Cologne property market: Prices level out at a high

Average asking prices of 1 million euros in Lindenthal
Cologne most favourably priced city in “Top 7” national comparison
Energy-efficient new buildings in particularly high demand

Hamburg, 18 August 2022. With a population of more than one million, Cologne is one of the largest cities in Germany – after Berlin, Hamburg and Munich. The cathedral city on the River Rhine is one of the most sought-after residential locations in the Federal Republic, thanks to the high quality of life it offers, and its importance as a centre of business, research and education. “In spite of interest rate increases and inflation, the level of demand for property in the city and the surrounding region is constant,” says Christian Sprave, Managing Director of Engel & Völkers Cologne, adding: “Real estate remains a crisis-proof investment with high value retention. There is also a lack of attractive and reliable investment alternatives. Energy-efficient new buildings in Cologne’s city centre are in especially high demand at the moment.”

Freehold apartments: City centre is most expensive and desirable location

Average asking prices for existing freehold apartments rose to 5,153 euros per square metre in H1 2022, marking an 8 percent increase over the previous year (H1 2021: 4,771 euros per square metre). Comparatively speaking, Cologne remains the lowest-priced of Germany’s “Top 7” cities. With average asking prices of 6,817 euros per square metre, the city centre ranks among the most sought-after and expensive addresses for freehold apartments, followed by the districts of Rodenkirchen and Lindenthal with average asking prices of between 5,279 and 5,607 euros per square metre. Premium properties in very good locations can reach top prices of up to 20,000 euros per square metre.

The segment for newly constructed freehold apartments saw an even sharper price rise – to an average of 7,037 euros per square metre in the first half of 2022, marking an 11.4 percent increase over the previous year (H1 2021: 6,317 euros per square metre). “We’re seeing a strong demand for new builds that are particularly well insulated and energy-efficient. These have become more important criteria for buyers, in light of the upcoming winter and uncertainty surrounding the gas supply. However, increased construction costs, labour shortages and global supply chain problems have meant that there have been delays in the completion of many new buildings. The availability of such properties on the market is hardly increasing at all as a result, and prices are levelling out,” says Christian Sprave.

Detached and semi-detached properties: Moderate price rises in H1 2022

Prospective buyers are also focusing their attention on features such as insulation, a fireplace and a high energy classification in the segment of detached and semi-detached houses. In the first half of 2022, the average asking price for detached and semi-detached houses in Cologne was 710,000 euros. This represents an increase of more than 9 percent compared to the previous year. As in the segment for freehold apartments, the districts of Lindenthal and Rodenkirchen, along with the city centre, were also the most expensive districts for detached and semi-detached houses: Here, the average asking prices ranged between 785,000 and approx. 1 million euros. Particularly exclusive residences in very good locations are currently on sale for asking prices of 1.75 to 7.5 million euros. “We are currently noticing a somewhat greater reluctance to buy, but assume that things will naturally settle back down to normal in the medium term. Real estate serves as a safe investment particularly in times of crisis. Not only as a long-term financial asset, but as a place to retreat with emotional returns too,” says Christian Sprave.

As was the case for city locations, market activity in the immediate surrounding region also remained stable in the first six months of 2022, buoyed by an ongoing desire among people to move to the countryside. Nevertheless, prices in these surrounding areas still remain below that of Cologne’s city locations. The highest prices were in Rösrath in the Rheinisch-Bergisch district, with average asking prices of 679,000 euros, followed by Pulheim and Bergisch Gladbach at approx. 630,000 euros.

Outlook: Prices expected to flatline in all locations

The experts at Engel & Völkers are anticipating a flatlining of prices in all Cologne locations for the remainder of the year. The month of June saw a slight drop in asking prices for freehold apartments in Cologne for the first time in years, due to the rise in interest rates. There could therefore be further moderate price corrections, especially in simple and average locations. “Many people acquired homes at top interest rates a few years ago and now have to budget more for follow-up loans. That said, the current interest rate is still relatively low when compared historically, meaning that seriously interested buyers now have opportunities to acquire properties that were more difficult to obtain in recent years due to the sheer number of buyer offers being made,” says Christian Sprave, summing up: “The current market climate is a special one, and long-term forecasts are difficult. Professional advice is therefore highly recommended to both sellers and buyers; it is absolutely necessary to be able to assess the current situation correctly.”

