Hamburg (29 October 2014) - Whether in town or in the countryside, the great majority of German tenants feel comfortable in their homes. Nearly two-thirds (65 percent) give their home's condition and amenities an 'excellent' or 'good' rating. These are the findings of a population-representative study jointly conducted by TAG Immobilien AG and the Technical University of Darmstadt. 1,000 tenants in Germany were interviewed for the study.

Another 23 percent of respondents gave their rented homes a 'satisfactory' rating. Similarly, two-thirds of respondents rated the neighbourhood of their homes as 'excellent' or 'good'. Only six percent of renters gave their neighbourhood a score of 'inadequate' or 'unsatisfactory'. According to the study, the German tenants' satisfaction relates to the shopping in the area, access to (public) transport, contact with neighbours, and landlord services - regardless of whether their apartment is located in a city or in the countryside.

"The results of the survey show that housing companies have largely adjusted to the various needs and requirements of tenants," says Claudia Hoyer, the TAG Executive Board member in charge of real estate management. Families, for example, have different expectations of a rented apartment than singles or seniors do. Responding to these needs in a targeted way opens up great opportunities, especially in Germany, given that this is one of the few countries in Europe with approximately equal markets for rented and owned homes: according to the Federal Statistical Office, a little over half of all Germans (54.9 percent) live in a rented home, whereas 45.1 percent live in a home they also own.

"This is both a challenge and an opportunity for housing companies," explains Hoyer. Experts estimate that 310,000 new apartment units per year will be needed in Germany by 2025. Professor Dirk Schiereck at the TU Darmstadt recommends that housing companies be even more attentive to particularities of the respective regions. "The task at hand for the companies is to meet the differing needs of different target groups with long-term and sustainable solutions," says the real estate expert. Since the housing market in Germany is not homogeneous, the markets differ locally.

TAG, for example, is converting a four-storey property in the Stotternheim district of Erfurt into family-friendly apartments with individual floor plans. "This extensive modernisation project is in part a response to the huge demand for affordable housing for families," says TAG Board member Hoyer. The apartments are set in a child-friendly environment with a green courtyard and playground. In addition to spacious three- to five-room flats, there are also studios for singles. Each apartment has a balcony, and the kitchens and bathrooms have windows. The move-in date is scheduled for December of this year. Twenty of the 24 apartments are already rented.

Contact for the tenant study:

Thöring Heer & Partner

Claudia Thöring

Mittelweg 19 - D-20148 Hamburg

Phone: +49 40 207 6969 82

Mobile: +49 170 2150 146

Claudia.Thoering@corpnews-media.de

About TAG Immobilien AG

TAG Immobilien AG an MDAX-listed company with a more than 125-year history. Its primary locations are in the Greater Hamburg and Berlin areas, the Salzgitter region, as well as Thuringia / Saxony and North Rhine-Westphalia. TAG currently manages about 74,000 dwellings and the associated commercial areas, garages and parking spaces. The company's goal is to improve the quality of housing for its tenants. In line with this, TAG adapts its holdings to modern living needs to, gets involved in the communities of its residential quarters, and promotes a good neighbourhood spirit. The Group continually reduces vacancy and increasing the value of its total portfolio through prudent management of its properties and a future-oriented/forward-looking development of its overall portfolio.

Press enquiries:

TAG Immobilien AG

Head of Investor & Public Relations

Dominique Mann

Phone +49 (0) 40 380 32 300

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