Empirica: Rent increase in Top 7 at a five-year low

10/07/2019

Purchase prices for apartments are still growing faster than rent prices. According to Empirica, condominiums in the Top 7 cities at mid-year cost 10.4 % more than even a year ago. Rents, by contrast, only increased by 2.6 %. This is the lowest rent increase in five years; rent prices have been rising slower and slower for two years. “Apparently, demand is not growing that much faster than supply now,” Empirica analyst Reiner Braun concludes. “Migration into the cities is slowing somewhat, incomes may be rising a bit slower, but most of all new construction has gained momentum.”


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