1. What are the current developments on the Düsseldorf real estate market?

2. What are the current rents in Düsseldorf?

3. What are the real estate prices for condominiums in Düsseldorf?

4. How high are the real estate prices for single and multi-family houses in Düsseldorf?

5. How high are the real estate prices in Düsseldorf by district?

6. What is the prognosis for property prices in Düsseldorf?

7. Contact person - this is what your local expert says

As one of the most sought-after residential locations in Germany, Düsseldorf has recorded continuous population growth for years. The Rhine metropolis is currently inhabited by more than 645,000 people, +4.2 percent more than in 2014. Real estate prices are developing correspondingly positively. Good economic fundamentals and consistently high demand make Düsseldorf popular with investors. Although there is a very high demand for properties in the medium price segment, many new construction projects are currently being implemented in the upscale segment. Many interested parties are now looking around in the cheaper peripheral locations in the Düsseldorf area. The desires that the city arouses are also expressed in the vacancy rate. Only 1.4 percent of the available apartment buildings in Düsseldorf are currently unused.

Both for new construction projects and for existing properties, rents in Düsseldorf have been rising for a few years now. Compared to other German cities such as Berlin, in which the price level rose by 8 percent in some cases within a year, the price curve in the Rhine city is somewhat flatter. In 2020, tenants of an existing property in Düsseldorf paid an average of 11.34 euros per square meter of living space. The increase in rent was +3.75 percent compared to the previous year. If you look at the increase over the past five years, the rental price level rose by +14.89 percent. The rental prices for new buildings in Düsseldorf are also rising slightly. Between 2019 and 2020, the rent for such properties rose by 2.57 percent to an average price per square meter of 13.98 euros. Over a five-year period, the increase in the average asking rent for new buildings was +10.8 percent.

Good returns and a constant increase in value make buying a condominium in Düsseldorf particularly attractive for investors - both in the case of existing and newly built properties. Last year, buyers paid an average asking price of 4,459 euros per square meter for an existing property. This corresponds to a growth of +6.17 percent compared to 2019. In the past five years, such condominiums have even recorded an increase in value of +42.73 percent. The new construction projects in this submarket are also experiencing constant growth in price levels. Buyers of a newly built condominium in Düsseldorf paid average square meter prices of 7,298 euros last year, which equates to an increase of 9.35 percent compared to the previous year. The increase in value over the past five years was +43.21 percent.

Düsseldorf also occupies one of the top positions in terms of average real estate prices for single-family houses. The average offer price last year was 1.14 million euros. This means an increase in purchase prices of +14.7 percent compared to the first half of 2019.

Düsseldorf's market for investment properties such as residential and commercial buildings and apartment buildings has been very popular for years. The average offer price in the first half of 2019 was 3,343 euros per square meter. Prices and factors are currently increasing, especially in simple locations in Düsseldorf. Transaction numbers, rents, prices and factors can be found in detail in our Residential and Commercial Buildings Market Report 2020.

In order to better assess the price dynamics of the Düsseldorf real estate market, it is worth taking a look at the different locations that the city has. These subdivide the individual districts into very good, good, medium and simple quality locations.

The districts of Düsseldorf in a very good location are mainly spread across the city center and northern peripheral areas. Specifically, Düsseltal, Golzheim, Niederkassel, Oberkassel, Carlstadt, Meerbusch, Ratingen-Lintorf, Ratingen-Hösel, Wittlaer and Kaiserswerth fall into this category. Local one- and two-family houses have the highest level in the Rhine metropolis with a price range between 3 million euros and 8 million euros. Ilkay Koenec is currently assuming that asking prices in these parts of the city will remain stable. The same applies to the price development of the condominiums there, which currently achieve square meter prices between 11,000 euros and 15,000 euros. Square meter prices between 3,000 and 4,700 euros are called for multi-family houses.

The districts in good locations include Hubbelrath, Ludenberg, Hamm, Unterbilk, Pempelfort, Stockum, Kalkum, Unterbach and Angermund. Buyers pay between 1.8 million euros and 3 million euros for a one- or two-family house in these districts. The prices for condominiums range between EUR 8,000 and EUR 11,000. As with the very good locations, Ilkay Koenec is currently assuming that asking prices will remain stable in these parts of the city. Square meter prices between 2,400 and 3,400 euros are called for residential and commercial buildings in Düsseldorf.

The districts with medium quality locations are mainly located in the city center, but occasionally also in the south or close to the Rhine. Volmwerswerth, Bilk, Lohausen, the city center, Derendorf, Mörsenbroich, Unterrath, Gerresheim and Vennhause belong to this location category. In these districts of Düsseldorf, investors pay average asking prices between 1 million euros and 1.5 million euros for single and two-family houses. Condominiums, on the other hand, achieve square meter prices between 5,000 euros and 6,000 euros. A positive development in property prices is assumed for both types of property in the future. For residential and commercial buildings, square meter prices between 2,100 and 2,650 euros are called here.

Mainly parts of the city south of the center are in a simple location. Oberbilk, Lierenfeld, Eller, Hassels, Wersten, Holthausen, Garath and Hellerhof belong to this location category. These districts have on average the lowest price level in Düsseldorf: single and two-family houses in this location cost between 600,000 and 900,000 euros. The local condominiums also achieve a moderate price range between 2,600 euros and 3,500 euros per square meter. However, real estate prices are also expected to increase in value in these simple locations in the future. Real estate prices for apartment buildings start at 1,600 to 2,200 euros per square meter.

The real estate market in Düsseldorf is currently very dynamic. Birgit Pfeiffer from Ilkay Koenec Düsseldorf predicts: “With regard to the early easing of restrictions during the pandemic, demand has increased significantly. If the buyer is not dependent on any financing, the sales process is quick. When financing is requested, the behavior of the banks is very restrictive and leads to great uncertainty. We are sure that the real estate market in Düsseldorf will remain stable and that the supply of valuable real estate will also increase. "