A new index shows where asking rents are increasing particularly strongly - and where those looking for accommodation can still live comparatively cheaply.
The IfW's Greix rental price index shows that rental price developments in 37 German cities and regions drifted significantly apart in the third quarter.
Asking rents in Hamburg rose by 6.7 percent within a year, in Düsseldorf and Cologne by 5.4 percent each, while Berlin only rose by 1.4 percent.
Munich has the highest rental price level with 23.70 euros per square meter, while Chemnitz has the lowest with an average of 6.30 euros per square meter.
Existing apartments rose in price nationwide by 3.7 percent, new apartments only increased by 3.3 percent and remain advertised for longer.
Frankfurt. The rental price development in Germany's metropolises is drifting apart. While the increase in asking rents has recently accelerated significantly in some large cities, there is a surprisingly moderate development in other cities.
This emerges from the Greix rental price index published on Thursday by the Kiel Institute for the World Economy (IfW), for which real estate offers in 37 German cities and regions were evaluated.
Nationwide, asking rents rose by 1.2 percent in the third quarter of 2026 compared to the previous quarter. Compared to the previous year, the increase is 3.7 percent. “After the annual rate hovered around the three percent mark for two quarters, the rental price dynamics are now increasing slightly again,” says Jonas Zdrzalek, the responsible real estate expert in Kiel.
Hamburg and Düsseldorf with the largest increases
Rental apartments rose particularly sharply in price within a year in Hamburg. Asking rents there rose by 6.7 percent. This is followed by Düsseldorf and Cologne with 5.4 percent each. Munich also recorded an above-average increase of 4.8 percent.
The development in Berlin looks significantly different. The asking rents there are only 1.4 percent above the previous year's level. In the first half of the year they were even lower than a year earlier. Stuttgart and Leipzig also recorded comparatively moderate growth of 1.9 percent each.
In a short-term comparison, however, there are signs of a turnaround in Berlin in particular: compared to the second quarter, asking rents rose by 2.1 percent - more than in any other of the eight metropolises. In Düsseldorf the increase was two percent. In Cologne, however, rents have recently stagnated.
Where tenants pay the most
Munich continues to have the highest rental price level. Landlords there charge an average of 23.70 euros in basic rent per square meter for new rentals. For an 80 square meter apartment, this corresponds to 1,896 euros per month. In Frankfurt, an average of 17.90 euros per square meter is charged, in Hamburg 16.50 euros. Leipzig remains comparatively cheap at 10.40 euros.
Another development is likely to be of particular interest to those looking for an apartment: the asking rents for existing apartments are now rising faster than those for new buildings. While existing apartments nationwide rose in price by 3.7 percent within a year, the increase in new construction was only 3.3 percent.
One reason could be the tenants' limited willingness to pay. Newly built apartments in the eight largest cities now remain advertised for an average of 14 days longer than existing apartments. However, for those looking for an apartment, this does not automatically mean cheaper new apartments. Rather, the chances of price negotiations could improve with particularly expensive offers.
Big differences even outside of the metropolises
Developments are different not only in the largest cities. Asking rents rose particularly sharply within a year in Bochum with 6.3 percent, Augsburg with 5.6 percent and Mannheim with five percent.
Apartment seekers find the cheapest rents among the cities examined in Chemnitz with an average of 6.30 euros per square meter, followed by Gelsenkirchen with 7.70 euros and Duisburg and Hamm with 8.60 euros each.
However, it is crucial for tenants to classify the numbers correctly: the index records quoted rents, not the rents in existing contracts. Anyone who has lived in their apartment for years often pays significantly less than someone who signs a new rental agreement today. This is precisely why the development particularly affects people who have to move because of a job change or to start a family.
