Selling property in Gallus (Frankfurt): House, apartment sales, prices, location, – tips

Selling property in Frankfurt-Gallus – selling an apartment, apartment building or your own property. Selling a property in Frankfurt’s trendy Gallus district? No problem! In recent years, the “Gallusviertel” has become one of the most attractive places for families to live and, along with the Westend and the Nordend, is now one of Frankfurt’s most popular districts! It is also in no way inferior to neighbouring Offenbach. Whether it’s a magnificent single-family home, a spacious apartment or a rented multi-family house – here you’ll find all the tips and information you need on the selling process. Plus: everything on the right time to sell, property valuation and off market! Welcome to Frankfurt-Gallus. Back to overview: Selling a property in Frankfurt.

Frankfurt-Gallus: Trade fair district with international flair

The attractive location directly on the Main, the cultural diversity and the promising job market continue to attract people to Frankfurt from all over Germany and Europe. The international airport is one of the largest in the world, the modern bus and rail system ensures a stable infrastructure and the quiet Main riverbank with its multitude of parks and green spaces invites you to spend a relaxing afternoon away from the hustle and bustle of the big city. As an international trade fair city with a flourishing banking and financial sector, Frankfurt is in no way inferior to other German metropolises such as Berlin and Munich. Families, couples, students, entrepreneurs and investors – they all appreciate the cultural flair of the city, the dazzling skyline and the exciting career opportunities of the Main metropolis.

District: map and location

The historic Frankfurt-Gallus is located in the west of the city – near Bockenheim and the center of Frankfurt-Westend. For a long time, Gallus had a bad reputation as a working-class neighbourhood with run-down residential buildings. However, this is no longer the case! The Gallusviertel is one of Frankfurt’s most up-and-coming districts, not least because of the trade fair that is located here. This attracts business people and other travellers. The latest move by the city of Frankfurt in the Gallus: the expansion of the Europaviertel with new residential buildings, luxury hotels and restaurants.

Sell real estate: Apartment, house, apartment building

Inheritance, family relocation, career prospects elsewhere or divorce – no matter what the reason, both buyers and sellers agree on one thing: the property should be sold quickly and efficiently. But it’s a long road from determining the purchase price to the final purchase agreement. Here you have to decide: Do you want to sell your property privately and even off market? Or with the help of a real estate agent? Because the selling process depends not only on the time of sale and the current demand, but also on the different types of houses and apartments.

Learn more here:

The valuation of the property is one of the most important steps in the sale of real estate.

Real estate valuation: Valuation for the sale of real estate

The real estate appraisal is not only about estimating the value of your property, but also about setting a purchase price. Here, too, your trusted real estate agent can help you. He knows best about the factors that influence the value of your property. After all, an incorrect price can not only unnecessarily drag out the sales process, but scare off potential buyers and end up costing you money.

Here you can find out more about the property valuation, the procedure and the most important documents:

Sell property in Frankfurt Gallus: Reasons & timing

A lot has happened in this tradition-rich inner city district in recent years. Old industrial buildings have either been demolished and given way to new housing developments, or – like the former Adlerwerke – they have become established cultural venues. The “social city” project, also known as the “Frankfurt Programme”, has led to the modernisation and redesign of squares and parks.

Living & working in the Gallusviertel

With the mixture of restaurants, agencies for creative professions, workshops and even service complexes, right up to Frankfurt’s No. 1 shopping address – the Skyline Plaza – a kind of model city district has almost developed. You can live, work and play here in close proximity! In addition, there are excellent connections to public transport via the main railway station and to the national road network via Mainzer Landstrasse. It is still the main artery of the former industrial location Gallus in the heart of the Main metropolis.

Sell or hold? The right time to sell

Rising sales prices, rising rental income – and all this with persistently low interest rates: ideal times for selling real estate! So should you wait to sell your property at the real top price? After all, financial experts are predicting that interest rates will rise again in the near future. This means for real estate buyers who consider a property as a capital investment: on the one hand it will become more expensive to buy a house, on the other hand classical forms of investment (shares, bonds etc.) will gain in importance again. And then the real estate prices in Frankfurt fall. An exact forecast is naturally not possible, but an end of the real estate price boom is becoming more likely!

It is becoming more expensive to buy a property, while other forms of investment are gaining in importance again

That is why it is better to look at other criteria in relation to the right time to sell the property. These include, for example, the personal motives for the sale, the economic situation of the seller and also seasonal aspects that can influence the timing of the house sale.

When should you sell your property? What is the right time to sell your property? You should have these criteria in mind:

  • Personal motives
  • Economic situation of the seller
  • Seasonal aspects
  • Current prices per square metre
  • Forecasts
  • Relation between demand & supply

Reasons for selling real estate: investments, work & co.

