Student housing prices in Germany have risen from between 9.8 percent (Griefswald) and 67.3 percent (Berlin) since 2010, according to a student price index published by The German Economic Institute (IW) in Cologne. The index has cited housing refurbishments as one of the key factors in this increase, in addition to strong demand for housing in large cities.
90 percent of Germany’s housing market is served by private landlords, typically with a trend of high quality, one-bedroom apartments of about 30 square metres becoming most common. Counted at 12,000 apartments in 2010, the number of these 30 square metre apartments is expected to rise to 41,000 units by 2020, newly built and or renovated.
Why so expensive?
These 30 square individual apartments are usually offered at a flat rate, including all utilities, and are often provided furnished – aiming to answer perhaps an international student market, more than a local student market.
With the number of international students in Germany increasing annually by 4.5%, the scope for renovated flats continues to push housing costs higher, affecting the entire market.
To help international and native students make a fair assessment for themselves, the German Economic Institute’s study includes an interactive map of Germany where students can search 20 and 40 square metre flats, measuring the difference in the cost between choosing a furnished or unfurnished flat, rating this against the distance the flat is from a university.
Read more on this story in The Local, or access the full report from the German Economic Institute here.
