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Rental bargain! Where in Munich the lucky ones live

Rents are actually exploding in Munich. But even in the old town and in Bogenhausen there are people who don't even pay nine euros per square meter. | Christina HertelDon't rememberMark5 Comments1 - Recommend article

Munich - Even in expensive Munich there are still a few lucky ones. People who only pay 6.90 euros per square meter live in rags. But even in Munich's old town, not only bigwigs live in expensive lofts. There are a few apartments where the rent is only 8.76 euros per square meter.

VMW owns about 17 percent of the housing market

All of these people have one thing in common: their landlords belong to the Association of Munich Housing Companies (VMW). This is an amalgamation of more than 50 Munich housing companies. They include various cooperatives, but also the municipal housing associations. They own around 17 percent of the Munich housing market.

Together, as the VMW puts it, they are committed to "socially responsible apartment rental". The association has now presented its rent atlas. Conclusion: If all of Munich were included, many of the city's problems would be solved.

The average rent for members is 7.54 euros per square meter. This corresponds to about a third of the market rent. For a first-time occupancy, the price in Munich is € 20.37 net, according to VMW. Even when re-letting, the cost is 18.67 per square meter.

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"Additional rent brake in Munich"

"We are, so to speak, the additional rental price brake in Munich," says Klaus-Michael Dengler, chairman of VMW and managing director of Gewofag. Because even in high-priced areas like Bogenhausen there are rents with an average of 8.98 euros that are still affordable. Because rents otherwise explode in many corners of Munich, the city is investing a lot in residential construction.

Treasurer Christoph Frey (SPD) explained this at the presentation of the rent atlas: the city plans to spend 1.4 billion euros on residential construction by 2024. That is around 16 percent of all investments. A major cost factor: in districts in which the city has issued a conservation statute, it can use its right of first refusal. In 2020 she spent nearly 160 million to buy 296 apartments, according to Frey. But the city can no longer afford that in the long run.

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