Immobilien: Mietsteigerung: In diesen Großstädten wird es besonders teuer – Regional unterscheidet sich Entwicklung deutlich

Long-term tenants in Germany continue to face rising rental costs, with nationwide increases of 3.5% for new rental contracts in the third quarter of 2026 compared to the same period last year, according to the Verband deutscher Pfandbriefbanken (VDP). This trend underscores the growing disconnect between the rental and property purchase markets, with rising financing costs impeding new home construction and purchases while high demand for apartments sustains pressure on the rental market.

Experts attribute this disconnect primarily to persistent housing shortages, particularly in affluent metropolitan areas. In Berlin, Düsseldorf, Frankfurt, Hamburg, Cologne, Munich, and Stuttgart, new rental contracts saw average increases of 3% in the third quarter over the previous year, slightly below the national average. However, regional disparities are evident, with Hamburg experiencing the steepest rise at 4.1% over the course of a year, while Stuttgart saw the smallest increase at 1.4%.

Despite the slower growth in rental prices compared to the national average in major cities, many urban areas still exceed the national average. Rising financing costs hinder new building and property purchases, prompting many households intending to purchase a home to remain in the rental market longer. This, in turn, intensifies competition for available apartments.

The divergence in the rental and purchase markets can be attributed to several factors, with housing shortages being a primary driver, especially in economically strong urban clusters where demand outpaces available supply. Meanwhile, increased financing costs complicate new property construction and acquisition, leading some households to remain in the rental sector.

Nevertheless, the rising cost of building permits has significantly slowed price movements in the purchase market, even in the seven largest German real estate metropolises. While property prices in Berlin, Düsseldorf, Frankfurt, Hamburg, Cologne, Munich, and Stuttgart rose by an average of 1.4% in the third quarter 2026 compared to the previous year, slightly higher than the national average, regional differences were notable.

Hamburg saw the steepest increase at 2.4%, followed by Frankfurt at 1.6% and Cologne at 1.4%. In contrast, Stuttgart's property prices dropped by 0.5% compared to the previous year. The latest short-term trend shows property prices falling in all seven metropolises, ranging from 0.4% in Düsseldorf to 0.9% in Stuttgart, signaling a recent slowdown in the recovery of property prices.