Cologne is a city in Germany, located in the lower reaches of the Rhine River (Cologne Bay). It occupies a temperate climate zone: in winter the temperature rarely drops below zero degrees Celsius, in summer it is warm. Temperatures throughout the year average ten degrees Celsius.
In the city's economy, priority sectors are: mechanical engineering and automotive, oil refining, chemical, food, textile industries, production of building materials and printing products, insurance and media services. The production facilities of such well-known international companies as Microsoft, Ford, Toyota, Lufthansa, Bayer are concentrated in Cologne.
Advantages of living in the city:
- developed economy,
- convenient infrastructure,
- higher than in other cities of the country, the opportunity to find a qualified and well-paid job,
- tourist attraction,
- availability of historical and cultural attractions,
- an effective system of education and medicine.
Attractions:
- City Hall,
- Cologne Cathedral,
- museums: chocolate, cologne, perfume, archeology, Schnutgen, Ludwig, Wallraf-Richartz,
- Augustusburg Palace,
- Weishaus Castle,
- gates: Hanentorburg, St. Severin, Eigelstein
- Bayenturm tower,
- Hohenzollern Bridge,
- Botanical Garden,
- amusement park.
- zoo,
- oceanarium,
- ropeway,
- churches: Apostolic, St. Panteleimon, Big St. Mary and others.
How to profitably buy apartments in Cologne from the owners
The resale market offers a wide selection of elite class apartments, and relatively inexpensive apartments are also presented: studios, one-room and two-room apartments. In recent years, apartment prices have been constantly growing in the city's secondary market and are currently quite high. But if you wish, you can find a budget option and buy an apartment in Cologne inexpensively. Buying an apartment is a profitable investment opportunity. The stability of the economy and the legislation conducive to the development of the market act as a guarantee of reliability when investing funds.
Resale real estate in Cologne is not overvalued, the objects remain of good quality despite the time of construction, they meet international requirements. Buying an apartment is also attractive from a commercial point of view, since the profit from further renting it out is quite high. According to experts, foreigners buying apartments in Cologne account for up to a quarter of all transactions. In the most prestigious areas, this figure reaches thirty to forty percent. Basically, apartments are purchased by citizens of Great Britain, Italy, France.
When choosing an apartment, its location is important, since the infrastructural features of the location are of significant importance (investment for the purpose of renting out, purchasing for life, work, study), and the cost varies accordingly. The closer to the city center, the more expensive real estate becomes. Of course, cheap housing in Cologne is of interest to many buyers who want to get a residence permit here. But with an average income level, it is difficult to purchase a secondary property in the center. In this case, you will have to consider proposals closer to the outskirts.
Renting a home is expensive regardless of where you live. For a year of rent, the amount can be up to fifty thousand euros, therefore, even with small funds, it is better to think about buying a secondary apartment.
The GEOLN.COM real estate website with a convenient search interface helps investors to buy apartments on the secondary market without intermediaries, where you can quickly and conveniently find an option according to the necessary characteristics (a wide selection of offers of verified objects with photos), get expert advice. Owners of investment objects put up their options for sale on the site on their own. The purchase procedure is transparent, regulated in detail by law, which is confirmed by customer reviews.
Prices for apartments in Cologne
The average cost of secondary apartments is 3650 euros per square meter.
The price differentiation is significant:
- one-room apartment with an area of 40 sq.m - 40,000 euros and 140,000 euros,
- two-room, area 50 sq.m - 130,000 euros and 220,000 euros,,
- three-room apartment, area 80 sq.m - 170,000 euros and 510,000 euros.
Buying an apartment in Cologne provides a high rental income, gives you the opportunity to live in an industrial city with a stable economy, where many businessmen, tourists and professionals come to live and work.