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Düsseldorf: Serviced apartments are the latest trend in the Rhine metropolis

When we hear the term “modern high-rise construction,” many of us immediately think of metropolises such as Frankfurt or Berlin. However, other cities, such as Düsseldorf, are becoming increasingly interested in this form of living. Investors prick up their ears when they hear about high-rise projects in attractive locations. In addition to offices and hotels, a new residential project, Win Win, is being built in Medienhafen, a location familiar to many thanks to the striking facades of the Gehry buildings. In the very near future, two 60-meter-high towers will house residential units in a popular waterfront location. According to one study, a total of six high-rise building projects are set to be developed in the Rhine metropolis by 2020.

 

The two neighboring residential towers could well become the latest eye-catchers in Medienhafen. Residents will enjoy magnificent views of the Rhine and the harbor from each of the 19 floors. The twin towers offer almost 400 studio and serviced apartments with up to three rooms in an intelligently designed building. Business travelers in particular are looking for special features such as a concierge, a gym or a club. Thanks to its central location, residents benefit from excellent transport connections to Düsseldorf’s city center and to Cologne. Given the increase in demand for such forms of housing in Düsseldorf, these units represent an ideal real estate investment. Potential buyer groups also include new arrivals in the city and companies whose employees regularly spend time in the Rhine metropolis.

 

This prosperous city is a great location for high-rise residential buildings. Over the last four years, the population has grown by almost four percent to 640,000 inhabitants. The number of employed people has also risen significantly and the largest percentage of the population is aged between 30 and 50. At the same time, more and more young people are moving to Düsseldorf and the birth rate is also rising again. The Rhine metropolis is an established international business hub and particularly popular with Asians. More than 6,500 Japanese live in the city’s Little Tokyo district. Chinese companies invest more in Düsseldorf than in London or Frankfurt. The proportion of the Chinese population in Düsseldorf is rising.

A large city quarter attracts business travelers and investors

Andreas Quarter is located in the city center, behind a historic facade and not far from Königsallee. It fits seamlessly into this growing and booming state capital, which attracts a truly international clientele. The red clinker stone facade originally comes from the Palace of Justice, which was completed in 1923 and was a landmark of Düsseldorf’s old town. Inside, however, only the wide, Wilhelminian-style staircases now hark back to the original courthouse. Hallways and rooms have been completely redesigned, the symbiosis between modernity and tradition has been preserved. The same is true of the modern, new buildings adjacent to the Palace of Justice, which are architecturally based on the original buildings with bright bricks. Potential buyers can expect comfortable studio apartments as well as a number of light-flooded penthouse apartments. The building comprises a total of 267 residential units. From various roof terraces you have a view of the old town or the Rhine.

 

This new city quarter is one of the largest construction projects in Düsseldorf’s city center in recent years. It is home to sophisticated condominiums, apartments for rent, serviced apartments, a small hotel and conference rooms. The rental and serviced apartments are one to two room units; the condominiums have up to three rooms. The direct surroundings have been made more pedestrian-friendly and greener. In addition, new restaurants are settling around the area.

 

These two new projects are being developed in the Rhine metropolis to cater to a variety of users: Win Win’s modern twin towers and Andreas Quarter in the old town with its attractive selection of housing options. The favorable financing environment makes acquiring a condominium even more appealing, and the value of condominiums continues to rise. Given current market conditions, investors would be well advised to consider buying several studios or apartments. Even in a large city such as Düsseldorf, well-located neighborhoods of this size are not created very often.