Essen/Augsburg, the 18 October 2018: Instone Real Estate has acquired a set of contiguous plots with an area of approximately 14,000 square metres in Augsburg's city centre. The seller is Aurelis Real Estate. The plots are located within walking distance to the main train station. The development is projected to create 395 apartments with a total living space of 18,100 square metres. Instone is bolstering its growth strategy by investing in Augsburg, an economically prosperous location with a positive demographic trend. The construction is planned to commence in the second half of 2019, with completion due in the first half of 2022. "With the acquisition of this prime location, we are planning the development of 395 apartments for singles, couples and families. The new apartments are aimed primarily at smaller households, as supply is scarce in Augsburg for this target group. The close proximity to the city centre with local amenities in walking distance make this an attractive new residential area", said Joachim Häsler, Instone Branch Manager, Bavaria.
Andreas Gräf, CDO of Instone Real Estate Group, added: "Augsburg is one of Germany's most dynamic residential real estate markets, experiencing strong economic growth and positive demographics. Thanks to our extensive expertise in project management and our network of local offices, we are able to acquire land in prime locations to meet the demand for urban housing for various target groups. For our new development in Augsburg, we are expecting a sales volume of around 130 million euros."
Augsburg is Bavaria's third largest city with a population of 293,000. In the past five years, Augsburg's population rose by 7.3 percent; for the coming year, the forecast sees population exceeding the 300,000 mark. According to Engel & Völkers, purchasing power rose by 7.5 percent in the past five years. During the same period, purchase and rental prices for apartments have increased, albeit moderately, compared with Munich, some 60 kilometres away.
Instone Real Estate
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