 RIWIS Online - About the Data - Definitions and Additional Information | |||
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Residential Lettings | |
| Definition: Rents There are two types of rents published for the residential market, firstly minimum, maximum and average rents for newly build apartments or completely refurbished, modernised apartments. Secondly minimum, maximum and average rents for pre-let apartments, i.e previously let, existing apartments - usually not refurbished in the last 5 yrs. Rents stated are net rents without accessory charges. Rents given are nominal values. To make rents comparable they describe typical rents for a 3 room (2 bedroom) apartment with 65-95 sqm living space and average fittings. Therefore minimum and maximum rents describe a range based mainly on differences regarding location. The Maximum Rent is defined as an average rent of the top 3-5 % of all lettings in each submarket, and not the most top rent realised. The Average Rent is an weighted average value of all rents within a submarket. All average values are not strict mathematical means, modes or medians, but rather describe a typical, common rent level for each submarket. Multiplier Multipliers apply for residential buildings, with at least 6 dwellings (no tower blocks), and 20 years of age, excluding totally modernised / refurbished buildings. The range shown describes variances due to the location. As for rents the Maximum Multiplier is defined as an average value of the top 3-5 % in each submarket, and not maximum realised. The Average Multiplier is an weighted average value of all multipliers within a submarket. All average values are not strict mathematical means, modes or medians, but rather describe a typical, common level for each submarket. Data: Source: The Residential Market Data is based on empirical research and data collection performed by bulwiengesa AG. In order to acquire the relevant base of information numerous real estate agents, banks, building associations, local economic development agencies and other semi-public and public organisations (IHK, Gutachterausschuss, ...) are interviewed. Additionally various press-releases and publications concerning the property market are analysed and taken into account. Based on this information and on the knowledge of bulwiengesa AG each value will be checked on plausibility and finally results in the value published in RIWIS. |