Other trends relating to purchase power and property prices in German cities can be found (in German) in the “Engel & Völkers Market Report for Residential Property in Germany 2020/21”.

Sources: Asking prices: VALUE Marktdatenbank, Gutachterausschuss Köln

Charming old villa on park-like property in Rondorf

Built in 1920, this old villa in Cologne Rondorf impresses with its classic architecture and is for sale for 2.3 million euros. The former rectory extends over a plot of around 1,523 square meters and offers plenty of privacy and space to relax. The 321 square meters of living space with eight rooms reflects the representative residential character of the property. A special highlight is the spacious park-like garden. (Image source: Engel & Völkers Köln-Rodenkirchen)

Modern old-building apartment in the Belgian Quarter

This bright two-room apartment with its own terrace is located in a listed former backyard-building from 1900 and is marketed by Engel & Völkers for 520,000 euros. In 2013, the property was extensively renovated using high-quality materials. Thanks to solid wood parquet flooring, listed wooden windows and an open kitchen-living area, modern design and old building charm are cleverly combined. (Image source: Engel & Völkers Köln City)

copyright: Image source: Engel & Völkers Köln City

28 August, 2022/by Maria G

ARQUITECTURA, Casas, Inmobiliaria

Cologne property market: Prices level out at a high

Average asking prices of 1 million euros in Lindenthal
Cologne most favourably priced city in “Top 7” national comparison
Energy-efficient new buildings in particularly high demand

Hamburg, 18 August 2022. With a population of more than one million, Cologne is one of the largest cities in Germany – after Berlin, Hamburg and Munich. The cathedral city on the River Rhine is one of the most sought-after residential locations in the Federal Republic, thanks to the high quality of life it offers, and its importance as a centre of business, research and education. “In spite of interest rate increases and inflation, the level of demand for property in the city and the surrounding region is constant,” says Christian Sprave, Managing Director of Engel & Völkers Cologne, adding: “Real estate remains a crisis-proof investment with high value retention. There is also a lack of attractive and reliable investment alternatives. Energy-efficient new buildings in Cologne’s city centre are in especially high demand at the moment.”

Freehold apartments: City centre is most expensive and desirable location

Average asking prices for existing freehold apartments rose to 5,153 euros per square metre in H1 2022, marking an 8 percent increase over the previous year (H1 2021: 4,771 euros per square metre). Comparatively speaking, Cologne remains the lowest-priced of Germany’s “Top 7” cities. With average asking prices of 6,817 euros per square metre, the city centre ranks among the most sought-after and expensive addresses for freehold apartments, followed by the districts of Rodenkirchen and Lindenthal with average asking prices of between 5,279 and 5,607 euros per square metre. Premium properties in very good locations can reach top prices of up to 20,000 euros per square metre.

The segment for newly constructed freehold apartments saw an even sharper price rise – to an average of 7,037 euros per square metre in the first half of 2022, marking an 11.4 percent increase over the previous year (H1 2021: 6,317 euros per square metre). “We’re seeing a strong demand for new builds that are particularly well insulated and energy-efficient. These have become more important criteria for buyers, in light of the upcoming winter and uncertainty surrounding the gas supply. However, increased construction costs, labour shortages and global supply chain problems have meant that there have been delays in the completion of many new buildings. The availability of such properties on the market is hardly increasing at all as a result, and prices are levelling out,” says Christian Sprave.

Detached and semi-detached properties: Moderate price rises in H1 2022

Prospective buyers are also focusing their attention on features such as insulation, a fireplace and a high energy classification in the segment of detached and semi-detached houses. In the first half of 2022, the average asking price for detached and semi-detached houses in Cologne was 710,000 euros. This represents an increase of more than 9 percent compared to the previous year. As in the segment for freehold apartments, the districts of Lindenthal and Rodenkirchen, along with the city centre, were also the most expensive districts for detached and semi-detached houses: Here, the average asking prices ranged between 785,000 and approx. 1 million euros. Particularly exclusive residences in very good locations are currently on sale for asking prices of 1.75 to 7.5 million euros. “We are currently noticing a somewhat greater reluctance to buy, but assume that things will naturally settle back down to normal in the medium term. Real estate serves as a safe investment particularly in times of crisis. Not only as a long-term financial asset, but as a place to retreat with emotional returns too,” says Christian Sprave.

