Housing Market Report Berlin 2019 BERLIN HYP & CBRE Meinungen Market Housing Market Report Berlin 2019

Perspectives on Berlin

Dear reader,

If you come to Berlin in ten years’ time, the city lion Berliners will either work at home or live will have five million inhabitants and a housing at work, which will have a positive effect on de- stock that has increased by 100,000 units. A ren- mand pressure on the housing market. tal apartment will cost an average of 16 euros However, while the current challenges are per square metre, but will still be cheaper than primarily demand pressure, transport and in- in Munich. Autonomous trains will pull into frastructure development as well as expansion Hauptbahnhof Central Station, while the num- into the surrounding countryside, all of this is ber of cars will have halved, and people use ar- still a vision of the future. The way in which the- tificial intelligence to plan their lives and orga- se and other topics present themselves on the nise things, rendering tech companies like Berlin housing market can be found, as usual, in Google and Facebook obsolete. our small-scale analyses on the following pages. Half of the office space in the city will be We cordially invite you to discover the pre- co-working space and the new ‘co-living-wor- sent phenomena and take a first look into the king’ concept will be well established: two mil- future with us!

Gero Bergmann Dr. Henrik Baumunk Member of the board, Berlin HYP AG Managing director, CBRE GmbH

2 3 50 Neukölln Contents 46 54 This divers district stretches from the trendy urban neigh-​ bourhood to the city’s southern edge. Despite significant Mitte Pankow increases in prices and rents, there are relatively inexpensive Part A Part B apartments to be had here.

Market Costs 54 Pankow 08 The city of Berlin 22 Introduction: Housing Costs The district begins just behind Alexanderplatz and comprises residential and recreational areas of all kinds. There is a lot of 10 Rents and sale prices 24 Rental prices potential for new construction, but also sometimes resistance 14 New construction 26 Housing cost ratio against it. 18 Metropolitan area 58 Reinickendorf Leafy suburban locations in the northwest of Berlin are more Part C in demand than the neighbourhoods close to the local centre near Tegel Airport. However, conditions may change when it 66 closes. Districts Steglitz- Zehlendorf 30 Charlottenburg-Wilmersdorf 62 Spandau Berlin's bourgeois-urban district covers the west of the inner The general pressure on the housing market is also placing city. Kurfürstendamm is its backbone; there are well-main- Berlin’s westernmost district increasingly in demand. tained traditional neighbourhoods all around. The leafy Fast rail connections partially offset the distance to the city locations in the west of the district are also popular. centre.

34 Friedrichshain-Kreuzberg 66 Steglitz-Zehlendorf With areas of old Wilhelminian and extensive post-war This district boasts some quarters with magnificent villas, buildings, the district borders directly on the city centre, has but also middle-class areas and modest post-war apartments. a distinct inner-city character and Berlin’s highest population Due to its more decentralised location, rents are often below density. city level. 74 38 Lichtenberg Treptow- 70 Tempelhof-Schöneberg Located to the east of Berlin's city centre, this district offers Köpenick This district stretches from Wittenbergplatz, with the luxury good infrastructure, plenty of leafy spaces and a wide choice KaDeWe department store, to the city’s southern outskirts. of apartments. These range from historic villas to brand new The connection between rent levels and city proximity is multi-storey buildings. particularly obvious here.

42 Marzahn-Hellersdorf 74 Treptow-Köpenick The district on the eastern outskirts has also benefited from Berlin's greenest district, in parts the furthest from the city Berlin's economic boom: building plots and apartments are centre, has a colourful spectrum of neighbourhoods. From in high demand; the quality of the infrastructure and the en- industry-oriented living to luxury villas, there is something vironment is improving. for everyone.

46 Mitte Top locations in the city centre are more sought-after than ever. Development in northern and north-western peripheral 03 Editorial locations stagnated for a long time, but have now been affec- 78 Imprint ted by high demand.

4 5 Housing Market Report Berlin 2019

Part A

Market Where are you headed? Current developments, trends and challenges on the residential real estate market in the capital city and its surrounding areas. The city of Berlin Market Housing Market Report Berlin 2019

Reinickendorf, Neukölln and Spandau have the optimistic forecasts. Although both are already Facts highest unemployment rates, while unemploy- densely populated to an above-average extent – The upswing ment is at its lowest in the up-and-coming eas- due, above all, to their large prefabricated hou- Berlin’s population tern districts such as Lichtenberg, Pankow and sing estates dating from the 1970s and 1980s – has been rising Treptow-Köpenick, but also in the bourgeois they still have great potential in properties that steadily since 2004 continues west in Charlottenburg-Wilmersdorf and Steg- have not yet been developed or are underused. — litz-Zehlendorf. All other districts are also showing an increa- as has its economic In 2017, Treptow-Köpenick recorded the hig- se in terms of population development. There performance, with Berlin remains one of Germany’s most dynamic cities. Population hest percentage of population growth in Ber- was even room for people to move to Friedrichs- the exception of lin, also ranking second in absolute terms. One hain-Kreuzberg, which is by far the city’s most 2009 and economic output have been rising continuously for many years - important reason is the completion of nume- densely populated district; by 2017, almost as has the need for living space. rous new buildings in larger apartment buil- 14,000 people were living here on one square kilo- ding projects and individual houses. In terms metre of land. The district of Reinickendorf recor- of new construction completions, the district ded the smallest increase in population: only 73 Berlin’s population, economy and labour market But the city is still trailing behind Hamburg, Mu- ranked third in Berlin’s 2017 statistics, ranking apartments in apartment buildings were comple- are continuing to grow. Over 3.7 million peop- nich, Cologne, Frankfurt, Stuttgart and Düssel- second in the issue of permits. The district of ted here in 2017. In future years, however, Reini- le were living in the city at the end of 2017; the dorf – a late consequence of socialism and the Berlin-Mitte illustrates how closely population ckendorf will have one of Berlin’s largest building growth of recent years continued in the first half subsequent upheavals. Amongst these seven ci- development and new construction are linked, land reserves at its disposal on the grounds of of 2018 but, in comparison, somewhat less dyna- ties, nevertheless, Berlin has the highest unemp- recording both the most extensive residential Tegel Airport. ■ mically. The economy also continued to expand: loyment rate and, by far, the lowest purchasing 33,533 construction and the highest absolute popula- the gross domestic product rose by 3.1 per cent power index. In the meantime, however, the city net migration tion growth. In 2017, more new apartments were in 2017 in 2017 and thus more strongly than the Ger- has just overtaken Düsseldorf in terms of asking completed here than in any other district, while man national average (2.2 per cent). Based on de- rent levels. In 2017 and in contrast to previous more permits to build further apartments were velopments in the first half of the year, economic years, Berlin no longer ranked last of the seven issued here than anywhere else. 7 growth in 2018 is also expected to exceed Germa- cities when it came to the number of completed Pankow, the first district in Berlin to exceed 8 ny’s national average. building projects for apartments. Comparable the 400,000-inhabitant mark, ranked third in Today, services account for 85 per cent of to the number of apartments completed in Düs- terms of absolute population growth. Due to the 9 5 3 Berlin’s economic output. Strongly influenced seldorf, Hamburg and Stuttgart, 3.1 new apart- population development in previous years and 4 by the Internet economy, the “Information and ments per every thousand inhabitants were 390,792 the high amount of potential building land, the Communication” segment recorded particularly completed in Berlin. jobs created forecast for Berlin’s population for the year 2030 1 2 since 2008 high growth with added value in price-adjusted predicts the strongest growth of all districts in ab- terms rising by 9.4 per cent. Tourism and the Significant gap in the labour market solute and relative terms. 11 construction industry also saw another signifi- The growth of Berlin’s economy is also clearly 10 6 12 cant increase. reflected in the labour market. The long-time Optimism in the north-east Berlin has thus somewhat bridged the eco- double-digit unemployment rate is now stable at Both districts of Lichtenberg and Marzahn-Hel- nomic gap in which it had been lagging behind below 10 per cent. However, there is a clear gap lersdorf, between the city centre and the city’s the six next largest metropolises in Germany. within the city: in comparison, districts such as eastern outskirts, also show clear growth and

