Rent in Düsseldorf rising rapidly: Where is the living space?

Rent in Düsseldorf rising rapidly: Where is the living space?

in Düsseldorf, one of the ten largest cities in Germany, shows a current analysis of the real estate market situation that the living space market is increasingly shaped by rental interest. According to Antenn Düsseldorf more and more people are deciding to live for rent instead of acquiring property. While the purchase prices for apartments have increased in recent years, many prefer to accept the higher rents.

The demand for rental apartments in Düsseldorf has risen sharply. In 2023 there was 23 rent inquiries on a request for purchase from real estate; There are currently 27. This shows a clear trend in the volatility of purchase interest in favor of tenancy. In other German metropolises, such as Munich, however, rental inquiries have more than halved, which leads to a stronger orientation of the population in the direction of property.

rising rental prices and purchase prices

The development of rental and purchase prices in Düsseldorf is closely interwoven with general market demand. The current rental price in Düsseldorf is over 13 euros per square meter. Newly built apartments even cost more than 15 euros per square meter. Compared to these rents, purchase prices of over 4,000 euros per square meter for condominiums appear almost cheap. Nevertheless, Düsseldorf remains behind the prices in cities such as Munich and Frankfurt am Main.

The increased demand for living space exceeds the offer, which means that rents in the city will continue to attract. The real estate price mirror of the ring of German brokers shows this development, which is reinforced by an increasing population in Düsseldorf. In recent years, more than 2,000 new apartments have been completed annually, a level that is reminiscent of the construction activities of the 1990s.

challenges and solutions

In order to noticeably reduce the pressure on the rental market, it is essential to create more living space. According to Statista , a goal must be to achieve stable or even falling prices, which makes the creation of additional living space most important. In this context, the need for public promotion of apartments, especially for groups less income.

The proportion of rental price and occupancy-bound rental apartments in the total stock has declined in recent years, while the absolute existence of these subsidized apartments has decreased. In order to counteract this trend, a reversal of the downward trend is sought. This means that in addition to the expansion of the offer, politics must also become more active in order to guarantee affordable living space.