Location analysis Essen: real estate prices and market forecast
The city of Essen is one of the most attractive locations in the Ruhr area and promises interesting returns. We will show you what to look out for when you buy a property here.
Essen is a big city in the middle of the Ruhr area. The city is divided by the A40, into a richer south of the city and a poorer north. Essen has become known nationally through the Essen-Duisburg University of Applied Sciences as well as several other universities. The restructuring of the Ruhr region has been well managed by Essen by having established numerous companies in the energy and service sector. The cultural life in Essen is known beyond the borders of the Ruhr area through numerous institutions such as the theatre and the Philharmonie, as well as the academy of art.
In Essen live 583,084 inhabitants on an area of 210.34 km2 , which means about 2,772 inhabitants on one km2 come. Population density increased by 0.08 compared to the previous year. Essen is located in the state of North Rhine-Westphalia has reached the status of a major city in 1896.
Essen is close to several motorways: the A 40 (also known as the Ruhr Expressway), the A 42 of the Emscher Expressway, the A 44 and A 52 are directly adjacent to the city. The A2 can also be quickly reached from the city via a federal road. The junction is called Essen/ Gladbeck and is only 2 km from the city of Essen.
The main economic factors in Essen are energy suppliers, media, retail, credit institutions, real estate and the trade fair. The DAX companies E.on, RWE and Thyssen-Krupp are based in Essen. In addition to a few special fairs, the trade fairs of the energy industry attract numerous guests to the city. The unemployment rate in Essen was 10.5 in August 2018. This was above the national average.
Top residential locations are located in the Essen districts of Bredeney, Schuir, Kettwig, Stadtwald, Heisingen or Werden. The vacancy rate in Essen was 3.2 in 2016. To live here, you have to pay rent for an apartment about 7.29 € / m2. This is still relatively inexpensive. But depending on the location of the dwelling, a significant increase is to be expected
There are 34757 single-family houses in Essen. This corresponds to around 40.24 of all residential buildings. 7439 buildings in Essen are detached. This corresponds to 8.61 of all residential buildings.
13175.00 residential buildings are divided into condominiums. That’s 15.25 of all Wohngebäude.Es there are 2995.00 apartments owned by municipalities or municipal housing companies, which corresponds to 3.47 of all dwellings. 15.70 of all apartments in Essen were built before 1919.
From 1950 to 1969 38.29 of all apartments were built. In 2000 or later, 5.65 of all apartments were built.
Find out more about real estate holdings in other cities, such as Mülheim an der Ruhr , Wiesbaden, Gelsenkirchen , Recklinghausen, Dortmund , Berlin, Bochum, Koblenz or Jena
Although the price boosts took place mainly in the well-placed districts of the southern city – already called Werden, Bredeney, Stadtwald, Rüttenscheid and Kettwig – tenants in the northern city could even benefit from discounts. However, prices are also expected to rise in the coming years.
Demand for high-quality housing remains unbroken. Homes with a value of up to one million euros are quickly brought to the man in Essen. As with all major cities in the Ruhr area, many apartments are marketed under the hand, but it is to be expected that a cash-rich clientele will continue to attract to the city in the future, precisely because of the cultural life in the city.
The growth of universities and some business enterprises in Essen is expected to continue to attract cash-rich clients to the city. It is safe to assume that there will continue to be solid returns for real estate investments in Essen in the future.
Do you have any questions or would like to test the real estate franchise?
The E1 Investments concept offers a proven system for the solid development of a business as a broker and owner of a real estate business. E1 Real Estate has the infrastructure and operating systems that enable us to offer first-class services with a team of brokers. You are investing in the market of the future.
| City of | Essen |
|---|---|
| Residents | 583084 |
| Area in km2 | 210.34 km2 |
| Ew./km2 (2016) | 2772 km2 |
| Änd. [] (previous year) | 0,08 % |
| Big city for the first time |
1896 |
| State | of North Rhine-Westphalia |
| Economic focus Energy | utilities, media, retail, credit institutions, real estate, trade fair |
| Unemployment rate | 10.5 (8/2018) |
| Top Residential Areas | Bredeney, Schuir, Kettwig, Stadtwald, Heisingen, Werden |
| Vacancy rate | 3.2 (2014) |
| Rental mirror | (good quality, 60 m2 apartment size) 7,29€ / m2 |
| Buildings with living space and inhabited accommodation inthe al. | 89276 |
| Number of single-family houses (detached buildings, semi-detached houses, terraced houses with exactly 1 apartment; only residential buildings) | 34757 |
| on all residential buildings | 40,24058444 |
| including: in detached building | 7439 |
| on all residential buildings | 8,612645155 |
| Residential buildings below: which are divided into condominiums |
13175 st. 15.25 |
| including: the municipalities or municipal whg. companies belong to |
2995 3.47 |
| construction Residential building built before 1919 | 15.7 |
| Residential building built from 1950 to 1969 | 38.29 |
| Residential building built in 2000 or later | 5.65 |
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Real estate prices analysis for 80 locations throughout Germany
E1 Holding offers location analysis for real estate for almost 100 cities nationwide in all federal states. Our well-trained experts for real estate and investments as well as off-market real estate in various locations and sizes take a professional and authentic look at the real estate market at the respective location. In doing so, we determine realistic and continuously updated real estate prices depending on the market situation as well as a corresponding real estate forecast. We are constantly expanding the list of alphabetically ordered locations and intensively expanding the data base for more and more cities. In addition to investors and investors with budgets of all sizes, our nationwide location analyses are also valuable for housebuilders when deciding on a location. Click here
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