As was the case for city locations, market activity in the immediate surrounding region also remained stable in the first six months of 2022, buoyed by an ongoing desire among people to move to the countryside. Nevertheless, prices in these surrounding areas still remain below that of Cologne’s city locations. The highest prices were in Rösrath in the Rheinisch-Bergisch district, with average asking prices of 679,000 euros, followed by Pulheim and Bergisch Gladbach at approx. 630,000 euros.

Outlook: Prices expected to flatline in all locations

The experts at Engel & Völkers are anticipating a flatlining of prices in all Cologne locations for the remainder of the year. The month of June saw a slight drop in asking prices for freehold apartments in Cologne for the first time in years, due to the rise in interest rates. There could therefore be further moderate price corrections, especially in simple and average locations. “Many people acquired homes at top interest rates a few years ago and now have to budget more for follow-up loans. That said, the current interest rate is still relatively low when compared historically, meaning that seriously interested buyers now have opportunities to acquire properties that were more difficult to obtain in recent years due to the sheer number of buyer offers being made,” says Christian Sprave, summing up: “The current market climate is a special one, and long-term forecasts are difficult. Professional advice is therefore highly recommended to both sellers and buyers; it is absolutely necessary to be able to assess the current situation correctly.”

Other trends relating to purchase power and property prices in German cities can be found (in German) in the “Engel & Völkers Market Report for Residential Property in Germany 2020/21”.

Sources: Asking prices: VALUE Marktdatenbank, Gutachterausschuss Köln

Charming old villa on park-like property in Rondorf

Built in 1920, this old villa in Cologne Rondorf impresses with its classic architecture and is for sale for 2.3 million euros. The former rectory extends over a plot of around 1,523 square meters and offers plenty of privacy and space to relax. The 321 square meters of living space with eight rooms reflects the representative residential character of the property. A special highlight is the spacious park-like garden. (Image source: Engel & Völkers Köln-Rodenkirchen)

Modern old-building apartment in the Belgian Quarter

This bright two-room apartment with its own terrace is located in a listed former backyard-building from 1900 and is marketed by Engel & Völkers for 520,000 euros. In 2013, the property was extensively renovated using high-quality materials. Thanks to solid wood parquet flooring, listed wooden windows and an open kitchen-living area, modern design and old building charm are cleverly combined. (Image source: Engel & Völkers Köln City)

copyright: Image source: Engel & Völkers Köln City

28 August, 2022/by Maria G

ARQUITECTURA, Casas, Inmobiliaria

Cologne property market: Prices level out at a high

Average asking prices of 1 million euros in Lindenthal
Cologne most favourably priced city in “Top 7” national comparison
Energy-efficient new buildings in particularly high demand

Hamburg, 18 August 2022. With a population of more than one million, Cologne is one of the largest cities in Germany – after Berlin, Hamburg and Munich. The cathedral city on the River Rhine is one of the most sought-after residential locations in the Federal Republic, thanks to the high quality of life it offers, and its importance as a centre of business, research and education. “In spite of interest rate increases and inflation, the level of demand for property in the city and the surrounding region is constant,” says Christian Sprave, Managing Director of Engel & Völkers Cologne, adding: “Real estate remains a crisis-proof investment with high value retention. There is also a lack of attractive and reliable investment alternatives. Energy-efficient new buildings in Cologne’s city centre are in especially high demand at the moment.”

Freehold apartments: City centre is most expensive and desirable location

Average asking prices for existing freehold apartments rose to 5,153 euros per square metre in H1 2022, marking an 8 percent increase over the previous year (H1 2021: 4,771 euros per square metre). Comparatively speaking, Cologne remains the lowest-priced of Germany’s “Top 7” cities. With average asking prices of 6,817 euros per square metre, the city centre ranks among the most sought-after and expensive addresses for freehold apartments, followed by the districts of Rodenkirchen and Lindenthal with average asking prices of between 5,279 and 5,607 euros per square metre. Premium properties in very good locations can reach top prices of up to 20,000 euros per square metre.

