PROGEDO presents: Düsseldorf
The most beautiful places in Düsseldorf
The Castle Square
Burgplatz is considered the historic center of Düsseldorf. The old castle tower located there contains a modern core beneath its historic shell.
The Maritime Museum located there revives the 2,000-year-old romance of shipping.
A mighty castle complex once stood on this very spot – the old castle tower, which served as a flanking tower during its active period, is thus one of the last remaining witnesses. It belonged to the Dukes of Jülich-Cleves-Berg.
A fire in 1872 finally sealed its fate, leaving only ruins that were completely demolished in 1888. Düsseldorf's Burgplatz has been honored as one of the most beautiful squares in post-war Germany. Reason enough to take a closer look for yourself.
The Königsallee
The Kö in Düsseldorf (Photo (c) shokokoart, fotolia.com)
A flagship—a trademark of international proportions—a magnificent piece of culture. Affectionately known as "Kö," Königsstraße is so much more than a shopping street. It is what defines Düsseldorf as one of the most elegant shopping destinations and a place of pure joie de vivre.
If you're looking for the finest brands in the fashion industry, this is the place to be. Alongside glamorous flagship stores, you'll find dainty boutiques, jewelers, and spacious shopping malls. Those looking for a place to take a break are sure to find what they're looking for at one of the numerous sidewalk cafés.
West of Königsallee are some of the finest hotels, such as the traditional Breidenbacher Hof, the Steigenberger Parkhotel, and the famous Intercontinental. These three hotels not only boast five stars, but also the additional "Superior" designation.
The "Kö" dates back to 1802, when, as part of the replanning process, a moat and avenue were built to replace the existing fortifications. The new complex was completed by 1804. The moat was excavated to a width of 31 meters and a depth of 5 meters and surrounded by trees – this tree population led to the creation of the resulting structure, which was called the Chestnut Avenue.
Why is it called Königsallee today? After horse manure was thrown at King Frederick William IV in 1848, the former Kastanienallee was renamed Königsallee as an act of reconciliation. The "Kö" was born.
The Media Harbour
It all began with a plan to redesign the historic Rhine harbor. Unlike in other cities, however, the redevelopment here was not intended to be a complete regeneration project, but rather a modernization project, plot by plot, tailored to the future user.
The modern Media Harbor in Düsseldorf. (Photo (c) davis, fotolia.com)
Thus, the new Media Harbour cannot be experienced as a single architectural concept, but rather as a composition of unique buildings by renowned architects. Internationally renowned architects such as Frank O. Gehry, David Chipperfield, Joe Coenen, Steven Holl, and Claude Vasconi shaped this unique vision.
Discover the listed warehouses, equipped with the latest technology, beneath their radiant exterior – and yet the atmosphere of a commercial port can be felt deep beneath the skin thanks to the listed quay walls, bollards, wrought iron railings, railway tracks, and loading cranes.
To date, approximately 700 companies have settled on the "Architecture Mile." This makes the Media Harbor Düsseldorf's number one destination for high-quality services and innovative expertise.
Would you like to complement this unique experience with a culinary experience? Visit the Michelin-starred "Berens am Kai" and reflect on the day in the evening at "Club 3001."
Real estate market Düsseldorf
In the greenhouse
Real estate prices in the state capital are booming like a hothouse. But in 2014, Düsseldorf also joined the German trend: the CDU no longer has a mayor in any of Germany's 10 largest cities. Dirk Elbers was forced to step down, and SPD member Thomas Geisel took over. This is certainly not the cause of a possible turnaround in the real estate market, but the signs of the times are congruent: Prices could rise more slowly after 15 years in which they knew only one direction: skyward.
Currently, rented houses range from €10.00 in Vennhausen to €14.00 in Friedrichstadt. The top apartment rents are in Karlstadt (€14.00), Hafen and Oberkassel (€13.00), Niederkassel, Pempelfort, and Unterbilk (€12.00). The data represents the respective averages. Rates for new buildings are 20 to 25 percent higher.
Top prices like in New York
The development of recent years has been extreme. Even for high earners, real estate in the state capital has become unaffordable in other areas, and prices have exploded. For example, an open-plan 100-square-meter apartment in a high-rise building in a prime location cost €400,000 in 2006. In 2013, the asking price was €1 million – and the price was paid. But €10,000 per square meter is nothing: 50 new apartments in the old town carried price tags of up to €14,000 per square meter and were, of course, sold, some even at a premium due to high demand. After all, a concierge service is one of the amenities – but does that justify Manhattan-level prices?
"I bought privately in the Golzheim district six years ago – since then, the price has doubled," reports Thomas Glodek of the real estate market leader Aengevelt. Anyone looking for a house in the Zooviertel district away from the Rhine should be a millionaire or give up the search. This price explosion is affecting rents. In this respect, the change at City Hall is significant. The CDU paid little attention to subsidizing new construction, let alone publicly subsidized housing. Glodek: "Far too little has been built. In the past ten years, fewer than 1,000 apartments have been completed each year."
Commuting is only a limited alternative
This trend must be stopped if Düsseldorf is to remain livable. It's astonishing that the city is even smaller today than it was in the 1960s. Population growth, the driving force behind the price spiral, is no longer an issue. The problems are home-made. But moving to the surrounding areas doesn't always promise relief. 300,000 commuters regularly push the road and public transport systems to their limits every day. Nearby cities can hardly benefit from this either, because commuting is unattractive due to high fuel prices and long travel times, while Düsseldorf entices with free kindergartens.
But there is also some good news: According to industry experts, the market is taking a short break for the time being. There are two reasons for this: Firstly, Düsseldorf's wealthy clientele, committed to luxury, has now acquired sufficient residential properties and is unwilling to continue paying the same prices for lesser properties. Secondly, construction is starting again in Düsseldorf. 315,000 square meters are under construction, significantly more than in the more populous Cologne. Between 2013 and 2017, 11,500 new apartments will come onto the market. The completion date for a further 2,000 units has not yet been set. While 2,000 new apartments a year cannot lead to lower rents, they are a positive signal.
A lot of money drives up the temperature in the greenhouse
The state capital of North Rhine-Westphalia thus threatens to become a hothouse where prices could continue to rise unless political action is taken. The 2013 LEG Immobilien housing market report shows a price jump of eight percent. The average apartment costs €9.00 (excluding heating costs). This is modest compared to Hamburg, Munich, or Frankfurt, but since private pension provision continues to be channeled through home purchases and investors still see considerable upside potential, the Düsseldorf real estate market will likely continue to be flooded with money.
In Düsseldorf, condominiums for less than €3,000 per square meter are rare, unlike in Cologne. In Oberkassel, on the left bank of the Rhine, nothing costs less than €6,000, and anyone who wants to move into one of the 36 apartments in Patrizia's Belsenpark project must expect to pay €6,500. The same price level characterizes 85 units at Parkside One in Oberkassel, a Pandion Real Estate project. At the Pandion d'Or in Pempelfort, no one will be allowed in unless they're willing to pay €11,000 per square meter for the fun.
Full throttle – rent control
Düsseldorf already has a rent control, because all other efforts by the city administration and politicians have so far yielded little results. Instead of 20 percent, rents may increase by a maximum of 15 percent over three years. The "Action Plan for the Housing Market," passed in 2013 under the aegis of the CDU, stipulates that every investor planning more than 100 apartments must offer approximately 40 percent affordable housing, half of which must be publicly subsidized and rent-controlled, and the rest at prices below €10.00 per square meter.
The search for an apartment in Düsseldorf remains exciting. There's something for everyone, but those who want to live in the preferred neighborhoods will have to dig deeper into their pockets.