Berlin barometer

District Residents 20171 Population density Population development from Population forecast2 2015 – 2030, Unemployment rate3, Permits for building new Newly finished per km², 20171 2017 to 20161, absolute value change in % average 2017 in % apartments 2017 apartments 2017

1 Charlottenburg-Wilmersdorf 338,831 5,238 2,582 4.4 8.2 1,882 546

2 Friedrichshain-Kreuzberg 283,974 13,920 2,651 7.2 9.7 1,847 1,264

3 Lichtenberg 286,246 5,492 3,125 9.8 7.8 1,727 1,953

4 Marzahn-Hellersdorf 266,684 4,314 4,669 9.1 7.6 2,345 1,170

5 Mitte 377,965 9,593 6,558 6.8 10.3 3,605 2,088

6 Neukölln 329,387 7,331 1,865 4.4 12.6 1,231 528

7 Pankow 402,289 3,897 4,883 16.0 6.9 1,935 1,089

8 Reinickendorf 263,597 2,951 1,678 9.4 10.7 810 73

9 Spandau 242,143 2,635 2,201 7.7 10.6 482 271

10 Steglitz-Zehlendorf 307,076 2,994 2,990 2.8 7.6 544 555

11 Tempelhof-Schöneberg 348,739 6,574 2,631 2.6 8.9 446 192

12 Treptow-Köpenick 264,999 1,580 5,475 9.8 6.9 2,799 1,679

Berlin total / average 3,711,930 4,165 41,308 7.5 9.0 19,653 11,408

1) As of 31.12, based on population register for Berlin 2) Average forecast variant 3) All employable citizens Sources: Berlin-Brandenburg Statistics Office, Federal Employment Office (unemployment rate), Senate Administration for Urban Development and Environment, compiled by: CBRE

8 9 Rents and sale prices Market Housing Market Report Berlin 2019

In the rental ranking, Pankow is one of the four other districts, the supply was at the lower end of districts with median asking rents between the range in quantitative terms, too. Business as usual: €10.00 and €11.00. In the order of the asking rents, Steglitz-Zehlendorf, Tempelhof-Schöne- Purchasing a condominium: price trend berg and Neukölln followed. Three of these dis- continues 1.1 rents and prices rise tricts are located in part in the city centre. The The asking prices for condominiums in Berlin vacancy rate in fourth, Steglitz-Zehlendorf, has the highest per have risen by 12 per cent compared to the pre- apartment blocks capita purchasing power of all twelve Berlin vious year. The median asking price recorded in % While the upward trend in rent levels is somewhat slowing districts and is home to some of the city’s most in the first to third quarters of 2018 was €4,150 renowned villa districts. Of all Berlin’s districts, per square metre. When price increases were down, it continues unabated with double-digit growth rates for Neukölln’s asking rent increase of 2.6 per cent almost all double-digit, as in previous years, de- condominiums and apartment buildings. on average this year was the lowest – as with 3.8 mand exceeded the available supply of apart- per cent in the previous year. A boom in 2016, ments for sale, which drove prices up. This is which has now waned significantly, had given firstly due to the narrow rental market, which The range of asking rents and prices for apart- rents in this segment were thus on a par with sub- Facts cause for rises there. is now allowing an increasing number of apart- ments and apartment buildings in Berlin rose sidised residential construction on average. ment-hunting households to also consider the 103 significantly. In the first three quarters ofthe From a spatial consideration, there was little Clearer A segment with falling asking rents purchasing segment. Secondly, the still very postcode areas year, the median of asking rents was €10.34 per change in rent level differences. Urbanity and differentiation Apartment-hunting households in Lichtenberg, low level of interest rates often mean that mon- with asking rents square metre. This is 5.6 per cent more than in centrality continue to be the most important of asking rents Treptow-Köpenick and Reinickendorf – three thly credit instalments are below the level of over €10/m² the same period of the previous year. Compared rent-influencing factors. The three inner city — districts outside the city centre, but with partly rent for comparable apartments, even at high to 2017, the increase slowed down somewhat, but districts of Friedrichshain-Kreuzberg, Mitte and Purchase prices very attractive leafy locations close by the water – purchase prices. Thirdly, there are long-term it is now following the trend of recent years: in Charlottenburg-Wilmersdorf (in this order) are are rising most were faced with median asking rents of between motives for both domestic and foreign purcha- 2017, the asking rents for new, rented lettings was at the top. The average values of asking rents in strongly in the €9.00 and €10.00 per square metre. Lichtenberg sers of condominiums, such as wealth accumu- 8.8 per cent higher than in the previous year; this these districts have reached or exceeded the lower market has one special feature: one tenth of the apart- lation and retirement provision. figure had been between five and seven per cent threshold of €12.00 per square metre. At €12.99 segment ments offered at the lowest prices there was the As in previous years, the largest number of in the three preceding years. per square metre (plus 9.9 per cent), the dyna- only market segment of all Berlin’s districts in offers for condominiums was concentrated in 1.5 mics were particularly strong in Friedrichs- which asking rents fell slightly, 0.8 per cent to a the city centre or areas close to the city centre. higher asking Luxury has increased the most in price hain-Kreuzberg; this district recorded the highest median of €6.20, compared to the previous year. Over 50 per cent of the advertisements were re- rents in Berlin than A stronger differentiation in asking rents is one increase in Berlin in absolute and in percentage As in previous years, the lowest asking rents corded for the four central districts of Charlot- in Düsseldorf striking feature of the year-on-year comparison: terms. In the district of Mitte, the top segment for new occupancy were in Spandau and Mar- tenburg-Wilmersdorf, Mitte, Pankow (including at the upper end of the market segment, the ten reached the €20 threshold for the first time in zahn-Hellersdorf, the districts on the western Prenzlauer Berg) and Friedrichshain-Kreuzberg: per cent of the most expensive apartments on of- Berlin. From a quantitative point of view, apart- and eastern outskirts of Berlin, respectively. Both of these, almost 20 per cent related to condomin- fer, the median rose by 7.1 per cent to €17.13 per ment-hunting households also found the largest were also the only districts in which the most rea- iums in Charlottenburg-Wilmersdorf. square metre. In the cheapest tenth of the offers, offer in the central district, followed by Pankow sonable market segment could still be rented on As in previous years, the Mitte district was the rent levels rose by 4.7 per cent to €6.46. Asking and Charlottenburg-Wilmersdorf. average for less than €6.00. Compared with the frontrunner in terms of asking prices. Here, the ▶

