Re:Why America's New Apartment Buildings All Look the Same
by ido on Thursday February 14, 2019 @01:45AM
(#19160094)
That's just because they started from a much lower base 10 years ago, there has been massive relative increases.
Also rents are controlled[1] so it can be a bit deceptive - they are cheap but if you go to a viewing for one of those units you will find yourself as one of 50-100 applicants. And if you want to buy your own flat those prices are not controlled.
Additionally, remember that salaries are a lot lower than in the US, and that at least in Berlin there have been ~10% YoY rise in real estate prices for 10 years now & even those (mostly-controlled) rents have increased 6-7% YoY every year for a decade.
Also rents are controlled[1] so it can be a bit deceptive - they are cheap but if you go to a viewing for one of those units you will find yourself as one of 50-100 applicants. And if you want to buy your own flat those prices are not controlled.
Additionally, remember that salaries are a lot lower than in the US, and that at least in Berlin there have been ~10% YoY rise in real estate prices for 10 years now & even those (mostly-controlled) rents have increased 6-7% YoY every year for a decade.
[1] https://www.thelocal.de/20180214/controversial-rent-control-...