Survey: Further decline in rental housing supply expected - Berlin's Housing Market Faces Crisis as Affordable Rentals Dwindle
The housing market in Berlin faces a challenging outlook, according to a recent survey by Investitionsbank Berlin (IBB). Around 200 experts from various sectors, including housing companies, banks, and academia, predict a further decline in rental apartment supply, particularly in lower and middle price segments.
The IBB's housing market barometer reveals that the supply of social housing units is dwindling, exacerbating the rental market situation in Berlin. Finding rental apartments, especially in the lower and middle price segments, is becoming increasingly difficult due to supply shortages.
Experts warn that only the highest price segment (net cold rents of 20 euros per square meter) maintains a balanced supply and demand relationship. The lack of medium and lower-priced apartments is a pressing concern. High construction costs and lengthy building permit procedures are identified as central barriers to creating more housing in Berlin.
The survey also highlights the greatest demand in Berlin is for medium-sized apartments between 70 and 100 square meters.
The IBB's housing market barometer paints a grim picture of Berlin's rental market. With a dwindling supply of affordable housing and high demand for medium-sized apartments, the city faces significant challenges in meeting its housing needs. Addressing high construction costs and streamlining building permit procedures will be crucial to alleviate the situation.
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