Current rental development. Rental price range for new lettings, 2018 Current price development, condominiums. Purchase price range, 2018

District Number Middle market segment1 Bottom market segment Top market segment All market segments District Number Middle market segment1 Bottom market segment Top market segment All market segments of rental price range in €/m²/month sale price range in €/m² offers Median in Change from Median in Change from Median in Change from offers Median in Change from Median in Change from Median in Change from 4 6 8 10 12 14 16 18 20 € / m²/month 2017 in % € / m²/month 2017 in % € / m²/month 2017 in % 1.000 3.000 5.000 7.000 9.000 € / m² 2017 in % € / m² 2017 in % € / m² 2017 in %

Charlottenb.-W. 3,984 8.43 – 16.43 7.39 +2.8 18.06 +5.0 12.00 +6.9 Charlottenb.-W. 4,835 3,182 – 7,871 2,816 +18.7 8,692 +18.5 4,873 +18.5

Friedrichshain-K. 3,593 8.42 – 17.17 7.03 +0.6 19.15 +12.4 12.99 +9.1 Friedrichshain-K. 2,662 3,269 – 6,910 2,993 +12.6 7,932 +6.3 4,672 +7.2

Lichtenberg 2,236 6.86 – 12.50 6.20 -0.8 14.00 +7.3 9.64 +5.9 Lichtenberg 1,092 2,375 – 4,951 2,122 +39.3 5,265 +4.3 3,729 +7.3

Marzahn-H. 2,225 5.86 – 10.43 5.56 +4.9 11.47 +3.3 7.73 +5.3 Marzahn-H. 324 1,829 – 4,112 1,687 +22.2 4,195 +2.3 2,863 +17.2

Mitte 5,335 7.98 – 18.01 7.00 +4.2 20.00 +8.0 12.50 +5.7 Mitte 3,358 3,038 – 7,914 2,458 +23.4 8,944 +3.5 5,188 +10.7

Neukölln 2,791 6.94 – 14.62 6.46 +4.5 16.12 +6.7 10.09 +2.6 Neukölln 1,444 2,559 – 5,645 2,287 +21.1 6,200 +12.7 3,658 +10.4

Pankow 4,986 7.55 – 15.51 6.66 +2.5 17.57 +13.5 10.97 +9.0 Pankow 3,039 2,788 – 6,439 2,484 +13.9 7,264 +16.2 4,400 +13.6

Reinickendorf 2,489 6.81 – 12.29 6.45 +3.9 13.67 +10.2 9.11 +5.7 Reinickendorf 1,156 2,130 – 4,212 1,952 +15.6 4,522 +15.2 2,991 +23.3

Spandau 2,823 6.45 – 10.99 5.94 +5.9 12.00 +9.1 8.51 +7.0 Spandau 1,004 1,891 – 3,930 1,750 +21.1 4,852 +14.6 2,622 +20.0

Steglitz-Z. 2,807 7.97 – 13.63 7.30 +4.4 14.86 +5.6 10.34 +5.5 Steglitz-Z. 2,236 2,685 – 6,292 2,353 +21.8 7,261 +18.6 3,933 +7.8

Tempelhof-S. 3,090 7.35 – 14.63 6.79 +4.9 16.25 +8.3 10.26 +5.8 Tempelhof-S. 2,551 2,468 – 5,983 2,151 +17.1 6,934 +9.8 3,846 +9.5

Treptow-Köpenick 3,795 7.21 – 12.78 6.62 +4.3 13.93 +11.4 9.61 +7.0 Treptow-Köpenick 1,286 2,031 – 4,667 1,875 +12.5 5,078 +7.2 3,070 +10.4

Berlin total 40,154 7.12 – 15.40 6.46 +4.7 17.13 +7.1 10.34 +5.6 Berlin total 24,987 2,524–6,786 2,167 +18.3 7,779 +11.8 4,150 +12.0

(1) Excl. bottom and top tenth percentile of quotes Source: CBRE, based on data from empirica-systeme (1) Excl. bottom and top tenth percentile of quotes Source: CBRE, based on data from empirica-systeme

