Catella-Analysis: No relief in sight – Berlin now more expensive than Munich
Apartment rents increased Germany-wide by an average of 3.16 % last year, more than they did a year ago. In prime locations, the plus was 2.97 %, slightly less than the previous year, Catella reports. The seven primary markets even saw rises of 6.08 % in prime locations, and 3.68 % in mid-range locations. Average rent prices in prime locations cracked the €17/sqm mark for the first time. Average top yields dropped by 13 basis points to about 4.6 %. The most expensive city is now Berlin at 2.4 %, ahead of Munich (2.7 %), the highest yields among the 80 cities examined were found in Herne (7 %), Cottbus (6.8 %) and Remscheid (6.5 %). Prices were driven up by continued urbanization and the shortage of new construction land in the metropolitan cities; pressure is declining haltingly in the regional residential markets.
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