Financial expert analyzes: Is buying the mayor's office in Rodgau a worthwhile investment?

Financial expert analyzes: Is buying the mayor's office in Rodgau a worthwhile investment?

According to a report by www.op-online.de,

A bargain or wasted money? The city of Rodgau is spending almost 900,000 euros on a property in the Weiskirchen district. Parts of the opposition criticize the purchase as unnecessary and overpriced.

This is the property at Hauptstrasse 74, which includes a 255-year-old monument, the former mayor's office, and a long, narrow plot of land up to the Rodau. The 3,410 square meters are only partially buildable, with almost a third being in the flood zone.

Despite vehement criticism from the opposition, the purchase was approved by the city parliament by a vote of 30:10. Mayor Max Breitenbach defended the purchase by saying that such offers are not commonplace, especially not at this price. A report confirmed that the monument was in good condition, although it was difficult to market due to its listed status.

The property was built in 1768/69 as the estate of the Elector of Mainz and later used as a mayor's office. In the short term, the city plans to rent the two apartments to large families, while the outbuildings will be leased to commercial businesses.

The mayor sees the 3,410 square meter property as an opportunity to shape urban development independently of private owners. He emphasized that the purchase price was carefully calculated and that the city had the opportunity to sell the property at a profit if it was not needed.

The opposition criticized the purchase as a waste of taxpayers' money, while Mayor Breitenbach and parts of the city parliament supported the purchase as sensible and worth investing in.

The impact of this purchase on the real estate market in Rodgau could potentially lead to a change in property values ​​in the area, particularly if the city uses the property for urban development projects. However, it remains to be seen how the purchase will impact the area's real estate market in the long term.