Rising rents and purchase prices plus growing numbers of students and incomers are increasing the demand for affordable living space in large German cities like Berlin. Compact residential units featuring communal areas, so-called micro apartments, could provide a solution. “Micro apartments do not just offer affordable living in attractive locations, but also represent a lucrative capital investment”, says Sebastian Fischer, Managing Director of Engel & Völkers Berlin.
The STUDIO HOUSE BERLIN currently under construction near Berlin‘s Mauerpark is a six-storey residential building with micro apartments for students, trainees and apprentices. The concept includes plans for 193 furnished apartments with their own bathroom and kitchen, each measuring between 21 and 38 square metres. In addition, the private apartments have access to communal areas with modern amenities, which offer space for exchange and communication among the residents. The communal areas include a lounge with event kitchen and terrace, a co-working space, a laundry room and bicycle park. “The STUDIO HOUSE BERLIN combines functional design with optimal use of space”, says Sebastian Fischer, who is marketing the property for the Groth Gruppe and the Investa Immobiliengruppe. The building is due to be completed in time for the start of the 2017 winter semester.
Residential concepts tailored to suit the needs of residents
Residential concepts like that of the STUDIO HOUSE BERLIN offer an efficient living space that is optimised to suit contemporary lifestyle requirements. The private living area is reduced to essentials. Communal areas are available for occasional activities that require additional space. “Certain living requirements are sourced out. The sharing trend is catching on in the property sector”, claims Fischer. Depending on the residential concept, micro apartments are not just restricted to the target group of students, trainees and apprentices. Commuters and singles are increasingly adopting this way of living. When planning this kind of building it is therefore important to consider the needs of future residents. “Users of micro apartments are just as demanding as tenants of conventional properties. They appreciate high quality housing as well as appealing architecture with terraces or gardens”, explains Christian von Gottberg, also Managing Director of Engel & Völkers Berlin.
Attractive capital investment for owners
For capital investors, micro apartments represent an investment with high appreciation potential in light of the continuing demand for living space. In addition they offer attractive yields. Another positive feature of micro apartments is the comprehensive range of services available to the investor. In the STUDIO HOUSE BERLIN the owners can make use of a property management system that specialises in student accommodation. Furthermore, owners can also use a lettings service if required.