- Real estate analyst: Approximately 22,000 flats remain vacant in Munich
In bustling Munich, approximately 1,000 fresh residences should be constructed every month up until 2028, as suggested by the Pestel Institute. Presently, an analysis sponsored by the Federal Association of Building Materials Trade indicates a deficit of around 10,500 dwellings in the city's core, with more than 22,000 existing apartments lying vacant – equating to 2.7% of the city's overall housing inventory.
Despite the vacancies, there's a requirement for a surplus of over 3% to cater to relocations and renovations. Many homeowners shy away from renovation efforts due to financial constraints or uncertainties, such as those surrounding environmental regulations. Controversies over inheritances commonly result in apartments remaining unoccupied as well. In fact, one-third of these vacant units have been empty for a year or more.
Katharina Metzger, head of the Building Materials Trade Association, urges for less stringent building standards. "This administration will continue to overlook social housing," she remarks. "If you guarantee 400,000 new dwellings – inclusive of 100,000 new social housing units – during your election propagation and incorporate it into the coalition agreement, you shouldn't feel the need to revisit the matter just a year before the following federal election."
The 'City of millions' is facing a housing shortage, with an estimated deficit of 10,500 dwellings in the city center and over 22,000 vacant apartments, accounting for 2.7% of the total inventory. Despite these vacancies, there's a requirement for a surplus of housing to accommodate relocations and renovations, especially in the 'City of millions'.
