Multi-family house as a capital investment in an aging city

So it is 20 km to the University of Bochum, 25 km to Dortmund from the property I have in mind. I find it unlikely that a student would want to move in there because there are tens of thousands of other apartments between the house and the university. I would then rely on elderly people or newcomers.

So you mean it's not such a good strategy? In a city like Dortmund, where the population is expected to stagnate or increase slightly, I then have a 2% lower return.

Something like that is simply hard to say. Have you ever presented your plan to your home bank, what do they say about it? I would also ask independent experts. Then you get an unbiased opinion on it.

Since the mid-90s, the population has been declining sharply both in Herne and in the Ruhr area overall. The Arnsberg administrative district has dropped from over 3.8 to under 3.6 million, with forecasts continuing downward. Herne went from 181,000 to 164,000. I would rather choose Cologne or Düsseldorf. Or if it must be the Ruhr area, then Münster. Possibly Neuss in locations very well connected to Düsseldorf?

Certainly, the cities then have a lower initial yield, but in the long term "probably" the better investment. The surplus of apartments later is not only in Herne, but also in almost all surrounding cities, which are almost all shrinking. There are practically more apartments becoming vacant than newly occupied, and vacancy is increasing.

Grym paid great attention in geography. Münster and Neuss now belong to the Ruhr area.

I only looked on Wikipedia, it said something about the administrative district of Münster and the Ruhr area. Ok, it doesn't mean the entire administrative district, but only a part of the administrative district of Münster. The thing with Neuss wasn't meant that way, that was thought in a different direction.

So let's make it simpler: Ruhr area = thumbs down.
Nearby, but no longer Ruhr area: Düsseldorf, Cologne, Münster. Possibly Neuss. I don't know, I'm not familiar with it. Here with us, the core city radiates its price development, population growth, and housing demand onto the surrounding communities. Depending on the area, you can get from Neuss to downtown Düsseldorf in 10-20 minutes. But certainly safer are Düsseldorf, Cologne, and Münster.

Sorry for the smart-alecky comment but as a child of the Ruhr area I couldn't resist