10 11 Rents and sale prices Market Housing Market Report Berlin 2019

median rose by almost 11 per cent and, for the offers. The median asking price in Treptow-Köpe- Facts and Treptow-Köpenick was the range of asking 2018, in contrast to the previous year, there was first time in Berlin, above the €5,000 per square nick and Reinickendorf was around €3,000 per prices in the low-priced segment under the ave- no longer a district in which sellers charged an metre threshold. At €4,873 per square metre in square metre. Both districts are far from the city Mitte remains leader rage €2,000 per square metre threshold. average of less than €2,000 per square metre for Charlottenburg-Wilmersdorf, the asking prices centre, but are attractive locations with ample regarding the highest an apartment building. for condominiums were not far below this value. woodland and lakes. Spandau and Marzahn-Hel- asking sale prices for Apartment buildings: less of them and even With asking prices in the top segment averaging lersdorf occupied the lowest ranks in terms of condominiums more expensive Sought-after portfolios just under €9,000 for the tenth most expensive market size and asking prices. On average, sel- — The number of advertised offers to buy apart- The volume of portfolio transactions and for- condominiums, the two districts mentioned mo- lers demanded significantly less than €3,000 per Lack of investment ment buildings in Berlin has declined steadily ward deals (from 50 residential units upwards) ved close together. square metre; Marzahn-Hellersdorf also has, by alternatives is reducing in recent years. As in the market for condomin- reached around €4.6 billion in 2017, well above Among the inner-district condominium mar- far, the smallest overall market. More than all ot- willingness to sell iums, demand clearly exceeds supply. In view the previous year’s level. There were signs of a kets, Friedrichshain-Kreuzberg and Pankow also her districts, it is divided into areas with almost of the unbroken upward trend in rent and price supply shortage in the first three quarters of levels and the lack of investment alternatives, 2018. In total, the transaction volume was only 38 price increase for High share of project many owners see no reason to sell. Even the €2.8 billion, of which €1.2 billion was attributa- condominiums developments in state-owned housing companies, at times brisk ble to the Berlin part of the BUWOG Group as a since 2015 in % The market is still fluid, but it is transaction volume sellers, are now trying to increase instead of de- result of the Vonovia acquisition. Berlin’s overall — crease their portfolios. share in the nationwide transaction volume was becoming more difficult to generate High demand from In the first three quarters of 2018, there were only around 19 per cent. all types of investors fewer than 800 purchase offers for apartment Existing large-volume portfolios are only buildings for evaluation in Berlin, making it in- traded as part of acquisitions. In individual significant purchasing volumes. creasingly difficult to make statements about transactions, according to the Gutachteraus- price levels and their changes. This applies, ab- schuss expert committee, more than 1,000 pu- ove all, to statements on a small scale, but also rely residential or residential/commercial buil- 3.1 recorded median asking prices above the Berlin exclusively rental apartments in very large apart- to districts with only a small number of public- dings are still being sold each year. The market completions of average of €4,150. Steglitz-Zehlendorf and Tem- ment buildings from the post-war period and ly advertised offers such as Lichtenberg, Mar- is therefore still fluid, but it is becoming more apartment blocks per pelhof-Schöneberg, located in Berlin’s south and areas with predominantly single-family houses. zahn-Hellersdorf and Spandau. difficult to generate a significant purchasing 1,000 inhabitants in 2017 southwest, were not far below this threshold. As- The median offer price for apartment build- volumes. As in the two previous years, project king prices in Lichtenberg and Neukölln were Low-priced segment exceeds €2,000 per m2 ings in the first three quarters of 2018 was €2,948 developments continue to play a significant around €3,700. In terms of the number of offers The sharp rise in asking prices in the lowest seg- per square metre, compared to €2,621 in the same role, accounting for around 45 per cent of the in the reporting period, these two districts were ment is one striking feature of the entire Berlin period of the previous year. Among all districts, transaction volume. also among the comparatively smaller markets. condominium market. It rose 18.3 per cent for the frontrunner is Charlottenburg-Wilmers- Whether portfolio owners, publicly-traded the tenth of the apartments offered at the lowest dorf: only here was the median above €4,000 per housing companies, pension funds or private Less movement on the outskirts of the city price. Buyers in this market segment had to re- square metre. Friedrichshain-Kreuzberg (€3,529) equity from Germany and abroad – the demand 4.6 The markets of the four other districts were relati- ckon with a median purchase price of €2,167 per and Steglitz-Zehlendorf (€3,233) followed far be- for residential real estate in the capital remains portfolio transaction vely inconspicuous in terms of the advertised as- square metre. Only in the suburban districts of hind. Mitte and Pankow ranked just above the high, meaning that further price increases are volume in 2017 king prices and partly also in terms of the scope of Marzahn-Hellersdorf, Reinickendorf, Spandau Berlin average, all other districts ranked below. In becoming apparent for the ninth year in a row. ■ in billion €

Current price development, apartment buildings. Purchase price range, 2018 Selected residential property portfolio transactions in Berlin Q1 – Q3 2018

District Number Middle market segment1 All market segments Top and bottom Purchaser Seller No. of apartments, (approx.) Sales price in mill. €, approx. sale price range in €/m² segment: offers Median in Change from Vonovia BUWOG (aquisition Berlin portfolio) 9,000 1,200 In the apartment building seg- 0 2,000 4,000 6,000 8,000 € / m² 2017 in % ment, different quality levels confidential confidential 775 254 Charlottenb.-W. 89 1,765 – 7,984 4,177 +23.4 and locations have a substan- Gewobag n/a 690 146 Friedrichshain-K. 51 1,985 – 5,647 3,529 +6.2 tial impact on price develop- HAMBURG TEAM Family Office 296 144 ment. There were relatively few Lichtenberg 26 – 2,578 +18.1 purchase offers at the district Accentro Real Estate n/a 567 141 Marzahn-H. 35 – 2,416 +10.3 level during the observation Covivio Akzent Berlin-Weißensee Am Steinberg GbR 568 95 period, meaning that in the top Mitte 69 375 – 5,233 2,980 +11.7 and bottom segments, prices Round Hill Capital / Ivanhoé Cambridge n/a 362 75 Neukölln 63 1,405 – 4,085 2,409 -12.0 and price comparisons with Rheinland Wohnen GmbH BAUWENS GmbH & Co. KG 178 70 the previous year are not signi- Pankow 85 1,319 – 4,615 2,981 +11.0 Heimstaden/Skerven Group Family Office ficant. For this reason, they are 484 68 Reinickendorf 63 1,596 – 4,465 2,644 +5.4 not represented in this report. Accentro Real Estate n/a 350 56

Spandau 46 – 2,126 +9.4 Institutioneller Investor Münchner Grund Immobilien Bauträger AG 132 49

Steglitz-Z. 89 1,940 – 4,643 3,233 +16.4 STADT UND LAND IG Real Estate Group 284 48

Tempelhof-S. 60 1,920 – 4,050 2,841 +21.0 Primevest Capital Partners AGROMEX GmbH & Co KG 135 44

Treptow-Köpenick 70 1,741 – 4,013 2,711 +11.1 Catella Real Estate AG Homepoint Gruppe 350 41

Berlin total 746 1,489 – 4,923 2,948 +12.5 Deutscher Asset Manager German Asset Manager 250 40

