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Young, hip, and affordable

According to an analysis by immowelt.de City of Chemnitz ranks among the new attractive German cities and scores with very favorable leases

Young people are drawn into medium-sized cities in the east and south with universities, modern job offers, a diverse cultural program and affordable leases. This was the finding of a current analysis of the real estate portal immowelt.de on so-called “swarm cities” in Germany. Those cities are favored by young people who – symbolically – rise together and settle down like a swarm.

The most affordable new swarm city is Chemnitz with 5 € rent a square, followed by Magdeburg (5,80 EUR) and Schwerin (6,50 EUR). For comparison: the rent per square meter in all Germany is on average 7,30 EUR. Bigger and established swarm cities, which are already favored by young people for a longer time period, are also significantly more expensive: Frankfurt (12,90 EUR), Freiburg (11,30 EUR), and Hamburg (11,30 EUR).

Background: Analysis of swarm cities

For the evaluation, the rent a square of 39 German university cities were investigated. The rental rates of 182,530 advertised offers on immowelt.de were compared. These rates provide the median for rent not including utilities of new apartments. The data on the determination of swarm cities are taken from the research institute “Empirica”.

(Translation: Alissa Hölzel)

Matthias Fejes
07.03.2018

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