1、THE GERMAN RESIDENTIAL REAL ESTATE MARKET 2024|2025A research publication by DZ HYP|October 2024An asset class facing both opportunities and challenges dzhyp.de1The German residential real estate market 2024|202502 Preface03 Summary 07 Multi-Family housing as an investment 10 Demographics lead to sh

2、ift in housing demand14 New build crisis and halt to renovation 17 Overcoming the building crisis and housing shortage 20 Trend in 19 real estate locations 26 Housing market outlook 28 Brief profiles of 19 locations 28 Augsburg 29 Berlin 30 Bremen31 Cologne32 Darmstadt 33 Dresden 34 Dsseldorf 35 Ess

3、en 36 Frankfurt 37 Hamburg 38 Hannover 39 Karlsruhe 40 Leipzig 41 Mainz 42 Mannheim 43 Munich 44 Mnster 45 Nuremberg 46 Stuttgart 47 Tabellar overview 49 Imprint 53 DZ HYP locationsTABLE OF CONTENTS2The German residential real estate market 2024|2025PREFACEDear readers,Times remain challenging for r

4、eal estate markets.But they also present opportunities,especially for the residential asset class.Investments in rented apartments are considered to be comparatively low-risk,given the combination of insufficient suitable supply and growing demand.Enough reason for us to dedicate a specific market r

5、eport to the residential segment.In this report,we begin by examining current developments in the housing market as well as underlying factors such as demography and the current situation regarding new construction.The report then goes on to examine the individual markets in the seven largest German

6、 cities and in twelve important regional centres.While investors benefit from solid albeit high-priced investment opportunities,the situation for those seeking housing remains tense.Following a sharp increase in con-struction and financing costs,new construction has been lacking momentum for several