You want to buy a property? Or you want to buy an apartment building in order to rent it out lucratively? The right time to sell the property is often found for personal reasons, i.e. the motivation of the seller, but also future plans play an important role here. First and foremost, there is the sales motive of favourable conditions such as good market data (price and interest level) or simply having a good opportunity in terms of a serious buyer. Increasingly, houses are sold because the owners consider themselves too old or ill with regard to the “operation” of their property. Selling out of an inheritance is therefore now also an important reason for “getting rid” of a house.

Ultimately, economic difficulties of the owner may also determine the timing of the house sale.

Here again in summary:

  1. Personal reasons
  2. Economic reasons
  3. Seasonal reasons

Real estate business is seasonal

People keep asking if there is a “good time of year” to sell a house. The clear answer: No! Because selling a property is not a seasonal business! As a rule, the time of year has no significant influence on property sales. Only during the Christmas season does the interest in buying seem to decline somewhat. Nevertheless, it is advisable, at least for the exposé, to take the photos of the property in spring or summer. Because in the sunshine and surrounded by greenery, a house looks completely different than on a gloomy autumn day.

Selling a property is not a seasonal business!

Property locations and prices in the “Gallus

The average price per square metre for a rental apartment in the Gallus district was €13.80 in the last twelve months (as of 2019). This represents a change of 3 per cent on last year. The average price for a house to rent was €12.80 per square metre – a change of as much as 4 per cent on the previous year.

Rental apartment: 13.80 euros/m² (+3%)

Rental house 12.80 euros/m² (+4%)

Thanks to the City West construction project, further residential opportunities have been created in the Gallusviertel, which significantly increase the quality of life. Anyone buying a house here had to pay an average price per square metre of €3,700 last year. This corresponds to a price change of 9 percent. However, these are average values that do not represent every property.

House in the Gallusviertel: 3,700 euros/m² (+9%)

Security through discretion: The work of the Diskret broker

Many private real estate sellers hesitate to entrust a broker with the handling of the sale not only because of the costs. They fear that through the work of the broker the sale will be too public. Why also always neither neighbours, nor friends and acquaintance are to experience from the sales intentions. An experienced real estate agent is also familiar with off market sales.

A few examples make this clear:

  1. No sales signs on the house and in the garden
  2. Discussions between seller and broker only possible on a scheduled basis and on neutral ground
  3. Placement of the property in the portals without any reference to the exact location and the seller
  4. Sale of the property only to selected and previously intensively tested customers

The right way to sell a multi-family house with a commercial part

The “Gallus” has long since ceased to be an industrial quarter, even if structural remnants of it are still visible. The new and modern character of Frankfurt’s central district is mainly due to the close proximity of residential and commercial areas. In addition to the restoration or redesign of prominent parks such as the Quartiersplatz or “urban gardening” projects on Frankenallee, the municipal “social city” project is also reflected in the creation of short distances from home to work.

The proximity of residential & commercial characterises the Gallusviertel.

Architects, craftsmen, graphic designers and other freelancers are intensively looking for suitable properties for the combination of living and working. But also small workshops, bistros, restaurants and retail from different industries fit perfectly into the “Gallus”!

Would you like to find out more about selling a house? Then we have the right address for you. Take a look here:

When is your property a commercial property?

Properties that are subject to mixed use, such as a multi-party residential building with various premises, can also be classified as commercial properties depending on the proportion of commercial use. The decisive factor here is the proportion of commercial or private use, which is calculated on the basis of the usable floor space.

In order for the property to be designated as a business property, a commercial share of more than 80 % must be shown.

If this results in a share of more than 50% for commercial use, the property can be designated as a commercial property. However, in order for the property to be designated as a commercial property in accordance with the provisions of the German Valuation Act, a commercial share of more than 80% must be shown. Otherwise, the property must be designated either as a residential or partial property, as a residential rental property or as a mixed-use property.

Here are all the figures again at a glance:

  • More than 80%: Business property
  • Under 80%: Residential or part-ownership, residential rental property or mixed-use property

Residential property & commercial property for sale: opportunities and risks

Whether Westend, Offenbach or Frankfurt-Gallus: the intentions and interests of the buyer are important for the sale of a property with a commercial component. In principle, it can be said that the returns on properties with a commercial component are better on average than on purely residential properties. This fact makes the chances of selling a mixed property seem higher.

In individual cases, it may even be interesting to consider converting parts of a purely residential property into commercial premises before selling it. The mere prospect that the offered house can also be used commercially in parts expands the circle of potential buyers.

If your property is already partially used as a commercial property, your prospective tenants should know how long the leases for the commercial premises will run for and what renewal options are available.

