After receiving a generous promotion, finance professor Claus Rerup, 52, is looking to buy his first home in Frankfurt. Finding a place in Holzhausenviertel, a nice part of the city center where he currently rents a two-bedroom 100 m² apartment for € 2,400 per month, is proving difficult, however.
“Housing is really becoming a problem in Frankfurt,” he says. “These might not be the London prices, but it’s not uncommon to find a place to go for € 10,000 per m2.”
Low interest rates and a high level of pent-up demand from tenants who wait years to buy a home they can afford has meant that apartment prices have continued to rise over the past year. , despite the impact of the pandemic on the economy and people’s livelihoods.
In the third quarter of 2020, prices for new apartments were on average € 7,200 per m2, up 8% from the same quarter of 2019, according to Bulwiengesa, a real estate consultancy. Since 2014, the prices of all apartments have increased by approximately …
News Highlights Finance
- According to the source Housing prices in Frankfurt rise despite pandemic
- Check all news and articles from the Finance news updates.