Frankfurt Property Market and Real Estate Guide
(Frankfurt am Main, Hesse, Germany)
Frankfurt is Germany's main powerhouse and lies in the west of the country, in the Hesse region. It is a busy place of large banks and international trade fairs and is also a popular tourist magnet. Property here is expensive on a German-wide scale, yet not prohibitively so and is certainly cheaper than in Munich
The city lies on the Main River (hence the title, Frankfurt am Main) and is divided into nine districts. The city centre (the Altstadt) is where it's at for tourists and renters, while interesting neighbourhoods to buy in are Bornheim, Bockenheim and Sachsenhausen.
Most of the real estate in Frankfurt is studios and apartments, which are a good investment for those with an idea to buy-to-let.
Renting Serviced Apartments
Frankfurt is one of the most expensive places in Germany for renting serviced apartments. Most apartments come unfurnished, but you can always find serviced ones through local real estate agents. They generally want two or three months' deposit and offer a lease of six or 12 months, yet monthly deals can also be had.
Expect a fully fitted kitchen with fridge, stove and microwave, seating and a TV in the living room, as well as a washer / drier in a utility room. Ask about who pays the service charges for building maintenance.
Buying Apartments and Houses
Frankfurt is a good investment as property prices here have faired quite well on a national scale. Detached houses are had at a premium and generally reside in the outskirts, while central apartments are also quite pricey.
Foreigners can purchase apartments, houses and land in Frankfurt without hindrance. It is best to go through a real estate agent (immobilienmakler) as property laws will be fully explained. Expect to pay around 10 or 12 percent on top for service charges and taxes - minus about six percent if you avoid an estate agent.
Real Estate Agents
Real estate agents in Germany are known as 'immobilienmakler' and are best used by those with no German-speaking skills or knowledge of German property law. Estate agent fees can add up to half of the cost of the overall exchange and are payable by the buyer, although you can negotiate a rate.
A few examples of Frankfurt real estate agents:
Address: Fraunhoferstrasse 2, Munich, D-80469, Germany
Tel: +49 01803 136 999
Featuring serviced apartments in many major cities throughout Germany including Frankfurt.
Noor Immobilien AG
Address: Meisengasse 11, Frankfurt am Main, D-60313, Germany
Tel: +49 069 204 010
Featuring years of experience in dealing in the Frankfurt property market, Noor is renowned for its multilingual, professional consultants.
Address: Hansaallee 2, Frankfurt am Main, D-60322, Germany
Tel: +49 069 299 050
City Residence has a large portfolio of furnished studios and apartments in the city and the Rhine-Main region at large.