• Not only corporations arrange housing for employees
• Labor market changes housing market: furnished temporary rental apartments gaining popularity with expats and project employees
• New Munich residents increasingly start off with temporary rentals
Munich, 7th December 2016. Forty years at the same company in the same place – that is a thing of the past: Flexibility, globalization, and mobility are changing not only the working world, but also increasingly the housing market. “Especially in large cities like Berlin, Hamburg, or Munich furnished apartments for temporary rental have become a known entity for certain professions. This is especially true when hotels, boarding houses, or serviced apartments are out of the question,” says Norbert Verbücheln, managing director of Mr. Lodge. The mostly cosmopolitan tenants moving into furnished temporary rentals can be divided into three general groups.
Hamburg today, Munich in five months – Project employees
Whether seasonal workers or project employees, each year thousands of employees move to Munich for the duration of a project. They usually don’t give up their primary residence. Munich is, if at all, a temporary secondary residence. „Whether controllers, consultants, engineers, or IT experts: they live where the project takes place,” says Verbücheln. Since it is difficult to predict the duration of the project and it is usually less than two years, it is usually not worth it for project workers to invest a lot of money into their own furniture. In addition, they often lack the time. Hotels are too impersonal for a lot of people and often too expensive for freelancers. „At the same time, a comfortable home is indispensable for commuting employees, especially because of the flexibility and mobility required in other aspects of their lives. Furnished homes offer privacy, allowing the tenants to relax and prevent them from feeling even more uprooted.” Professional accommodation providers have recognized this and offer furnished apartments that are available on short notice and with flexible rental periods. Mr. Lodge, for example, is the market leader in Munich with 3,000 brokered furnished temporary rental apartments.
Labor market without geographical borders – More than 10,000 expats appreciate Munich
Many international companies consider international experience a minimum requirement for good positioning in the workplace. According to a study by eurostat, every third person now moves within the EU each year for professional reasons. The percentage of foreign employees has been rising continuously in recent years. According to the current micro census 2015, the share has exceeded 15 percent. Many of them are highly qualified expatriates. More than 10,000 English-speaking expats, mainly from the USA and England, are estimated to live in Munich. They often change their workplace at the request of their employer – and relocate to Bavaria’s capital.
More than 15 international schools, 70 bilingual childcare facilities
Munich is one of the most international cities in Germany and has, according to its own data, a lively expat scene that values the well-developed infrastructure. One thing that sets expats apart is that many of them bring their entire families with them. According to the city administration, they can find more than 15 international schools and over 70 bilingual childcare facilities in Munich – a perfect infrastructure for their families. According to Mr. Lodge, many expats rent larger apartments or houses. “This is usually arranged by the employer who brought the expert to Munich,” says Verbücheln. Demand is especially high in Munich, since many companies like BMW, Siemens, Allianz, or Linde are located there. In addition to numerous international companies, the city is also home to over 100 consular representations with changing staff. “However, it’s not only the big companies that arrange furnished apartments or houses for their employees. Many smaller and medium-sized businesses have also recognized the importance of this service in the competition for skilled workers,” explains Verbücheln.
Welcome to Munich! – New Munich residents
Munich is not only popular with foreigners, but has also been popular for years with graduates and young professionals: Renowned universities and a strong labor market with top companies attract an average of 27,500 new residents per year. However, living space is becoming increasingly scarce. Several studies show that until 2030, tens of thousands of apartments are missing in Munich. „In the long run, the real estate market won’t relax, as the demand exceeds the available and newly created supply,” says Verbücheln.
According to him, apartment hunting is especially difficult for those new to Munich. Particularly during the three- to six-month probationary period, many new residents can’t or don’t want to commit to a fixed lease. In addition, many landlords prefer to rent to people with permanent positions. Another problem for many new Munich residents: They aren’t familiar with the city yet and don’t know in which area they want to live. Verbücheln knows that “For many people, furnished rentals are the first step to their own apartment – without a permanent commitment”.
About Mr. Lodge: Apartments in Munich
With over 3,000 apartments and houses successfully brokered each year, and over 20 years’ experience, Mr. Lodge is the leading provider of furnished temporary rentals in Munich and surrounding areas. Whether you’re a project employee, young professional, expat, or manager seeking an apartment or house, our team of over 70 multilingual experts will make sure that you find a suitable furnished property quickly, with no complications. For this purpose, Mr. Lodge is able to use approximately 200 accommodation offers available on short notice. All apartments come fully equipped with individual furnishings and have flexible rental periods. These range from a few months to several years. In addition, Mr. Lodge is active in real estate sales and helps owners to optimally position their property on the market. Further information: www.mrlodge.com
Mr. Lodge GmbH – Wohnen auf Zeit
Contact person: Silke Steingröver
Barer Straße 32
tel: +49 89 340 823 87
fax: +49 89 340 823-23