www.riwis.de| Brief Market Abstract Flensburg | | as at: Q1/2023 | | General | Flensburg is the northernmost city in Germany and Schleswig-Holstein and lies directly on the border with Denmark. On the north-south axis, Flensburg is connected to Kiel and Hamburg to the south and Denmark to the north via motorway 7. Flensburg's port is currently used primarily as an industrial port and the largest transhipment is coal, which is delivered to Flensburg's municipal utilities. Occasionally, larger cruise ships also dock in the port. Flensburg is also home to the Mürwik Naval School, which is responsible for the sail training ship Gorch Fock, among other things. | | Demography | Flensburg's population has increased continuously over the past 10 years, with growth rates above the average for D cities. The population gains of the last five years are also above the average for Schleswig-Holstein and Germany as a whole. Despite a decline in the number of people moving into the city, the gains in immigration compensate for the negative natural population balance. A further population increase is forecast up to 2030, which exceeds the forecasts for Schleswig-Holstein as a whole. Flensburg is a young city, both in regional comparison and in comparison with the other D cities, with high proportions of one- and two-person households, which is partly due to the relatively high student ratio. | | Economy | Flensburg's economic structure is characterised by a balanced mix of SVP employment figures per economic sector. The education and health sectors as well as trade are the most strongly represented. The current growth rates are similarly low in a regional comparison. However, the unemployment rates are above the state and national level and have fallen slightly in 2022 compared to the previous year. The business location is particularly characterised by small and medium-sized enterprises with less than 100 employees, which account for more than 95% of the businesses and in which about half of all SVP employees work. The city itself clearly states the high proportion of jobs in the service sector, the position as an administrative location in the region and the importance of the economic sectors of mechanical engineering and shipbuilding, health and mobile communication. Important companies are the Flensburger Brewery, the Federal Motor Transport Authority, Queisser, the FSG shipyard, Robbe & Berking, Krones AG and Orion. | | Residential | Flensburg's housing market is now characterised by excess demand. Both rents and purchase prices have developed positively in the past, although rental growth has not kept pace with purchase price development. Overall, the level of rents and purchase prices is somewhat below the average for German cities. For some years now, the main focus of construction activity has been on multi-storey residential buildings, especially in the rented housing segment. It has been possible to reduce the backlog of approvals in recent years to a large extent. Good residential locations in Flensburg include the districts of Altstadt, Westliche Höhe and Mürwik. |
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RIWIS Online - City Report Flensburg
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