Kiel

Status:

A property located in the city of Kiel (East Gaarden), consisting of a mixed-use building constructed in 1980 with a total area of 21,200 sqm. The property comprises 238 residential apartments, 25 commercial units, and a parking facility with 316 parking spaces. It is located between a new development area and a historic square, close to a weekly market, the city center, and the central train station, and is part of a large-scale urban regeneration process.

The complex is situated in one of the best locations in East Gaarden, between the new development zone and the historic Vinetaplatz, which hosts weekly markets and cultural events. From the square, Elisabethstraße continues as a partially pedestrianized street, leading toward the Faculty of Technology. The street serves as the vibrant heart of the district, offering shopping and services, cafés, bars, and restaurants.

Gaarden is a residential district on the eastern bank of Kiel Harbor and one of the city’s central neighborhoods. Formerly populated mainly by working-class residents, the district is now undergoing extensive redevelopment, with more than 250 public and private projects currently being implemented.

Project Scale

6 Buildings

Property Type

Residential & Commercial

Project Duration

5 years

Project Area

21,200sqm

East Gaarden is particularly popular among young people and students. Over the next ten years, approximately 2,500 new residential units are expected to be added, attracting young families and middle- to upper-income populations, positioning the district as a well-considered investment choice.

Kiel is the capital of the state of Schleswig-Holstein, with approximately 250,000 residents, and is experiencing steady population growth.

Major corporations operate in Kiel, including ThyssenKrupp Marine Systems, Germany’s largest shipbuilding company, alongside other well-known firms that have established headquarters and key offices in the city, driving employment growth.

The city is home to three universities, with approximately 35,000 enrolled students, representing a significant demand group in the housing market.

Kiel offers a promising residential real estate market, as its recent dynamism has fostered a positive trend only in recent years. The market is currently gaining momentum but has not yet reached full maturity, leaving substantial untapped potential.

Municipal forecasts project the construction of approximately 8,000 new residential units by 2029, which is expected to attract additional high-quality population inflows. Positive population growth, household size trends, and the large student population support rising prices for both rental and owner-occupied residential properties in the medium to long term.

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