Aengevelt Immobilien is brokering the sale of a fully let apartment building in Düsseldorf-Gerresheim for a seven-digit euro amount on behalf of a community of heirs. The well-maintained existing property has 14 well-designed apartments with a total lettable area of around 900 m² as well as 14 underground parking spaces. The buyer is a real estate company that acquired the property for further value creation and possible division into condominiums. The purchase price was not disclosed. The gross initial yield is stated at around 5.3% p.a.
"The property is located in a popular residential district and, with its location and its sought-after apartment sizes, ensures the buyer high demand and rental security. In addition, the property offers significant rent increase potential after the expiry of the rent control in view of the low rent level compared to the surrounding area, as well as attractive exit opportunities, including the prospect of dividing into condominiums," explains Fabio Mata, investment expert at Aengevelt Immobilien Düsseldorf.
Exit strategy "Division": Increasing market for condominiums.
From Fabio Mata's point of view, the division into condominiums and their individual sale in particular offer attractive opportunities, as the market activity in Düsseldorf is clearly picking up here:
For example, sales of condominiums in 2025 increased by 20% compared to the previous year (2024: approx. 2,710 sales) with around 3,250 purchase cases and are also 13% above the decade average (Ø 2015-2024: 2,885 purchase cases p.a.).
At around EUR 1.26 billion, the cash turnover generated by sales of condominiums in Düsseldorf in 2025 also increased significantly by around 23% compared to 2024 (approx. EUR 1.03 billion) and is also 20% above the ten-year average (Ø 2015-2024: EUR 1.05 billion p.a.). In addition, this is the second-highest cash turnover in this millennium after 2021, when around EUR 1.32 billion was turnover.
The average property price for condominiums has also risen by 100,000 euros since 2015 from around EUR 288,000 to EUR 388,000 in 2025.
According to analyses of the half-year report on the Düsseldorf property market, Aengevelt sees a further upward trend in the market for residential and part-ownership in 2026. For example, the number of sales in the first half of 2026 increased by 12% compared to the 1st half of 2025. Cash turnover increased by 15%.
At the same time, asking rents for apartments are rising continuously:
According to Empirica, these for new-build apartments have risen by 58% since the fourth quarter of 2017 from EUR 11.20/m² to EUR 17.70/m² in the fourth quarter of 2025, by around 2024 alone compared to 2024 (EUR 15.60/m²). 13,5 %.
Asking rents across all years of construction have also risen significantly since 2017 by 40% to EUR 13.60/m².
Fabio Mata comments: "The number of apartment completions has been declining for years and cannot keep pace with the demand for rental and owner-occupied apartments. This is shown by the significant increase in asking rents and sales prices for condominiums. Against this background, the current sale of the apartment building in Gerresheim offers the buyer the best value creation potential, both in the case of portfolio management and in the case of division into condominiums and their individual sale."
