Condominium as Buy-to-Let Investment in Cologne
Cologne is a young city, the age average of its population being 42, and in sync with its steady growth it is also expanding its position as a city of more than a million. With the growth comes a rise in demand that is proving impossible to meet. Not least, the growth is driven by a high number of new arrivals while the natives of Cologne rarely move away. Accordingly, the city has a rather low fluctuation rate. All of this is impacting the performance of the housing market. The consequence is—just like in most of the country’s metropolises—an increase in property rents and prices, especially in the coveted inner-city locations and adjacent sub-districts.
The attractiveness of Cologne is attributable to a number of factors. For one thing, there is its optimal location in a green setting while being connected to all major modes of transportation. Economically, Cologne benefits from its great industrial diversity. While the service sector takes the lead, the automotive industry also plays a key role, as does the media industry. Sound reasons, therefore, why Cologne ranges close to the top of the popularity ranking and why it is one of Germany’s “Big Seven” cities.
The metropolis on the Rhine has also registered a reassuring level of investment activity. At the very forefront are major corporates like UPS and Ford. Other commercial heavyweights in the region are Eurowings, PSA Peugeot Citroen, the Eifeltor freight centre, the ports and marshalling yards, Lanxess and the German Aerospace Centre (DLR).
Cologne also looks back on a long tradition as TV hub, with a third of all German TV programs produced here. It is home to the WDR public broadcasting system, to the RTL family of private TV stations as well as to an entire network of renowned production firms and highly specialised service providers, making the city the leading TV production hub in Germany.In fact, Cologne plays a pioneering role for the media sector even on the European level. The city on the Rhine hosts not just a large number of major media companies that attract young talent and other companies but also the internationally esteemed Academy of Media Arts and the HMKW University of Applied Sciences for Media, Communication and Management. Creative media professionals in the film and TV sector use both the renowned MMC studios and the streets of Cologne as sets.
Financial Investment in Cologne: Your Condominiums in Cologne-Niehl
In Niehl, a sub-district of the Nippes borough that borders on the north end of the inner city, lies this peaceful residential complex with its well-appointed 2-bedroom flats on a dwelling floor area of 47 square metres each and 3-bedroom flats with footprints of roughly 67 square metres. The multi-unit dwellings on Schlenderhaner Strasse are surrounded by plenty of greenery and optimally integrated into the public transport system. The well-maintained buildings are home to a loyal community of tenants who feel very much at home in their quarter. Balconies or patios with access to a garden section supplement the convenient layout of the flats and create a pleasant ambience. They provide another great way to take it easy in a peaceful setting.
The superb location of Nippes has caused the population of this borough to grow faster than the rest of the city. Indeed, the popularity of the quarter has remained more or less immune against the prices on the housing market. As far as rents go, Nippes and all of its sub-districts also range close to the top of the list with rent level upward of 10 euros per square metre.
Acquiring a condominium in Cologne is therefore a buy-to-let investment of lasting value. Do give us a call – we will gladly advise you!