Take a Seat: 20% Fewer Apartments in Thuringia for Renting in 2024
Scanty supply of rental apartments in Thuringia: Less than one-sixth available for occupancy - Roughly two out of every ten properties in Thuringia are available for immediate residency.
Hey there! Let's dive into some interesting housing statistics for the vibrant state of Thuringia, shall we?
In the bustling city of Erfurt, the State Statistical Office reported a significant drop in the number of apartments ready for occupancy last year compared to 2023. The grand total came to 3,310 brand-new apartments in 2024, a stark decrease of 19.7% and 813 fewer apartments than the previous year!
You might be curious about where these new apartments were built, right? Well, a majority were constructed as new buildings, while 683 apartments were created through renovations or extensions of existing buildings.
Now, for those of you thinking about settling down and owning a house in Thuringia, there's some not-so-great news. The number of new single-family homes completed last year dropped by a whopping 26.2% compared to 2023, totaling around 1,000 homes—quite a hit!
Interested in the squeezing the details about who's building these apartments? Here's a little insight: Around 54.6% of newly built apartments were constructed under private builders, followed by companies accounting for 25% of the construction. Tidbit: Public builders, such as municipalities, the federal government, and the state, only accounted for a meager 0.8% of the newly built apartments in 2024 (ouch!). For comparison, public builders were responsible for 9% of the apartments completed in 2023.
Wondering what the construction costs look like? As of my last update, specific construction costs for apartments and single-family homes in Thuringia aren't readily available online. But don't worry, here are some general insights:
- Construction Activity: Construction output in Germany, including regions like Saxony and Thuringia, has witnessed an increase in the first two months of 2025 compared to the fourth quarter of 2024, largely due to the finishing trades.
- General Construction Costs: Construction costs vary greatly depending on factors like location, materials, and labor. Keep in mind that factors like material prices and labor availability have influenced construction costs in Germany.
- Climate and Energy Initiatives: The German government is promoting climate-friendly construction through initiatives like funding programs for bio-based building materials and energy-efficient buildings. These initiatives may impact construction costs by promoting more sustainable but potentially more expensive materials and practices.
For precise construction costs, I'd recommend contacting local construction companies or industry reports specific to Thuringia, as these can offer detailed estimates based on current market conditions and local regulations. Have a fabulous day, and happy house-hunting!
In light of the reduced number of apartments for renting in Thuringia, it might be relevant to review the community policy regarding housing, particularly tenant protections and affordable housing initiatives. Furthermore, potential investors potentially interested in real-estate opportunities in Thuringia may want to delve deeper into the employment policy, considering its potential impact on the demand for rental properties and housing prices.
