Selling real estate in Frankfurt-Westend – selling an apartment, a multi-family house or your own property. As the economic heart of the Hessian metropolis of Frankfurt, the Westend is in no way inferior to the other districts Ostend, Nordend & Gallus! For this reason, properties in this location are in particularly high demand. You want to sell your property in the exclusive Frankfurt Westend? Whether it’s a villa, apartment or multi-family house – we’ll tell you how to fetch top prices for your property here. In addition, all the important information on selling real estate, the necessary documents and our free guide to real estate valuation – Welcome to the Westend! Back to overview: Selling a property in Frankfurt.
Frankfurt-Westend: Location of international companies and attractive place to live
Frankfurt is certainly one of the most impressive German cities and is in no way inferior to other German metropolises such as Berlin and Hamburg. With a population of about 750,000 and an area of almost 750 square kilometers, the metropolis on the Main inspires with its unique skyline, historical monuments, and a variety of museums and art halls. The city also enjoys great popularity as an international location, and so the banking and financial sector, as well as a variety of national and global companies annually attract many families, entrepreneurs, singles and investors to the city.
District: map and location
The companies and businesses located in Frankfurt’s Westend place a lot of value on a beautiful cityscape, which is why the main street is characterized by cafés and restaurants. In addition, here you can find everything that is missing besides food for personal well-being, fitness studios, tanning salons and more. Thus, the physical well-being is definitely guaranteed. The popular districts of Nordend and Gallus are also not far away.
You can see this for yourself. It is also not far to Goethestraße, Frankfurt’s top spot for designer and luxury fashion. This grinds directly to the old opera and leads to Goetheplatz in the city center. All this is made possible by the fact that the city is comparatively small in Germany and thus has a fairly compressed city center.
A property in Frankfurt’s Westend also means a property in the middle of the action, as the majority of life in Frankfurt takes place around the city centre. Since 2011, the new university campus can also be found in the centre of the district, which has led to the additional expansion of public transport. The prestigious Frankfurt School of Business and Finance is also a stone’s throw away.
See more of the Westend’s bustling downtown here on Streetview:
Sell real estate: Apartment, house, apartment building
The proximity to the Main River means that apartments with a water view are not uncommon. A number of developers have already discovered the potential here, and in recent years many new buildings have been constructed in and around this multifaceted district. The great demand for living space is also reflected in the real estate prices in Frankfurt. Especially in the most expensive streets in Frankfurt, the prices per square metre are constantly on the rise. But whether it is a new building or an old one – both buyers and sellers agree on one thing: the property should be sold quickly and efficiently. An experienced real estate agent will not only guide you through the sales process, but will also advise you on the topics of taxes and financing. An experienced real estate agent is also familiar with the different types of houses and apartments.
More on the subject of selling in the West End in a moment. Here is an overview in advance, with further information and tips:
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
Are you looking to buy property elsewhere? Or you now want to sell your current property in order to buy an apartment building to rent out? A property valuation uses a number of factors to estimate the value of the property and thus determine the purchase price. Again, it pays to call upon the expertise of a competent real estate agent. Not only the pure material value of your property made the final purchase price, but also the cost of renovations and modernizations, for craftsmen and architect, as well as the residential environment and infrastructure.
Here you can find out more about real estate valuation:
Frankfurt Westend: Neighbourhood in the middle of the skyscrapers
You want to move to Frankfurt for a business assignment or the job market has driven you further and your property is now for sale? If the property is located in Frankfurt’s Westend, then depending on the condition of the property, you have a real goldmine in your possession, because apartment prices in the Westend are not only among the highest in Frankfurt, but the supply is still limited, despite a lot of construction projects in the housing sector.
The banking district: upscale gastronomy and international business spirit
Wednesday, half past twelve in the Westend, the streets fill with hungry business people, all hoping for a quick fix in the many small restaurants and cafés, because there is no shortage of gastronomic options here, after all, the clientele is there. Until around 3pm, hungry swings from the offices keep pouring in to grab a treat on the hand, or linger briefly on the roadside seating. The whole thing happens in the middle of the skyscrapers, which are so unique in Germany.
Selling property in the West End: documents, pitfalls & preparation
There are many reasons why you as an owner would like to sell your property. No matter for what reason and whether you want to sell an apartment, a plot of land or a house in Frankfurt Westend, you need to prepare yourself very well. Because when selling real estate, you not only need knowledge of the legal framework, but also a lot of know-how and the appropriate negotiating skills. If you do not want to deal with all these issues, you can hire an agent to sell your apartment or house.
When selling real estate, market knowledge, a certain know-how and negotiating skills are required!
Preparation: purchase price, period & Co.
A property sale needs to be well planned. Because even the smallest mistakes in the process can mean high financial risks for you. For these complex tasks, the current market situation in Frankfurt must first be researched. On the basis of the results, consider whether a property sale is worthwhile at all. After that, considerations about the selling price play an important role. It is also important to know how long such a house or apartment sale will take, i.e. plan a realistic period of time. You should also not forget the costs that you will incur when selling your property.
A property sale is therefore always associated with costs for the owner.
Find out if you need to pay taxes, how much an appraiser will cost to value your property, and consider if any renovations are needed before you can sell the property. You will also need to identify these costs and add them to the cost plan for the sale. Another important point is to check whether there is still a loan on the property or whether you can terminate the contract early with the bank in the event of a sale without an early repayment penalty. Very important is also the energy certificate, which you need for the sale, as well as many other documents. A property sale is therefore always associated with costs for the owner.
