July 25, 2023

Olaf Scholz, the Prime Minister who was elected in 2021 with the Socialist Democrat Party (SDP) has promised 400.000 new apartments in order to lower the rents around the country. After the elections, the government only managed to build 295.300 new flats and couldn’t fulfill the promises Scholz pledged. Demands towards new projects have been in decline whilst second-hand estates have increases in value. It's a good time to own a second-hand apartment in Germany!