(1) Excl. bottom and top tenth percentile of quotes Source: CBRE, based on data from empirica-systeme Source: CBRE

12 13 New construction Market Housing Market Report Berlin 2019

Projects per size Intensification (residential units) 500 and above 200 to 499 almost everywhere 100 to 199 50 to 99 The share of rental apartments in new construction volume is 20 to 49 continuing to rise. Numerous districts are registering a significant to 20 increase in the new construction pipeline. condominium rental The number of project developments recorded for a four-digit number of apartments are being built, mixed use this report is once again on the increase. 286 new most of them as rental apartments. The project unknown construction projects that are currently under scope is smaller in the northern sub-districts of implementation or in concrete planning, and in Wedding and Gesundbrunnen, where a total of which almost 43,000 apartments are to be built, around 1,400 apartments are in planning, slightly Reinickendorf were analysed. Currently, marketing is focusing more of them in the condominium sector than in 1,500 Pankow on the rental apartment segment, with around the rental sector. residential units 60 per cent of the new units currently earmarked in the largest Lichtenberg for letting. This share could even increase if – as is Focus on rent in the east single project to be expected – some of the new condominiums With more than 6,000 units, Lichtenberg again are acquired and leased by their buyers as invest- ranks second in terms of the number of apart- Mitte ment properties. ments under construction. With around three Spandau In recent years, new construction activity has quarters of all newly built apartments earmarked also expanded considerably in terms of its spatial for rent, new rental apartments clearly dominate distribution and its focus is no longer primarily here. Developing numerous projects in its home in the city’s more central areas. As in the previous district or taking them over into its own portfolio 22 year, however, the district of Mitte leads in terms after completion, the HOWOGE municipal hou- of the apartments Charlottenburg- Friedrichshain-Kreuzberg Marzahn- of planned projects and the number of rental sing company plays a major role in this. The pri- are built in Mitte in % Wilmersdorf Hellersdorf

Tempelhof- New construction activity has greatly Schöneberg expanded in spatial terms and no +37 Steglitz-Zehlendorf Neukölln Treptow-Köpenick longer focusses primarily on the city’s increase in construction costs more central areas. per m² since 2008 in % apartments and condominiums under construc- vate housing projects in Lichtenberg are concen- tion. Around one fifth of the more than 9,000 trated primarily in leafy areas, such as Karlshorst units planned in the projects analysed are to be and Rummelsburger Bucht. “Das Lichtenhain”, built in Mitte and more than half of these will be near Nöldnerplatz in Lückstrasse, is the largest rental apartments. Among others, the numerous project currently underway with more than 200 38.1 rental housing projects are also realised by pu- residential units. living space blic housing companies or taken over after their Similarly, as in Lichtenberg, many projects per inhabitant completion. The historic district of “Mitte” is one are currently being developed in Treptow-Köpe- Charlottenburg-W. Lichtenberg Neukölln Pankow spatial focal point with 25 projects and approx. nick; the focus is clearly on the rental segment too. 3,800 units. These include two project develop- With up to 100 units, most of the current projects ments with around 500 apartments – one on the are medium-sized but there are also some large 30 30 14 42 former Berlin Wall strip bordering Kreuzberg, the projects with more than 400 apartments, such as Projects Projects Projects Projects other in a high-rise building at Alexanderplatz. on the sites of the former VEB Berliner Metallhüt- The second focal point is in the western part of ten and Halbwerkzeuge in Niederschöneweide 38 76 53 36 the district, where Berlin's most important new and at Eisenhutweg in Adlershof. In the private Percentage of rental units in % Percentage of rental units in % Percentage of rental units in % Percentage of rental units in % construction site is currently located north of housing segment, suppliers in Treptow-Köpenick Hauptbahnhof central station. On the site of the are still demanding moderate prices compared to 89 218 174 74 former freight railway area and fallow land north the city-central and high-priced districts. In a pro- Average No. of residential units Average No. of residential units Average No. of residential units Average No. of residential units of the railway station at Heide Strasse and Lehrter ject in Altglienicke, where mainly terraced houses Strasse – predominantly known as “Europacity” - are under construction, offers below the € 2,000 ▶ Source: CBRE, own research, as per October 2018

14 15 New construction Market Housing Market Report Berlin 2019

per square metre mark have also been announ- east of Friedrichshain around Boxhagener Platz one third of the total in Mitte. Theoretically, Pan- number of apartments in Spandau in the coming ced. In projects close to the water – often on for- are the focal points. In contrast to the districts al- kow also has extensive land reserves at its dispo- years: in the first construction phases of the “Wa- mer industrial sites – price demands occasionally ready mentioned, the share of rental units in sal which can at least partially absorb the growth terkant” and “Rauchstrasse” neighbourhood de- exceed the threshold of € 5,000. Friedrichshain-Kreuzberg is significantly lower, in population. In practice, however, resistance velopments, more than 300 rental apartments are with only slightly more than half of the apart- 55,312 from neighbourhoods and politicians led to a halt to be built, respectively. The “Quartier Waterkant” Major projects in Marzahn-Hellersdorf ments being built. The range of prices, on the increase in apartments in or change in the planning of new construction is being developed jointly by WBM and the Gewo- The district of Marzahn-Hellersdorf is character- other hand, is much higher and, in some pro- the 2012-2017 period projects in which four-digit numbers of residenti- bag. After completion, around 2,500 residential ised, on the one hand, by large residential buil- jects, begins from €5,000 per square metre. The al units were to be built. units, retail and leisure facilities will be available dings from the GDR era and, on the other hand in €10,000 threshold has also been exceeded in cer- Pankow is also the first among the named dis- here. Biesdorf, Kaulsdorf and Mahlsdorf sub-districts, tain new construction projects. tricts in which the share of new condominiums by Berlin’s most extensive single-family house exceeds that of rental apartments. Almost two Conversion in Neukölln areas. New construction activity in the district has Intensification in the centre thirds of the district’s new units to be realised will Neukölln also ranks among the districts with a intensified significantly in recent years, almost Like Marzahn-Hellersdorf, Tempelhof-Schöne- be put up for sale. Many of them are being crea- strong intensification of construction activity. doubling the number of new units compared berg is one of the districts in which housing con- ted in small and medium-sized projects with less Over the past two years, the number of housing with the analysis two years ago. The municipal struction has intensified significantly in recent 16 than 50 or 100 apartments and purchase prices units analysed has doubled. Around 2,400 apart- projects with more housing construction companies are currently years. It has been possible to analyse over 3,000 between €4,000 and €5,000 per square metre. The ments are now planned in 14 projects, more than than 500 units very active, which means that the proportion of apartments under construction or in the con- sub-districts of Pankow, Prenzlauer Berg and Wei- half of them for rent. The construction activity is new construction accounted for by rental hou- crete planning phase, thus with over 1,000 and ßensee are the focus of construction activity. focussed in the north of the district; only a few sing is disproportionately high. As in previous 2,000, respectively, than in 2017 and 2016. With projects are located south of the Stadtautobahn years, Marzahn-Hellersdorf thus continues to be nine projects and around 1,100 apartments, re- Top prices and neighbourhood developments motorway. Two large projects are being built in Berlin´s district with the largest new construction spectively, it is mainly focussing on the centre of New construction projects with condominiums Neukölln on land that was not previously used projects on average, and price demands are often Schöneberg. The project developers are mainly predominate in the West Berlin district of Char- for residential purposes: with around 800 rental still moderate in urban comparison, as in Trep- realising small- and medium-sized projects with 64,500 lottenburg-Wilmersdorf, similarly to Pankow. and condominium apartments as well as a day- tow-Köpenick. fewer than 100 units, and primarily as condomin- There are only a few absolute rental housing pro- care centre, the BUWOG Group is implementing maximum price for an In terms of the number of planned new apart- iums. The largest construction project in the underground parking ments, Friedrichshain-Kreuzberg was last year district is located in Friedenau on the site of the space in € in third place; today, Friedrichshain-Kreuzberg former Wilmersdorf freight station, with around is only in fifth place with just under 3,500 units. 1,500 apartments. In recent years, the volume of new The sub-district of Friedrichshain, in which it The district of Pankow is surprisingly low in was possible to analyse around twice as many the new construction ranking against the back- projects and apartments as in the sub-district drop of the high population growth both to date construction in Tempelhof-Schöneberg, of Kreuzberg, remains the spatial focus of the and expected in the future. Although the number construction activity. The area between the Ri- of project developments is only slightly lower Marzahn-Hellersdorf and Neukölln ver Spree and the east-west S-Bahn line as well than in the frontrunner district of Mitte, the num- as the neighbourhoods of old buildings in the ber of new apartments, around 3,100, equals only has intensified particularly sharply.

