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Property prices Düsseldorf

Whether during the carnival or in sporting or economic terms: the cities of Düsseldorf and Cologne are still considered rivals even today. In some respects, however, the Rhine metropolises also have some things in common: for example, both cities are among the municipalities with the highest property price levels in Germany, alongside Hamburg, Berlin, Stuttgart, Munich and Frankfurt am Main. 

The fact that the state capital of North Rhine-Westphalia is so popular as a residential location is certainly also due to the high quality of life it offers. In various rankings for the assessment of economic strength and sustainability, Düsseldorf repeatedly occupies one of the top positions. This makes it interesting both for investors and owner-occupiers. Current insights into the development of Düsseldorf property prices, rental rates and the most sought-after districts for tenants and buyers can be found in our market analysis:

1. Developments on the Düsseldorf property market

As one of the most sought-after residential locations in Germany, Düsseldorf has been experiencing continuous population growth for years. More than 645,000 people currently live in the Rhine metropolis, which is 4.2 percent more than in 2014. Real estate prices are also developing correspondingly positively. Thanks to good economic fundamentals and consistently high demand, Düsseldorf is popular with capital investors. Although there is a very high demand for properties in the mid-price segment, many new construction projects are currently being realised in the upmarket segment. Many potential buyers are therefore now looking around in the less expensive peripheral locations in the Düsseldorf area. 

The high demand for property in the city is also reflected in the vacancy rate. Only 1.4 percent of available apartments in Düsseldorf are currently unused.

2. Current rental prices in Düsseldorf

Both for new construction projects and for existing properties, rents in Düsseldorf are rising for several years. In comparison to other German cities such as Berlin, where the price level rose by +8 percent within a year in some cases, the price curve in the Rhine city is somewhat flatter.

In 2020, tenants of an existing property in Düsseldorf paid an average of 11.34 euros per square metre of living space. This means that the increase in rent was +3.75 percent compared to the previous year. Looking at the increase over the past five years, the rent level rose by +14.89 percent.

Rents for new buildings in Düsseldorf are also rising slightly. Between 2019 and 2020, rents for such properties rose by +2.57 percent to an average square metre price of 13.98 euros. Viewed over a five-year period, the increase in the average offered rent for new buildings was +10.8 percent.

3. Düsseldorf property prices for condominiums

Good yields and constant growth in value make the purchase of a condominium in Düsseldorf particularly attractive for capital investors - both for existing and newly built properties.

Last year, buyers paid an average offer price of 4,459 euros per square metre for an existing property. This corresponds to a growth of +6.17 percent compared to 2019, and in the past five years, such condominiums have even recorded a growth in value of +42.73 percent.

New construction projects in this sub-market are also experiencing constant growth in price levels. Buyers of a newly built condominium in Düsseldorf paid average square metre prices of 7,298 euros last year, which represents an increase of +9.35 percent compared to the previous year. The increase in value over the past five years was +43.21 percent.

4. Düsseldorf property prices for single-family homes and apartment buildings

Düsseldorf also occupies one of the top positions in terms of average property prices for single-family homes. The average offer price last year was 1.14 million euros. This represents an increase in purchase prices of +14.7 percent compared to the first half of 2019.

Düsseldorf property prices for apartment buildings

Düsseldorf's market for investment properties such as residential and commercial buildings and apartment blocks has been very popular for years. The average asking price in the first half of 2019 was 3,343 euros per square metre. Prices and coefficients are currently continuing to rise, especially in Düsseldorf's secondary locations. Transaction figures, rents, prices and factors can be found in detail in our Residential and Commercial Property Market Report 2020.

5. Düsseldorf property prices by district

In order to be able to better assess the price dynamics of Düsseldorf's property market, it is worth taking a look at the various locations the city has to offer. These divide the individual districts into very good, good, mid-range and secondary locations. 

