The rental prices for new buildings in German metropolises have significantly increased in 2023. According to a recent analysis by JLL Residential Research, the figures are as follows:
In Hamburg, the average rent for new buildings in the fourth quarter of 2023 is €18 per square meter, representing an 8% increase compared to the fourth quarter of 2022. In Frankfurt, the average rent in the fourth quarter of 2023 has even risen to €20.10 per square meter, which is 10% higher than the same period in 2022. The most significant development can be observed in the capital city of Berlin, where there has been a 24% increase to €20.50, surpassing the €20 mark.
The main reason for these sharp increases is the scarcity of housing in these cities. The demand for rental apartments far exceeds the available supply. Due to the current market situation, this situation is expected to further worsen as many planned new construction projects may either not be realized or delayed significantly.
If you are interested in investing in your future, we are here to provide you with advisory services. Please contact us at www.residential.jll.de.