Market report 2008 - Location: Essen
The future cultural capital of Essen, being the sixth largest city of Germany with around 582 000 inhabitants, provides an attractive location for service providers with strong-selling companies like Thyssen Krupp, RWE, Evonik and many more. Essen, with its seven well-known clinics and the university clinic still counts among the top regions throughout Germany in the field of medical care and the multifarious jobs for doctors from all over the world.
Due to its location, Essen is an important location factor for the rest of the Ruhr district and the provincial capital, Düsseldorf close by. In addition, it offers a variety of cultural activities, a wide-ranged repertoire of leisure activities and a particularly wonderful atmosphere with all shopping possibilities and many interesting restaurants and cafés on the popular Rü.
In the real estate sector, the south of Essen enjoys a constant high demand for luxury private and investment property.
Condominiums
Especially in the south of Essen, the prices are very stable. Exclusive condominiums, above all in the popular districts of Bredeney, Stadtwald/ Moltkeviertel, Rüttenscheid and Werden, are enjoying high demand. First and foremost, potential buyers are looking for large and thus comfortable four to six roomed apartments. The trend towards looking for condominiums of about 75 - 90m³ living space in first-class locations with valuable features is unchanged.
Detached homes and villas
Villas and other interesting properties up to € 2 mio are popular and appreciated in the districts of Altbredeney, Brucker Holt, Schuir, Stadtwald and Moltkeviertel. The interest for detached houses in the upper price range of between about € 500,000.00 and € 850.000,00 is unchanged and large to very large.
Investment property
The interest of institutional investors - mainly from abroad - is still continuous. Especially the intrinsic value of the Essen and Düsseldorf housing market makes the location interesting for, among others, investment companies.
