Apartments with 1.5 rooms for sale and rent remain in demand. This is the finding of the IW Cube Compact Living Report 2022. Purchase prices for these so-called "compact living properties" rose by 12.2 percent from 2020 to 2021, adjusted for quality. Rents rose by a quality-adjusted 2.5 percent in the same period.
Purchase prices for 1.5-room apartments increased particularly in Chemnitz and Leipzig. Here, price increases were 24.4 and 20.5 percent respectively. However, price increases were also high in Wuppertal. There, it amounted to 19.6 percent. In terms of rental price development, the cities of Berlin, Mönchengladbach, Leipzig and Wuppertal in particular saw increases of around 4.3 to 4.6 percent.
The report was commissioned by Cube Real Estate GmbH and published by the Cologne Institute for Economic Research. The report also shows that around 2.2 million people in Germany live in a 1.5-room apartment, which is their primary residence. In addition to singles, it is mainly young professionals who live in so-called compact living properties.
Source and further information: iwkoeln.de/studies
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