Nordrhein-Westfalen — or North Rhine-Westphalia, in English — is Germany’s most populous state, with 18 million people. Get Estate INV is present in NRW to serve a diverse clientele of investors and foreigners seeking a positive yield on an attractive property from Day 1.
NRW is the economic machine of Germany. Four of the country’s top 10 cities are located in this state: Cologne, Dusseldorf (the state’s capital), Dortmund and Essen. We are active in all sectors of commercial and private properties, industrial and retail spaces.
We are where the market is! We are in NRW!
Strong Economic Outlook, Diverse Population
NRW shares international borders with Belgium and The Netherlands in west and borders withinGermany the states of Lower Saxony in north, Hesse in south east and Rhineland Palatinate in south. The federal state remains one of Europe's most important economic centres with a regional GDP of € 624.7b in 2014. In 2014, the state contributed 21.5% of the German GDP maintaining its status as the country's economically strongest region. The overall rate of unemployment amounted to 5.6% in 2014, a notable decrease from 8.3% in 2007. In 2014, the regional labour force amounted to 9.18m, 21.3 % of the national total. Most employees work in the service sector (76.0%), while 23.1% work in industry and construction, and only 0.9% in the agricultural sector (2014).
The economy of North Rhine-Westphalia comprises a mixture of large corporations and small and medium-sized enterprises (SMEs). Twenty-four of the 50 largest German companies are based here (e.g. E.ON, Metro, Deutsche Telekom, Deutsche Post DHL, ThyssenKrupp, Rewe, RWE, Deutsche BP, Bayer, and Bertelsmann). The biggest industrial employer in NRW is mechanical engineering with more than 197,000 employees (21.1% share of German total). Furthermore, NRW is Germany's most important location for the chemical industry. As a chemical location, NRW ranks sixth in the EU and 12th in the world in terms of sales. In addition, NRW is one of the most important automotive locations in Germany.
Property Trends in NRW
NRW is expected to continue its growth over the coming years — and the property market will continue to deliver strong returns. The reason: Demand has risen over a sustained period, rents have grown and a development boom has followed. Compared to 2012 levels, the population is expected to grow by 1.9 per cent by 2030, while the number of households is set to increase by as much as 5.4 per cent. The rental apartment market in the state clearly reflects the consequences of continued growth. The residential vacancy rate in NRW fell from 2.3 to 1.0 per cent between 2009 and 2014. Asking rents continue to rise. The average median of €7.86 per square metre is among the highest of all cities in Germany.