These are the German cities where rents have been going up the most
A new study released on Wednesday shows an increase in average annual rent prices for new rentals in big cities across Germany such as Munich and Berlin.
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If you haven't moved into a new place in a major German city since 2011, you’ve likely had a bit of luck and avoided sharp rental increases in recent years, as this graph shows.
Munich takes the top spot for the city in Germany with the largest increase in average annual rent costs over the past six years, according to research by the letting website immowelt.de.
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In the Bavarian capital, tenants have to pay on average €5,640 more per year for a new rental contract in 2017 compared to what they would have paid for a contract signed in 2011 - perhaps unsurprising given the city's reputation within Germany as being most unaffordable.
The nation’s capital saw the second largest increase, with yearly rents in 2011 at €6,840. That figure has increased significantly; now in Berlin rent costs about €11,520 annually.
READ ALSO: Berlin rents shot up by nearly 10 percent in two years: report
Stuttgart had the third largest rent increase. Residents there have to pay €3,240 more for a flat now than they would have had to do in 2011.
Further down the graph, with lower rent prices than larger cities like Hamburg or Frankfurt, Leipzig still showed a considerable rent increase. In the eastern German city - nicknamed Hypezig for its cool reputation - it now costs €2,160 more to rent a flat than it did in 2011, when it only cost €5,400.
Six years ago Leipzig was also the cheapest of the 14 German cities in the study. Now that’s no longer the case, as the west German city of Dortmund takes that spot.
Rents in cities in the Ruhr area such as Essen and Dortmund recorded comparatively low growth. Still, annual flat rates today in these two cities respectively cost €840 and €1,080 more than they did six years ago.
Just under 54,000 rental flats between 80 to 120 square metres were examined during the first half of 2011 and 2017 for the statistics collected in this study. The apartments had been posted on the real estate website immowelt.de.
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If you haven't moved into a new place in a major German city since 2011, you’ve likely had a bit of luck and avoided sharp rental increases in recent years, as this graph shows.
Munich takes the top spot for the city in Germany with the largest increase in average annual rent costs over the past six years, according to research by the letting website immowelt.de.
In the Bavarian capital, tenants have to pay on average €5,640 more per year for a new rental contract in 2017 compared to what they would have paid for a contract signed in 2011 - perhaps unsurprising given the city's reputation within Germany as being most unaffordable.
The nation’s capital saw the second largest increase, with yearly rents in 2011 at €6,840. That figure has increased significantly; now in Berlin rent costs about €11,520 annually.
READ ALSO: Berlin rents shot up by nearly 10 percent in two years: report
Stuttgart had the third largest rent increase. Residents there have to pay €3,240 more for a flat now than they would have had to do in 2011.
Further down the graph, with lower rent prices than larger cities like Hamburg or Frankfurt, Leipzig still showed a considerable rent increase. In the eastern German city - nicknamed Hypezig for its cool reputation - it now costs €2,160 more to rent a flat than it did in 2011, when it only cost €5,400.
Six years ago Leipzig was also the cheapest of the 14 German cities in the study. Now that’s no longer the case, as the west German city of Dortmund takes that spot.
Rents in cities in the Ruhr area such as Essen and Dortmund recorded comparatively low growth. Still, annual flat rates today in these two cities respectively cost €840 and €1,080 more than they did six years ago.
Just under 54,000 rental flats between 80 to 120 square metres were examined during the first half of 2011 and 2017 for the statistics collected in this study. The apartments had been posted on the real estate website immowelt.de.
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