There are two reasons why Berlin’s properties hit the spot for locals and foreigners at the moment:
Berlin is Germany’s largest city with about 4.5 million residents from over 180 nations making up a remarkable spice mix in this multicultural city. With its location in the European Plain, Berlin is influenced by a temperate seasonal climate, and lifestyle is gorgeous with about one third of the city’s area is made up of forests, parks, gardens, rivers and lakes.
There are two reasons why Berlin’s properties hit the spot for locals and foreigners at the moment.
1. International buyers want to be part of the Berlin buzz
From second home buyers to investors, Berlin’s culture, politics, media, and science attracts a huge diversity of visitors. The city hosts over 135 million visitors a year. Therefor it is the 3rd most visited European city. Of course, all of these visitors need a place to stay. The sale of apartments to investors with returns of four to five percent is attracting a great deal of interest at present. We have noticed a development in terms of moving to districts such as Adlershof and Köpenick between the centre of the city and the future airport in Schönefeld. Another noticable trend is the increasing number of Italian buyers investing in freehold apartments in the district of Neukölln, and the surrounding area.
2. Owning your OWN home has started to seep into the Berlin psyche
Locals are starting to buy their own homes, as well as the investing crowd. Anne Riney, Sales Director at Engel & Völkers in Berlin-Mitte, explained the trend: “More and more Berlin citizens are thinking about buying property in the capital, in light of the rising rent prices and low interest rates. I don’t see any danger of the market boiling over in the coming years, as the supply of quality real estate remains limited while the level of demand is very high. Clients buying prestigious homes in the premium segment are also doing this predominantly without any third-party financing involved,” Riney said.
In particular, we notice that premium properties are being sold straight after the very first viewing appointment. A high level of demand exists when it comes to townhouses located in prime addresses. These kinds of properties bring the best of both worlds together. They combine individual and urban living at the centre of the city. Luxurious finishes, with high attention to comfort and lifestyle. Most asked for are properties with exclusive rooftops or penthouse apartments. Following the vintage trend, we also see old apartments with high stucco ceilings in quiet side roads are extremely popular in the districts bordering directly on to Berlin-Mitte as well.
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