They only construct the super luxurious condominiums. The reality is that for decades less new houses have been built than needed. And the gap was only widening with the years.
Prices now are decreasing because of the higher interest rates and the high inflation, so the majority of the people have even less disposable income at the end of the month. So they didn’t get any cheaper for regular people.
In Munich, the average rent for a single studio apartment is north of 1.000€, I would even say more like 1.200€, while the average salary is like 2.700-3.000€. A three room flat in the city would probably cost around 800K, and then you need to pay 6-7% administrative fees on top of it. You can make the calculation yourself how affordable flats in Germany are and who can actually buy them, especially in big cities.
Good. Hopefully this helps the working class to finally own their own homes en masse for the first time in a generation.
I’m not holding my breath though. Capitalists will find a way to crush the workers under their boot as always.
Nothing was solved regarding home supply. In fact, the opposite happened. No new construction is ongoing.
Once their economy recovers, prices will again rise.
oh, construction is happening here and there. But it’s basically all super expensive luxury apartments
They only construct the super luxurious condominiums. The reality is that for decades less new houses have been built than needed. And the gap was only widening with the years.
Prices now are decreasing because of the higher interest rates and the high inflation, so the majority of the people have even less disposable income at the end of the month. So they didn’t get any cheaper for regular people.
In Munich, the average rent for a single studio apartment is north of 1.000€, I would even say more like 1.200€, while the average salary is like 2.700-3.000€. A three room flat in the city would probably cost around 800K, and then you need to pay 6-7% administrative fees on top of it. You can make the calculation yourself how affordable flats in Germany are and who can actually buy them, especially in big cities.