Real Estate in Frankfurt, Germany
Last updated on Jan 11, 2024
Summary: The most desirable neighborhoods in Frankfurt, Germany are Sachsenhausen, Nordend, Westend, and Bornheim. The average cost to buy a nice 2 bedroom home in Frankfurt is around $400,000 USD, and a nice 3 bedroom home is around $500,000 USD. These properties typically include modern amenities such as central heating, air conditioning, and updated appliances. Foreigners are allowed to purchase property in Frankfurt, however, they must obtain a residence permit from the local authorities. An expat looking to buy a home in Frankfurt should start by researching the different neighborhoods and their amenities. They should also consider their budget and the type of property they are looking for. It is also important to contact a local real estate agent who can help them find the right property and guide them through the process.
How do I find a place to live in Frankfurt?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"We had our company choose an apartment for us first. We where there 1 year and where able to explore all the areas around us. After that we choose a realtor to find an apartment for us. It was expensive but we really liked the apartment and where able to choose an area closer to the friends we had made and the places we liked to frequent," remarked one foreigner who made the move to Frankfurt.
"When looking for a place to live in Frankfurt, it is important to consider your budget, desired location, and the type of accommodation you are looking for. Start by researching the different neighborhoods in Frankfurt to find one that fits your needs. You can also search online for rental listings, or contact a local real estate agent for assistance. Additionally, there are many websites that offer listings of furnished apartments and rooms for rent in Frankfurt. Once you have narrowed down your search, you can visit the properties in person to get a better feel for the area and decide if it is the right fit for you," explained one person living in Frankfurt, Germany.
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What is a typical expat home or apartment like in Frankfurt?
"I live in Germany for eight years, almost. I now bought a house with my partner. And I have an apartment for you as well, in the attic of my house, of course. :-) A plus, I have an apartment in the finished basement, too," explained one expat living in Frankfurt, Germany.
"Expat homes and apartments in Frankfurt are typically modern and spacious, with high ceilings and large windows that let in plenty of natural light. Many apartments come with balconies or terraces, offering stunning views of the city skyline. Expat homes and apartments are usually well-equipped with modern appliances and amenities, such as air conditioning, dishwashers, and washing machines. Many apartments also come with access to a gym, pool, or other recreational facilities. Expat homes and apartments in Frankfurt are typically located in the city center, close to public transportation, shops, restaurants, and other amenities," said one person in Frankfurt.
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What is the average cost of housing in Frankfurt?
If you are thinking about moving to Frankfurt, cost of living in probably a key consideration. Expats commented about the cost of housing:
"Cost of living is higher. Most things are more expensive than back in the US. We waited to buy a lot of basics (clothing, toiletries, books, shoes) when we where home visiting," said one person in Frankfurt.
"The cost of housing in Frankfurt can vary greatly depending on the area and type of accommodation. Generally, the average cost of renting an apartment in Frankfurt is around €1,000 to €1,500 per month, while the average cost of buying a property is around €3,000 to €4,000 per square meter," remarked one foreigner who made the move to Frankfurt.
Should I buy or rent a home in Frankfurt?
If you have not spent a lot of time in Frankfurt, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying a home in Frankfurt can be a great investment, as the city is a major financial and cultural hub in Europe. However, it is important to consider the cost of living in Frankfurt, as well as the availability of housing, before making a decision. Renting a home in Frankfurt can be a great option for those who are not ready to commit to buying a home, as it allows for more flexibility and can be more cost-effective in the short-term. Ultimately, the decision to buy or rent a home in Frankfurt should be based on individual needs and preferences," explained one person living in Frankfurt, Germany.
What do I need to know when buying property in Frankfurt?
When we asked expats what advice they would give a foreigner before buying a property in Frankfurt, they said:
"1. It is important to research the local market and understand the current trends in the area. 2. Make sure to get a good understanding of the local laws and regulations related to buying property in Frankfurt. 3. Consider the cost of living in the area and the availability of public transportation. 4. Make sure to get a professional inspection of the property before signing any contracts. 5. Consider the taxes and fees associated with buying property in Frankfurt. 6. Make sure to get a good understanding of the local rental market and the potential for rental income. 7. Consider the potential for capital appreciation when buying property in Frankfurt. 8. Make sure to get a good understanding of the local banking system and the availability of financing options. 9. Consider the potential for future development in the area and the potential for increased property values. 10. Make sure to get a good understanding of the local culture and the potential for cultural activities in the area," said one person in Frankfurt.
Are foreigners allowed to own property in Frankfurt?
When we asked expats what advice they would give a foreigner before buying a property in Frankfurt, they said...
"Yes, foreigners are allowed to own property in Frankfurt. Non-EU citizens must obtain a residence permit in order to purchase property in Germany, while EU citizens are allowed to purchase property without a residence permit. However, non-EU citizens may only purchase property in certain areas, and must obtain permission from the local government before doing so. Additionally, non-EU citizens may only purchase one property in Germany, and must prove that they have sufficient financial resources to purchase and maintain the property," explained one person living in Frankfurt, Germany.
What appliances are typically included in a rental?
We asked foreigners in Frankfurt what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"Rental properties in Frankfurt typically include a refrigerator, stove, oven, washing machine, and dryer. Additionally, some properties may include a dishwasher, microwave, and other small kitchen appliances," explained one person living in Frankfurt, Germany.
Additional Information about Searching for a Home in Frankfurt:
We asked foreigners in Frankfurt what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats in Frankfurt can search for homes by looking online for real estate listings, contacting local real estate agents, and searching for rental listings on websites such as Craigslist or ImmobilienScout24. Additionally, expats can look for housing through social networks such as Facebook or Twitter, or by asking friends and colleagues for recommendations," explained one expat in Frankfurt.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
Additional Information:
- Expat Guide to Frankfurt
- Best Markets in Frankfurt
- Retire in Frankfurt Guide
- 7 Tips for Living in Frankfurt
- Pros & Cons of Living in Frankfurt
- Driving in Frankfurt
- Cost of Living in Frankfurt
- Health Care in Frankfurt
- The Insider's Guide to Frankfurt
- 5 Tips for Living in Frankfurt
- Healthcare & Health Insurance in Germany
- Best Places to Live in Germany
- Real Estate in Germany
- Pros & Cons of Living in Germany
- How to Enroll Your Children in School in Germany
- What It's Like Living in Frankfurt
- Pros and Cons of Living in Germany 2024
- 2024 Guide to Moving to Germany