1.5 years after launch, only one-third of new build apartments have been sold

Thank you for the many responses.

I personally do not find the apartments in Benrath very appealing. The location is more than mediocre

Why do you consider the location more than mediocre? I was there recently and sure, the residential area doesn't look particularly nice now, but the location itself is great: forest, kindergarten, supermarket, S-Bahn, city center, swimming pool... all within walking distance. Is it not safe there?

Why do you consider the situation more than moderate? I was there recently and sure, the residential area doesn't look particularly nice

Not particularly nice. You said it. Right next to the vocational college and industrial area. Aldi & Co. are nice, but they don't make it any better. Living there is complaining on a high level. Vivawest built a quarter southwest. As a tenant, you easily pay 15€ cold rent – despite the location.

Are both houses being built at the same time and are apartments being sold in both houses? That would be unusual, because a phased implementation has advantages for everyone (buyers, sellers, including craftsmen). If the apartments are scattered, there is probably no risk that an investor will step in. If someone buys 3-4 apartments, they are not a threat to the [WEG].

Are both houses being built simultaneously and are apartments being sold in both houses?

Yes, and they are located on two separate parcels. There are also additional houses planned (on other parcels), but there are no apartments for sale there yet.

Because I had just posted here (original quote "is the same with the few units sold for us"), I also wanted to mention that today we were (surprisingly for us) informed that our developer has filed for insolvency. (Tecklenburg)

The press release hints a little that in another large project they were unable to sell completed units (and I assume at the same time their own interest costs had risen sharply for the advance payments they had made). In this respect, the context here may be somewhat interesting to know.

I had already written a little elsewhere that I still have quite a bit of hope that everyone has an interest in completing our house (we are already quite far along). But what exactly awaits us now, I still don't know.

I also wanted to mention that today we were informed (to our surprise) that our developer filed for insolvency. (Tecklenburg)

Oh dear, then I wish you all the best! (I recently read about an insolvent developer where another company took over everything, so the buyers still got their house without additional costs, just with a delay).