Frankfurt is one of Europe’s most forward-thinking, efficient cities, with a soft spot for skyscrapers. The city’s skyline is an intoxicating mix of bright lights and metropolitan sights, with the Taunus mountain range providing a natural backdrop.
You only have to look at One Forty West – the first hybrid tower that combines luxury apartments and hotel services – to see development is still in action. The skyscraper is located in the new, central Senckenberg Quartier, enjoying a prime spot between the popular districts of Westend and Bockenheim.
Another project that relocating professionals should keep tabs on is The One – a new office-hotel skyscraper complex due to open in the city in 2022. Both developments will yield ambitious new bars and restaurants – no doubt to be filled by office workers and those visiting Frankfurt’s Kap Europa conference centre.
Even Frankfurt Airport is adapting and changing, with a refreshed terminal 2 recently reopened, and a new terminal 3 planned for 2026. Professionals in the banking sector often find themselves passing through the airport’s arrivals halls, as the city has an exceptional reputation in the equity, trading and clearing markets, plus it is home to FWB® – Germany’s largest stock exchange. In fact, JP Morgan, Goldman Sachs and Nomura are all reported to be offering Frankfurt as a relocation option to its London employees.
Employment prospects in Frankfurt are enticing across the board. As well as opportunities in banking, the city is home to Messe Frankfurt – the world’s largest trade fair, congress and event organiser, which has its own exhibition grounds and more than 2,500 global employees.
Frankfurt is also the epicentre for Germany’s growing data sector, partly because the city is home to one of the most developed internet exchange points in the world, and also because of the large demand for fast data from Frankfurt’s strong financial industry.
The city’s rapid rise as a leading data centre has put it in the mix with London, Amsterdam, Paris and Dublin – a recurring theme across many industries that now view Frankfurt as a ‘must join’ city. The point has been emphasised by digital research firm, MetrixLab, which recently opened a Frankfurt office to confirm it had a presence in every one of Europe’s ‘big 5’ economies.
If you’re Frankfurt bound, there are plenty of different and diverse districts in which to base yourself. Bahnhofsviertel, Frankfurt’s railway station district, is very up-and-coming – packed with restaurants and soon to become the location of Nestlé’s new German headquarters. Our agents are increasingly showing relocators around the Gallus district too, which is known for its warehouses and factories that have been successfully converted into theatres and music venues.
Perennial favourites among professionals include Frankfurt’s Westend, as it is close to the city’s banking towers; Sachsenhausen for its museums, heritage buildings and walks along the River Main; and the inner-city neighbourhood of Holzhausenviertel. Families often start by choosing an educational facility before they choose a neighbourhood. The choice is good, with no fewer than nine leading international schools in the city, including the European School Frankfurt, Strothoff International School and Frankfurt International School (FIS).
Frankfurt is in the top seven German cities with the highest rental costs per square metre, so don’t be alarmed if the rent for a two-bedroom city centre apartment is in excess of £2,000 per month, while a centrally located studio apartment will cost in the region of £1,000 per month. The market is ultra-competitive too, and it’s not unusual to be in a queue of up to 20 people to view a property.
For this reason – and for the fact that subletting is totally legal in Germany, that properties are advertised by the square metre, and that ‘unfurnished’ can often mean no curtains, light fittings or kitchen appliances – organising a relocation to the city should be guided by a professional. Klippa’s agents in Frankfurt are on hand to help – please ask for our advice.
Contact us today for support with relocating to Frankfurt.