Ukraine War drastically drastically drasts rents in Germany

Price boost also in the country

Ukraine War drastically drastically drasts up

Rents rise to horrendous heights – and not just in the big cities. An analysis shows how deep the crisis is now enough.

Since Russia’s attack on Ukraine, living costs in Germany have changed noticeably – especially on the housing market. A current evaluation of the “Spiegel” based on data from the Empirica Research Institute shows that the offer rents for free apartments have increased by an average of 18.3 percent since the beginning of 2022. This not only continues the consequences of the war in energy and food, but also meet those seeking apartments with full force.

A central driver is the monetary policy of the European Central Bank (ECB). In order to combat the inflation, which has risen sharply as a result of the war, the ECB has increased the key interest rate several times since 2022. As a result, construction loans were also more expensive, so that many housing companies put their projects on hold. Since hardly any new apartments were created, no adequate range of new rental apartments could be created on the market.

In parallel to the stagnating range of housing, the demand for rental apartments has increased suddenly. Many who were originally still interested in buying a property turned to the rental market because they could no longer afford financing due to the increased interest rates. Over one million refugees Ukrainians have also come to Germany since 2022 and were looking for living space.

This sudden rush met an already tense market. Because hardly any new apartments were created and at the same time looking for significantly more people for a place to stay, rental prices attracted a lot in many places.

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The distance to the local comparison rent, which was only 7.21 euros in Berlin in 2024, is particularly striking. Berlin’s urban development senator Christian Gaebler therefore recently spoke of a “divided housing market”: While existing tenants often still live cheaply, newly now pay more than double.

According to “Spiegel”, this development cannot be explained solely with economic factors-geopolitical events such as the Ukraine War also significantly influence the rental level.

The increased rents lead to significant faults. Many people stay in their apartments, although they actually want to or should actually move. Couples cannot move in because they cannot find affordable new apartment. Conversely, separate couples often live together because a smaller apartment does not pay off for both.

Older people are also less likely to move into smaller apartments because rental costs destroy the expected savings effect. The result: the housing market comes to a standstill, removals decrease, free apartments become rare. In this context, the “Spiegel” speaks of a real “freezing” of the market.

The increase in rent is no longer limited to the big cities. The prices also skyrocket in rural circles and medium -sized cities. According to studies data, the district of Kaiserslautern, for example, recorded an increase of 41.7 percent, closely followed by Cottbus, Brandenburg an der Havel and the Tirschenreuth district in Bavaria with growth of over 30 percent.

The reason is usually not the attractiveness of these places, but a displacement effect: Many people can no longer afford life in the metropolises and evade into ever more distant regions. First the rents in the well -connected surrounding area, later also where a regional train runs every hour. In the meantime, this not only affects buyers, but also increases tenants.