According to a study carried out by the “Pestel Institute” 400,000 new units will be needed every year until 2020.
People need homes. So after looking at the population development it is a logical step to study the housing markets as well. Affordable housing is rare in Germany – especially in the big cities – reasonable housing is hard to find especially for people with no or low income.
Although Germany has about 39 million homes, there is a massive shortage of affordable rental housing. There are currently more than 100,000 apartments missing in the ten major German cities, which have the greatest housing shortage.
In the coming years, this situation is likely to get worse in view of increasing numbers of immigrants. In order to meet the demand 400,000 new apartments need to be created every year until 2020. This is the result of a forecast by the “Pestel Institute” who is specialized in urban development.