New apartment construction: 286 projects in development jects – in the coming years, the largest of these is the “Neumarien” project on the site of the former to be built on a former Allied housing estate in Kinderkrankenhaus Neukölln children’s hospital District Projects Total number of Total number of Total number of Quoted purchase Apartment apartments condominiums rental apartments price in €/m² size in m² Westend. A three-digit number of new units is at Mariendorfer Weg. A large proportion of the planned here; this is, however, linked to the de- rental units will be price-controlled or subsidised. Charlottenb.-W. 30 2,660 1,640 1,020 4,100 – 15,600 22 – 246* molition of the apartments which already exist After a long period of standstill, there is also mo- on the site. Schmargendorf’s Maximilians-Quar- vement (around 450 planned apartments) on the Friedrichshain-K. 23 3,470 1,470 2,000 3,900 – 12,000 24 – 350 tier, also known under the location’s former site of the former “Blub” fun pool facility in the name “Kolonie Oeynhausen”, is another major Neukölln sub-district of Britz. Lichtenberg 30 6,540 1,550 4,990 3,000 – 5,300* 30 – 175 project in which a total of around 950 rental and In comparison with Berlin’s other districts, Marzahn-H. 16 3,780 850 2,930 2,000 – 4,200 30 – 180 condominium apartments are under constructi- Reinickendorf and Steglitz-Zehlendorf, which on. Apart from a few major projects, construction have not yet been mentioned, have a weaker Facts Mitte 49 9,270 4,040 5,230 4,040 – 14,800* 19 – 360* activity in Charlottenburg-Wilmersdorf is con- profile in terms of new construction volume. In centrated on small- and medium-sized projects Steglitz-Zehlendorf, it was possible to identify a Neukölln 14 2,440 1,140 1,300 3,100 – 6,900 22 – 130* Project developments with less than 50 or 100 residential units. The sel- similar number of projects as in Marzahn-Hel- with a focus on the Pankow 42 3,090 1,990 1,100 3,380 – 7,700 23 – 192 lers’ price demands, on the other hand, are often lersdorf or Tempelhof-Schöneberg, but, due to rental segment at a high level; with prices exceeding €8,000 per the rather small number of apartments in cons- — Reinickendorf 8 680 410 270 3,000 – 4,700* 34 – 140 square metre, luxurious properties are by no me- truction projects, the number of units under Five-digit purchase ans unusual in the district. construction there is clearly below that of the Spandau 15 2,530 800 1,730 3,000 – 6,040 28 – 200 prices per square me- In Spandau, new construction activity is other two districts. With the “Steglitzer Kreisel” tre no longer unusual Steglitz-Z. 16 1,120 870 250 3,970 – 11,500 32 – 312* concentrated primarily in the Hakenfelde neigh- project, however, in which the CG Group is plan- bourhood in the district’s north. More than 1,000 ning to build over 300 apartments, there is one Tempelhof-S. 15 3,160 800 2,360 2,500 – 13,060 24 – 175* residential units are currently under construc- major project in the district. The marketing focus Movement after long tion or in concrete planning and, according to the in Steglitz-Zehlendorf is in the condominium Treptow-Köpenick 28 4,180 1,250 2,930 1,960 – 6,200 35 – 250 periods of standstill current status, half of them are intended as rental segment, as is the case in Reinickendorf. Here, — Berlin 286 42,920 16,810 26,110 1,960 – 15,600* 19 – 360* apartments and half as condominiums. The WBM with more than 300 apartments and a nursery in Municipal housing Wohnungsbaugesellschaft Berlin-Mitte, a munici- the Cité Foch, there is a large project underway in companies remain * Considerably higher in some cases Source: CBRE, own research, as per October 2018 pal housing company, is planning to build a larger the sub-district of Wittenau. ■ very active

16 17 Metropolitan area Market Housing Market Report Berlin 2019

Quoted purchase price for detached houses Commuters are stimula- (median) in €/m² 20184 2,900 and above 2,600 to 2,899 ting the region’s market 2,300 to 2,599

to 2,299 Approximately one million people live in the area surrounding Ber- n/a lin. Rents and prices are strongly dependent on the location’s posi- tion, size and attractiveness.

