Current trends on the real estate market: demand & price dynamics 2024 - ImmoScout24
Immobilien Scout GmbH operates ImmoScout24, Germany's leading digital marketplace for real estate. The platform offers comprehensive options for searching for apartments and houses to buy or rent, as well as services for landlords and owners. Users can rate and advertise properties and benefit from numerous additional functions such as financing advice and relocation services. With a wide reach and a strong network, ImmoScout24 supports its customers in the real estate business.
ImmoScout24: Rise in demand for real estate in German cities and rural regions
The real estate markets in Germany are showing a clear recovery since the low point triggered by the war in Ukraine and the rise in interest rates. Demand has risen sharply, particularly in major cities. According to the latest data, the number of contact requests for real estate in major cities has risen by 58%, while rural regions have also recorded an increase of 25 to 30%. This development reflects the growing interest in residential real estate, which is leading to a shortage of supply. The excess supply that has developed in recent years is slowly beginning to diminish.
Housing market in metropolitan areas: High demand and rising rents
The housing market in Germany's major cities remains extremely tight. Apartments for rent are particularly sought-after, which is reflected in enormous competition. Property advertisements often go offline within 24 hours, and at peak times there are up to 200 contact requests per property. This high demand is leading to a continuous rise in rents, which are increasing significantly, particularly in the new-build segment. Despite the legal framework, rents are rising for both existing and new-build properties, albeit to varying degrees.
New construction as the key to solving the housing shortage
The acute shortage of living space, particularly in major cities, is a major challenge. Germany urgently needs more new construction projects to meet the rising demand. Political support for new construction is therefore essential to ensure economic stability and attractiveness as a country of immigration. At the same time, it is important to create framework conditions that make new construction economically viable. Targeted political measures are the only way to ease the situation on the housing market in the next five to ten years.
