- Owner-occupiers and investors in Munich are increasingly assessing property according to functional criteria
- Lifestyle and international trends to be more strongly reflected in one’s own home
Munich, 2 September 2015. Quality living space for staff posted abroad, international flight connections, a wide range of leisure activities: Munich currently ranks as the number one city in Germany in terms of quality of life. The Bavarian capital gained this rating in the global comparative study conducted by the consulting company Mercer assessing the quality of life in 230 cities each year. Internationally, Munich ranks fourth after Vienna, Zurich and Auckland. With such a quality of life, the city is highly attractive – not only to skilled employees from abroad, but to those from elsewhere in Germany, too. The population of Munich is forecast to exceed 1.6 million by the end of 2018. And according to the city’s current demographic report it is expected to increase to 1.7 million in the subsequent ten-year period – growth of 13 per cent as compared to 2015. Consequently, developers of residential property are faced with considerable challenges: they have to create more housing despite a shortage of space, while at the same time responding to international demands and varied lifestyles. The property project FRIENDS by LBBW Immobilien and its partners extending up until the summer 2016 aims to tackle these challenges and could well prove to be a groundbreaking concept – not just for the Munich property market.
The morning starts at 7 am with a jog in the nearby park. The first meeting starts at 9 am in the office. The computer is switched off at 7 pm. For many city-dwellers, this routine is a way of life. They don’t actually spend much time in their own home – which means they have higher expectations of its design. “People who are out and about a lot in their job are looking for one thing above all in terms of home design: comfort as an enhancement of their quality of life”, explains Jürgen Schorn, managing partner of Bauwerk Capital GmbH & Co.KG, the company responsible for consulting, sales and marketing on the Munich project FRIENDS. According to Schorn, this means that short distances and a good infrastructure are key selection criteria among those seeking housing in major cities. This is not new, of course. But there is also an increasing focus on concepts that make the home a lifestyle element, while at the same time reflecting international characteristics.
“When we were planning FRIENDS, we wanted to create a building that would give residents a balance between everyday routine and leisure. At the same time, the aim was to provide those interested in larger apartments on the upper floors, as well as buyers of medium-sized and smaller apartments the kind of added value they wouldn’t find currently elsewhere in Germany in this particular constellation”, as Tobias Wilhelm, the LBBW Immobilien project manager responsible for FRIENDS, stated.
Much space even in small apartments
The interior of FRIENDS seeks to embody the future of interior design, as well as adding a touch of international flair. A central cube structure in each apartment comprises the kitchen, bathroom, WC, dressing room and housekeeping room. Even in the smaller units, this frees up additional room and creates a more generous sense of space in the larger apartments in particular. Seasonal clothing or rarely used items such as sports equipment can be kept in well-ventilated, separate and lockable storage areas in the basement floors. This likewise creates more space in the home itself. If it’s too late to go jogging in the park, the in-house fitness studio will still be open. There’s a keeper who welcomes residents and guests in the spacious entrance lobby. He receives parcel deliveries, organises cleaning services, takes care of any visiting workmen and waters plants when residents are away. Snacks are served throughout the day at an in-house deli. Whoever wishes to throw a party or cook dinner with lots of friends can hire a fully fitted kitchen lounge. And: even residents on the lower floors can enjoy the views offered by FRIENDS – from the furnished rooftop terraces, each around 200 square metres in size, that will be provided on both buildings at an altitude of 53 metres and accessible to all residents.
An urban location close to nature
FRIENDS also offers added value due to its location. The central rapid transit train line (S-Bahn) is just a few minutes’ walk away, providing a direct link to both the city centre and the airport. The extensive Hirschgarten park is also nearby, as are numerous stores in the “Forum am Hirschgarten”. Residents are just a few minutes’ bicycle ride from Rotkreuzplatz with its urbane side streets and little boutiques. With connections to the main highways and motorways, as well as the rapid transit train, the Alpine foothills and lakes to the south of Munich are likewise within easy reach.
Tobias Wilhelm: “At the moment there is no other property in Germany that combines such a wide range of services in terms of concept, fittings and location. Not just for its own sake but also in response to the needs of today’s national and international property seekers. More than 50 per cent of the 260 units have been already sold – even though structural engineering work did not get underway until March. The high level of demand indicates that the concept is going down well. So FRIENDS could act as role model for other projects and cities.”
