The second-largest city in Bavaria and the centre of the Nuremberg metropolitan region is above all an attractive destination for tourists. The famous Christkindlesmarkt alone attracts around two million visitors every year. What else does Nuremberg have to offer, and is the Franconian city interesting for you if you are interested in buying a property for investment?
Nuremberg and its neighbouring cities are home to 20 universities and 53 research institutes. In essence, the metropolitan region is a respected centre of science.
Nuremberg also has a broad spectrum of expertise in industry and services. Medium-sized companies strongly characterise the entrepreneurial field in the region. But there are also several internationally active corporations represented here – including Bosch, Siemens, Adidas, MAN and Novartis. Last but not least, Nuremberg is known and well visited as an international trade fair city.
Due to the economic attractiveness of the metropolitan region and the broad range of education offered by the 20 universities, more and more people – especially students and working people – have been attracted to Nuremberg for years.
The signs are also pointing to growth in the future. For you as a capital investor, this means that the purchase of an apartment in Nuremberg is a future-proof investment with high achievable returns and very good rentability.
New building: first-time occupancy or core refurbishment in the last 10 years
Existing building: between 11 and 50 years
High demand and rising rents characterise the residential market in Nuremberg. Within five years, from 2013 to 2017, the population grew by around 3.7 percent – an increase in demand that cannot be met by new and existing properties.
A further 2 percent increase in population is expected by 2025 due to a sustained high influx. As a result, rent levels have been rising steadily for years. According to Nürnberger Nachrichten, average rents have increased by 9.2 percent between 2016 and 2018 alone.
Sources: Institute of the German Economy, Statistical Information Service 2/2018, Annual Statistical Report 2018, PROJECT Research