Zahlen & Daten Facts & Figures 2014 Residential Market Report Germany
Facts & Figues Table of Contents 1. Introduction... 6 2. Summary... 7 3. The Residential Property Market in the Federal Republic of Germany 2014... 9 3.1. Economic framework... 10 3.1.1. CPI and GDP... 10 3.1.2. Employment and unemployment... 10 3.1.3. Purchasing power... 12 3.2. Population and households... 16 3.2.1. Population trend... 16 3.2.2. Population structure... 17 3.2.3. Households... 17 3.3. Housing development... 21 3.3.1. Housing stocks... 21 3.3.2. Housing structure... 21 3.3.3. Vacancies... 23 3.3.4. Residential building completions... 26 3.3.5. Housing demand... 27 3.4. Supply structure on the German housing market... 30 3.4.1. Division of housing stocks... 30 3.4.2. Germany, a rental market... 31 3.5. Rents and prices... 32 3.5.1. Pan-German overview... 32 3.5.2. Property bubble yes or no?... 33 3.5.3. Rent increase cap will it bring the hoped-for change?... 33 3.5.4. Rent and price development in Germany s metropolitan areas... 34 3.6. Transaction market for residential portfolios... 41 3.6.1. Market situation... 41 3.6.2. Regional distribution... 42 3.6.3. Origin of investors... 42 3.6.4. Type of investors... 42 4. City-Attractiveness-Ranking - StAR... 45 4.1. Overview... 46 4.2. Methodology... 46 4.3. Status Quo... 47 4.4. Market development... 48 4.5. Image premium... 49 4.6. Overall ranking... 49 5. German Metropolises In Brief... 53 5.1. Berlin... 54 5.2. Cologne... 64 5.3. Dortmund... 72 5.4. Dresden... 80 5.5. Düsseldorf... 88 5.6. Essen... 96 5.7. Frankfurt am Main... 104 5.8. Hamburg... 112 5.9. Leipzig... 120 5.10. Munich... 128 5.11. Stuttgart... 136 6. Supply and Demand in German Urban and Rural Districts... 145 7. s In Brief... 155 page 5
Facts & Figures Stuttgart 6. Supply and Demand in German Urban and Rural Districts page 145
Facts & Figures districts The following figure provides an overview over central criteria for the estimation of supply and demand on the German residential property market. Information is displayed on the level of s, districts and urban municipalities. This data has to be treated as description rather than appraisal of the current situation compared to the German average. The data is scaled according to the following colour scheme: Current situation or development is significantly above the German average Current situation or development is above the German average Current situation or development is below the German average Current situation or development is significantly below the German average The following indicators were used: Indicator German average Purchasing power (index 2014) 100 > (Ø +10%) > Ø < Ø < (Ø -10%) (as of 04/2014) 6.8% < (Ø -10%) < Ø > Ø > (Ø +10%) (rate. as of 2012) (2011 Dez 2012*) (2010 2011) (May 2011*) 69.03% > (Ø +10%) > Ø < Ø < (Ø -10%) +0.24% > (Ø +10%) > Ø < (Ø bis 0%) < 0% +0.27% > (Ø +10%) > Ø < (Ø bis 0%) < 0% 1.069 < (Ø -10%) < Ø > Ø > (Ø +10%) (2011) 42.111 m² < (Ø -10%) < Ø > Ø > (Ø +10%) Residential unit completion volume compared to residential property stock (May 2011*) Residential unit permissions compared to residential property stock (May 2011*) (Quote May 2011*) Residential units per residential property (May 2011*) 0.459 > (Ø +10%) > Ø < Ø < (Ø -10%) 0.568 > (Ø +10%) > Ø < Ø < (Ø -10%) 4.4% < (Ø -10%) < Ø > Ø > (Ø +10%) 2.202 > (Ø +10%) > Ø < Ø < (Ø -10%) Sources: Federal Statistical Office. State Statistical Offices. Federal Employment Agency. GfK GeoMarketing GmbH. *Census 2011 - updated 2014 page 146
