New builds in Essen
Location and climate
Essen is a city in western Germany (federal state of North Rhine-Westphalia, Rhine-Ruhr region), which has the status of an independent city in the administrative district of Dusseldorf. Essen has a temperate climate with mild winters and cool summers, temperatures are mostly above zero all the time, snow cover and frosts are rare and short-lived.
Buying housing in a new build in Essen is becoming more and more profitable
The federal state of North Rhine-Westphalia became the national leader in terms of direct foreign investment in the amount of 180 billion euros. It has the highest population density among all cities in the country. This is an economically developed region, bordering with the countries of the Benelux customs union (Belgium, the Netherlands, Luxembourg), which also affects the additional influx of people into the cities, including the intensively developing Essen.
Essen is one of the most important economic, industrial and educational centers, where large industrial concerns are based, in particular, the headquarters of the largest German gas supply and gas transmission company E.ON Ruhrgas. The city is a member of the Regional Union of the Rhinelands and the Regional Union of the Ruhr. It is noteworthy that in 2017 the city also received the status of the "green capital of Europe"; the presence of industry does not prevent Essen from being one of the most environmentally friendly cities in Germany.
In 2003, the University of Essen merged with the University of Duisburg, and the new university took the honorable ninth place in the number of students among the universities of the country.
The city railway station is one of the twenty main ones in the country. Public transport is represented by buses and trams. The tram network has underground sections. The city has one of the largest car markets in Europe.
In the last five years alone, housing prices in the federal state have skyrocketed by an average of 44% in response to increased demand. One of the most significant factors affecting prices in Essen was the gap between the number of apartments under construction and the volume of demand. Buying an apartment in Essen in a new build for sale is advantageous, first of all, for the purpose of further renting. Since there are not enough land plots where it would be possible to build residential complexes in Essen, the demand for new housing is high.
Obtaining a permit to build a residential complex usually takes a long time, but measures are being taken for municipalities to process requests in a short time in order to contain the growth of rental rates. Investors who preferred to invest in new builds for sale in the status cities of Cologne and Dusseldorf have been acting more pragmatically lately and are choosing the “golden mean” between prestige and profitability. Essen real estate in the new homes for sale in this sense is an ideal option. The sale of apartments from the developers is carried out in compliance with the legislation, the quality of the objects meets the EU building standards, which is confirmed by customer reviews.
According to the information provided by the real estate search engine GEOLN.COM, the minimum price per square meter of space in a new home from a developer in Essen (handed over in a turnkey condition) is 5,166 USD.
Sights
- Folkwang Art Museum
- House of the Knight Heck
- Huguenpot Castle
- Bomberk water castle
- Grugapark
- Lake Baldeneysee
Conditions for buying apartments in Essen from the developers by foreigners
Foreign investors have the right to purchase real estate without any restrictions or special conditions. They can buy an apartment from a developer in Essen with the same rights as the citizens of the country.
Purchasing an apartment in a new development in Essen represents investors’ balance between status and benefits. The combination of purchase prices (not the most expensive by German standards) and high rental income make the investment decision justified.
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