1. How are the current developments on the Berlin real estate market?

2. How high are the real estate prices for condominiums in Berlin?

3. How high are the real estate prices for single-family houses in Berlin?

4. Map: How high are real estate prices in Berlin by district?

5. What is the forecast: Will real estate prices in Berlin continue to rise?

6. Contact person - that's what your local experts say

A combination of persistently low interest rates and the steadily growing population mean that Berlin is one of the most sought-after residential property locations in Germany. More than 3.7 million people currently live in the federal capital, which corresponds to a growth of 5.8 percent since 2014. In the coveted locations of the city, the supply of living space is correspondingly scarce, but the potential for new building developments in Berlin has not yet been exhausted. The low vacancy rate of 0.8 percent shows that living space is so in demand in Berlin. With this value, however, the capital is still higher than that of other German metropolises such as Hamburg (0.5 percent) and Frankfurt am Main (0.3 percent).

Price increases can also be seen in the purchase prices for condominiums in Berlin. Last year, buyers paid an average square meter price of 4,909 euros for existing properties. The prices in this sector rose by 8.39 percent compared to 2019. The growth was a little lower in the case of new construction projects, but here, too, a constant rise in the price level can be ascertained. One square meter of living space in a new Berlin building cost an average of EUR 6,597 in 2020, which corresponds to an increase of +3.22 percent.

Thanks to its diversity, Berlin is also an attractive place to live for families. This can be seen from the real estate prices for single-family houses in the capital, which are at a consistently high level. The average price for a single-family home in Berlin was 799,772 euros last year. This means that prices fell slightly by -2.3 percent compared to the first half of 2019.

A residential and commercial building or apartment building was sold for an average of EUR 5,594,200 in the first half of 2019, which corresponds to an increase of 29.1% compared to the same period of the previous year. The average offer price was 3,311 euros per square meter. Due to the rent cap decided by the Berlin Senate to freeze rents, slight price declines are to be expected. You can read why the Berlin market is still very interesting for investors in our residential and commercial buildings market report 2019/2020.

Real estate prices in Berlin vary significantly depending on the location - this applies to both single and two-family houses and condominiums. The districts close to the center are naturally among the most sought-after residential areas, but the outer districts are also increasingly attracting the interest of buyers. The districts in very good locations include the districts of Mitte, Charlottenburg, Wilmersdorf, Schöneberg, Grunewald, Zehlendorf, Lichterfelde and parts of Westend, Prenzlauer Berg, Frohnau, Hermsdorf and Kladow. Single and two-family houses in these districts have the highest price level in Berlin and achieve top values ​​between 800,000 euros and 9 million euros. For local condominiums, square meter prices between EUR 5,500 and EUR 21,000 are due. Districts in a good location are the central districts such as Kreuzberg and other parts of Prenzlauer Berg, which are particularly popular with young people. However, some of the districts further outside, such as Spandau, Steglitz, Waidmannslust and Friedrichshagen, also fall into this location category. The local price level for single and two-family houses in these districts of Berlin is between 600,000 euros and 6.5 million euros. Condominiums in these districts fetch average square meter prices between 4,300 euros and 9,000 euros. The districts in the middle area include the districts of Neukölln, Weißensee, Lichtenberg, Pankow, Wedding and parts of Tempelhof. In the middle segment, real estate prices for single and two-family houses in Berlin vary between 400,000 euros and 1.5 million euros. Investors who are considering buying a condominium can expect square meter prices between 2,700 euros and 7,000 euros in these districts. Properties in districts in simple locations achieve the lowest asking prices. These include mainly eastern districts such as Marzahn, Hellersdorf and Hohenschönhausen. In addition, Reinickendorf and large parts of Rudow and Tempelhof have a simple location. The prices for one- and two-family houses vary on average between 300,000 euros and 650,000 euros. Condominiums in these districts of Berlin fetch asking prices between 2,300 euros and 4,500 euros per square meter.

Ilkay Koenec is currently not assuming that property prices in Berlin will fall in the foreseeable future. Instead, Christian von Gottberg and Günter Fischer from Ilkay Koenec Berlin predict that the positive price development will continue: The metropolis of Berlin remains extremely attractive for property buyers. Especially in these unmanageable times, we feel that the value of “real estate” is more in demand than ever. Nevertheless, the current real estate market is not predictable due to the legal regulations: Politics does not promote the stabilization of the markets, but creates an artificial impairment. We keep the new developments in focus and watch whether they continue in this direction. " You can get even more in-depth insights into the residential property market in the 64 most important cities in Germany in our current residential property market report Germany 2020/2021 or in a personal conversation with Germany's fairest real estate agent. We are looking forward to your contact!