Berlin’s first class locations

01.07.2013

The top price in Berlin-Mitte hit 15,000 euros per square metre, which is still relatively cheap compared to cities such as London, Hong Kong, Moscow or Miami. To this end, we notice that rental and purchase prices in Berlin still remain relatively low.

The article we posted last week was about rising property prices in Berlin http://goo.gl/EKMtp. This week, we’re writing about the Berliner districts in more details. If you are willing to invest in the German Capital, then this information should be interesting for you.

The top price in Berlin-Mitte hit 15,000 euros per square metre, which is still relatively cheap compared to cities such as London, Hong Kong, Moscow or Miami. To this end, we notice that rental and purchase prices in Berlin still remain relatively low. These top prices of up to 15,000 euros per square metre are only paid for the best rooftop and penthouse apartments. A very popular address is the historic centre of Alt-Berlin around the churches of St. Nicholas and St. Mary. It offers shopping, dining and nightlife opportunities which are enjoyed by tourist and by locals. Berlin-Mitte is considered the “heart” of Berlin and is also a key point in history, because during the Greater Berlin Act of 1920 it became the first district of the city.

The Gendarmenmarkt, Hackeschermarkt and the magnificent Boulevard Unter den Linden are locations for first class properties. It is quite difficult to find available housing in those locations, so we recommend looking out for new developments. “The level of building work is on the increase and many new residential developments are taking shape. But in spite of this there is still a chronic lack of available real estate, especially in prime locations,” said Anne Riney, Sales Director at Engel & Völkers in Berlin-Mitte.

Gendarmenmarkt hosts the highlight events for the city. The late summer Classic Open Air concert brings long warm days to a festive end. The world-famous Christmas Markets in December bring holiday cheer upon everyone enjoying themselves with a hot cup of glue wine.

Districts bordering directly on to Berlin-Mitte, such as the trendy Prenzlauer Berg neighbourhood, are attracting high numbers of investors. Sought-after addresses include Kollwitzplatz, Helmholtzplatz, Bötzowviertel and Oderberger Straße. Although prices have not risen quite so sharply over recent years and other neighbourhoods are catching up, buyers are still paying between 3,500 and 7,000 euros per square metre for exclusive freehold apartments. Rental prices for properties in this area have reached as much as 18 euros per square metre.

High profile and exclusive new complexes being developed in the historic heart of the city include the project “Yoo”. This lies behind the Berliner Ensemble and the Theater am Schiffbauer Damm, as well as the Kronprinzengärten. It can seem daunting to find property in Berlin at first; however our local team is highly experienced in the market and knows the best streets, weather you’re investing or looking for a private home.

For those seeking more green and nature, beyond the rush of the Berliner-Mitte, we recommend Zehlendorf, Dahlem and Grunewald in the southwest of Berlin. Those areas offer bigger parts of land and therefore some larger living space. Highly demanded homes are grand mansions set in expansive grounds overlooking lakes like the Halensee. Prices for properties around this and some other lakes vary between 8,000 and 9,000 euros per square metre.

Find out more about how to buy your own home in Berlin or invest in the nation’s capital, please contact: berlinmitte@engelvoelkers.com

If you have your own stories about property in Berlin, please share them with us: socialmedia@engelvoelkers.com  

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