German Student Rents Soar Beyond Inflation, Leaving Many Struggling
Rents in Germany's major cities are soaring far beyond inflation, leaving students struggling to afford accommodation. A 30-square-meter apartment in Frankfurt now costs over 730 euros, a stark contrast to the 30 marks paid by students in the 1950s.
In Frankfurt, a 30-square-meter apartment currently ranges from 790 to 835 euros in cold rent, according to recent offers. This significant increase is driven by high demand for modern and newly built apartments, which can command premiums of over 2,500 euros per square meter compared to existing properties. Despite this surge, the BAföG housing allowance remains at 380 euros, sufficient only in cities like Bochum, Magdeburg, and Chemnitz. Munich, known for its high rents, offers even less affordable student housing.
Two-thirds of students today spend over 30% of their net income on housing, highlighting the affordability crisis. Students from low-income families face particular challenges when choosing a study location. The BAföG housing allowance, however, has not kept pace with real price increases, exacerbating the issue.
With rents rising far beyond inflation, students across Germany are grappling with housing affordability. The BAföG housing allowance, stagnant despite increasing prices, leaves many students struggling to find suitable accommodation. Addressing this issue is crucial to ensure equal access to education for all students, regardless of their financial background.
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