In principle, the type of business located in the building also determines the chances of sale: with regard to the risk of loss of rent, the expected impairment of tenants in the residential units, etc., it makes a big difference whether the business consists of a beer pub, a fashion boutique or a doctor’s practice.

Key Data: Sale of combined residential and commercial real estate.

The special market analysis

The market analysis for the sale of real estate deals with the basic market conditions that are decisive for the respective type of real estate when determining the value and sale. In the case of residential and commercial properties, it is also important what type of business is located in the building or can be located there in the future. The market value can differ considerably depending on whether the building houses a retail shop, a restaurant or an insurance office.

Presentation of the property

When preparing the exposé for a residential and commercial building, every detail counts! In addition to first-class photos, these details include, above all, comprehensive information on the type of business, the facilities required for the safe operation of the business and the income figures resulting from the business. The ratio of commercial to residential space must also be stated precisely.

Examine commercial shares

For the buyer of your property, it is important to know how long the commercial lease will last and what renewal options exist. What options are there for increasing the rent, or what automatic mechanisms (indexation or similar) are the tenancy based on? In addition, all building permits for extensions and conversions of the residential and commercial building must be available and appropriately placed in the exposé.

Multi-family house & commercial property: Tax regulations

When you sell your multifamily home, income or speculation tax may kick in. Income or speculation tax is due if your house sale takes place within ten years of the purchase of the house. The speculation tax is subject to the individual tax rate and can be much more than 25 percent in individual cases. However, after the ten-year period, you can sell your apartment building tax-free.

Learn more here: Taxes in Germany

Speculation tax: costs for renovations and repairs

The speculation tax can be reduced: You can offset the costs incurred when selling your house against your proceeds. In this way, financial expenses for advertising, renovations or appraisals reduce the sales proceeds and thus also the tax portion. It is important to know that costs for renovations and repairs can only be offset if the measures took place in the first three years of ownership and, with the deduction of sales tax, were higher than 15% of the purchase price of your house.

Business taxes: Three Property Limit

Trade tax is incurred if you have sold more than three properties within five years. Above this three-property limit, the tax office assumes that you are trading in real estate commercially. We have more on the subject of real estate and taxes for you here:

Conclusion: Good times for house sales in the “Gallus

Whether purely residential or mixed residential and commercial: the chances of successfully and lucratively selling a property in Frankfurt’s Gallus district have never been better! And – it’s fair to say, given the overall economic situation – they are unlikely to get any better. As an up-and-coming district with absolute proximity to the actual city centre of Frankfurt, with the best connections to the transport systems and within sight of the exhibition grounds, almost every location in the quarter can be considered “sought-after”.

Find out how an estate agent can help you sell your home and discreetly convey your property here:

Frankfurt am Main: Real estate in the financial metropolis

Frankfurt is definitely the most impressive German city. If you stand in the Frankfurt city center, you drive in here, the skyscrapers are something very impressive. This makes the city seem twice as big as Berlin, three times as big as Munich and four times as big as Cologne. The attractive location directly on the Main and in the centre of Central Europe continues to attract people from all over Germany and the world to the city. Frankfurt a.M. is known for its unique skyline, skyscrapers and a thriving financial market. But the city offers so much more. Museums, green spaces, the opera, art halls. Culture as far as the eye can see.

Real estate in Frankfurt

With its opera, theatres and museum mile, Frankfurt has everything that high culture needs. In addition, a decent gastronomy scene, which in terms of internationality has no comparison in the world. There are beautiful parks in the city, as well as the zoo and the Palmengarten, so that you don’t have to leave the city for a short rest. The banks of the Main River invite you to stroll along, in addition to the chic shopping galleries. The skyscrapers are also an attraction in themselves. And if you visit one of the numerous festivals in the summer, it’s hard to get away from the view of the skyline.

Living in Frankfurt am Main: Popular districts & residential areas

With a population of less than one million, the metropolis in the Rhine-Main region is known worldwide and home to Germany’s second largest airport. No wonder, after all, Frankfurt is considered an attractive place to live. While the up-and-coming Gallus convinces with its hip flair and excellent location, the Westend and Nordend inspire with their elegant charm paired with historical flair. Find out everything about Frankfurt’s most popular districts, their locations and prices per square metre here. To the overview: Living in Frankfurt am Main

Sell, buy and live in Frankfurt am Main

Whether modern Nordend, up-and-coming Gallus, international Westend or the popular neighbouring town of Offenbach, with the current price trend it is worth selling your property in Frankfurt! You want to sell your apartment, your apartment building or your land in Frankfurt? Find out here what you need to bear in mind when selling your property in Frankfurt. In addition: Our free guides and tips on the topics of property valuation, off market and all prices per square metre in Frankfurt – Welcome to Frankfurt! To the overview: Selling real estate in Frankfurt.