WG (Wohngemeinschaft)

24. May 2023 | Author: Leonora Jensen
WG (Wohngemeinschaft)

What is WG (Wohngemeinschaft)?

WG, or Wohngemeinschaft, is a German term that translates to "shared living community" in English. This concept is prevalent in Germany and other German-speaking countries, where individuals, often students or young professionals, share a living space to reduce costs and foster social connections.

How Does WG (Wohngemeinschaft) Work?

In a WG, each person has their own bedroom but shares common areas like the kitchen, bathroom, and living room with the other residents. This arrangement allows for lower living costs as rent and utilities are divided among the residents. It also promotes a sense of community, as residents often engage in shared activities and responsibilities.

For example, consider a group of four university students in Berlin who decide to live together in a WG. Each student has their own bedroom but shares the kitchen, bathroom, and living room. They split the monthly rent of €2000, resulting in each student paying €500, a significantly lower cost than if they were to rent individual apartments.

Why is WG (Wohngemeinschaft) Important in Real Estate?

From a real estate perspective, WGs represent a unique market segment. Landlords who cater to this segment often offer fully furnished apartments and flexible lease terms to accommodate the transient nature of these residents. Additionally, the demand for WGs can influence rental prices, especially in university towns where the concept is most prevalent.