Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Those statistics are often very questionable. I am very often in Belgium and the Netherlands, and the houses and apartments there are noticeable smaller than in Germany. Dutch people sometimes call Germans pretentious because of their larger houses.
The calculation methods for the living space differs strongly from country to country. For example in the Netherlands the attic is counted as living space.
Or in the U.S. they count half of the thickness of the exterior walls and all interior walls as living space. They also don't subtract the areas below roof slopes and the areas for stairs.
Those statistics for international comparisons don't consider the different calculation methods for living spaces.
See, two bedroom apartments where I live rent for about $1850-$2200. It's good to know that most places in Europe aren't as crazy expensive as what people tend to say.
We plan to visit Finland sometime in the next two years, so it's good to know that it's not that expensive. (We'd most likely stay outside of the expensive touristy part of Helsinki, too.)
Here not many would pay that much. It would be smarter to buy that apartment
See, two bedroom apartments where I live rent for about $1850-$2200. It's good to know that most places in Europe aren't as crazy expensive as what people tend to say.
I don't understand how people with low incomes are able to pay such rents. I guess employees at Walmart for example don't have a net income of more than $3,000 per month. Where live those people?
Here in Düsseldorf the median rent for a one bedroom apartment with 600 to 800 sq ft is about €560.
The median rent for a two bedroom apartment with 700 to 900 sq ft is about €650. That is considered expensive in Germany.
In Duisburg, a similar sized city, 20km further north. The median rent for a similar sized one bedroom apartment is about €305. And the median rent for a two bedroom apartment is about €360.
In Munich, the most expensive German city, the median rent for a one bedroom apartment is about €980, and the rent for a two bedroom apartment is about €1,100.
And for the whole of Germany: Median rent for a one bedroom apartment is about €350, and the median rent for a two bedroom apartment is about €390.
But you have to add about €150 to €200 for water, garbage and heating.
I don't understand how people with low incomes are able to pay such rents. I guess employees at Walmart for example don't have a net income of more than $3,000 per month. Where live those people?
Here in Düsseldorf the median rent for a one bedroom apartment with 600 to 800 sq ft is about €560.
The median rent for a two bedroom apartment with 700 to 900 sq ft is about €650. That is considered expensive in Germany.
In Duisburg, a similar sized city, 20km further north. The median rent for a similar sized one bedroom apartment is about €305. And the median rent for a two bedroom apartment is about €360.
In Munich, the most expensive German city, the median rent for a one bedroom apartment is about €980, and the rent for a two bedroom apartment is about €1,100.
And for the whole of Germany: Median rent for a one bedroom apartment is about €350, and the median rent for a two bedroom apartment is about €390.
But you have to add about €150 to €200 for water, garbage and heating.
Low income people tend to live with family, other people, or in the other part of the county where it's slightly (not much) less expensive.
Majurius, most of the apartments are rented out by companies who own the entire apartment complex. Renting condos that others own is often slightly cheaper, but they're harder to find. That apartment in your link is an unknown to me. I don't know how much it would sell for here. This isn't the capital of the country, either, as Helsinki is. People just like warm weather and will pay a lot to live here.
Renting here is the norm for people in their 20s and 30s. In the last decade, property ownership for 25-34 year olds has decreased from like 56% to 36%. I rent my property and nearly all my friends do. Most people I know who own their own property are in their 40s and older. Average age for a first time buyer in the UK has increased from 29 to 38 in about 10 years.
Surprised renting is not common in Finland at all.
As for cost, renting costs more in the long-term which is why most people are keen to buy their own property sooner rather than later.
Low income people tend to live with family, other people, or in the other part of the county where it's slightly (not much) less expensive.
Majurius, most of the apartments are rented out by companies who own the entire apartment complex. Renting condos that others own is often slightly cheaper, but they're harder to find. That apartment in your link is an unknown to me. I don't know how much it would sell for here. This isn't the capital of the country, either, as Helsinki is. People just like warm weather and will pay a lot to live here.
So you are making some company rich then. I don't get your point, Finland clearly has more expensive housing that your area and those rental prices you are dropping no one would pay here for any apartment. People are just too smart:
I made a little calculation: With current interest rates I could mortage that $450k house of yours with about 2k/month for 20 years. And I have no idea how it would be smart to put that money to someone else's pocket... Please teach me, we took different economics classes
How do you explain that a median American household doesn't own that much? Also an average American household is much bigger than in Finland so I wouldn't be so sure if you guys have much bigger houses after all
Last edited by Majurius; 07-10-2015 at 05:47 PM..
Reason: assuming 50 grand down payment that is
Renting here is the norm for people in their 20s and 30s. In the last decade, property ownership for 25-34 year olds has decreased from like 56% to 36%. I rent my property and nearly all my friends do. Most people I know who own their own property are in their 40s and older. Average age for a first time buyer in the UK has increased from 29 to 38 in about 10 years.
Surprised renting is not common in Finland at all.
As for cost, renting costs more in the long-term which is why most people are keen to buy their own property sooner rather than later.
Of course some rent but no sane person with a career would stick to it. Even some students get mortages because it's so much better of a deal
Renting costs more in any term because you loose 100% of the money you pay. With mortage part of your every payment goes directly to you
A person buying a $450K condo would need to put $90K down which most Americans don't have. Plus you'd have to pay around $500/m on top of the mortgage for association fees. Even when people do have the cash laying around, many don't want to tie it up in a house. Meanwhile, people have to live somewhere so they rent instead.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Landlords seek to make profit you know? $450 000 for a condo isn't even much if the location is right.
