{"id":2364,"date":"2017-02-21T12:00:36","date_gmt":"2017-02-21T12:00:36","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=2364"},"modified":"2023-09-27T12:41:08","modified_gmt":"2023-09-27T11:41:08","slug":"rental-costs-increase-berlin-despite-rent-cap","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/02\/21\/rental-costs-increase-berlin-despite-rent-cap\/","title":{"rendered":"Rental costs increase in Berlin despite rent cap"},"content":{"rendered":"<p><strong>Average rental prices increase by 5.6% in Berlin during 2016, indicating a string price rise despite rent cap being introduced in 2015.<\/strong><\/p>\n<p>A housing market report by Berlin Hyp and real estate advisor CBRE explained that the growth was led by apartments, for which rents increased by up to 15.7%, depending on their location.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"OWu0e6gabW\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/08\/25\/germanys-investors-manchesters-property-unusual-friendship\/\">Germany\u2019s investors &#038; Manchester\u2019s property: An unusual friendship<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Germany\u2019s investors &#038; Manchester\u2019s property: An unusual friendship&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/08\/25\/germanys-investors-manchesters-property-unusual-friendship\/embed\/#?secret=zecKZvtmIq#?secret=OWu0e6gabW\" data-secret=\"OWu0e6gabW\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Reasons for the drastic increase in rents is the city\u2019s rising population. In 2015 alone, Berlin\u2019s population increased by 48,000 and since 2005 the city has grown by 270,000 residents.<\/p>\n<p>Thanks to the rent cap (forbidding landlords to increase rents by more than 10% the local average), however, rents in the capital stayed below those of other German cities like Cologne, Hamburg, Frankfurt, Munich and Dusseldorf. <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/02\/16\/manchester-salford-see-biggest-rise-rental-yields\/\" target=\"\" rel=\"noopener\">Average asking rents<\/a> in Berlin went up to \u20ac9 per square meter per month, which is still considerably lower than Munich\u2019s average of \u20ac15.11.<\/p>\n<p>\u201cThe ongoing development of Berlin is stunning. The dynamics on the market for rental apartments and new construction projects as well as the acceleration of purchasing prices are unique in Germany,\u201d says Henrik Baumunk, head of residential services at CBRE in Germany.<\/p>\n<blockquote><p>\u201cHowever, in terms of rents and purchasing prices there is still a lot of potential in Berlin, particularly due to the ongoing population growth and at the same time moderate construction activity as well as the rising economic strength of the city.\u201d<\/p><\/blockquote>\n<p>Gero Bergmann, a member of the board of management at Berlin Hyp, adds: \u201cThe supply is getting smaller because tenants are less willing to move in view of the decreasing supply and higher asking prices.\u201d<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"lPRl7ull70\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/12\/08\/tell-us-hipster-well-find-perfect-property-hotspot\/\">Tell us how hipster you are and we\u2019ll find the perfect property hotspot for you<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Tell us how hipster you are and we\u2019ll find the perfect property hotspot for you&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/12\/08\/tell-us-hipster-well-find-perfect-property-hotspot\/embed\/#?secret=LAUBhhGRFm#?secret=lPRl7ull70\" data-secret=\"lPRl7ull70\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>\u201cOne of the key highlights of this report is the sustained growth of Berlin\u2019s residential sector. Over the past few years investors have been shifting capital in increasing amounts into Europe\u2019s most undervalued capital city,\u201d said Ian Sigmund, investment associate at IP Global.<\/p>\n<p>For those looking to invest in Berlin\u2019s booming property, it may be worthwhile considering properties that are <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/02\/17\/2017-year-build-rent\/\" target=\"\" rel=\"noopener\">new build or completely refurbished<\/a> as these are exempt from the rental capping law.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Average rental prices increase by 5.6% in Berlin during 2016, indicating a string price rise despite rent cap being introduced in 2015. A housing market report by Berlin Hyp and real estate advisor CBRE explained that the growth was led by apartments, for which rents increased by up to 15.7%, depending on their location. Germany\u2019s<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/02\/21\/rental-costs-increase-berlin-despite-rent-cap\/\" title=\"ReadRental costs increase in Berlin despite rent cap\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":1069,"featured_media":4500,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[141],"tags":[232,83,233],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2364"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=2364"}],"version-history":[{"count":1,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2364\/revisions"}],"predecessor-version":[{"id":6096471,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2364\/revisions\/6096471"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/4500"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=2364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=2364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=2364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}