LEG Housing Market Report NRW 2012

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postcode areas, rents are unchanged compared with two years ago. All in all, the Gelsenkirchen residential market is characterized by an extremely narrow range of rental prices. Only 71 cents separate the most affordable average monthly rent excluding heating, which is found in Bulmke-Hüllen, Bismarck (postcode area 45889, €4.62 per square meter), and the most expensive, which is found in Buer (postcode area 45894, €5.33). With the exception of Buer, prospective tenants can still find properties with average rent excluding heating of less than €5 in all of the postcode areas in the city; indeed, asking rents in the lower market segment are less than €4 per square meter in 10 of the 13 postcode areas. Despite low purchasing power, the fact that rents are also low means that the average housing cost burden (including heating) for households in Gelsenkirchen is 18.3 percent. Of the top 12 cities in North Rhine- Westphalia, only households in Dortmund (18 percent) and Essen (17.8 percent) are required to spend less of their net household income on rent including heating. The average housing cost burden for the state as a whole is 18 percent. Within Gelsenkirchen itself, the figure ranges from 17 percent in Hassel, Scholven (postcode area 45896) to 21.2 percent in Schalke and Schalke North (postcode area 45881). Apartment buildings again favored by buyers – prices up more than 5 percent When it comes to properties for sale, too, the Gelsenkirchen market saw inconsistent trends in 2011: While prices for owner-occupied apartments found themselves under pressure, the market for apartment buildings benefited from the signs of a recovery. Compared with purchase prices in the eleven other major cities of North Rhine- Westphalia, however, Gelsenkirchen remains the most affordable market in spite of these slight corrections. The negative price development seen on the market for owner-occupied apartments in the previous year continued in 2011. Having fallen by 2.7 percent in 2010, prices declined by a further 4.7 percent to an average of just €780 per square meter – €38 less than one year previously. However, the gap to the two other low-price cities in the top 12 – Duisburg (€915) and Wuppertal (€968) – remained largely unchanged. By contrast, the Gelsenkirchen market for apartment buildings enjoyed strong positive development, with purchase prices across all location and quality categories increasing by 5.3 percent or €27 to €542 per square meter. The previous year saw growth of just 0.4 percent. Properties in the upper market segment enjoyed particularly strong demand in 2011. Average purchase prices for apartment buildings in this segment were 4.2 percent higher than in the previous year, increasing from €1,111 to €1,158 per square meter. Meanwhile, simple apartment buildings in comparatively poor locations are currently available for €206 per square meter, 0.7 percent less than one year previously. With owner-occupied apartments changing hands for smaller amounts and apartment buildings becoming more expensive, the message is clear: For the majority of people heading up households in Gelsenkirchen, the prospect of owning their own apartment is becoming increasingly remote. Demand is falling – and so, too, are prices. With rent prices at such a low level, the incentives for constructing residential properties are also extremely limited. The situation on the market for apartment buildings, however, is completely different. If most Gelsenkirchen residents are expected to continue to rent their home in future, demand for such housing will be secured even in the future. Furthermore, now may (still) be the right time for purchasing houses from an investment perspective. Accordingly, CBRE expects purchase prices to remain stable over the coming months. LEG Housing Market Report NRW 2012 | 87
Gelsenkirchen Housing market, cost, and expenditure ratio according to postcode Housing data Housing cost Postcode Number of rental offers 45879 734 3.73 4.87 6.65 7.9 70 342 553 2,788 12.3 19.8 45881 1,434 3.94 4.73 5.88 5.6 63 297 485 2,290 13.0 21.2 45883 666 4.02 4.89 6.17 3.9 65 318 513 2,669 11.9 19.2 45884 463 3.73 4.75 6.20 4.4 70 332 541 2,705 12.3 20.0 45886 1,729 3.73 4.76 5.74 6.5 67 317 517 2,703 11.7 19.1 45888 1,694 3.91 4.78 5.62 6.6 61 292 475 2,595 11.2 18.3 45889 640 3.64 4.62 5.77 [4.0] 66 304 501 2,698 11.3 18.6 45891 680 4.01 4.74 6.07 3.8 69 325 531 2,830 11.5 18.7 45892 457 3.51 4.80 5.99 2.2 62 296 481 2,764 10.7 17.4 45894 777 4.16 5.33 8.00 2.6 71 376 588 3,358 11.2 17.5 45896 2,572 3.78 4.69 5.55 5.8 60 281 460 2,706 10.4 17.0 45897 586 3.96 4.88 6.51 5.0 70 341 551 2,909 11.7 19.0 45899 1,662 3.78 4.67 5.83 4.4 63 295 484 2,430 12.1 19.9 Ø 14,094 3) 3.81 4.75 6.03 4.8 64 306 499 2,720 11.2 18.3 Ø NRW 469,318 3) 4.12 5.73 9.90 3.6 72 412 628 3,494 11.8 18.0 1) [number of cases of limited significance] 2) includes €3.00 operating cost/m 2 (DMB operating cost index 2010) 3) total of offers Source: CBRE; based on data from: IDN Immodaten, Michael Bauer Research (purchasing power data), empirica (vacancy) Postcode allocation Basic rent in bottom market segment in €/m 2 /month Median basic rent in €/m 2 /month 45879 Altstadt, Neustadt, 45881 Schalke, Schalke North, 45883 Feldmark, Heßler, 45884 Rotthausen, 45886 Ückendorf, 45888 Bulmke-Hüllen, 45889 Bulmke-Hüllen, Bismarck, 45891 Gelsenkirchen, Erle, 45892 Resse, Resse-Mark, 45894 Buer, 45896 Hassel, Scholven, 45897 Buer, Beckhausen, Horst, 45899 Gelsenkirchen, Beckhausen, Horst, Heßler 88 | LEG Housing Market Report NRW 2012 Basic rent in top market segment in €/m 2 /month Vacancy 2009 in % 1) Apartment size Ø in m 2 Basic housing cost Ø in €/month Total housing cost 2) Ø in €/month Household purchasingpower Ø in €/month Basic rent in % of household purchasing power Total rent in % of household purchasing power
Page 1 and 2: LEG Housing Market Report NRW 2012
Page 3 and 4: Gelsenkirchen A city that continues
Page 5: Gelsenkirchen Falling unemployment
Page 9 and 10: DIRECTORY OF SOURCES Federal Labor
Page 11: MASTHEAD Publisher: LEG Management

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