PROGEDO presents: Stuttgart
Housing Market Stuttgart
What drives the Swabians in their valley, they call Stuttgart, anyway? At any rate it’s not building apartments for everyone who wants to live there,, even if the Green mayor Fritz Kuhn promises improvement. But precisely the geographic location in the valley makes housing by reclassification of the city areas so difficult. There would need to be at least 1,500 new housing units per year in Stuttgart to be halfway done with the influx! Nevertheless, more and more people prefer to live in the valley than to move to Esslingen or Böblingen; neither being further away from the center than a Hamburg or Munich resident would have to commute from a suburban area.
What does the Swabian, who traditionally prefers to buy property rather than rent mean when he speaks of a stable housing market in Stuttgart? He thinks that it has always been expensive in Stuttgart, remains expensive and in the future will be even more expensive. Stuttgart also has a lot to offer. Each ranking is subjective, yet we dare make a list of consideration for the parameters of the rent per square meter: 1. The upward increase, – the price potential, 2. the current prices, according to rent levels (in brackets) and 3. the image and potential of the respective neighborhoods as a place to live
- West (12.01 Euro): Especially popular with singles because it’s central, yet forested. Cozy, small-scale structure of retail and restaurant scene
- Bad Cannstatt (10.51 Euros): The largest and oldest city district, where there are many sources and the mecca for football fans: the Mercedes-Benz-Arena.
- Feuerbach (11.19 Euros): Here there’s a mix of industrial, commercial and residential development. And the Feuerbacher Tal is a great place for recreational time. Close to the center, and with a good infrastructure – you can live well and happy here
- Middle (12.59 Euros): One of the longest shopping streets in Europe, the old and new palaces, the main railway station, but also quiet areas and a rebuilt park cemetery – the Swabian is a practical thinker
- East (11,49 Euros): Here the middle ages meet modernity – in the mountain or the Gaisburg you can follow in the footsteps of the middle ages and be next door to the industry, workers’ housing next to villas. A landmark of this eclectic mix is a 100 meter high gas boiler
- Vaihingen (12.60 Euros): In the southwest you will find important research institutes, parts of the university and large IT companies. Well connected to the City, you can both work and live here
- Sillenbuch (10.66 Euros): Consistent above-average prices for property must have a reason
- Münster (9.95 Euros): Located in the northeast of the city, right on the Neckar. If more expensive for tenants; it has potential for landlords and investors. One man’s meat is another man’s poison
- Degerloch (15,70 Euros): most sought after location, but the rent level is maxed out. The residential areas Waldau and Haigst have the reputation of the finest addresses. Here you will find many villas and detached houses with large yards, many with views of the city
- Birkach (10.51 Euros): Located in the south, on the Filderebene near the Hohenheim Castle. It’s not getting any cheaper
The other rankings: 11. Zuffenhausen, 12. Hoffeld, 13. South, 14. Hedelfingen, 15. Wangen, 16. Obertürkheim 17. Botnang 18. Möhringen, 19. Giebel, 20. Stammheim. This already brings us to average residential areas. But the price development is tending upwards everywhere so these areas are in the ranking
The dream home comes at a price
There would be enough suburban row houses but the Swabians are changing. High-income Porsche or Daimler employees no longer want to be in the front yard on their knees gardening as the petty bourgeois at Easter. They would rather move to the renovated 5-bedroom penthouses in the West or the renovated Villa from the 1930s on a hillside. And foreign new Stuttgart residents would not have it easy, should they want to buy: “They often have to compete with investors for the same real estate,” says Robin Frank, Head of Real Estate at BW. Where it ends, is in the stars. Of course there are, as in all cities records and absurdities: In Degerloch or Vaihingen real estate runs 3,600 to 6,000 Euros per square meter. Absurd: A new building in the exclusive Schott street recently went for 10,900 Euro per meter. This could go on forever.
Renaissance der Genossenschaft
But it is interesting that a part of the housing industry, which had gone out of fashion, is coming back: The housing association. Previously cooperative members had to shovel snow, sweep the streets or mow the lawn when it was cleaning week. Long waiting lists were common, if you had applied. Modernity has returned to the third housing market, the services around the house are allocated as cost of ownership. The standards are now equal to the private housing market and so it is no surprise, that between 200 and 300 requests for an apartment come in if it is online longer than a few days. Six to eight candidates are invited to visit. The new tenant becomes a member, which costs for example in Feuerbach 1,600.00 Euros and eliminates the security deposit. A good deal.
How do the house hunters find it? With luck through private landlords who are still well represented in Stuttgart. The Swabians may indeed be regarded as stingy, but there are still the nice older gentlemen with property, who like to rent to young people with children. And through the new brokers’ act certainly more often private landlords will offer their properties up again themselves. The search is by no means hopeless.