Facts & Figures districts Hamburg Hamburg Hamburg Hamburg District Status Lower Saxony Lower Saxony Braunschweig Lower Saxony District Status Salzgitter Lower Saxony District Status Wolfsburg Lower Saxony District Status Gifhorn Lower Saxony District Göttingen Lower Saxony District Goslar Lower Saxony District Helmstedt Lower Saxony District Northeim Lower Saxony District Osterode am Harz Lower Saxony District Peine Lower Saxony District Wolfenbüttel Lower Saxony District Region Hanover Lower Saxony Region Diepholz Lower Saxony District Hameln-Pyrmont Lower Saxony District Hildesheim Lower Saxony District Holzminden Lower Saxony District Nienburg (Weser) Lower Saxony District Schaumburg Lower Saxony District Celle Lower Saxony District Cuxhaven Lower Saxony District Harburg Lower Saxony District Lüchow-Dannenberg Lower Saxony District Lüneburg Lower Saxony District Osterholz Lower Saxony District Rotenburg (Wümme) Lower Saxony District Soltau-Fallingbostel Lower Saxony District Stade Lower Saxony District Uelzen Lower Saxony District Verden Lower Saxony District Delmenhorst Lower Saxony District Status Emden Lower Saxony District Status Oldenburg (Oldenburg) Lower Saxony District Status Osnabrück Lower Saxony District Status Wilhelmshaven Lower Saxony District Status Ammerland Lower Saxony District Aurich Lower Saxony District Cloppenburg Lower Saxony District Emsland Lower Saxony District Friesland Lower Saxony District Grafschaft Bentheim Lower Saxony District Leer Lower Saxony District Oldenburg Lower Saxony District Osnabrück Lower Saxony District Vechta Lower Saxony District Wesermarsch Lower Saxony District Wittmund Lower Saxony District Bremen Bremen Bremen Bremen District Status Bremerhaven Bremen District Status North Rhine-Westphalia North Rhine-Westphalia Düsseldorf North Rhine-Westphalia District Status Duisburg North Rhine-Westphalia District Status Essen North Rhine-Westphalia District Status Krefeld North Rhine-Westphalia District Status Mönchengladbach North Rhine-Westphalia District Status Mülheim an der Ruhr North Rhine-Westphalia District Status Oberhausen North Rhine-Westphalia District Status Remscheid North Rhine-Westphalia District Status Solingen North Rhine-Westphalia District Status Wuppertal North Rhine-Westphalia District Status Kleve North Rhine-Westphalia District Mettmann North Rhine-Westphalia District Rhein-Kreis Neuss North Rhine-Westphalia District Viersen North Rhine-Westphalia District Wesel North Rhine-Westphalia District page 147
page 148 Bonn North Rhine-Westphalia District Status Cologne North Rhine-Westphalia District Status Leverkusen North Rhine-Westphalia District Status Aachen North Rhine-Westphalia Region Düren North Rhine-Westphalia District Rhein-Erft-Kreis North Rhine-Westphalia District Euskirchen North Rhine-Westphalia District Heinsberg North Rhine-Westphalia District Oberbergischer Kreis North Rhine-Westphalia District Rheinisch-Bergischer Kreis North Rhine-Westphalia District Rhein-Sieg-Kreis North Rhine-Westphalia District Bottrop North Rhine-Westphalia District Status Gelsenkirchen North Rhine-Westphalia District Status Münster North Rhine-Westphalia District Status Borken North Rhine-Westphalia District Coesfeld North Rhine-Westphalia District Recklinghausen North Rhine-Westphalia District Steinfurt North Rhine-Westphalia District Warendorf North Rhine-Westphalia District Bielefeld North Rhine-Westphalia District Status Gütersloh North Rhine-Westphalia District Herford North Rhine-Westphalia District Höxter North Rhine-Westphalia District Lippe North Rhine-Westphalia District Minden-Lübbecke North Rhine-Westphalia District Paderborn North Rhine-Westphalia District Bochum North Rhine-Westphalia District Status Dortmund North Rhine-Westphalia District Status Hagen North Rhine-Westphalia District Status Hamm North Rhine-Westphalia District Status Herne North Rhine-Westphalia District Status Ennepe-Ruhr-Kreis North Rhine-Westphalia District Hochsauerlandkreis North Rhine-Westphalia District Märkischer Kreis North Rhine-Westphalia District Olpe North Rhine-Westphalia District Siegen-Wittgenstein North Rhine-Westphalia District Soest North Rhine-Westphalia District Unna North Rhine-Westphalia District Hesse Hesse Darmstadt Hesse District Status Frankfurt am Main Hesse District Status Offenbach am Main Hesse District Status Wiesbaden Hesse District Status Bergstraße Hesse District Darmstadt-Dieburg Hesse District Groß-Gerau Hesse District Hochtaunuskreis Hesse District Main-Kinzig-Kreis Hesse District Main-Taunus-Kreis Hesse District Odenwaldkreis Hesse District Offenbach Hesse District Rheingau-Taunus-Kreis Hesse District Wetteraukreis Hesse District Gießen Hesse District Lahn-Dill-Kreis Hesse District Limburg-Weilburg Hesse District Marburg-Biedenkopf Hesse District Vogelsbergkreis Hesse District Kassel, documenta-stadt Hesse District Status Fulda Hesse District Hersfeld-Rotenburg Hesse District Kassel Hesse District Schwalm-Eder-Kreis Hesse District Waldeck-Frankenberg Hesse District Werra-Meißner-Kreis Hesse District Rhineland-Palatinate Rhineland-Palatinate Koblenz Rhineland-Palatinate District Status Ahrweiler Rhineland-Palatinate District Facts & Figures districts
