Germany Relocation: Find Out the Latest Rental Market Trends
Our latest Cartus Germany MarketWatch focuses on Munich, a frequent destination for international assignees. In particular, we discuss the city’s rental market trends, available property-types, and popular expatriate neighbourhoods. We also take a look at the wider rental market trends across Germany.
Found in the south of Germany, Munich has lots to offer international assignees. As the capital of the German state of Bavaria, it has traditional beer halls to try and festivals to enjoy. The city has a very cosmopolitan side too, with lots of art galleries, museums, and Mediterranean-style street cafes. Of course, for those that love the outdoors, Munich is known for its green open spaces, including the city’s English Garden or Englischer Garten, the world’s largest urban public park. And if you’re a football fan like me, you’re also well placed to visit the Allianz Arena, the home of FC Bayern Munich, Germany’s most successful football club.
Supply Vs. Demand
The supply-demand imbalance is most likely the main influence in today’s Munich rental market. And this is a trend that we’re experiencing across the country. As the number of prospective tenants rise, growing demand outstrips available rental stock, and this in turn pushes up rental rates. Encouragingly for international assignees relocating to Munich, we are seeing rising rental rates slow somewhat when compared to 2015.
Where to Live?
Popular neighbourhoods in Munich include the northern area of Schwabing, and Bogenhausen and Haidhausen-Lehel, which are both east of the city centre. Some relocating families may choose to look outside the city. Starnberg for example, is a small lakeside town 25km from Munich.