LOCATION
DÜSSELDORF
Düsseldorf attracts several million visitors a year and is one of Germany’s most important locations in the Rhineland. The city has the most businesses per 1,000 inhabitants in North Rhine-Westphalia and is the most sought-after location in Europe for foreign direct investment behind London. With 25.5 million passengers annually, the airport is the fourth largest in Germany. Numerous companies have settled in the city on the Rhine, such as L’Oréal, Vodafone, Metro or Henkel. The good transport links via the Rhine, the airport, but also rail and road, make Düsseldorf an interesting location.
Condominium development in Düsseldorf
The listing price for condominiums in Düsseldorf more than doubled between the years 2012 and 2022. While the price per square metre was still €1,854 in the first quarter, this rose to €5,081 in the first quarter of 2022, an increase of more than 274%.
Source: Statista 2022; own representation
In addition to the old town close to the centre, the districts of Oberkassel, Unterbilk and Carlstadt, as well as the districts of Wittlaer, Kaiserswerth or Himmelgeist close to the Rhine, are among the most sought-after locations.
Residential construction in Düsseldorf
Between 2017 and 2020, about 2,400 flats were completed annually, so that the housing stock in 2020 totalled 349,523. The average flat size was around 76 m², while the average living space per person was 43 m².
Düsseldorf is one of the ten German cities with the highest tenant density, with around 80 % rented households.
Strong purchasing power
Purchasing power is also particularly high in Düsseldorf. Among the largest German cities, Düsseldorf’s purchasing power of around €27,416 is behind Munich’s €31,385 and ahead of Stuttgart, Frankfurt am Main and Hamburg.
The unemployment rate fell in May compared to the previous year from 8.1 % to 6.6 %. This puts Düsseldorf above the current national average of 4.9 %. Compared to other A-locations such as Berlin, Cologne or Hamburg, Düsseldorf, together with Frankfurt am Main, is in the middle. Only the two cities of Stuttgart and Munich have a lower unemployment rate.