Real estate is particularly popular in some districts of Cologne. Many families are moving to the north-west of the city in particular.
(Photo: Unsplash)
Cologne A few weeks ago, Martin Venjakob finally received the building permit for the Simonsveedel in Weidenpesch in the north of Cologne. The regional manager for the Rhineland of the project developer Bonava had to wait a long time, so some interested parties, who are rare in these times anyway, jumped off him. Only now can he really start selling the quarter with a total of 390 apartments, most of which Bonava is building.
It’s a start in difficult times, but Venjakob still wants to build. Because the trend reversal in the real estate market is also clearly evident in Cologne. According to exclusive data from vdp Research, in the first quarter of 2023 alone, prices in the cathedral city fell by 1.5 percent compared to the previous quarter for single and two-family houses to 4960 euros per square meter, for condominiums even more by 2.9 percent to 4870 Euro.
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