Aengevelt Immobilien, acting under an exclusive mandate from an inheritance community, sold a fully let multi-family house in Düsseldorf-Gerresheim. The transaction, valued in the seven-figure euro range, involved a well-maintained existing property with 14 well-designed apartments. The total rental area of the property amounts to approximately 900 square metres. Additionally, the property includes 14 underground parking spaces. The buyer was a property company that acquired the asset with the aim of further value creation and a potential conversion into condominium apartments.
The exact purchase price was not disclosed. The gross initial yield of the property is stated as approximately 5.3 per cent per annum. Fabio Mata, an investment expert at Aengevelt Immobilien Düsseldorf, highlighted that the property's location in a sought-after residential area and the appropriate apartment sizes ensure consistently high demand and letting security. Furthermore, after the expiry of tenancy restrictions, the property offers significant rental increase potential, as the current rent level is considered low compared to the surrounding area.
Potentials through subdivision and market development
Mata also referred to attractive exit opportunities, particularly the prospective chance for subdivision into condominium apartments. He emphasised that the market for condominium apartments in Düsseldorf shows an appealing dynamic. Sales of condominium apartments rose to approximately 3,250 transactions in 2025, representing an increase of 20 per cent compared to the previous year 2024 (around 2,710 sales). This figure is also 13 per cent above the ten-year average of 2,885 transactions per year (average 2015-2024).
The monetary turnover from the sale of condominium apartments in Düsseldorf increased to approximately 1.26 billion euros in 2025. This marks an increase of around 23 per cent compared to 2024 (approximately 1.03 billion euros) and exceeds the ten-year average of 1.05 billion euros per year by 20 per cent. This figure represents the second-highest monetary turnover in this millennium, surpassed only by 2021 with approximately 1.32 billion euros. The average property price for condominium apartments also developed positively, rising from around 288,000 euros in 2015 to 388,000 euros in 2025.
Continuous upward trend in rents and prices
For 2026, Aengevelt forecasts a further upward trend in the residential and partial ownership market based on the half-year report for the Düsseldorf real estate market. In the first half of 2026, the number of sales increased by 12 per cent compared to the first half of 2025, while monetary turnover rose by 15 per cent. In parallel, asking rents for apartments show a continuous increase. According to Empirica, asking rents for new-build apartments have risen by 58 per cent from 11.20 euros per square metre in the fourth quarter of 2017 to 17.70 euros per square metre in the fourth quarter of 2025. This corresponds to an increase of approximately 13.5 per cent compared to 2024 (15.60 euros per square metre).
Asking rents across all construction years have also increased significantly since 2017, by 40 per cent to 13.60 euros per square metre. Fabio Mata concluded that the number of apartment completions has been declining for years and cannot keep pace with the demand for rental and owner-occupied apartments. The increased asking rents and sale prices for condominium apartments underscore this observation. He concluded that the sale of the multi-family house in Gerresheim offers the buyer optimal value creation potentials, both in the case of holding the asset and in the event of subdivision into condominium apartments and their subsequent individual sale.
