Housing and Property Markets in Germany 2011 - Bundesinstitut für ...

8 Housing and Property Markets in Germany 2011 | Specific current and future housing market trendsThere are significant regionaldifferences in rental and propertyprices. Apart from an extensive pricedifferential ranging from the south viathe west and north to the east, thereis also a significant price differentialbetween cities and rural districts;metropolitan core areas stand outfrom among other major cities (seeMap 3). The gap in prices and rentsbetween booming and shrinkingareas is particularly significant.Housing constructionactivity had declined fora long time – increasednew construction since2010New housing construction declinedfrom the mid 1990s to 2009 (seeFigure 4). This was true of bothowner-occupied homes andmultiple dwellings. Constructionis increasingly concentrated onurban areas. The buildings thereare generally still multi-storey.New construction of detachedand semi-detached houses is ofspecial importance to surroundingcommunities. The housingconstruction volume has reversedits structure since the mid-1990s– now, the market is dominated byinvestments in existing buildings, ata rate of approx. 80 %, rather thannew buildings. These investmentsgo towards modernisation ormaintenance. Some investment isalso taking place in shrinking marketsto assure the marketability and, inparticular, the energy-based qualityof buildings.Map 3 Significant regional rent price differences of quoted rents 2010BremenKielHamburgSchwerinBremenKielHamburg SchwerinBBSR-Analysen KOMPAKT 02/2012HannoverBerlinHannoverPotsdam Magdeburg PotsdamMagdeburgBerlinDüsseldorf DüsseldorfDresden DresdenErfurt ErfurtWiesbaden WiesbadenMainzSaarbrückenMainzSaarbrückenStuttgart StuttgartMünchenMünchen100km © BBSR Bonn 2011Proportional to surface areaProportions based on number of residential unitsRents in new buildings and rents in existing buildings(quoted rents, net rent excl. services) 2010 in € per sq. m.Notes:The two thematic maps represent the level of rents in new buildings and rents into less than 4.50existing buildings for administrative districts and autonomous cities. The spatialrepresentation in the map on the left is based on cadastral areas. In the cartogram4.50 to less than 5.00 on the right, the areas of administrative districts have been reduced or enlargeddepending on the respective number of residential units in multi-family dwellings.5.00 to less than 5.50 The neighbourly relationships remain intact, thus creating a visible distortion.5.50 to less than 6.006.00 to less than 7.00Data source: BBSR Housing Market Monitoring System, IDN ImmoDaten GmbHGeometric basis: BKG, administrative districts (modified), 31.12.20097.00 to less than 8.00Notes:In Brandenburg, internal differentiation of administrative districts by suburbs 8.00 to less than 9.00 and outer development areas. Regional district of Hanover and urban region33 122 100 53 65 27 17 5of Aachen, differentiated by city and former surrounding area.9.00 and more FrequencyInterpretation note:Cartograms offer an opportunity for highlighting the degree to which people or households are affected by the information shown. Above-average rents can be observed particularly in prosperous urban and urbanised regions. The number of rented flats in multi-storey buildings is very high in such areas. Thus, many households pay above-average residential rents. Rural areas are dominated by owner-occupied homes, which means that the relatively lower rents benefit fewer households.