Düsseldorf's housing market is characterized by high demand and limited supply, leading to rising prices and rents. The city has approximately 360,000 housing units for its population of over 620,000.
About 76% of Düsseldorf residents rent their homes, while 24% are homeowners. The median rent for existing properties is €12.35 per square meter, with new builds commanding €13.98 per square meter. For purchasing, the median price is €5,380 per square meter, with prime locations reaching up to €8,480 per square meter.
Public housing plays a significant role in Düsseldorf, with the city aiming to increase affordable housing. The public sector owns about 20% of rental apartments in the city. Housing associations and cooperatives also contribute to the market, owning approximately 15% of rental units. One of the largest cooperatives, WGLi Wohnungsgenossenschaft, manages around 10,000 apartments.
The city has set a target of building 3,000 new apartments annually to address housing shortages. However, construction has fallen short of this goal, with only 2,361 apartments completed in recent years. The vacancy rate is extremely low at 1.4%, indicating a tight market.
Düsseldorf's government is implementing measures to increase affordable housing, including requiring 40% of new developments to be publicly subsidized or price-controlled.
Housing cooperatives play a significant role in Düsseldorf's housing market, offering an alternative between renting and owning. The Düsseldorfer Wohnungsgenossenschaft eG is one of the largest cooperatives in North Rhine-Westphalia, with 6,939 residential units as of 2020. Founded in 1898, it now has over 11,000 members and plans to build up to 1,000 new units in prime locations.
Düsseldorf has implemented regulations to support affordable housing and manage short-term rentals. Since October 2019, permits are required for short-term rentals exceeding 90 days per year, with some exemptions. The city also mandates registration numbers for short-term rentals and requires hosts to report occupancies.
While specific information about Düsseldorf's programs to promote cooperative housing is limited, the city likely follows broader German trends in supporting such initiatives. German housing cooperatives generally offer affordable, stable housing with democratic member control and lifelong residency rights.
Although no specific lighthouse projects in Düsseldorf were mentioned, cooperative housing in Germany often focuses on sustainability, community engagement, and innovative living solutions. These projects typically involve members in planning and decision-making processes, creating housing that meets residents' needs while promoting social cohesion and environmental responsibility.
The city administration of Düsseldorf is actively addressing housing challenges through several initiatives. The city has set a target of creating 8,000 new affordable apartments by 2030. To achieve this, Düsseldorf's Housing Action Plan requires private developments to allocate at least 50% of units to publicly subsidized and price-controlled housing.
The city is developing a "Düsseldorf building land model" to accelerate residential area development and establish consistent urban development guidelines. Düsseldorf is also partnering with the municipal housing company (SWD) to develop municipal land for mixed residential neighborhoods and affordable housing.
To stimulate housing construction, Düsseldorf has introduced two new funding programs with a credit volume of €140 million until 2027. The rental model sets a starting rent of €12 per square meter, financed with interest-free loans for 15 years. The owner-occupier model supports families with children under 18.
Additionally, the city promotes sustainable construction and energy-efficient upgrades to reduce long-term housing costs. Düsseldorf engages in regular dialogue with the housing industry and interest groups to find joint solutions and streamline processes like building permit issuance.
These efforts aim to balance short-term and long-term solutions, addressing both the cost of living crisis and the lack of affordable housing in Düsseldorf.