As determined in the evaluation of market data median asking rents, Bernau, north-east of Berlin, and trends for 55 cities and municipalities, rents also falls within this range. for apartments and prices for single-family and Towns with asking rents of between €7.00 and duplex houses have also risen significantly in the €7.99 per square metre are mostly smaller towns metropolitan area of Berlin. 19 of them, which to- further away from Berlin. However, three larger +6.4 gether had a population of around 305,000 in 2017, cities with over 20,000 inhabitants also fall into Population trend in the metropolitan area are located in Berlin’s “agglomeration”, as has this category: the industrial towns of Ludwigsfel- since 2011 in % been defined by the Federal Institute for Research de south of Berlin, Hennigsdorf to the north-west on Building, Urban Affairs and Spatial Develop- and Strausberg to the east of the city. Although ment (BBSR) according to high daily population they have S-Bahn or regional train connections, it density and intensive commuter relationships. takes around half an hour to one hour to travel to A further 35 cities and municipalities with a the city centre of Berlin. population of around 536,000 are located in the “closer interlinked area”, from which the majo- Maximum prices in the villa suburbs rity of commuters head for Berlin. Potsdam, the With regard to the development of rental prices, 6,157 state capital of Brandenburg, adds an additional the municipalities surrounding Berlin are follo- Newly finished aspect as the only major city in the metropolitan wing the trend of the capital city. Over the past apartments in the area of Berlin, thus with the largest housing mar- five years and in the majority of cases, average metropolitan area 2017 The highest prices have been determined in the south-west around Potsdam; the 4,667 lowest to the east of the city and in small Median asking price for individual houses in settlements further away from Berlin. Kleinmachnow in €/m2 Potsdam Bernau ket. In the first three quarters of 2018, Potsdam’s asking rents have risen overall by double-digit 16,231 (ranked 1st) 22,841 (ranked 32nd) -5,011 (ranked 52nd) 21,609 (ranked 43rd) median asking rent was €9.86, only €0.48 below rates. Purchase prices for detached and duplex Commuter balance1 Purchasing power (in EUR) Commuter balance1 Purchasing power (in EUR) the comparative value in Berlin. With an average houses have also risen almost consistently. Klein- of around €10 per square metre, offers in the mu- machnow, whose market for high-quality de- 9 nicipalities of Schönefeld and Kleinmachnow, tached homes is closely intertwined with that of Surrounding municipalities 16.0 (ranked 35th) 6,634 (ranked 1st) 2,581 (ranked 25th) 1,143 (ranked 5th) which directly border on Berlin, claimed the hig- Berlin-Zehlendorf, is by far the leader here. The with a positive commuters Rental price trend 2012–17 in %2 Completed apartments 2012-173 Detached houses purchase price 20184 Completed Apartments 2012-173 hest rents during this period. prices demanded for small-scale residential pro- balance perties have already significantly exceeded the € Charming landscapes - higher rents 4,000 per square metre mark. Schönefeld Glienicke/Nordbahn In a further dozen locations, the median asking Due to its size, Potsdam of course has also rent level ranged between €9.00 and €9.99. Towns experienced the liveliest building activity in re- close to Berlin with scenic attractions, such as Bir- cent years. More than 6,500 new apartments were 10.10 (ranked 2nd) 22,774 (ranked 33rd) -3,446 (ranked 47th) 28,845 (ranked 2nd) kenwerder, Stahnsdorf, Teltow and Woltersdorf, built here between 2012 and 2017, most of them Asking rent 20184 Purchasing power (in EUR) Commuter balance1 Purchasing power (in EUR) ranked predominantly at the top of this range, in apartment buildings. With a total of more than not forgetting towns such as Falkensee and Kö- 1,000 completed units each, the cities of Falken- 3,002 (ranked 8th) 613 (ranked 16th) 16.9 (ranked 33rd) 522 (ranked 21st) nigs Wusterhausen. In the range of average as- see, Königs Wusterhausen, Teltow, Bernau and Detached houses purchase price 20184 Completed Apartments 2012–173 Rental price trend 2012–17 in %2 Completed Apartments 2012–173 king rents between €8.00 and €8.50, Oranienburg, Oranienburg also recorded brisk construction with almost 44,000 inhabitants in 2017, deserves activity. In contrast to Potsdam, however, the ma- (1) Employees subject to social insurance requirements as of 30.06.2017 (2) Average asking rent (median) (3) New residential units in residential buildings a special mention as the most populous town af- jority of the new apartments here were built in (4) Median in EUR/m², Q1-Q3 Sources: CBRE based on data from empirica-systeme, Michael Bauer Research (purchasing power), Federal Employment Office ter Potsdam in the surrounding area. In terms of detached and duplex houses. ■ (unemployment rate), Berlin-Brandenburg Statistics Office, Edited by: CBRE

18 19 Housing Market Report Berlin 2019

Part B

Costs Where is Berlin particularly expensive, where can cheaper niches be found? Spatial distribution of rents and housing costs in the city at a glance. Introduction: Housing Costs Costs Housing Market Report Berlin 2019

