According to recent statistics from housing platform HousingAnywhere, rental costs in all of their key European student destinations rose in Q4 compared to the previous year. In Barcelona, Berlin, Brussels, Madrid, Milan, Rotterdam, and Vienna, the HousingAnywhere European Rent Index displays rental statistics from furnished private rooms, studios, and one-bedroom flats. The rise in rental prices is due to a growing shortage of available rental properties, increased competition among international students and young professionals for suitable housing, and the availability of more premium flats at higher costs. real estate companies qatar
Rental prices for single rooms, studios, and one-bedroom apartments rose in all areas in the fourth quarter of last year. The cities of Madrid, with a year-over-year increase of 6.27 percent, Barcelona, with an increase of 8.7 percent, and Vienna, with a total increase of only 0.68 percent, were the most notable for one-bedroom rental apartments. Madrid and Barcelona are still among the cities with the lowest overall rental prices, while Milan is among the highest, indicating that rental prices are leveling out across Europe, albeit the disparities remain significant. Vienna is an outlier in this regard, with relatively low rental prices and the lowest increase across Europe.
According to Djordy Seelmann, CEO of HousingAnywhere, "In several popular international locations, rental demand is currently outstripping availability. An increase in the number of international students and young professionals, many of whom are looking for similar housing, has resulted in a shortage of affordable housing for these groups. In these times, more coordination between supply and demand is required so that internationals may more readily find suitable accommodation and landlords may maximize the return on their investment. We've chosen to provide the HousingAnywhere European Rent Report on a quarterly basis to keep all parties informed about these trends."
Although new homes produced by property developers will help to fill some of the supply gaps in the coming years, it's extremely probable that shortages will persist in the most popular areas. Given the likelihood that rents will continue to rise, greater supply is required to avoid price bubbles that make it hard for students and young professionals to find suitable accommodation in central cities and near institutions.
"It's critical that cities take a long-term view of market developments and take action," Seelmann argues. "The increased demand for rooms, studios, and apartments can be fulfilled by creating more accommodation in major city districts. The market will then become more balanced, with enough and affordable housing available."