Artisa expands to Germany
The Artisa Group has opened a branch in Frankfurt and intends to roll up the market for micro apartments in the neighboring country with its subsidiary City Pop.
In the next five years, Artisa subsidiary City Pop plans to develop and operate thousands of micro apartments in Germany from its new branch in Frankfurt. In recent months, more than 100 properties have been examined, and two major projects in Berlin and Frankfurt are in the acquisition phase, the company says.
According to Alexander Penner, Managing Director of Artisa Germany, markets in which affordable housing in central locations is in short supply are particularly interesting for City Pop. These include Germany's top seven cities and university towns such as Aachen and Nuremberg. Inexpensive microapartments in metropolitan areas would quickly find tenants in such a situation.
1,200 euros for a micro apartment
Penner describes the booking prices for the micro apartments, which average 25 to 35 square meters in size, as moderate. According to him, they are around 1,200 to 1,300 euros in Hamburg. The rooms are booked online, he says, and additional services such as laundry, ironing and mobility services can also be ordered using the specially developed app.
Artisa, which has offices in Zug, Lugano, Lausanne and Zurich, develops and manages real estate for investors and says it owns a portfolio with a market value of CHF 700 million. In Switzerland, the company is completing over 1,000 micro-living apartments by 2021, around 300 of which will be in Zurich. In addition to Frankfurt, the company also plans to expand to Milan soon. (ah)
