Rostock's Wiro plans 700 new apartments - positive balance despite challenges!
Rostock's Wiro plans 700 new apartments - positive balance despite challenges!
Rostock, Deutschland - The housing market situation in Rostock picks up speed, and the largest housing company in the city, the Wiro, has ambitious plans for the future. According to Borkener Zeitung Plant Wiro, an important contribution to relaxation of the tense housing market. The planned start of the external development of the new district at the shipyard triangle is scheduled for 2025. This is to create around 700 new apartments, which is a big step in the right direction.
But the company has not only relied on this big project. At the same time, further new construction projects for 500 apartments were initiated, which clarifies that Wiro has a good knack for planning new living space. Nevertheless, the industry is currently faced with increasing construction and energy costs, higher interest rates and an unclear social housing subsidy, such as the ImmobilienScout24 reported.
positive balance sheet and challenges
at the end of 2024, Wiro managed a total of 35,178 own apartments, in addition to 4,415 units that are managed on behalf of other owners. With a market share of around 28 percent, the Wiro plays a central role in the Rostock housing market. Nevertheless, the rental market is tense: The average rent in Rostock is 6.54 euros per square meter, which corresponds to an increase of around 3.5 percent compared to the previous year. Even the census survey from mid-2022 states that the average rent in Rostock is 6.70 euros per square meter.
Rental price development at a glance
The rental price development is influenced by various factors, especially supply and demand, which is clearly visible in Rostock. In metropolitan areas and sought -after areas, demand often exceeds the supply of what the rents continued to drive up. According to Engel & Völkers The influx is increased by international migration and the inner German hike. Economic framework conditions and legal regulations also have a significant impact on rental prices.
Particularly positive messages bring the low vacancy rates in Rostock: these are below one percent, while the fluctuation rate is 8.5 percent. This shows that interest in living space in this beautiful Baltic Sea city is unbroken. With the upcoming new construction projects and the positive business development of the Wiro, the city of Rostock can look at a hopeful future in the apartment sector.
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| Ort | Rostock, Deutschland |
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