Dortmund, Germany – Geography and Demographics

Geography 

With a population of approx. 590,000, Dortmund is the eighth largest city in Germany, and is about the same as Stuttgart, Düsseldorf and Essen. The more than 1100 years old city is considered the “heart of Westphalia”.

Dortmund is an important traffic junction on the north-eastern edge of the Ruhr area which borders the Sauerland area in the south-east as well as the Münsterland area in the north. Geographically, Dortmund has the following coordinates: 51° 30′ 58″ north latitude and 7° 28′ 05″ east longitude.

Dortmund lays between 50 and 254 meters above sea level. South of the city border, the river “Lenne” flows into the river “Ruhr”, which in turn flows into the “Rhine” river about 70 km west. The old Hanseatic city is connected to the North Sea via the Dortmund-Ems Canal, the end point of which is the more than 100-year-old Dortmund harbor.

Demographics

Dortmund’s population grew rapidly in the time of the 19th century industrialization when coal mining and steel processing in the city began. 1904 marks the year when Dortmund saw a population of …

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Ireland vs. EU: Education

When people think about higher education, there are a few countries and universities that immediately come to mind. The United States is consistently at the top of the world list, with the UK and Germany within the top 5. Schools such as MIT in the U.S. and Cambridge in the UK are two of the best and most popular universities in the world. However, Ireland doesn’t seem to fall too far behind some of these top countries. Ireland in some instances comes on top of the U.S. in relation to elementary education. There are many different studies that show different results. Yet throughout most there are some consistencies in how Ireland and the EU is ranked.

Based off of “The World University Rankings” for 2020, the UK has 8 of the top 10 universities in Europe. Ireland’s Trinity College is the top ranked Irish school, yet it doesn’t come in until 76th on the list. When looking at the population if Ireland, the statistics tell a different story. The population with at least upper secondary education in Ireland is well …

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Helping the Homeless: Ireland vs. U.S.

There’s no question that within the last five or so years, the homeless population in Ireland has significantly increased. People in less than ideal conditions can be seen while walking down the streets of Dublin. Although unemployment in Ireland is nothing new, as with any country, there has been a noticeable increase in that population. “Focus Ireland” found that since 2007, the total homeless population has more than tripled. It seems that in the United states however, the opposite is occurring. Since the same year (2007), the homeless population in the U.S. has decreased by roughly 15% (which is almost 100,000 individuals). Whether a countries homeless population is on the rise or decline, there will always be some amount of homeless. So, the question remains: What does each country do to support this continuous population?

In Ireland, there are things such as soup runs and emergency sleeping accommodations for rough sleepers (people physically sleeping on the streets). For the most part, there are places to get some food and possibly a place to stay. These however are very short-term solutions. …

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Soaring Cost of Living in Ireland

For a lot of people living in Ireland, considering the cost of living never really crosses their mind. They pay rent, buy groceries and live their lives. The price of all of it is just that, the price. For others who haven’t grown up here or have traveled outside the country, the everyday price of living is more prevalent. Compared to most European countries, and many countries around the world, Ireland is a very expensive place to live.

The European Union (EU) has a lot of cheap places to live nevertheless, such as Bulgaria and Poland. In order to find out how cheap or expensive, we look at the Cost of Living Index. Based off of Prague, which is the central reference city, we can statistically see just how expensive certain countries are to live in. Both Bulgaria and Poland received scores hovering around 80. This means its 20% less expensive to live in those two countries than the average in the EU. Ireland and specifically Dublin received a score of 202! This translates to a cost of living 102% …

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Brexit’s Largest Impact

Uncertainty is the overwhelming feeling that Brexit has brought onto the entirety of the EU. Here in Ireland, we are no exception. The fear of a large economic downturn is looming, and it seems everyone is fixated on what will happen when October 31st comes around.

The Irish economy as a whole was predicted to grow 4.1% in 2019 and forecasted an increase in the GDP of 3.7% in 2020 according to the European Commission. This however was predicted without considering the effect of a hard exit by the UK. A hard exit could bring an economic fall out consisting of lowered income levels, and higher unemployment rates. Experts from the Economic and Social Research Institute suggest that these conditions can lower the intense growth of property prices since the low in 2013. The Central Statistics Office says this growth has been just over 86% within those 6 years. Housing demand is likely to lower, affecting mortgage companies, brokers, and families trying to sell or relocate.

