The project marks the consultancy’s first time to market a German property in the country
Thai property investors have been given the opportunity to invest in Eden, one of the most iconic condominium properties in Frankfurt and the first residential project from Germany that was introduced to the Thai market, reported JLL Thailand.
“Generally, most Thais looking for opportunities to invest in an overseas residential property show exceptional interest in the UK, the US, and Japan that they may be more familiar with,” said JLL Director of International Residential Napapat Wanitcharat.
She hoped that the announcement would encourage locals to take advantage of the “strong investment potential” in Frankfurt.
Data published by JLL revealed that the home prices in Frankfurt have been growing steadily for more than 10 years. Experts believe that it will continue to rise due to the undersupplied residential market. The housing shortage at the moment is about 50,000 units and the vacancy rate is only 1.5 percent, while the entire city is occupied by 736,000 residents.
Napapat added, “Buyers in Frankfurt’s residential market comprise both locals and foreigners who have purchased units for own use or as an investment. Studios and one-bedroom units are most popular among investors as the two-unit types typically enjoy the healthiest rental demand in the vicinity of Frankfurt’s business districts.”
Renowned for its impressive architectural design and amenities, as well as its noteworthy location in the heart of the capital, Eden is the first development project in Germany by Immobel, one of Europe’s fastest-growing property development companies.
It also has to be noted that Germany accounts for 20 percent Gross Domestic Product of the European Union, claiming the title as the biggest and most stable economy in the region.
The 27-storey tower is scheduled for completion in 2021. It will house 263 units, ranging from 30 square metres to 194 sqm in size, and will cost between THB12 million (USD397,419) and THB105.3 million.
“Investors purchasing a unit in Eden and put it up for rent can expect investment yields ranging between 3 to 4 percent per annum. However, most buyers put a greater focus on a potential capital gain on the long term as residential prices in Frankfurt are likely to rise further due to limited supply,” she added.
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