Berlin rent rises outstrip rest of country
Tom Bristow · 21 Jan 2014, 15:38
Published: 21 Jan 2014 15:38 GMT+01:00
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The Federal Statistics Office said Berlin rents grew by 2.5 percent in December 2013 on the same month in the previous year compared to an average rise of 1.6 percent in the rest of the country.
“In many regions of Germany the tenant can not complain about dramatically rising rents," the office said in a statement.
Destatis said that rents were growing fastest in university towns and cities particularly for new leases. In eastern states, for example, they rose by between 0.3 and 0.9 percent.
The statisticians also pointed out that rents have risen at a slower rate than inflation from 2005 to 2013 at 9.8 percent, with the consumer price index rising by 14.3 percent.
And Germany remains a nation of tenants particularly in larger cities. Home ownership rates in Berlin and Hamburg are 15.6 percent and 24.1 percent, that compares to 45.6 percent nationally.
The average rent in Berlin is €10.52 per m2, €15.81 in Munich, €11.72 in Hamburg and €13.11 in Frankfurt, according to property portal Immowelt.