The cost of rent in Germany has greatly increased. After an increase of 4.9% in 2016, rates averaged an additional 4.5% in 2017. These figures are still easily outpacing the growth in consumer prices, which in 2017 amounted to 1.8%. Such data appear in the report of the Federal Institute for Construction, Urban Economics and Spatial Research. It is noted that there are significant regional differences in the cost of rent. Munich, Frankfurt and Stuttgart are the most expensive places to stay in Germany, Xinhuanet reports. In addition, these cities are attractive for foreign investors.
Employee of the Federal Institute, Matthias Waltersbacher, noted that the ongoing construction boom in major cities was clearly insufficient to keep prices under control of new tenants. But, in his opinion, in the future, the construction of new housing units can slow down the existing dynamics.
Earlier it was reported that the fall in prices for apartments in Greece is slowing.