A city at the heart of Germany’s economic powerhouse
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Dusseldorf is the capital city of the state of North Rhine-Westphalia and the second largest city (after Cologne) in the Rhine-Ruhr metropolitan area, the largest metropolitan area in Germany and one of Europe’s most important economic centers. A city with a long history, today Dusseldorf boasts a strong economy and has many opportunities for real estate investors.
Culture, History, and Business
While Dusseldorf has been home to human habitation since at least Roman times, the first mention of Dusseldorf was in 1135. While a small outpost for a long time, it grew to become an important fortified town on the Rhine. Although it suffered heavy damage during the Napoleonic Wars, it bounced back during the 19th century and became an industrial center. During World War II, the city suffered significant damage from Allied bombing, but it surrendered quickly to Allied troops in large part due to local German anti-Nazi resistance fighters.
After World War II, Dusseldorf quickly became one of Germany’s most important economic centers. While the city itself has just over 617,000 inhabitants, it lies at the center of a larger metropolitan region with more than 10 million residents. It is considered a major hub in Germany for finance, media and telecommunications and its airport is the third busiest in the country. It is also extremely close to other major German cities, such as Cologne, Essen, and Duisburg, and it has a highly developed network of Autobahns, railways, and public transit.
Real Estate Appeal
Dusseldorf’s stable economy means it’s an attractive city both for Germans and recent immigrants, so demand for real estate tends to stay fairly consistent. Real estate prices in Dusseldorf are mostly stable and you won’t see the dramatic increases in value that are common in other large cities, like London or Paris. While that means Dusseldorf has limited potential as a short-term investment if you’re looking to quickly buy and sell, it does offer a safe haven for more long-term investors.
Dusseldorf also has plenty of potential for those looking to invest in the short-term rental market. The city draws many business visitors every year who are looking for places to sleep for a night or two. Furthermore, it was recently ranked as being one of the most tourist-friendly cities in all of Germany. As a result, there is good demand for Airbnbs and short-term rentals, and you could make a decent income from investing in a property in a high-demand, central neighborhood.
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