Unexpected sale of rented apartment. Options?

Where did you get the market or average value from? Maybe the value of the apartment is not that low? Although I wouldn't want to pay a new construction price for an apartment from the 90s either.

How long have you been living there, have there been rent increases? If the location is really top and the property is in good condition, the rent is certainly currently too low.

I claim that the targeted 250 k€ are definitely achievable. (You also mentioned, no vacancies in the area.) At the moment, everyone and everything is going crazy.

According to Immoscout, this is a fairly cheap area, a 4-room apartment for 180000. Wow. The other 3 apartments are similarly cheap. Your owner is gambling and trying to rip you off. So far I assumed these were normal prices. I would quickly pull his teeth. Just for your information, even if he advertises now, viewings will be added, and you can control these appointments. He must announce them and you can choose them. Then he needs a notary appointment and the new owner can only issue the termination once he is the registered owner. That takes easily 3 months in our region. By the way, I would tell every potential buyer this to their face during the viewing.

Very irritating. Nothing available and what there is, is cheap. I have never experienced such markets firsthand.

I would wait it out on this issue - if you can handle the uncertainty. But I would definitely not buy at this initial price.

There is a Ruhrgebiet malus here, especially since Gelsenkirchen is a neighboring city to Bottrop. But our area is top. Also ramps onto A2/A3, A42 and A30 right at the doorstep. The Pott still offers such gems ;-) .

And no, we are not buying at THAT price.

How long have you been living there, have there been any rent increases?
If the location is really top and the property is in good condition, the rent is certainly currently too low.

Location very good from our point of view. If it were a top location according to the market, the prices would be different.
I can only repeat: 3000€/m2 get you almost new apartments with a slightly upscale standard and especially a larger balcony/terrace. Such properties are right around the corner here. Why should this be priced the same in our well-maintained 94 building?

I have seen ridiculously worse apartments in much worse micro-locations that cost even more, have colleagues and friends in Cologne for example. Reason: It’s just Cologne... as if you could buy something for that. It’s all crazy, right.