Facts & Figures districts Altenkirchen (Westerwald) Rhineland-Palatinate District Bad Kreuznach Rhineland-Palatinate District Birkenfeld Rhineland-Palatinate District Cochem-Zell Rhineland-Palatinate District Mayen-Koblenz Rhineland-Palatinate District Neuwied Rhineland-Palatinate District Rhein-Hunsrück-Kreis Rhineland-Palatinate District Rhein-Lahn-Kreis Rhineland-Palatinate District Westerwaldkreis Rhineland-Palatinate District Trier Rhineland-Palatinate District Status Bernkastel-Wittlich Rhineland-Palatinate District Eifelkreis Bitburg-Prüm Rhineland-Palatinate District Vulkaneifel Rhineland-Palatinate District Trier-Saarburg Rhineland-Palatinate District Frankenthal (Pfalz) Rhineland-Palatinate District Status Kaiserslautern Rhineland-Palatinate District Status Landau in der Pfalz Rhineland-Palatinate District Status Ludwigshafen am Rhein Rhineland-Palatinate District Status Mainz Rhineland-Palatinate District Status Neustadt an der Weinstraße Rhineland-Palatinate District Status Pirmasens Rhineland-Palatinate District Status Speyer Rhineland-Palatinate District Status Worms Rhineland-Palatinate District Status Zweibrücken Rhineland-Palatinate District Status Alzey-Worms Rhineland-Palatinate District Bad Dürkheim Rhineland-Palatinate District Donnersbergkreis Rhineland-Palatinate District Germersheim Rhineland-Palatinate District Kaiserslautern Rhineland-Palatinate District Kusel Rhineland-Palatinate District Südliche Weinstraße Rhineland-Palatinate District Rhein-Pfalz-Kreis Rhineland-Palatinate District Mainz-Bingen Rhineland-Palatinate District Südwestpfalz Rhineland-Palatinate District Baden-Wurttemberg Baden-Wurttemberg Stuttgart Baden-Wurttemberg District Status Böblingen Baden-Wurttemberg District Esslingen Baden-Wurttemberg District Göppingen Baden-Wurttemberg District Ludwigsburg Baden-Wurttemberg District Rems-Murr-Kreis Baden-Wurttemberg District Heilbronn Baden-Wurttemberg District Status Heilbronn Baden-Wurttemberg District Hohenlohekreis Baden-Wurttemberg District Schwäbisch Hall Baden-Wurttemberg District Main-Tauber-Kreis Baden-Wurttemberg District Heidenheim Baden-Wurttemberg District Ostalbkreis Baden-Wurttemberg District Baden-Baden Baden-Wurttemberg District Status Karlsruhe Baden-Wurttemberg District Status Karlsruhe Baden-Wurttemberg District Rastatt Baden-Wurttemberg District Heidelberg Baden-Wurttemberg District Status Mannheim Baden-Wurttemberg District Status Neckar-Odenwald-Kreis Baden-Wurttemberg District Rhein-Neckar-Kreis Baden-Wurttemberg District Pforzheim Baden-Wurttemberg District Status Calw Baden-Wurttemberg District Enzkreis Baden-Wurttemberg District Freudenstadt Baden-Wurttemberg District Freiburg im Breisgau Baden-Wurttemberg District Status Breisgau-Hochschwarzwald Baden-Wurttemberg District Emmendingen Baden-Wurttemberg District Ortenaukreis Baden-Wurttemberg District Rottweil Baden-Wurttemberg District Schwarzwald-Baar-Kreis Baden-Wurttemberg District Tuttlingen Baden-Wurttemberg District Konstanz Baden-Wurttemberg District page 149
page 150 Lörrach Baden-Wurttemberg District Waldshut Baden-Wurttemberg District Reutlingen Baden-Wurttemberg District Tübingen Baden-Wurttemberg District Zollernalbkreis Baden-Wurttemberg District Ulm Baden-Wurttemberg District Status Alb-Donau-Kreis Baden-Wurttemberg District Biberach Baden-Wurttemberg District Bodenseekreis Baden-Wurttemberg District Ravensburg Baden-Wurttemberg District Sigmaringen Baden-Wurttemberg District Bavaria Bavaria Ingolstadt Bavaria District Status Munich Bavaria District Status Rosenheim Bavaria District Status Altötting Bavaria District Berchtesgadener Land Bavaria District Bad Tölz-Wolfratshausen Bavaria District Dachau Bavaria District