Listed German real estate firm Youniq (formerly Alta Fides) has acquired a second plot of land in Munich for the development of student flats. The project will be the firm's ninth project for student accommodation in five locations in Germany.
Listed German real estate firm Youniq (formerly Alta Fides) has acquired a second plot of land in Munich for the development of student flats. The project will be the firm's ninth project for student accommodation in five locations in Germany.
The property is located in Munich's district of Freimann on Georg-Wopfner-Strasse. Construction of the 130 student apartments will start in early 2010. The apartments with a floor space of about 23 m2 will be rented for an all-inclusive rent starting as low as EUR 450.
'The start of the 2009/2010 winter semester showed yet another increase in the number of students enrolled in Munich,' said Rudolf Bartsch, member of the Board of Youniq. 'At the same time, rent levels are higher here than anywhere else in Germany, with student housing for single-person households being virtually unavailable. Therefore we expect this as other Youniq projects to meet with a high demand and to be fully let within a short period of time.'
