Real estate market in Offenbach: Owning a home is becoming more expensive

FFor a detached single or two-family house built in 2010 with 160 square meters of living space on a 500 square meter plot, around 933,000 euros became due in Offenbach last year. In 2019, the house would have been available for a good 160,000 euros less. This emerges from the real estate market report 2022 for the city of Offenbach, which the independent expert committee prepared and presented on Tuesday. If you had been content with a terraced house or a semi-detached house of a similar construction year on a 300 square meter plot and 120 square meters of living space, around 672,000 euros would have been available in 2021, and around 140,000 euros less in 2019.

Interested parties could have bought cheaper if they had bought an older house built in 1965. Then around 460,000 euros would have had to be raised for a detached house as described above and 421,000 euros for a terraced house or a semi-detached house. But houses that are almost 60 years old have also become significantly more expensive compared to 2019: detached houses have risen by almost 50,000 euros, terraced houses or semi-detached houses by almost 100,000 euros.

Declining sales on the Offenbach real estate market

All in all, around 727.5 million euros were turned over on the Offenbach real estate market in 2021 through the sale of houses, land, apartments and part ownership, the year before it was 31.8 million euros more and in the record year 2019 a good 790 million. According to the information, a large property deal in previous years played a role. In addition, the fact that there is no longer any land available at the port, which is in high demand, should also have a dampening effect.

A total of 1,018 contracts were concluded last year, 67 percent of which related to residential and part ownership, a good quarter to developed land and seven percent to undeveloped land, as the chairwoman of the committee, engineer Cornelia Jockisch, explained.

The price development in Offenbach has only known the upward direction for years, summed up the planning department head Paul-Gerhard Weiß (FDP). This shows that Offenbach has become attractive. But he is also aware that this is difficult, especially for less well-off people. In the long term, however, this is still good for the entire city, although more living space must be created. After all, you can’t put a fence around the city to slow down influx and demand, said Weiß.

However, the city itself only sells land in exceptional cases, as Weiß explained. In the meantime, the plots of land are mostly assigned with heritable building rights. This allows the city to have more control over what is built on each site. However, there were also times when the municipal financial supervisory authority at the Darmstadt Offenbach regional council encouraged people to sell land in order to improve the budget, as Weiß explained.

Most real estate sales in the 2021 reporting year, to which the 2022 market report refers, took place in the Bieber district, followed by the Bürgel district. In Bieber, 20 vacant lots were sold and 49 developed. There were also 140 apartment and part-ownership sales. In Bürgel, these sales totaled 101, with residential and part-ownership transactions predominating at 51.

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