Is the real estate market (esp. for renting out) actually dominated by private investors and their savings? Here in German cities, it feels like it's dominated by faceless investors and corporations but I have no data to back that up.
It's also why you sometimes see a development with a several rows of houses meant for sale flanked by one or more apartment buildings with a far smaller footprint but enough floors to equal roughly the same usable area in order to get the project approved.
But it's also easy to see why for someone looking for rent in many big cities today it looks like most apartments are owned by big management companies. New developments in "hot" cities with high demand and such laws are owned by a management company because that's the only way it works. You'd see entire buildings owned by the developer. It will take decades for those new apartments to go into private ownership.
[0] https://www.thelocal.de/20210708/explained-munichs-radical-n...