Very good Location

Düsseldorf's districts in very good locations are mainly spread over the city centre and northern peripheral areas. Specifically, Düsseltal, Golzheim, Niederkassel, Oberkassel, Carlstadt, Meerbusch, Ratingen-Lintorf, Ratingen-Hösel, Wittlaer and Kaiserswerth fall into this category. With a price range of between 3 million euros and 8 million euros, local single- and two-family homes have the highest level in the Rhine metropolis. Currently, Engel & Völkers assumes that asking prices in these districts will remain stable. The same applies to the price development of the condominiums there, which currently achieve square metre prices between 11,000 and 15,000 euros.  Square metre prices of between 3,000 and 4,700 euros are being asked for apartment buildings. 

Good Location

Districts in good locations include Hubbelrath, Ludenberg, Hamm, Unterbilk, Pempelfort, Stockum, Kalkum, Unterbach and Angermund. Buyers pay between 1,8 million euros and 3 million euros for a single- or two-family home in these districts. The price range for condominiums is between 8,000 euros and 11,000 euros. As in the case of the very good locations, Engel & Völkers is currently assuming that asking prices will remain stable in these districts as well. Square metre prices between 2,400 and 3,400 euros are being asked for residential and commercial buildings in Düsseldorf.

Mid-range Location

Districts in mid-range locations are mainly located in the city centre, but occasionally also in the south or in the immediate vicinity of the Rhine. Volmwerswerth, Bilk, Lohausen, the city centre, Derendorf, Mörsenbroich, Unterrath, Gerresheim and Vennhause, among others, belong to this location category. In these districts of Düsseldorf, investors pay average asking prices between 1 million euros and 1.5 million euros for single and two-family homes. Square metre prices for condominiums range between 5,000 euros and 6,000 euros. A positive property price development is expected in the future for both property types. For residential and commercial buildings, square metre prices between 2,100 and 2,650 euros are being asked. 


Secondary Location

Secondary locations mainly include districts south of the city centre. Oberbilk, Lierenfeld, Eller, Hassels, Wersten, Holthausen, Garath and Hellerhof belong to this category. On average, these districts have the lowest price level in Düsseldorf: single and two-family homes in this location cost between 600,000 and 900,000 euros. The local condominiums also achieve a moderate price range between 2,600 euros and 3,500 euros per square metre. However, even in these secondary locations, property prices are expected to rise in the future. Property prices for apartment buildings already start at 1,600 to 2,200 euros per square metre.

6. Forecast of Düsseldorf property prices

The Düsseldorf real estate market is currently characterised by a high degree of dynamism. Birgit Pfeiffer of Engel & Völkers Düsseldorf forecasts:

"With regard to the early easing of restrictions during the pandemic, demand has increased significantly. As long as the buyer is not dependent on any financing, the sales procedure is speedy. If financing is requested, the banks' behaviour is very restrictive and leads to great uncertainty. We are sure that the real estate market in Düsseldorf will remain stable and that the supply of valuable properties will also increase.

Property prices

You can obtain even more in-depth insights into the residential property market of the 61 most important cities in Germany in our current Residential Property Market Report for Germany 2019/2020 or in a personal meeting with Germany’s fairest real estate broker. We look forward to hearing from you.

Marc Müller-Kurzwelly of Engel & Völkers Commercial Düsseldorf classifies the market for residential and commercial properties as follows: "The housing stock of the 50s and 60s in Düsseldorf is increasingly facing competition from recently completed new buildings. These offer potential tenants more comfort (underground car park, lift, balconies, etc.) In addition, the tightening of the Energy Saving Ordinance (EnEV) and the cap on rent increases for owners of older properties bring with it new tasks, some of which entail unplanned investments. On the buyer side, the interest of domestic investors with a good credit rating to invest in the state capital Düsseldorf predominates.”

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Property prices in Germany

Current developments on the Düsseldorf property market: City of Düsseldorf, CBRE-empricia vacancy index, Engel & Völkers Residential, Engel & Völkers Commercial

Current rental prices in Düsseldorf: empirica-systeme, Engel & Völkers Residential

Düsseldorf property prices for condominiums: empirica-systeme, Engel & Völkers Residential

Düsseldorf property prices for single-family homes: empirica-systeme, Engel & Völkers Residential

Düsseldorf property prices for apartment buildings: empirica-systeme, Engel & Völkers Commercial

Düsseldorf property prices by district: Engel & Völkers Residential, Engel & Völkers Commercial