Investment Real Estate in Bonn: What the Figures Say in 2026

Romolo Marini · 2026-10-13

You are thinking about buying a let flat on the Rhine, but Cologne is too expensive for you. Bonn is half an hour further south and is often underestimated: federal ministries, United Nations, Telekom and Post, a large university.

The figures show a city that has been growing for years. Since the Berlin/Bonn resolution of 1991, the population has increased by around 15% according to the Valuation Committee, and the state expects a further plus by 2050. Among the major cities of Bochum, Bielefeld, Münster and Bonn, Bonn thus has the most positive forecast.

Bonn is therefore not cheap. Let existing flats cost 24 to 28 times their annual rent in 2024 and 2025, depending on age. Here you will find the official figures, reference values for selected locations and an honest calculation for a used and a new flat.

01Bonn in figures

The table summarises the data on which this page is based. Each row states the source and status.

02Population and demand

Bonn has been growing for decades, even though the parliament and government moved to Berlin in 1999. At the end of 2025, according to the Valuation Committee, around 342,000 people lived in the city. The state statistical office counts fewer based on the census, 323,336 at the end of 2024, but this series also shows an increase of 3.0% since 2014.

The residents are distributed across four city districts. Around 159,400 people live in the Bonn district with the centre, Südstadt, Poppelsdorf and the federal quarter, around 79,200 in Bad Godesberg, around 68,000 in Beuel to the right of the Rhine and around 35,500 in Hardtberg.

In the long term, the state sees Bonn clearly in the plus. The IT.NRW projection expects an increase to 334,087 by 2035 and to 334,376 residents by 2050, +3.4% compared to 2024. For comparison: +2.0% is expected for Münster, +0.7% for Bielefeld, −2.5% for Bochum. A forecast is not a certainty, but it supports long-term demand.

03Economy and labour market

Bonn has not shrunk after the government move but has repositioned itself. Six federal ministries still have their primary headquarters in Bonn, more than 20 federal authorities have been added since 1991, including the Federal Court of Auditors and the Federal Cartel Office. In addition, there are 18 United Nations institutions. Bonn is the only UN city in Germany. With Telekom and the Post Group, two DAX companies are located in the city.

At the end of 2024, exactly 196,717 people were in social security-contributing employment at the place of work Bonn, around 79% of them in other services. 114,215 commuted in, 49,634 out, the commuter balance is +64,581. Bonn is thus a place of work for a large part of the Rhein-Sieg district.

The city's unemployment rate in September 2026 was 7.5%, in the agency district with the Rhein-Sieg district 6.5%. This is less than in Cologne, Bochum or Bielefeld, but more than in Münster.

Added to this is the University of Bonn, one of the large universities in North Rhine-Westphalia. The Valuation Committee mentions around 30,000 students. They look for accommodation primarily in Poppelsdorf, Endenich, the Südstadt and in the centre.

04Rents, purchase prices and rental yield

Bonn has had a qualified rent index since 1 Dec 2024, which evaluates the residential location via a point system. For investors, however, an evaluation by the Valuation Committee is particularly revealing: it recorded the purchase price and actual rent for let condominiums sold in 2024 and 2025, separated by building age.

The older the flat, the more rent you get per euro invested. Newer flats are more expensive, but their rents are not higher to the same extent. The purchase price factor indicates how many annual rents the purchase price corresponds to; the gross rental yield is the reciprocal in percent.

A total of 1,189 condominiums were sold in Bonn in 2025: 991 resales, 107 first sales from new construction and 91 conversions. For typical flats with 60 to 100 sqm in medium and good locations, the Valuation Committee names average prices of £2,960 to £3,100/sqm for construction years from the 1960s to 1980s, and around £4,590/sqm for construction years from 2000 onwards.

The property interest rate (Liegenschaftszinssatz) for let flats over 35 years old was 2.0% in 2025, for those 11 to 35 years old 2.5%, and for young flats 2.7%. For young flats, it has risen in recent years, from 1.8% in 2022. Buyers there are now demanding more ongoing yield again than before the interest rate turnaround.

How high is the rental yield for your flat? Enter purchase price, rent and costs: The calculator shows gross and net rental yield.

05Districts at a glance

The Valuation Committee publishes real estate reference values for around 40 locations. They apply to a uniform norm object: let flat, 46 to 100 years old, 61 to 110 sqm, good equipment, simple to medium residential location in the sense of the rent index. This allows the locations to be compared directly. An individual object can deviate significantly; according to the model, younger flats cost up to 56% more.

A low reference value does not automatically mean a higher yield because the rents are also lower in these locations. In Tannenbusch, for example, the risk of loss of rent and the management effort are higher than in the Südstadt.

06Honest calculation: Existing vs. New build

We calculate what remains of the rent for a married couple with £110,000 taxable income (joint assessment). The names are fictitious, the numbers are a calculation example and not a forecast.

Variant A: Existing flat. A 63 sqm flat in a medium location, over 35 years old, for £220,000 including a parking space. Let at £11.60/sqm. Variant B: New build flat. A 60 sqm flat for £360,000. Rent £16.50/sqm.

Closing costs in NRW: 6.5% property transfer tax, approx. 1.8% for notary and land registry, plus 3.57% broker in the existing stock. The closing costs are paid by the couple from their own funds; the purchase price is fully financed at 3.7% interest and 1.5% repayment.

In both cases, you top up. In the existing flat, the monthly additional payment of £191 is significantly lower than the repayment of £275. You are thus "saving" into the property. In the new build, the tax saving is enormous, but you need more equity for the closing costs and have a higher monthly burden.

What remains of your rent after tax? Enter cold rent, interest, depreciation and your income.

07Summary: Is Bonn worth it for investors?

Bonn is one of the most stable locations in North Rhine-Westphalia. The combination of federal authorities, UN and DAX companies creates a krisenfeste demand.