German microapartment market grows by 85%
Cushman & Wakefield has reported that Germany’s microapartment sector was subject to €1.5 billion of transactions in 2018 — an 85 percent increase on 2017’s figure.
According to a report by the consultancy called Microapartments — The Next Big Thing in Property, the sector is set to grow due to changing ideals in terms of contemporary living, a lack of available housing in urban centres and changing demographics, with the number of single-person households in Germany set to climb to 44 percent by 2035, up from 36 percent in the year 2000. The report also predicts that Germany’s major urban centres can expect sustained increases in population through until 2030, with Berlin projected to grow by 9 percent, Hamburg by 5.6 percent, and Munich by 18.3 percent.
Although it is most often students and millennials who opt for microapartments, young professionals and long-distance commuters are increasingly seeing such properties as an alternative to wha