Pioneer City of the Global Automotive Industry
Discover Stuttgart's Real Estate
Stuttgart is among the most famous and the biggest German cities. It is the capital city of Baden-Wurttemberg, a German federal state. The total population of Stuttgart is approximately 635,000 and has a landmass area of about 207.36 square kilometers.
Culture, History, and Business
The city of Stuttgart was founded in the tenth century. Stuttgart became a hub for the wine industry and hence obtained the civic rights after passing over to the Wurttemberg counts within the 13th century. By 1320, It has quickly become the most famous resident of the counts. The city grew and thrived, and by 1482, it was named the capital of Wurttemberg duchy, county, state, and kingdom.
The early seventeenth-century war between and, the French invasion in the latter years of the same century saw Stuttgart’s popularity declined. Stuttgart rose again and saw significant expansion during the time of the Industrial Revolution in the nineteenth century. It is now a huge industrial area with airports, ports, rail routes, and is home to many industries like laser technology, electrical engineering firms, auto manufacturing, robotics, fuel cells, etc.
It is known for its automobile industry as Daimler AG, and Porsche has its home in this city. It is also popular as a high-tech industry thanks to the presence of IBM, Hewlett Packard, Sika, and Bosch that has its European headquarters in Stuttgart. The city plays host to Stuttgart Trade Fair, the ninth-largest German exhibition center. Stuttgart’s overall GDP is €33.9 billion, with the service sector, industry, and agriculture contributing 65.3%, 34.5%, and 0.2%, respectively. According to Mercer, the city and metro area are constantly in the top 20 EU metro areas by GDP. The city’s purchasing power parity per capita and nominal GDP per capita are €55,400 and €57,100, respectively.
Real Estate Appeal
According to JJL, Stuttgart residential profile for the first half of 2019, showed the average letting rent has increased by 1% in the first half of 2019 when compared to the same time in 2018 and is now €14.55 per square meter a month. The average purchase price of a condominium is €4460 per sq. meter, a 5% increase compared to 2018.
Recently, rental yields at the city center are at a rate of 3.30% while outside the city center is 3.73%. The cost of renting a one-bedroom in the city center and outside the city is €903.57 and €723.33, respectively. Similarly, the cost of renting a three-bedroom in the city center and outside the city is €1,699.62 and €1,284.78, respectively. The cost of an apartment in the city center is €6,103.12 per sq. meter while outside the city center cost €4,205.56 per sq. Meter. For details of why you should consider investing and the hottest neighborhoods, see our subsequent related articles.
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