The segment for newly constructed freehold apartments saw an even sharper price rise – to an average of 7,037 euros per square metre in the first half of 2022, marking an 11.4 percent increase over the previous year (H1 2021: 6,317 euros per square metre). “We’re seeing a strong demand for new builds that are particularly well insulated and energy-efficient. These have become more important criteria for buyers, in light of the upcoming winter and uncertainty surrounding the gas supply. However, increased construction costs, labour shortages and global supply chain problems have meant that there have been delays in the completion of many new buildings. The availability of such properties on the market is hardly increasing at all as a result, and prices are levelling out,” says Christian Sprave.

Detached and semi-detached properties: Moderate price rises in H1 2022

Prospective buyers are also focusing their attention on features such as insulation, a fireplace and a high energy classification in the segment of detached and semi-detached houses. In the first half of 2022, the average asking price for detached and semi-detached houses in Cologne was 710,000 euros. This represents an increase of more than 9 percent compared to the previous year. As in the segment for freehold apartments, the districts of Lindenthal and Rodenkirchen, along with the city centre, were also the most expensive districts for detached and semi-detached houses: Here, the average asking prices ranged between 785,000 and approx. 1 million euros. Particularly exclusive residences in very good locations are currently on sale for asking prices of 1.75 to 7.5 million euros. “We are currently noticing a somewhat greater reluctance to buy, but assume that things will naturally settle back down to normal in the medium term. Real estate serves as a safe investment particularly in times of crisis. Not only as a long-term financial asset, but as a place to retreat with emotional returns too,” says Christian Sprave.

As was the case for city locations, market activity in the immediate surrounding region also remained stable in the first six months of 2022, buoyed by an ongoing desire among people to move to the countryside. Nevertheless, prices in these surrounding areas still remain below that of Cologne’s city locations. The highest prices were in Rösrath in the Rheinisch-Bergisch district, with average asking prices of 679,000 euros, followed by Pulheim and Bergisch Gladbach at approx. 630,000 euros.

Outlook: Prices expected to flatline in all locations

The experts at Engel & Völkers are anticipating a flatlining of prices in all Cologne locations for the remainder of the year. The month of June saw a slight drop in asking prices for freehold apartments in Cologne for the first time in years, due to the rise in interest rates. There could therefore be further moderate price corrections, especially in simple and average locations. “Many people acquired homes at top interest rates a few years ago and now have to budget more for follow-up loans. That said, the current interest rate is still relatively low when compared historically, meaning that seriously interested buyers now have opportunities to acquire properties that were more difficult to obtain in recent years due to the sheer number of buyer offers being made,” says Christian Sprave, summing up: “The current market climate is a special one, and long-term forecasts are difficult. Professional advice is therefore highly recommended to both sellers and buyers; it is absolutely necessary to be able to assess the current situation correctly.”

Other trends relating to purchase power and property prices in German cities can be found (in German) in the “Engel & Völkers Market Report for Residential Property in Germany 2020/21”.

Sources: Asking prices: VALUE Marktdatenbank, Gutachterausschuss Köln

Charming old villa on park-like property in Rondorf

Built in 1920, this old villa in Cologne Rondorf impresses with its classic architecture and is for sale for 2.3 million euros. The former rectory extends over a plot of around 1,523 square meters and offers plenty of privacy and space to relax. The 321 square meters of living space with eight rooms reflects the representative residential character of the property. A special highlight is the spacious park-like garden. (Image source: Engel & Völkers Köln-Rodenkirchen)

Modern old-building apartment in the Belgian Quarter

This bright two-room apartment with its own terrace is located in a listed former backyard-building from 1900 and is marketed by Engel & Völkers for 520,000 euros. In 2013, the property was extensively renovated using high-quality materials. Thanks to solid wood parquet flooring, listed wooden windows and an open kitchen-living area, modern design and old building charm are cleverly combined. (Image source: Engel & Völkers Köln City)

copyright: Image source: Engel & Völkers Köln City

28 August, 2022/by Maria G

ARQUITECTURA, Casas, Inmobiliaria

Mercado inmobiliario de Colonia: los precios se estabilizan en un nivel alto

Precio medio de venta de 1 millón de euros en Lindenthal
Colonia ciudad con el precio más favorable en la comparación nacional “Top 7”
Los nuevos edificios energéticamente eficientes tienen una demanda particularmente alta

