Munich. The housing market is shrinking so threateningly, that will it change life in Munich. This is the conclusion of a new study that has interviewed experts from 23 real estate companies and cooperatives in Munich, reports tz. The number of affordable housing will shrink dangerously in the coming years, says the report. More and more low-income Munich citizens have to compete for a good place to stay.

 

The rich are pushing out the poor from the center. The consequences are bigger commuting distances and further increases in rents in the city and surrounding areas.  Munich could then spread over to the neighboring counties up to Landsberg am Lech and can cause an explosion in rents there. The implications go far beyond the housing market.

Experts were able to describe the housing situation on a scale from 1 ( "very relaxed" rate) to 5 ( "very tense"). The respondents have assessed the current situation with up to 4.0 points. Already in two years, the experts predict further increases of up to 0.5 points. "Over the next few years, the tension will increase slightly in the housing market despite the already high levels," says the report. It has not been as bad for many years. A possible solution could be a massive housing construction project, for which the city lacks not only the money and the investors - but simply the space. The city will become tighter and thus the financial accounts of Munich citizens and residents in urban areas are becoming increasingly tight as well.