• Germany: average rent price of residential property, by city Q1 2020

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In the first quarter of 2020, the average rent in Munich was approximately 17.76 euros per square meter. This was a decrease from the 18.16 euros reached in the previous quarter. But how does renting compare to buying? According to the house price to rent ratio, renting in Germany is much more affordable.

Affordability of housing

In the third quarter of 2019, Germany ranked sixth with house price to income ratio of 114.9. The indicator compares the affordability of housing across European countries and is calculated as the nominal house prices divided by nominal disposable income per head. A ratio higher than 100 means that the nominal house price is higher than the nominal disposable income per head, and housing is therefore comparatively more affordable.

Housing in Munich

Just as with renting, Munich was the most expensive city for newly built apartments. In the first half of 2019, the cost per square meter in Munich was almost two thousand euros higher than in the runner-up city Frankfurt.