Hamburgo, 18 de agosto de 2022. Con una población de más de un millón, Colonia es una de las ciudades más grandes de Alemania, después de Berlín, Hamburgo y Múnich. La ciudad catedralicia a orillas del Rin es uno de los lugares residenciales más buscados de la República Federal, gracias a la alta calidad de vida que ofrece y su importancia como centro de negocios, investigación y educación. “A pesar de los aumentos de las tasas de interés y la inflación, el nivel de demanda de propiedades en la ciudad y la región circundante es constante”, dice Christian Sprave, Director General de Engel & Völkers Colonia, y agrega: “Los bienes raíces siguen siendo una inversión a prueba de crisis. con alta retención de valor. También faltan alternativas de inversión atractivas y confiables. Los nuevos edificios energéticamente eficientes en el centro de la ciudad de Colonia tienen una demanda especialmente alta en este momento”.

Apartamentos de dominio absoluto: el centro de la ciudad es la ubicación más cara y deseable

Los precios promedio de venta de los apartamentos de dominio absoluto existentes aumentaron a 5153 euros por metro cuadrado en el primer semestre de 2022, lo que representa un aumento del 8 por ciento con respecto al año anterior (primer semestre de 2021: 4771 euros por metro cuadrado). En términos comparativos, Colonia sigue siendo la ciudad con el precio más bajo de las “7 mejores” ciudades de Alemania. Con precios de venta promedio de 6.817 euros por metro cuadrado, el centro de la ciudad se encuentra entre las direcciones más buscadas y caras para apartamentos de dominio absoluto, seguido por los distritos de Rodenkirchen y Lindenthal con precios de venta promedio de entre 5.279 y 5.607 euros por metro cuadrado. Las propiedades premium en muy buenas ubicaciones pueden alcanzar precios máximos de hasta 20.000 euros por metro cuadrado.

El segmento de apartamentos de nueva construcción experimentó un aumento de precios aún más pronunciado: a un promedio de 7.037 euros por metro cuadrado en la primera mitad de 2022, lo que representa un aumento del 11,4 por ciento con respecto al año anterior (primer semestre de 2021: 6.317 euros por metro cuadrado). “Estamos viendo una fuerte demanda de nuevas construcciones que estén particularmente bien aisladas y sean energéticamente eficientes. Estos se han convertido en criterios más importantes para los compradores, a la luz del próximo invierno y la incertidumbre que rodea el suministro de gas. Sin embargo, el aumento de los costos de construcción, la escasez de mano de obra y los problemas de la cadena de suministro global han significado que ha habido retrasos en la finalización de muchos edificios nuevos. Como resultado, la disponibilidad de tales propiedades en el mercado apenas aumenta y los precios se están estabilizando”, dice Christian Sprave.

Viviendas unifamiliares y pareadas: Moderadas subidas de precios en el 1S 2022

Los posibles compradores también están centrando su atención en características como el aislamiento, la chimenea y una clasificación energética alta en el segmento de viviendas unifamiliares y pareadas. En la primera mitad de 2022, el precio medio de venta de viviendas unifamiliares y adosadas en Colonia fue de 710.000 euros. Esto representa un aumento de más del 9 por ciento en comparación con el año anterior. Al igual que en el segmento de apartamentos de propiedad absoluta, los distritos de Lindenthal y Rodenkirchen, junto con el centro de la ciudad, también fueron los distritos más caros para viviendas unifamiliares y adosadas: aquí, los precios de venta promedio oscilaron entre 785.000 y aprox. 1 millón de euros. Residencias particularmente exclusivas en muy buenas ubicaciones están actualmente a la venta por precios de venta de 1,75 a 7,5 millones de euros. “Actualmente estamos notando una reticencia algo mayor a comprar, pero asuma que las cosas naturalmente volverán a la normalidad en el mediano plazo. Los bienes raíces sirven como una inversión segura, particularmente en tiempos de crisis. No solo como un activo financiero a largo plazo, sino también como un lugar para retirarse con retornos emocionales”, dice Christian Sprave.

