Frankfurt, though small geographically, is considered a world-class city, and has been attracting expatriates for years. The residents of this alpha world city are afforded with the opportunity to take advantage of its exceptional public transportation and settle down in one of its multifaceted neighborhoods. More and more migrants are attracted to this splendid city due to its rich culture and bountiful opportunities.
Frankfurt has been defying the trends of other financial centers such as London or New York. Rents have been fairly stable until recently. However, fueled by low interest rates and a robust job market, prices have been picking up.
Savills, a real estate consultancy firm, carried out a recent analysis of over 20 German cities including Frankfurt. The investigation involved determining the investment risks of the reviewed cities based on economic and socio-demographic factors. As well as receiving a rather positive score, Frankfurt was ranked fourth out of all other investigated cities with Munich, Regensburg and Stuttgart achieving higher positions. The city did, however, come out on top for various categories,including those measuring the city’s economic performance where sections such as tax revenues and the rate at which new companies are being formed were taken into consideration.
Frankfurt’s Westend is a rather luxurious location, and perhaps one of the city’s most extravagantly priced neighborhoods. Apartments in the Westend are considerably more expensive than those in most other city centers, reflecting a price jump from 0 euros (normal for other inner city apartments) to anywhere between 5 and 25 euros. These price ranges are not inclusive of heating, trash removal as well as other utility costs.
Depending on where you’ll be working, choosing a neighborhood should be your first priority.
Consider these points when choosing your new place of residence.
· Westend—Which is best for those working in the center of the city. With its stylish housing in its residential quarter Westend is perfect for young professionals on the go.
· Nordend—The most populated district in Frankfurt is home to the biggest library in Germany. Filled with eclectic restaurants and shops, Nordend is ideal for those looking for a more relaxed downtown scene.
· Sachsenhausen—Located on the south bank of the Main River is known for its museums and waterside promenade. It’s a bit more laid back and offers a good number of shops, restaurants, and taverns for locals.
· Bad Homburg, Bad Soden, Hofheim, and Kronberg—All great for families looking for a quieter neighborhood. You’ll be surrounded by other expatriate families and have access to international schools for your children.
Do you have your own recommendations? Join the conversation!