However, the housing industry will likely not be the hardest hit industry from the …

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Some information about Frankfurt in Germany

Frankfurt is the 5th biggest city in Germany, it is in Hessen and more than 750.000 people are living there. Between 2008 and 2018 about 100.000 new people were coming to live in this big city.In Frankfurt there are many banks, the ECB (European Central Bank) and the stock exchange, so this city is considered as financial capital from Germany.

The demand for real estate in Frankfurt is bigger than the offer, so the prices for rental rise. In Frankfurt the prices are one of the highest in whole Germany, just Munich has higher prices.

The current average price per square meter for an apartment in Frankfurt today is 17,87 €/m². To rent a flat or a house you must lock a rental contract. These contracts are usually closed for one or two years. In 2018 for an apartment up to 40 square meters you had to pay about 17,90 €/m² , for up to 80 square meters about 13,10 €/m² and for up to 120 square meters about 13,50 €/m² . But the price for an apartment depends on …

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Brexit slows hiring

Brexit. Are you tired of this word yet? It is all that seems to be on the news, on your local newspaper headlines, and on any form of social media platform you can think of. If it seems to be encroaching on every aspect of your life, that is most likely because it is. 

Although a nuisance, it is not without good reason that this topic is everywhere. However far in the future this EU split may be, there are plenty of precautions being taken here and now that must be taken note of by economists and citizens alike. 

As of late, there have been significant changes in the job market for some particular hiring sectors. An index by IrishJobs.ie notes that in the three months preceding July, there was a 4pc decrease in job postings as a hiring sector wide statistic. 

Some of the largest reductions in possible hirings come from firms that are operating in the accounting, financial services, and pharma sector. These three all have come to the conclusion that their particular category may be more hardly …

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Bank of Ireland’s Marketing Gimmick

Recently, the Bank of Ireland has been accused of a marketing gimmick. The Bank of Ireland has launched a new mortgage product that does not offer cash back. The bank has maintained a high market share. Bank of Ireland has been offering up to 3% in cash back of the value of the mortgage taken out. However, the Bank does not have the lowest rates in the market.

Cash back can be defined as money back from a mortgage. For example, if an individual borrows €200,000 he or she may get back €6,000. The first 2% of cash back is paid at the time the mortgage is taken out. The other 1% is paid at the end of year five.

However, the bank has now introduced a High Value Mortgage Interest Rate with no cash back. The new mortgage product is the first fixed rate product without cash back that the Bank of Ireland has one since the introduction of cash back in 2014.

The High Value Mortgage Interest Rate only applies to people borrowing more than €400,000. The product is also …

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Mm Capital propose building university dorm copycat in Dublin 1

With housing options becoming more and more difficult to secure for an affordable price in Dublin, many people wonder when the ever-expanding city will reach maximum capacity. With the thought of growth being stagnated by the availability of homes or apartments at a reasonable price point on the brain, Mm Capital began looking for answers. 

In partnership with international shared residential operator SQRE Living, Mm Capital composed and submitted a building proposal that would allow them to build a 132-bed co-living development on a 5000 square meter plot. This residential building would be located at 39-42 Hill Street in Dublin 1. 

Although this sounds to be an outrageous propositions, students all across Europe and the United States live in these type of conditions for 2-4 years of their lives while attending university. Many of the dorms strewn across campuses can house hundreds of students easily and effectively. 

This real estate investment and development firm has also mentioned many different styles of living that would be available. Around 75pc of the 132 rooms would be 19 square meters, while the other …

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Brexits impact on Insolvencies

The date in which the UK is due to leave European Union is quickly approaching. Less than 100 days remain until Brexit is likely to occur. David Van Dessel, a partner at the consulting  group Deloitte, stated that if the UK ends up crashing out of the EU without a deal it could have a “material impact” on company bankruptcy levels throughout Ireland.

According to Deloitte, the impact of a hard Brexit on Irish businesses may not be apparent until the next year. In other words, the material impact will be more likely to be a depicted in 2020 insolvency statistics.

Van Dessel also discussed how directors are veery slow to ask for external assistance when their business is in the midst of financial troubles, especially family businesses. Family companies tend to deal with issues more privately. Generally, when a company is in trouble the common approach is to sell more, but the problem is normally much greater than lagging sales.

For companies directly effected by Brexit, the financial impact may be quick after implementation, but there will be a …

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