Ebersberg Bavaria District Eichstätt Bavaria District Erding Bavaria District Freising Bavaria District Fürstenfeldbruck Bavaria District Garmisch-Partenkirchen Bavaria District Landsberg am Lech Bavaria District Miesbach Bavaria District Mühldorf a.inn Bavaria District Munich Bavaria District Neuburg-Schrobenhausen Bavaria District Pfaffenhofen a.d.ilm Bavaria District Rosenheim Bavaria District Starnberg Bavaria District Traunstein Bavaria District Weilheim-Schongau Bavaria District Landshut Bavaria District Status Passau Bavaria District Status Straubing Bavaria District Status Deggendorf Bavaria District Freyung-Grafenau Bavaria District Kelheim Bavaria District Landshut Bavaria District Passau Bavaria District Regen Bavaria District Rottal-Inn Bavaria District Straubing-Bogen Bavaria District Dingolfing-Landau Bavaria District Amberg Bavaria District Status Regensburg Bavaria District Status Weiden i.d.opf. Bavaria District Status Amberg-Sulzbach Bavaria District Cham Bavaria District Neumarkt i.d.opf. Bavaria District Neustadt a.d.waldnaab Bavaria District Regensburg Bavaria District Schwandorf Bavaria District Tirschenreuth Bavaria District Bamberg Bavaria District Status Bayreuth Bavaria District Status Coburg Bavaria District Status Hof Bavaria District Status Bamberg Bavaria District Bayreuth Bavaria District Coburg Bavaria District Forchheim Bavaria District Hof Bavaria District Kronach Bavaria District Kulmbach Bavaria District Facts & Figures districts
Facts & Figures districts Lichtenfels Bavaria District Wunsiedel i.fichtelgebirge Bavaria District Ansbach Bavaria District Status Erlangen Bavaria District Status Fürth Bavaria District Status Nürnberg Bavaria District Status Schwabach Bavaria District Status Ansbach Bavaria District Erlangen-Höchstadt Bavaria District Fürth Bavaria District Nürnberger Land Bavaria District Neustadt a.d.aisch-bad Windsheim Bavaria District Roth Bavaria District Weißenburg-Gunzenhausen Bavaria District Aschaffenburg Bavaria District Status Schweinfurt Bavaria District Status Würzburg Bavaria District Status Aschaffenburg Bavaria District Bad Kissingen Bavaria District Rhön-Grabfeld Bavaria District Haßberge Bavaria District Kitzingen Bavaria District Miltenberg Bavaria District Main-Spessart Bavaria District Schweinfurt Bavaria District Würzburg Bavaria District Augsburg Bavaria District Status Kaufbeuren Bavaria District Status Kempten (Allgäu) Bavaria District Status Memmingen Bavaria District Status Aichach-Friedberg Bavaria District Augsburg Bavaria District Dillingen a.d.donau Bavaria District Günzburg Bavaria District Neu-Ulm Bavaria District Lindau (Bodensee) Bavaria District Ostallgäu Bavaria District Unterallgäu Bavaria District Donau-Ries Bavaria District Oberallgäu Bavaria District Saarland Saarland Region Saarbrücken Saarland Region Merzig-Wadern Saarland District Neunkirchen Saarland District Saarlouis Saarland District Saarpfalz-Kreis Saarland District St. Wendel Saarland District Berlin Berlin Berlin Berlin District Status Brandenburg Brandenburg Brandenburg an der Havel Brandenburg District Status Cottbus Brandenburg District Status Frankfurt (Oder) Brandenburg District Status Potsdam Brandenburg District Status Barnim Brandenburg District Dahme-Spreewald Brandenburg District Elbe-Elster Brandenburg District Havelland Brandenburg District Märkisch-Oderland Brandenburg District Oberhavel Brandenburg District Oberspreewald-Lausitz Brandenburg District Oder-Spree Brandenburg District Ostprignitz-Ruppin Brandenburg District Potsdam-Mittelmark Brandenburg District Prignitz Brandenburg District Spree-Neiße Brandenburg District Teltow-Fläming Brandenburg District Uckermark Brandenburg District page 151
