1. Home to the European Central Bank: Frankfurt am Main is the financial capital of Germany and serves as the headquarters for the European Central Bank, making it a pivotal city in European finance and economic policy. 2. Cultural Hub: The city boasts a diverse cultural scene, including the Frankfurt Book Fair, one of the largest and most prestigious book fairs in the world, attracting publishers, authors, and literary enthusiasts from all over. 3. Skyline and Green Spaces: Known for its impressive skyline featuring modern skyscrapers, Frankfurt is unique in Germany for having such a distinct cityscape. Additionally, it is often referred to as "Mainhattan" due to its blend of urban architecture and lush green spaces, including parks along the River Main, offering picturesque views and recreational areas for residents and visitors alike.
Housing Market Overview
Frankfurt am Main, Germany's financial hub, has a dynamic housing market with a mix of rental and owner-occupied properties. The city faces challenges in providing affordable housing due to high demand and limited supply.
Rental and Purchase Prices
Rental prices in Frankfurt am Main vary depending on location and property type:
- Average rent: €14.01/m² as of Q3 2024[1]
- Range: Approximately €11.05/m² to €23.12/m² depending on the district[4]
Purchase prices for apartments:
- Average: €4,875/m²[2]
- Range: €3,509/m² to €7,551/m²[2]
Ownership vs. Rental
While specific data for Frankfurt am Main is not provided in the search results, the state of Hessen, where Frankfurt is located, has a lower homeownership rate compared to the national average:
- Hessen: Less than 50% homeownership
- Germany overall: 46.7% homeownership[10]
This suggests that Frankfurt, being a major urban center, likely has an even higher percentage of renters compared to homeowners.
Public, Social, and Cooperative Housing
Frankfurt am Main has a significant presence of public, social, and cooperative housing sectors, which play a crucial role in providing affordable housing options.
Public Housing
The primary public housing provider in Frankfurt is the ABG FRANKFURT HOLDING GmbH, owned by the city:
- Manages over 54,000 apartments
- Oversees more than 37,000 additional rental properties, including parking and commercial spaces
- Approximately 40% of ABG's housing stock is subsidized for low to middle-income households[8]
Cooperative Housing
Cooperative housing is an important part of Frankfurt's housing landscape:
- Example: Wohnbaugenossenschaft in Frankfurt am Main eG
- Founded in 1950
- Manages 31 properties with approximately 682 apartments
- Serves about 830 members[9]
While specific numbers for all cooperatives are not provided, the city actively promotes and supports cooperative housing models.
City Policies and Initiatives for Affordable and Sustainable Housing
Frankfurt am Main has implemented various policies and programs to address housing affordability and sustainability:
- Frankfurt Program for New Construction of Affordable Rental Housing:
- Förderweg 1: Targets low-income households
- Förderweg 2: Targets middle-income households
- Provides interest-free loans and subsidies to investors and builders[7]
- Frankfurt Program for Promoting Housing for Students:
- Offers financial support for building student accommodations[7]
- Frankfurt Program for Promoting New Housing for Owner-Occupied Homes:
- Provides low-interest loans to families, couples, and single parents with at least one child to support homeownership[7]
- 15% Quota in Land Development:
- Reserves 15% of new developments for community housing projects[6]
- Concept-Based Land Allocation:
- Land is allocated based on the best concept rather than the highest bid, promoting innovative and sustainable housing solutions[6]
- Liegenschaftsfonds (Property Fund):
- Established to improve access to land for housing projects[6]
- Energy Efficiency Focus:
- Emphasis on building energy-efficient passive houses to reduce heating costs[8]
Promotion of Cooperative Housing
Frankfurt actively supports and promotes cooperative housing through various measures:
- Information and Networking:
- Operates an information exchange for community and cooperative housing
- Organizes annual information fairs for community and cooperative housing projects[6]
- Dedicated Office:
- Established a "Concept Procedures and Innovative Housing Projects Office" within the Housing Department to coordinate and support cooperative initiatives[6]
- GIMA Frankfurt:
- The city is a founding member of the Cooperative Real Estate Agency Frankfurt (GIMA Frankfurt), which aims to facilitate fair and socially responsible property sales to cooperatives and community-oriented housing companies[6]
- Support for Diverse Models:
- Encourages various forms of cooperative and community living, including housing projects, co-housing, and innovative rental models[6]
- Integration in Urban Development:
- Incorporates cooperative and community housing projects in new development and conversion areas[6]
These initiatives demonstrate Frankfurt's commitment to fostering a diverse, affordable, and sustainable housing market with a strong emphasis on cooperative and community-oriented living models.
Citations: [1] https://www.immobilienscout24.de/immobilienpreise/hessen/frankfurt-am-main/mietspiegel [2] https://www.mcmakler.de/immobilienpreise/hessen/frankfurt-am-main [3] https://www.engelvoelkers.com/de-de/mietspiegel/hessen/frankfurt-am-main/ [4] https://www.immoportal.com/mietspiegel/frankfurt-am-main/hoechst [5] https://www.stadtplanungsamt-frankfurt.de/frankfurter_programm_f_r_den_neubau_von_bezahlbaren_mietwohnungen_f_rderweg_2_17699.html [6] https://frankfurt.de/themen/planen-bauen-und-wohnen/wohnen/gemeinschaftliches-wohnen [7] https://frankfurt.de/themen/planen-bauen-und-wohnen/wohnen/gefoerderte-wohnungen-foerderprogramme/foerderprogramme-fuer-bezahlbares-wohnen [8] https://www.abg.de [9] https://www.wbg-ffm.de [10] https://www.faz.net/aktuell/rhein-main/in-hessen-gibt-es-mehr-mieter-als-wohnungseigentuemer-19268431.html