Housing Markets on the Rise in Berlin, Busan, and Madrid

    Feb 24, 2020 @ 07:45 AM / by Patrick Benedetti

    Busan-1

    Evening view in Busan, South Korea during an AIRINC cost-of-living survey.

    Berlin, Germany

    Berlin rents increased over the past year. Demand is growing from new start-up companies and larger international companies establishing headquarters in Berlin. Construction of new rental units is underway but expected to take a few more years before appearing on the market.

     

    Busan, South Korea

    After large projects concluded in nearby Geoje and Ulsan, companies relocated some expatriates to Busan where rents increased with demand. There is a limited supply of good quality expat housing and some units are being converted to short-term vacation rentals, which decreases supply further.

     

    Madrid, Spain

    Rents are up for both houses and apartments in Madrid. Demand remains strong, especially with Brexit looming. With apartments in popular areas renting within 48 hours, most landlords are unwilling to negotiate. Sources reported that new construction is limited to mostly high-end 2-bedroom units with amenities, but progress is slow.

     


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    AIRINC's Data Points: Your Global Mobility News

    Want to learn more? The above excerpt is taken from Data Points, AIRINC's quarterly newsletter. Data Points brings you the latest updates from our Housing, Goods & Services, and Tax departments based on our expert international surveys, which are conducted by our global data collection team on-location.

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    Topics: Housing, Expatriate Housing, Data Points, Insights and Experience, International Housing Guide, South Korea, Site Summaries, economic volatility, Germany, Berlin, Spain, Madrid, Busan

    Patrick Benedetti

    Written by Patrick Benedetti

    Patrick joined AIRINC as a cost of living surveyor in 2003 and has traveled to over 70 countries. In 2006, he joined the housing department where he co-manages housing data collection, trains the survey team, and maintains AIRINC's Location Profiles product. Patrick also manages special housing projects and produces AIRINC’s quarterly data newsletter “Data Points.” He continues to survey key locations.