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Michael Voigtländer / Pekka Sagner Expertise 30. April 2019 ACCENTRO-IW-Housing Cost Report 2019: Eine Analyse von Mieten und Wohnnutzerkosten für 401 Kreise

Der Wohnnutzerkostenansatz erlaubt einen Vergleich der Mietkosten und der regelmäßig anfallenden Kosten, die ein Wohneigentümer aufbringen muss. Dieser Ansatz wird genutzt, um die relative Vorteilhaftigkeit von Wohneigentum gegenüber Mieten zu bestimmen.

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Eine Analyse von Mieten und Wohnnutzerkosten für 401 Kreise
Michael Voigtländer / Pekka Sagner Expertise 30. April 2019

ACCENTRO-IW-Housing Cost Report 2019: Eine Analyse von Mieten und Wohnnutzerkosten für 401 Kreise

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Der Wohnnutzerkostenansatz erlaubt einen Vergleich der Mietkosten und der regelmäßig anfallenden Kosten, die ein Wohneigentümer aufbringen muss. Dieser Ansatz wird genutzt, um die relative Vorteilhaftigkeit von Wohneigentum gegenüber Mieten zu bestimmen.

Homeownership remains attractive. At present, owner-occupying your home is more affordable than renting in 94 percent of Germany’s districts and independent cities. The average economic benefit of homeownership nationwide is nearly 40 percent. Even in the country’s metropolises, where condominium prices experienced particularly brisk growth in recent years, homeownership retains its economic benefits. Owner-occupancy in Berlin, for instance, is currently about 27 percent more affordable than renting, while being 35 percent more affordable in Hamburg. This is explained by the combination of simultaneous rental growth and the still highly favourable conditions on the market for mortgage loans. While interest rates have registered a modest increase lately, they are not expected to go up sharply any time soon. Moreover, an interest rate sensitivity analysis revealed that a large number of districts would be resilient to an interest rate tightening cycle. The fact that owner-occupied-housing costs are lower than the costs of renting almost everywhere also suggest that prices for freehold residential property are more likely to keep rising, defusing concerns that the housing market might be overheating.

Meanwhile, the fact that the number of first-time buyers has declined overall while their age average and— most recently—their income levels have increased indicates that few households in Germany benefit from the favourable terms of financing in the sense that they take advantage of them to acquire homes for owner-occupancy. Capital adequacy requirements, which go up in sync with rising prices, represent one of several reasons for this. In order to enable more households to opt for homeownership and, not least, to bolster their retirement schemes by doing so, the body politic should review the entry thresholds on the market for freehold residential property and lower them for the sake of preserving the country’s financial stability.

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Eine Analyse von Mieten und Wohnnutzerkosten für 401 Kreise
Michael Voigtländer / Pekka Sagner Expertise 30. April 2019

Pekka Sagner / Michael Voigtländer: ACCENTRO-IW HOUSING COST REPORT 2019

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How the Berlin Rent Cap Affected Private Landlords
Pekka Sagner / Michael Voigtländer IW-Trends No. 3 20. August 2021

How the Berlin Rent Cap Affected Private Landlords

The effects of the Berlin rent cap on the city’s housing market were wide-reaching, with the supply of rental accommodation falling by more than half while the cap was in force.

IW

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Pekka Sagner / Maximilian Stockhausen / Michael Voigtländer IW-Analyse No. 136 21. July 2020

Housing – the new social question?

The sharp rise in rents and housing prices in the 2010s, particularly in the major conurbations, has led some to assert that housing is “the social question of our time”.

IW

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