Mecklenburg-West Pomerania Mecklenburg-West Pomerania Rostock Mecklenburg-West Pomerania District Status Schwerin Mecklenburg-West Pomerania District Status Mecklenburgische Seenplatte Mecklenburg-West Pomerania District Rostock, Landkreis Mecklenburg-West Pomerania District Vorpommern-Rügen Mecklenburg-West Pomerania District Nordwestmecklenburg Mecklenburg-West Pomerania District Vorpommern-Greifswald Mecklenburg-West Pomerania District Ludwigslust-Parchim Mecklenburg-West Pomerania District Saxony Saxony Chemnitz Saxony District Status Erzgebirgskreis Saxony District Mittelsachsen Saxony District Vogtlandkreis Saxony District Zwickau Saxony District Dresden Saxony District Status Bautzen Saxony District Görlitz Saxony District Meißen Saxony District Sächsische Schweiz-Osterzgebirge Saxony District Leipzig Saxony District Status Leipzig Saxony District Nordsachsen Saxony District Saxony-Anhalt Saxony-Anhalt Dessau-Roßlau Saxony-Anhalt District Status Halle (Saale) Saxony-Anhalt District Status Magdeburg Saxony-Anhalt District Status Altmarkkreis Salzwedel Saxony-Anhalt District Anhalt-Bitterfeld Saxony-Anhalt District Börde Saxony-Anhalt District Burgenlandkreis Saxony-Anhalt District Harz Saxony-Anhalt District Jerichower Land Saxony-Anhalt District Mansfeld-Südharz Saxony-Anhalt District Saalekreis Saxony-Anhalt District Salzlandkreis Saxony-Anhalt District Stendal Saxony-Anhalt District Wittenberg Saxony-Anhalt District Thuringia Thuringia Erfurt Thuringia District Status Gera Thuringia District Status Jena Thuringia District Status Suhl Thuringia District Status Weimar Thuringia District Status Eisenach Thuringia District Status Eichsfeld Thuringia District Nordhausen Thuringia District Wartburgkreis Thuringia District Unstrut-Hainich-Kreis Thuringia District Kyffhäuserkreis Thuringia District Schmalkalden-Meiningen Thuringia District Gotha Thuringia District Sömmerda Thuringia District Hildburghausen Thuringia District Ilm-Kreis Thuringia District Weimarer Land Thuringia District Sonneberg Thuringia District Saalfeld-Rudolstadt Thuringia District Saale-Holzland-Kreis Thuringia District Saale-Orla-Kreis Thuringia District Greiz Thuringia District Altenburger Land Thuringia District Facts & Figures districts page 152
Facts & Figures districts Schleswig-Holstein Schleswig-Holstein Flensburg Schleswig-Holstein District Status Kiel Schleswig-Holstein District Status Lübeck Schleswig-Holstein District Status Neumünster Schleswig-Holstein District Status Dithmarschen Schleswig-Holstein District Herzogtum Lauenburg Schleswig-Holstein District Nordfriesland Schleswig-Holstein District Ostholstein Schleswig-Holstein District Pinneberg Schleswig-Holstein District Plön Schleswig-Holstein District Rendsburg-Eckernförde Schleswig-Holstein District Schleswig-Flensburg Schleswig-Holstein District Segeberg Schleswig-Holstein District Steinburg Schleswig-Holstein District Stormarn Schleswig-Holstein District page 153
Facts & Figures federal states Dr. Konrad Kanzler Head of Research +49 (0)69-970 505-614 konrad.kanzler@nai-apollo.de Stefan Mergen Managing Partner apollo valuation & research +49 (0)69-970 505-613 stefan.mergen@nai-apollo.de Our services Letting and sale Valuation Asset and property management Property accounting Building management Corporate Finance Research Our locations Berlin Düsseldorf Frankfurt am Main Hamburg Munich Stuttgart Ruhr area Copyright apollo valuation & research GmbH, 2014. This report is meant to serve for information purposes only. It was produced with utmost diligence and is based on information from sources that we consider reliable. However, we cannot warrant their accuracy, completeness and correctness. Assumptions, numbers and prognoses in this document shall serve as orientation only. This report does not pursue the goal to promote the sale or acquisition of certain financial assets and may thus not be understood as an offer to do so. It is the reader s responsibility to make his/her own judgment regarding correctness and completeness. apollo valuation & research GmbH will not accept liability for direct or indirect damages that result from inaccuracies, incompleteness or mistakes in this report. We reserve the right to make changes and/or additions to this report at any time. Neither the report, nor parts of it may be published, reproduced or forwarded without the prior written consent of apollo valuation & research GmbH. page 172 Eschersheimer Landstraße 49-60322 Frankfurt am Main Tel: +49 (0)69 970 50 50 - Fax: +49 (0)69 970 50 5666 Mail: info@nai-apollo.de www.nai-apollo.de