Berlin, October 1, 2020 – After sales of condominiums declined in 2018, more units were sold again in the Rhine-Main region in 2019. This is the finding of the 13th ACCENTRO Homeownership Report, which analyzed data from the appraisal committees of 82 major German cities. In total, 7,434 condominiums were sold in 2019 in the cities of Frankfurt am Main, Wiesbaden, Mainz, Darmstadt, and Offenbach am Main—149 more than in the previous year. With the exception of Offenbach am Main (-6.3 percent), all major cities in the Rhine-Main region saw an increase in sales, thus following the positive nationwide trend. While sales figures in Frankfurt remained stable at the previous year’s level (+0.99 percent), Wiesbaden (+8.17 percent) saw the strongest increase in condominium sales. Sales revenue rose in all of the major cities mentioned in the Rhine-Main region. Frankfurt leads the way with 1.59 billion euros in condominium sales revenue. However, in the nationwide ranking of the top 7 cities, sales in Frankfurt am Main rose the least compared to the previous year (+0.02 percent). A ten-year comparison of the top 7 cities from 2009 to 2019 shows that only in Berlin (+242 percent) did sales rise even more sharply than in Frankfurt am Main (+171 percent).
“The data from this year’s ACCENTRO Homeownership Report clearly shows how much the cities of Offenbach am Main, Mainz, Darmstadt, and Wiesbaden benefit from their proximity to and the appeal of Frankfurt,” says Lars Schriewer, Chairman of ACCENTRO Real Estate AG. “Many people work in Frankfurt but cannot find housing there, or they prefer to live outside the city and therefore commute daily between Frankfurt and the surrounding area,” explains Schriewer.
More New-Construction Sales Than Last Year, with Only Offenbach Seeing a Decline
A closer look at the sales figures for new-construction units shows that, while all Rhine-Main cities—with the exception of Offenbach, which ranked 39th with 198 new-construction units sold (-4.81 percent)—saw an increase in absolute sales figures, only Frankfurt (+5.96 percent), with 1,528 new homes sold and ranked fourth, and Mainz (+13.8 percent), with 371 new homes sold and ranked 14th, managed to secure spots at the top of the rankings. Meanwhile, Wiesbaden (+55.77 percent) with 243 new homes and Darmstadt (+33.59 percent) with 175 new apartments ranked only 27th and 42nd, respectively. In terms of sales per 1,000 residents—a figure that further underscores a region’s attractiveness—Mainz is the highest-ranked city at No. 19, with 5.61 apartments per 1,000 residents.
Rhine-Main Cities Are Among the Most Expensive in Germany
As in 2018, the five largest cities in the Rhine-Main region are once again among the most expensive cities for purchasing condominiums in 2019. On average, an apartment in Frankfurt am Main costs 421,254 euros, placing the Main metropolis in third place in the Germany-wide ranking. Wiesbaden follows in seventh place (321,892 euros), Darmstadt in twelfth place (291,021 euros), Mainz (286,705 euros) in 13th place, and Offenbach (266,372 euros) in 18th place. While the price of an apartment in Frankfurt am Main has fallen by 0.96 percent compared to the previous year, prices in Wiesbaden, Darmstadt, Mainz, and Offenbach have risen.
About the ACCENTRO Homeownership Report
ACCENTRO Real Estate AG has published its Homeownership Report for the thirteenth time. This year, the Homeownership Report was produced for the first time in cooperation with the German Economic Institute (IW). The analysis is based on homeownership transactions from the 2019 reporting year in all 82 major German cities. By drawing on data from appraisal committees, the report differs significantly from similar publications, which are usually based on expert estimates or the analysis of listing data. Detailed results from the 13th ACCENTRO Homeownership Report on Germany’s ten most populous cities and developments over the past twelve years are also available online in the ACCENTRO database and can be filtered individually: https://accentro.de/wohneigentumsreport
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is a residential real estate investor and the market leader in residential privatization in Germany. As of December 31, 2020, its real estate portfolio comprised approximately 5,200 units. In addition to Berlin, its regional focus includes major East German cities and metropolitan areas, as well as the Rhine-Ruhr metropolitan region and Bavaria. ACCENTRO’s business activities encompass four core areas. These include the tenant-oriented sale of apartments to owner-occupiers and private investors, the sale of real estate portfolios to institutional investors, the development and management of its own real estate portfolio, and the marketing of apartments for property owners, investors, and project developers. The shares of ACCENTRO Real Estate AG are listed on the Prime Standard of the Frankfurt Stock Exchange (WKN: A0KFKB, ISIN: DE000A0KFKB3). investors.accentro.de
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