Munich: Rents more expensive than ever - price increases at a nationwide peak

Munich: Rents more expensive than ever - price increases at a nationwide peak

Rent prices in Munich continue to be among the highest in Germany, with the Bavarian capital once again taking the lead in terms of the most expensive rents. According to the real estate portal “immowelt”, rental prices for existing apartments (60 square meters, 2 rooms, 1st and 2nd floors, built in the 1990s) rose by eight percent to 18.58 euros per square meter as of April 1, 2024 compared to the same time in 2022.

Despite efforts to curb the rise in rental prices, Munich remains a leader in this area. The population increase in the city continues, which is mainly due to the professional and income prospects in the state capital. In second place for the most expensive rents is Stuttgart, where the average price per square meter is almost four euros lower than in Munich. Frankfurt am Main completes the podium with just under 14 euros per square meter.

Interestingly, it was not Munich, but the federal capital Berlin that recorded the greatest increase in rental prices. Here, the price per square meter rose by a little more than nine percent compared to 2022, but is still almost five euros below the value in Munich. Hamburg and Frankfurt am Main, on the other hand, show a less strong increase of five percent and just under three percent, respectively.

The managing director of Immowelt, Felix Kusch, predicts further price increases in rents, as the rapid increase in population in the metropolises and the decline in housing construction are increasing the demand for rental apartments. This trend is expected to continue in the coming years.