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External Publication 4. January 2019 Philipp Deschermeier / Heide Haas / Michael Voigtländer at the Journal of Housing and the Built Environment The case of North Rhine-Westphalia: Impact of housing market transformation in Germany on affordable housing

The German housing market has changed significantly since the first decade of the new millennium. A considerable amount of public sector and company-owned employee housing has been sold off, while a number of large publicly listed real estate firms have emerged. This has been particularly evident in North Rhine-Westphalia.

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External Publication
Impact of housing market transformation in Germany on affordable housing
External Publication 4. January 2019 Philipp Deschermeier / Heide Haas / Michael Voigtländer at the Journal of Housing and the Built Environment

The case of North Rhine-Westphalia: Impact of housing market transformation in Germany on affordable housing

Philipp Deschermeier / Heide Haas / Michael Voigtländer at the Journal of Housing and the Built Environment German Economic Institute (IW) German Economic Institute (IW)

The German housing market has changed significantly since the first decade of the new millennium. A considerable amount of public sector and company-owned employee housing has been sold off, while a number of large publicly listed real estate firms have emerged. This has been particularly evident in North Rhine-Westphalia.

This paper examines the consequences of these changes for the development of rental prices, especially at the lower end of the market, by analysing 300,000 advertisements for rental homes in the ten largest cities in North Rhine-Westphalia. The results show that on average, and taking quality and location into account, the least expensive rental homes are offered by larger housing organisations with co-operatives being especially well priced, while there are only moderate differences between public companies and big private companies. One explanation may be that the rent policies of large private and public providers have converged, while co-operative housing associations still provide rental homes considerably more cheaply.

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External Publication
Impact of housing market transformation in Germany on affordable housing
External Publication 4. January 2019 Philipp Deschermeier / Heide Haas / Michael Voigtländer at the Journal of Housing and the Built Environment

The case of North Rhine-Westphalia: Impact of housing market transformation in Germany on affordable housing

Philipp Deschermeier / Heide Haas / Michael Voigtländer at the Journal of Housing and the Built Environment German Economic Institute (IW) German Economic Institute (IW)

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How Berlin’s “Socialization” Policy Is Harming Germany as a Business Hub
IW-Policy Paper No. 6 10. July 2026 Michael Voigtländer / Philipp Deschermeier

How Berlin’s “Socialization” Policy Is Harming Germany as a Business Hub

Berlin's plans to socialise private housing companies under Article 15 of the Basic Law are far more than a local political experiment.

Michael Voigtländer / Philipp Deschermeier IW

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IW-Report No. 24 12. May 2026 Pekka Sagner / Michael Voigtländer

Migration and Housing: Economic Effects and Social Implications

This report examines the interplay between migration and Germany’s housing market, combining a stock-taking of key market trends with an empirical assessment of representative household data (SOEP).

Pekka Sagner / Michael Voigtländer IW

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