In Germany, 308,000 new homes need to be built each year to meet demand. This is the result of a study conducted by the Institut der deutschen Wirtschaft (IW) on behalf of Deutsche Reihenhaus AG. Those responsible also point out that there is a threat of vacancies in rural regions, whereas too little is being built in major cities.
Thus, by 2025, around 58,100 new apartments would have to be built annually in the seven largest German cities - Berlin, Düsseldorf, Frankfurt am Main, Hamburg, Cologne, Munich and Stuttgart. Around 46,200 of these 58,100 apartments would have to be built in Germany's four largest cities - 22,200 new apartments in Berlin, 10,500 in Hamburg, 7,800 in Munich and 5,700 in Cologne, according to the IW.
The situation is different in rural areas, however. According to the IW, the population will shrink in around 200 out of 400 German counties. At the same time, every second district is already building more housing than necessary. The IW experts therefore expect massive vacancy and decay in the years to come - especially in Saxony-Anhalt and Saarland. The experts therefore suggest that the expansion of catchment areas in major cities and the money in rural regions should be invested in refurbishment measures rather than in housing construction.
Source and further information: iwkoeln.de
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