Here’s an overview:
Research of the current market situation
Considerations for the purchase price & the time period
Trade-off
Costs for experts
Possible tax costs
Compilation of important documents
Important documents: Who pays for the energy certificate?
Before you can sell your property and generate income, you have to incur certain expenses that you should not underestimate. The first important point for the sale of a property is the energy certificate, which is now mandatory. The costs must be borne not by the buyer, but by the seller. You should calculate at least a few hundred euros for this. If you hire an agent for the sale of real estate in Frankfurt Westend, he will gladly take care of the procurement of an energy certificate.
The costs must be borne not by the buyer but by the seller
Real estate agent: advertisements circuit online and offline
Furthermore, you need to take into account the cost of placing advertisements. This is because regional newspapers and real estate platforms usually only offer paid services for the placement of sales advertisements. In some German states, by the way, the seller and buyer share the costs for the estate agent. In Hesse, however, the buyer is responsible for paying the brokerage fee of 5.95 percent in full, so you do not have to consider any expenses for this.
Seller and buyer share the cost of the brokerage fee
If you have owned the property for less than ten years and have not used it for yourself, you will most likely have to pay speculation tax to the tax office. You should find out exactly what this means from the relevant office. However, you as the seller do not have to pay the notary fees for the execution of the purchase contract. The notary fees are usually paid by the buyer.
If the property was owned for less than 10 years, a speculation tax must be paid.
For this you will not avoid a cost item if you want to determine the value of your property. A value appraisal is not cheap depending on the scope of the appraisal and may well amount to several thousand euros. However, this appraisal is not absolutely necessary for the sale of a property. Instead, we can carry out a property valuation for your house or condominium.
Here again possible additional costs summarized:
Speculation tax
Notary fees
Purchase contract processing
Valuation & Expert opinion
Square meter prices for house & apartment
The value of a property always depends on its location, size, condition and fittings, as well as the type of property. Properties in Frankfurt Westend are currently selling for an average of around €4,830 per square metre. There are price differences between condominiums and houses in Frankfurt Westend, whereby apartments are generally worth more than houses.
Properties in Frankfurt Westend are selling for an average of 4,830 euros/m2
For example, a 60 sq m apartment in Frankfurt Westend costs around €5,030/m2. A 100 m2 house is worth an average of 4,570 euros/m2. Incidentally, the more square metres a house in Frankfurt has, the cheaper the price becomes.
Prices per square metre for houses and apartments at a glance:
Apartment: 5,030 Euro/m2
House: 4,570 Euro/m2
Real estate valuation: Determination of the purchase price of your property
Whether Westend, Gallus, Offenbach or Ostend: However, in order to be able to find out an exact selling price for your property in Frankfurt, it is best to commission a professional in this field, who will use factors such as year of construction, external appearance, building fabric, heating, thermal insulation, condition of the roof, ancillary rooms and property size for his precise calculation. It is highly advisable to consult an expert to determine a realistic and appropriate selling price. For the sale of real estate, it is not only the theoretical sales value that counts, but also the highest real estate price that is enforceable on the market.
Criteria for real estate valuation
Location, equipment, year of construction and renovations: All these factors influence the purchase price. But the size of the property and the infrastructure of the surrounding area also play an important role. Here are some of the most important criteria that influence the value and therefore the selling price of your property:
Location
Infrastructure / Surroundings
Size
Equipment
State of development
Refurbishments / Refurbishment requirements
Sell rented real estate: Apartment, land & apartment building
Buying an apartment building and then renting it out lucratively is a very good investment! If you want to sell your condo or a house that is rented out at the time of sale, this does not automatically mean that the tenant has to move out. On the contrary: a property sale does not break the lease! You have practically no chance of a special right of termination. Instead, the new owner takes over the obligations and rights of the existing tenancy. Such a property is mostly sold as an investment.
Selling multifamily housing: Getting the Tenant to Move Out
It is particularly advantageous for you if you have agreed a high rent for the rental. This is a good incentive for the potential buyer to buy the apartment or house, because it gives him monthly income from the beginning. If your flat or house is rented out and they would prefer to sell the property as unrented, then you need to be strategic and exhaust all legal options to get the tenant to move out. However, this can be a lengthy process. It is better to reach an amicable agreement with the tenant, for example by offering them a distance sum for which they will move out early.
Tip. Offer the tenant a distance sum
Selling an apartment in an apartment building: Condominium Act
If you want to sell an apartment that is located in a house with several apartments with different owners, the community of owners must agree with the new owner. If they do not, the sale may actually fail. In addition, according to the Condominium Act, you need the consent of the manager. A reason for refusal by the new owner would be, for example, a doubt that the new owner cannot pay the general management and maintenance costs. Usage plans that contradict the community rules can also be a reason for refusal.
Conclusion: Selling real estate with an agent is recommended!
When selling a property in Frankfurt Westend, there are a number of things to consider. For many of these points, extensive expertise is required so that you do not have to accept any losses in terms of time and money. A real estate agency not only takes a lot of work off your hands, they also take care that no mistakes happen. This minimizes risks when selling real estate, which is worth cash to you. Call an estate agent in Frankfurt and tell him or her about your property, they will be able to advise you in more detail.
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
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