Laufende Marktbeobachtung Wohnen

US Multifamily Monitor 2. Halbjahr 2025

Während hohe Hypothekenzinsen den Zugang zu Wohneigentum in den USA erschweren, profitiert der Mietwohnungsmarkt von struktureller Nachfrageverlagerung. Gleichzeitig deutet der massive Rückgang der Bautätigkeit auf eine mittelfristige Angebotsverknappung hin.

Der US-Mietwohnungsmarkt durchläuft eine Strukturverschiebung: Während hohe Hypothekenzinsen und gestiegene Kaufpreise den Zugang zu Wohneigentum erschweren, verlagert sich die Nachfrage zunehmend in den Mietsektor. Gleichzeitig ist die Neubautätigkeit seit dem Höchststand 2022 um 67 Prozent zurückgegangen – ein klares Signal für eine bevorstehende Angebotsverknappung.

Der aktuelle US Multifamily Monitor analysiert die zyklische Positionierung des Marktes vor dem Hintergrund politischer Weichenstellungen, veränderter Finanzierungsbedingungen und demografischer Trends. Die Studie zeigt auf, wie sich die Kombination aus stabiler Nachfrage, sinkenden Leerständen und rückläufiger Bautätigkeit auf Mietpreisentwicklungen und Investmentchancen auswirkt.

Schwerpunktthemen:

  • Volkswirtschaftliche Rahmenbedingungen und Fed-Politik
  • Die Housing Crisis: Eigentumskrise statt Wohnungskrise
  • Nettoabsorption und Leerstandsentwicklung
  • Kapitalisierungszinsen und Transaktionsvolumen
  • Marktperspektiven für institutionelle Investoren

Eine Publikation von bulwiengesa in Zusammenarbeit mit GAR German American Realty GmbH.

Downloads

Ansprechpartner: 
Felix Embacher
felix.embacher@bulwiengesa.de
Tel.: +49 89 23 23 76 22

You might also be interested in

For our magazine, we have summarized relevant topics, often based on our studies, analyses and projects, and prepared them in a reader-friendly way. This guarantees a quick overview of the latest news from the real estate industry.

Little movement on the German real estate market

For the eleventh time, bulwiengesa presents its comprehensive analysis of the German real estate markets. The results of this year's 5% study, conducted in collaboration with ADVANT Beiten, show that the German real estate market is characterized by widespread stagnation. At the same time, niche segments are becoming increasingly attractive. The market is increasingly rewarding professional asset management and specialist knowledge—a trend that separates the wheat from the chaff
>

Retailers need to rethink - but in which direction?

The Hahn Group's new ‘Retail Real Estate Report’ has been published - a classic for anyone involved in retail property. We have been working on it since 2018 and have once again presented the most important retail sectors, economic developments and forecasts as well as trends
>

Five per cent returns no longer illusory even for core properties

The ‘5% study - where investing is still worthwhile’ celebrates its tenth anniversary. Since the first edition was published, the German property market has tarnished its reputation as a safe investment haven. Higher yields are now within sight, even for prime properties, and even residential property is increasingly becoming a profitable asset class again. The market is more exciting than it has been for a long time
>

Interesting publications

Here you will find studies and analyses, some of which we have prepared on behalf of customers or on our own initiative based on our data and market expertise. You can download and read many of them free of charge here.

The 5 % Study 2024 - where it still pays off to invest

bulwiengesa has analysed the yield potential of the German real estate markets for the tenth time.
>

BF.quarterly barometer Q3/2024

Slight recovery in new business helps barometer
>

bulwiengesa real estate index 2024

Real estate index up again, but also with real increase?
>