German Rent Rally Stalls in Biggest Cities After Years of Gains

Advertised rents in the German city of Hamburg fell for the first time in five years in July as lengthy rallies slowed or stopped in the country’s biggest urban areas, according to online broker Immobilien Scout GmbH.

Offered rents in the northern German city declined 0.7 percent in July from June, the first drop since June 2007, according to data compiled by the Berlin-based broker. Cologne in the west slid 0.2 percent in the first retreat since April 2012. Frankfurt and Munich declined 0.2 percent and 0.4 percent respectively, continuing a slowdown that began this year. Berlin was the only city among Germany’s five largest where rents rose.