While a shared room for students in Germany cost about €391 in 2021, the rent has increased by almost six per cent to €414 at the beginning of this year, research by the Moses Mendelssohn Institute (MMI) in partnership with real estate portal, WG-gestucht.de, has revealed.
The reason for 2021’s pricing was the COVID-19 price-damping effect, and a surge in prices is expected in the upcoming months, as the research’s authors claimed, SchengenVisaInfo.com reports.
“There are many indications that this is just the beginning of a significant wave of price increases in student housing, reinforced by rising energy prices, which are having a disproportionate effect here.” the Managing Director of the MMI, Stefan Brauckmann, stated.
Director Brauckmann also pointed out that prices are expected to increase, especially in September and at the start of the winter semester.
The research examined 25,000 housing offers at 97 higher education institutions and 5,000 students in the German country.
Moreover, the same revealed that students in the East pay the least for shared accommodation, whereas prices for other cities, for example, Munich (€680 per month) followed by Frankfurt (€550) and Hamburg and Berlin (€500 each), Are the most expensive cities, with Stuttgart ranked fifth with €490 average price for rentals per month.
At the end of January, the cheapest shared rooms were recorded in Cottbus (€230), Freiberg, Mittweida and Chemnitz (€256) and Wismar (€270), which are located in the eastern region of the country.
In addition, prices in traditional university towns have surged, with shared accommodation in Freiburg costing €464, €450 in Heidelberg and €445 in Tübingen. The price in Münster, the Western German city, for shared rooms is approximately €395.
Brauckmann also emphasized that the price of shared rooms will be on the rise as the demand for shared accommodation increases.
“The demand for accommodation in a convenient location to the university is increasing”, The Director stressed, also saying that many students that postponed move during the pandemic and would certainly do so “in view of the forseeable relaxation of the Coronavirus.”
A report from the European Travel Council (ETC) shows that the accommodation rates across the 27-nation-bloc have increased by 10.5 per cent, showing positive trends in the industry after being damaged from the pandemic.
ETC data reveals that EU countries with the least occupancy in 2021 were Czechia (-68.7 per cent), Slovakia (-67.2 per cent), Hungary (-59.9 per cent) and Ireland (-57.7 per cent). Moreover, the countries with the most bookings at hotels and other accommodation facilities were Serbia (-4.7 per cent), Bulgaria (-5.9 per cent), and Turkey (-6.4 per cent).