More cycle paths in Kiel: this is why rental prices have increased | Discover KIEL

Real estate agent Doris Heldt explains why urban development toward more bike paths improves the location of adjacent properties and thus increases their value. Read in this article where rents have increased by eleven percent thanks to bike lanes.

Real estate agents and people interested in houses or apartments always have location in mind as the first deciding factor. Since real estate is not mobile, location is a fixed factor. The Kiel rent index classifies streets into four categories: very good, good, normal to easy. Local policies that strive to create a bicycle-friendly city influence the assessment of residential areas in which automobile traffic is displaced by measures such as bicycle lanes.

Improvement of the location of buildings around Kronshagener Weg

The Kronshagener Weg shows, for example, by comparing the rent index for 2019 and 2023, that cycle paths and 30 km/h zones have improved the situation. In 2023, the Kronshagener Weg will be classified as “normal”. Bicycle-friendly measures have significantly increased the value of houses and apartments, impacting many city streets.

When re-renting, an improved location leads to higher rents. According to the Kiel Rent Index, this change results in an eleven percent increase in the rent for existing rental contracts. Improving the location also has a positive effect on property value, sales price and financing. If necessary, Doris Heldt recommends consulting a lawyer.

You can find more information on Doris Held's website!

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