Rents are rising in Germany. In major German cities such as Berlin, Frankfurt and Munich, rents have risen by an average of 6.3% compared to the previous year (H2 2023 to H2 2024). However, they are now rising more slowly. From the second half of 2022 (H2 2022) to the second half of 2023 (H2 2023), rents in the major cities rose by an average of 8.2%.
A different trend can be seen in the independent cities. Here, rents rose even more sharply than in the metropolitan areas, by an average of 8.3% compared to the previous year. Moreover, they only rose by 4.8% from H2 2022 to H2 2023. According to the service provider Jones Lang LaSalle (JLL), this development is due, among other things, to stagnating residential construction and a persistent imbalance between supply and demand.
Overall, growth was strongest in Berlin (11.4%), Leipzig (9.8%) and Frankfurt (9.4%). By contrast, rental growth was only 1.4% in Cologne and 3.2% in Munich. New-build rents rose above all in Frankfurt by 15.3%, Hamburg by 12% and Düsseldorf by 10.3%.
© immonewsfeed
