A new housing demand forecast calls into question previous estimates of the housing shortage in Germany. Instead of the assumed 400,000 new apartments per year, the research and consulting institute Empirica forecasts a demand of only 170,000 apartments. According to Empirica, many of the recently built apartments were built in the "wrong place". As a result, they are not helping to alleviate the housing shortage.
"Capital.de" writes that Empirica's estimate has been met with fierce criticism, particularly from Rolf Buch, the head of Germany's largest housing group Vonovia. He argues that the reality of the housing search differs significantly from the forecasts and that the housing crisis should not be played down. In an interview with NTV, Empirica boss Reiner Braun, on the other hand, emphasizes that the forecast is by no means an all-clear, but rather aims to show the demand - by region - in a differentiated manner.
The Empirica study makes it clear that there is a particular need for new apartments in the north-west and south of Germany and in the areas surrounding Berlin. However, the hurdles for new construction in the metropolitan areas, where the shortage is greatest, are high. Even if the target of 170,000 apartments is reached, it is questionable whether it will be able to stabilize the tight housing markets. The complete housing market forecast is available at: empirica-institut.de.
Sources: empirica-institut.de/n-tv.de/t-online.de
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