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Ralph Henger / Kirill Pomogajko / Michael Voigtländer IW-Trends No. 3 25. September 2012 Is There a Speculative Bubble in the German Residential Property Market?
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Is There a Speculative Bubble in the German Residential Property Market?
Ralph Henger / Kirill Pomogajko / Michael Voigtländer IW-Trends No. 3 25. September 2012

Is There a Speculative Bubble in the German Residential Property Market?

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German Economic Institute German Economic Institute

In the years 2010 and 2011 prices for residential property throughout Germany have risen in real terms for the first time in a decade. At up to 5 percent per annum the price increases in some metropolitan areas are so steep that there are fears of an overheated market or the development of a speculative bubble. In fact, however, there are no signs of a speculative bubble in the German property market. On the contrary, prices are following rents and the strong growth in the economy. The main drivers of the dynamic price development in large cities are re-urbanisation and the desire of investors to find a safe place to put their money.

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Download PDF
Is There a Speculative Bubble in the German Residential Property Market?
Ralph Henger / Kirill Pomogajko / Michael Voigtländer IW-Trends No. 3 25. September 2012

Is There a Speculative Bubble in the German Residential Property Market?

Download PDF

German Economic Institute German Economic Institute

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Pekka Sagner / Michael Voigtländer in International Journal of Housing Policy External Publication 6. May 2022

Supply side effects of the Berlin rent freeze

On 23 February 2020, the Berlin Senate introduced the Berlin rent freeze (‘Mietendeckel’). The law was repealed on 25 March 2021. The Berlin rent freeze was an unprecedented market intervention in the German housing market.

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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.

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