Sell land in Cologne.

Köln's land market entered 2026 on a stabilising footing after the rate-driven correction of prior years, with the Gutachterausschuss (GARS.NRW) reporting broadly flat Bodenrichtwerte at a Stichtag of 01.01.2026, published 31.03.2026. The average Bodenrichtwert across all uses sits near EUR 1,091/sqm, up a marginal 0.3% year on year, while the official median lands at EUR 430/sqm, reflecting the wide spread between premium left-bank districts and cheaper right-bank zones. Residential development land for Geschosswohnungsbau held stable at roughly EUR 1,130/sqm in good locations, EUR 1,030/sqm in middle locations and around EUR 810/sqm in weaker ones, while the commercial-land index was unchanged at 121, signalling a flat Gewerbe segment. The clearest sign of returning momentum is transactional rather than in headline land values: Mehrfamilienhaus turnover surged 47% to EUR 1.22 bn, the strongest absolute gain among built segments, indicating that institutional capital is re-engaging with Köln residential. Geographically, the market remains lopsided toward the left bank. Lindenthal led activity at around 17% of transactions, followed by the Innenstadt at about 15% and Rodenkirchen near 12-13%; the right-bank boroughs of Porz, Kalk and Mülheim together account for roughly a fifth of cases but a structurally lower share of value, underscoring the persistent rechtsrheinisch discount. Development is steered heavily by the city and its vehicle, moderne stadt, through the kooperatives Baulandmodell, under which investors co-fund social and green infrastructure in exchange for building rights. The flagship pipeline is substantial but long-dated: the 37.7-hectare Deutzer Hafen will deliver roughly 3,000 dwellings and 6,000 jobs with first construction expected around 2028; Parkstadt Süd, a 38-hectare inner-green-belt extension reached a development-contract milestone at the 2026 polis Convention and will build out toward 2038; and further large quarters at Kreuzfeld, Mülheimer Süden and Rondorf Nordwest add several thousand more units on mostly municipal land. For the next twelve months the opportunity set centres on early positioning in these structured quarters, value-add brownfield acquisition in the more affordable Mülheimer Süden, and volume residential on cheaper peripheral city land. The principal risks are construction costs and financing compressing residual land values, lengthy Bebauungsplan and infrastructure timelines that defer activation, and cooperative-model obligations that trim developer margins. With Bodenrichtwerte stable and turnover recovering, the market reads as early-recovery rather than expansionary. Confidence is moderate, anchored on official GARS.NRW and BORIS.NRW data.

mfh turnover eur bn: 1.22 EUR bn Mehrfamilienhaus transaction turnover 2025 (+47% YoY); bodenrichtwert yoy pct: 0.3 % YoY change average Bodenrichtwert; bodenrichtwert avg eur sqm: 1,091 EUR/sqm average Bodenrichtwert, Köln (all uses); residential land mid eur sqm: 1,030 EUR/sqm Geschosswohnungsbau, middle location.