbank Housing Atlas", in which the housing markets of the 401 German districts and independent cities are examined by experts from the Hamburg Institute of International Economics (HWWI). One of the benchmarks used by the experts is disposable household income. According to a common rule of thumb, no more than 30 percent of this should be spent on housing, for example on loan financing.
Whereas a 70-square-meter apartment was still available in 379 counties and independent cities according to this rule of thumb in 2019, it will only be available in 363 of 401 counties and independent cities in 2020. Residents in Munich, Berlin, Frankfurt am Main, Hamburg and the districts of Nordfriesland, Miesbach, Garmisch-Partenkirchen and Aurich, among others, have to spend a particularly high proportion of their regional disposable income (more than 40 percent of household income) on loan financing - which was based on a special calculation for the study. The frontrunner here, despite high household incomes, is Munich with more than 50 percent of average household income.
By contrast, residents in Gelsenkirchen (North Rhine-Westphalia) and Salzgitter (Lower Saxony) have good cards. Here, buyers actually have an advantage over tenants. In 26 major cities with a population of 100,000 or more, buyers do not come off any better than tenants in terms of financial burdens, but they pay only marginally more for the purchase (less than 5 percentage points). These cities include Bremerhaven, Duisburg and Wolfsburg. For more information, interested parties can visit the website postbank.de
Source: postbank.com
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