Little vacancy is representative of the good structural conditions of a location. All over Germany, vacancy rates for multi-storey apartments are at an average of less than 3 percent. In large cities, the rate is even under 2 percent and the real estate market is becoming increasingly close.
In Berlin, housing vacancy has fallen from 5.1% in 2003 to 0.4% in 2018, according to the CBRE Empirica vacancy index. Other swarm areas and metropolitan regions such as Frankfurt am Main, Leipzig or Stuttgart show similar tendencies. „The trend for more young people to leave rural areas and more single households to increase the demand for housing will not change.
The housing shortage will even aggravate in the metropolitan areas, because the supply does not meet.
From this situation, however, opportunities for needs-based and sustainable urban development can be derived, „predicts Charles Smethurst, founder of the real estate company Dolphin Trust.
For almost 10 years, the project developer has been working with his company on the real estate market and concentrates very specifically on the top 10 cities in Germany, ie those regions that are particularly dependent on the creation of new housing.
Niche segment listed property
Smethurst has already recognized the special charm of listed properties before the company was founded. „At that time, we gave new buildings specific architectural features of old buildings.“
At that time, the best of new and old was realized with a clear focus on new, modern construction, Smethurst has now specialized with its own company on the rehabilitation and repair of listed property. Vacant properties of various sizes are bought and rehabilitated by the Dolphin Trust.
The project developer thus creates coveted living space, often in the city center or with appropriate access to the city center. The completed homes of Dolphin Trust are popular with shoppers, on the one hand because of the possibility of tax depreciation on the renovation of listed properties, on the other hand because Dolphin Trust offers apartments with a special historical flair. In addition, all apartments offer the latest structural and energy standards for historic buildings.
Challenges of the real estate market
Although Smethurst has established a successful company in a niche segment of the real estate market with Dolphin Trust, and the apartments guarantee not only price stability but also value enhancement, it hopes for more political and regulatory support: „We are facing a societal challenge – And I’m talking for all property developers, not just for the few in the listed area – because approval procedures still take too long.
Not only lack of construction space, but also low flexibility of the policy complicate the realization of construction projects, where they are urgently needed. We try to remedy the situation. “
Many properties with listed properties were once generously laid out and have unused land. Dolphin Trust uses this open space, where possible, for neighborhood development: The old building is complemented by subtle, stylistically adapted new buildings.
This not only maximizes the available living space with old and new buildings, but also Dolphin Trust remains true to its claim: A new future for history.