Al igual que en el caso de las ubicaciones en la ciudad, la actividad del mercado en la región circundante inmediata también se mantuvo estable en los primeros seis meses de 2022, impulsada por el deseo continuo de la gente de mudarse al campo. Sin embargo, los precios en estas áreas circundantes aún se mantienen por debajo de los de las ubicaciones de la ciudad de Colonia. Los precios más altos estaban en Rösrath en el distrito de Rheinisch-Bergisch, con precios de venta promedio de 679 000 euros, seguido de Pulheim y Bergisch Gladbach con aprox. 630.000 euros.

Perspectiva: se espera que los precios se estabilicen en todas las ubicaciones

Los expertos de Engel & Völkers prevén un estancamiento de los precios en todas las ubicaciones de Colonia para el resto del año. El mes de junio vio una ligera caída en los precios de venta de apartamentos de propiedad absoluta en Colonia por primera vez en años, debido al aumento de las tasas de interés. Por lo tanto, podría haber más correcciones de precios moderadas, especialmente en ubicaciones simples y promedio. “Muchas personas adquirieron viviendas a las mejores tasas de interés hace unos años y ahora tienen que presupuestar más para préstamos de seguimiento. Dicho esto, la tasa de interés actual sigue siendo relativamente baja en comparación históricamente, lo que significa que los compradores seriamente interesados ahora tienen oportunidades de adquirir propiedades que fueron más difíciles de obtener en los últimos años debido a la gran cantidad de ofertas de compradores que se han hecho”, dice Christian Sprave. , Resumiendo: “El clima actual del mercado es especial y los pronósticos a largo plazo son difíciles. Por lo tanto, se recomienda encarecidamente el asesoramiento profesional tanto para vendedores como para compradores; es absolutamente necesario para poder evaluar correctamente la situación actual”.

Otras tendencias relacionadas con el poder adquisitivo y los precios inmobiliarios en las ciudades alemanas se pueden encontrar (en alemán) en el “Informe de mercado de Engel & Völkers para propiedades residenciales en Alemania 2020/21” .

Fuentes: precios de venta: base de datos de mercado VALUE, comité de expertos de Colonia

Encantadora villa antigua en una propiedad similar a un parque en Rondorf

Construida en 1920, esta antigua villa en Colonia Rondorf impresiona por su arquitectura clásica y está a la venta por 2,3 millones de euros. La antigua rectoría se extiende sobre un terreno de unos 1.523 metros cuadrados y ofrece mucha privacidad y espacio para relajarse. Los 321 metros cuadrados de espacio habitable con ocho habitaciones reflejan el carácter residencial representativo de la propiedad. Un punto culminante especial es el amplio jardín tipo parque. (Fuente de la imagen: Engel & Völkers Köln-Rodenkirchen)

Apartamento moderno de construcción antigua en el Barrio Belga

Este luminoso apartamento de dos habitaciones con terraza propia se encuentra en un antiguo patio trasero catalogado de 1900 y lo comercializa Engel & Völkers por 520.000 euros. En 2013, la propiedad fue completamente renovada utilizando materiales de alta calidad. Gracias al suelo de parquet de madera maciza, las ventanas de madera catalogada y la cocina abierta, el salón combina de forma inteligente el diseño moderno y el encanto de un edificio antiguo. (Fuente de la imagen: Engel & Völkers Köln City)

copyright: Fuente de la imagen: Engel & Völkers Ciudad de Colonia

28 August, 2022/by Maria G

Cologne property market: Prices level out at a high

Cologne property market: Prices level out at a high

Charming old villa on park-like property in Rondorf

Modern old-building apartment in the Belgian Quarter

Cologne property market: Prices level out at a high

Cologne property market: Prices level out at a high

Charming old villa on park-like property in Rondorf

Modern old-building apartment in the Belgian Quarter

Cologne property market: Prices level out at a high

Cologne property market: Prices level out at a high

Charming old villa on park-like property in Rondorf

Modern old-building apartment in the Belgian Quarter

Mercado inmobiliario de Colonia: los precios se estabilizan en un nivel alto

Mercado inmobiliario de Colonia: los precios se estabilizan en un nivel alto

Encantadora villa antigua en una propiedad similar a un parque en Rondorf

Apartamento moderno de construcción antigua en el Barrio Belga

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Cologne property market: Prices level out at a high

Cologne property market: Prices level out at a high

Cologne property market: Prices level out at a high

Mercado inmobiliario de Colonia: los precios se estabilizan en un nivel alto

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