Number of furnished rental apartments rising rapidly in Germany
More and more furnished apartments are being advertised on real estate platforms in Germany, particularly in big cities. The prices for these are increasing a lot, too.
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In the past five years, the share of furnished apartments in all rental offers in Germany has increased from 8 to 13 percent.
In Germany's five largest cities, the proportion of furnished apartments rose particularly sharply, averaging more than one-third, according to ImmoScout24.
The most significant increase - and by far the highest proportion of furnished rental apartments - was recorded in Berlin, where the share jumped from 13 percent in the fourth quarter of 2018 to 51 percent at the end of 2022. This means that there are now even more furnished apartments on offer in the capital than unfurnished ones.
READ ALSO: Why rents for some properties are starting to fall in Germany
ImmoScout24 managing director Gesa Crockford told the German Press Agency that the rapid increase in furnished apartments is partly due to regulations in the rental market. Although furnished apartments are not exempted from the rent brake, there is a "grey area" for apartments which are rented out temporarily and furnished apartments often fall into this category.
This also means that the asking rents for furnished apartments can be significantly higher and "puts additional pressure on the rental market", Crockford said.
Across Germany, asking rents per square metre for furnished apartments have also risen significantly more than those for unfurnished apartments since 2018, the real estate platform ImmoScout24 reported.
While asking rents for unfurnished apartments have increased from €7.41 to €9.32 per square metre in the last five years, rents for furnished units rose from €15.50 per square metre to €22.50 - an increase of nearly 50 percent. According to ImmoScout24, furnished offers often include services such as janitor, cleaning or laundry services.
Vocabulary
Furniture – (die) Möbel
Furnished – möbliert
Rising - steigend
To get more expensive - verteuern
We’re aiming to help our readers improve their German by translating vocabulary from some of our news stories. Did you find this article useful? Let us know.
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In the past five years, the share of furnished apartments in all rental offers in Germany has increased from 8 to 13 percent.
In Germany's five largest cities, the proportion of furnished apartments rose particularly sharply, averaging more than one-third, according to ImmoScout24.
The most significant increase - and by far the highest proportion of furnished rental apartments - was recorded in Berlin, where the share jumped from 13 percent in the fourth quarter of 2018 to 51 percent at the end of 2022. This means that there are now even more furnished apartments on offer in the capital than unfurnished ones.
READ ALSO: Why rents for some properties are starting to fall in Germany
ImmoScout24 managing director Gesa Crockford told the German Press Agency that the rapid increase in furnished apartments is partly due to regulations in the rental market. Although furnished apartments are not exempted from the rent brake, there is a "grey area" for apartments which are rented out temporarily and furnished apartments often fall into this category.
This also means that the asking rents for furnished apartments can be significantly higher and "puts additional pressure on the rental market", Crockford said.
Across Germany, asking rents per square metre for furnished apartments have also risen significantly more than those for unfurnished apartments since 2018, the real estate platform ImmoScout24 reported.
While asking rents for unfurnished apartments have increased from €7.41 to €9.32 per square metre in the last five years, rents for furnished units rose from €15.50 per square metre to €22.50 - an increase of nearly 50 percent. According to ImmoScout24, furnished offers often include services such as janitor, cleaning or laundry services.
Vocabulary
Furniture – (die) Möbel
Furnished – möbliert
Rising - steigend
To get more expensive - verteuern
We’re aiming to help our readers improve their German by translating vocabulary from some of our news stories. Did you find this article useful? Let us know.
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