Real estate prices in Gelsenkirchen have fallen significantly: analysis 2023

Real estate prices in Gelsenkirchen have fallen significantly: analysis 2023

The real estate market in Gelsenkirchen is experiencing a noticeable change as the prices for houses and apartments have fallen significantly. According to the current real estate market report for 2023, real estate prices in Gelsenkirchen have fallen by up to twelve percent. Compared to the previous year, fewer land and properties were purchased, resulting in a 37 percent decline in property sales. Sales fell accordingly by 44 percent from 566 million euros to 316 million euros.

With regard to the specific types of property, it can be seen that prices for single- and two-family homes fell by five percent, while multi-family homes recorded a decline of 12 percent. The purchase price for condominiums also fell by 12 percent. The price of building plots, however, remained largely stable. An interesting detail is that the city of Gelsenkirchen has banned e-scooters from the city area, which could lead to an improved quality of life for residents.

The city informs that the expert committee for property values ​​in Gelsenkirchen determines the real estate prices. This neutral committee consists of 14 members from the areas of surveying, architecture and real estate valuation, who are provided by the Münster district government. In addition to the price development for real estate, the appraisal committee also prepares reports for developed and undeveloped properties in order to create transparency in the housing market and enable well-founded decisions.