A popular tourist destination and cultural hotspot
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Nuremberg, the second largest city in Bavaria, has long been a major center of German history and culture. While the city is probably most famous outside of Germany as the site of the notorious Nazi Party rallies and, after the war, the famous war trials, today it is a hugely popular tourist site. With an old town that ranks among the most beautiful in Germany, Nuremberg attracts visitors from around the world. Its central location in Europe also makes it an important hub for trade and transportation.
Culture, History, and Business
Nuremberg was first mentioned in 1050 as being the site of an Imperial Castle. During the Medieval period, it grew rapidly as a result of being on a number of important trade routes. It was part of the Holy Roman Empire and was considered to be its unofficial capital. During the 15th and 16th centuries, it was one of the most important hubs of the German Renaissance. While its trade declined afterwards, it continued to hold a special place in the German consciousness as a place of national pride. That fact was exploited heavily by the Nazis in the 20th century, who chose the city as the site of their massive propaganda rallies. During World War II, the city suffered extensive bombing, while after the war it was the venue of the Nuremberg Trials that brought Nazi war criminals to justice.
While much of the city was destroyed in the war, it did rebuild. Today, the historic center is one of the most beautiful in Germany and contains many examples of Medieval architecture. As a result, Nuremberg has become a major tourist hub. The information technology sector is also a significant part of the economy, as is the higher education sector.
Real Estate Appeal
Tourism is the most obvious appeal of Nuremberg from a real estate investment perspective. The city is one of the most popular tourist destinations in Germany and has an important airport and extensive rail and road connections. Properties in and around the old town are especially promising for short-term property rentals.
As well, the city has a large student population, with about 100,000 students studying at universities, technical schools, and art and music schools in Nuremberg. Student rentals are among the most reliable type of rental accommodation, making Nuremberg an excellent market if you’re considering properties that appeal to this particular demographic.
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