striking feature here. The rent level there is high, in the most varied locations and conditions. The but so is the average purchasing power. Mitte, na- most striking feature that all areas share is their Gap between the city mely in Moabit Wedding, is also strongly repre- location outside of the S-bahn ring. sented in this category. Neither are traditionally The 16 areas, in which the average asking affluent districts, but due to their proximity to rents are lower than 20 per cent of the average centre and the outskirts the city centre they are now strongly in the focus local household purchasing power, form one cat- of prospective tenants. In the category between egory of its own. They are located almost exclu- 26.00 and 28.90 per cent, particularly noticeable sively on the outskirts of the city and comprise Rent levels and the share of housing costs strongly depend on the is a high concentration of areas in western and large parts of the large housing estates Marzahn southern Charlottenburg-Wilmersdorf. Purchas- and Hellersdorf. But they also include some lo- spatial location. The most favourable conditions are predominantly ing power is consistently strong and is in a favou- cations far from the city centre with many single- in the large housing estates of the 1960s to 1980s. rable proportion to asking rents. The areas in the family houses, quite high purchasing power and two segments with housing cost ratios of between moderate rent levels, such as Bohnsdorf, Mahls- 20.0 and 22.9 and 23.0 to 25.9 per cent are located dorf and Müggelheim. ■ The 40,154 asking rents recorded for this report hoods in the vicinity ranging between €13.00 Facts are assigned to Berlin’s 190 postcode areas. This and €13.99. These also include sought-after neigh- allows a precise small-scale view and, therefore, a bourhoods of old buildings in the east of Fried- Expensive The biggest apartments The smallest apartments much more precise picture of the asking rents on richshain-Kreuzberg and bordering on Neukölln historical Mitte the level of the twelve districts. The absolute, ave- North, as well as in Pankow’s Prenzlauer Berg. The — Postcode District Area Apartment Postcode District Area Apartment rage asking rent per square metre and month in Grunewald villa district (14193) is the only area 19 neighbourhoods size1 in m2 size1 in m2 each area, on the one hand, is very informative; outside the inner city in this asking rent class. over €13/m² on the other hand, information can be obtained 10623 Charlottenburg-W. Savignyplatz 97 12681 Marzahn-H. Bitterfelder Strasse 55 from their relationships to the local purchasing Higher rents almost only in the city centre power per household, the housing cost ratio. Both The price group between €12.00 and €12.99, espe- Cheaper high-rise 10629 Charlottenburg-W. Sybelstrasse 93 10553 Mitte Beusselstrasse 55 values are highest in the city centre, tending to be cially, covers many parts of the city centre. It is building areas 14089 10367 Lichtenberg Stadtpark Lichtenberg 54 lower in peripheral locations. strongly concentrated in Charlottenburg-Wil- — Spandau Gatow/Kladow 90 6 neighbourhoods There are some areas with relatively low ask- mersdorf, where nine areas of this category can 14195 Steglitz-Z. Dahlem 89 13509 Reinickendorf Borsigwalde 53 ing rents, but relatively high purchasing power, be found. The west and centre of Kreuzberg, as under €7/m² where households have some leeway for other well as Neukölln North and Schöneberg, make up 10785 Mitte Potsdamer Platz 89 13051 Lichtenberg Malchow 48 expenditures. The highest housing cost ratios, on a second focal point. This group also includes one the other hand, are also found predominantly in residential area outside the city centre: Dahlem (1) Median of offers Source: CBRE based on data from empirica-systeme GmbH the postcode areas which have the highest asking (14194). The areas between €11.00 and €11.99 rents. Purchasing power per household there is are mainly located on the outskirts of the city usually only averagely high. centre near the S-Bahn ring or close outside of it The highest average rents (net, excl. utilities) The lowest average rents (net, excl. utilities) in various districts. In the next lower categories, Lower priced stocks also in the city centre the cheapest inner-city areas can be found; addi- Postcode District Area Basic rent1 Postcode District Area Basic rent1 A glance at the map illustrates a clear picture of tionally, decentralised locations in Pankow and in €/m²/Monat in €/m²/Monat the rent levels: nine of the ten most expensive Steglitz-Zehlendorf also belong to these classes. areas are located in or adjacent to the historic dis- 42 areas, the largest group, account for a ran- 10117 Mitte Unter den Linden 15.93 12689 Marzahn-H. Ahrensfelde 6.87 trict of Mitte. However, the building stock in Ber- ge of between €9.00 and €9.99. The only charac- lin’s central location is also very heterogeneous teristic that all quarters share is their relatively 10785 Mitte Potsdamer Platz 15.73 13059 Lichtenberg Wartenberg 6.61 in part. In addition to various new and renovated remote location. This also applies to the next low- 10179 Mitte Jannowitzbrücke 15.48 13439 Reinickendorf Märkisches Viertel Ost 6.50 old buildings, there are numerous prefabricated er category of asking rents. The picture only be- and modest old buildings, municipal estates as comes clearer again in the lowest price categories 10963 Friedrichshain-K. Möckernstrasse 15.26 13593 Spandau Heerstr./Wilhelmstr. 6.38 well as houses disadvantaged by their location below €8.00: high-rise buildings from the 1960s (such as heavy traffic) in which the rental condi- to 1980s can be found in almost all areas of Berlin. 10178 Mitte Hackescher Markt 15.00 12619 Marzahn-H. Kaulsdorf-Nord 6.32 tions are even affordable for households with me- dium or low incomes. High pressure also in the city’s outskirts (1) Median of offers Source: CBRE based on data from empirica-systeme GmbH In terms of housing cost ratios, the historic district Special position north of Berlin’s Central Station of Mitte and the area around Kurfürstendamm Privately financed new construction is -gene dominate the category starting at 38.0 per cent. The highest housing cost ratio The lowest housing cost ratio rating a noticeable effect on rent development. One category lower, it shows a different picture: The 10557-postcode area around the Hauptbahn- in addition to well-known high-price locations, Postcode District Area Housing cost Postcode District Area Housing cost hof central station is a unique example of this. A there are also areas on the outskirts of the inner ratio1 in % ratio1 in % significant increase in the number of offers here city with increasing attractiveness but tradition- has been accompanied by an enormous increase ally low purchasing power, such as Sonnenallee 10785 Mitte Potsdamer Platz 47.4 12619 Marzahn-H. Kaulsdorf-Nord 17.8 in rents. This is probably due to the many new North in Neukölln (12045), Humboldthain in Mitte buildings along Heidestrasse in the Europacity (13355) and Ostkreuz in Friedrichshain-Kreuzberg 10178 Mitte Hackescher Markt 42.9 12679 Marzahn-H. Raoul-Wallenberg-Str. 17.6 subdistrict. In 2015, the median there was still (10245). Even in the next lower category, between 10115 Mitte Chausseestrasse 40.2 12681 Marzahn-H. Bitterfelder Strasse 16.7 well below €10.00 per square metre; it had risen 32.0 and 34.9 per cent of the housing cost ratio, al- to €15.00 by 2018. most all postcodes are still in the city centre. 10179 Mitte Jannowitzbrücke 39.7 13059 Lichtenberg Wartenberg 16.6 In the highest rental category, only one area The areas between 29.0 and 31.9 per cent is located outside the city centre: the area around are also still predominantly located within the 10629 Charlottenburg-W. Sybelstrasse 39.1 13051 Lichtenberg Malchow 15.8 Ludwigkirchplatz (postcode 10719) south of Kur- S-bahn ring, but no longer exclusively. One clus- fürstendamm. There are also other neighbour- ter in northern Charlottenburg-Wilmersdorf is a (1) Average asking rent (incl. utilities) in relation to household purchasing power Source: CBRE based on data from empirica-systeme, MB Research, BBU

22 23 Rental prices Costs Housing Market Report Berlin 2019

Basic rent for apartments in apartment buildings Berlin rental in € / m2 / month 13.00 and above 12.00 to 12.99 prices 2018 11.00 to 11.99 10.00 to 10.99 The map provides an overview of the 9.00 to 9.99 median asking rents in the Berlin postcode 8.00 to 8.99 areas in the first three quarters of 2018. 7.00 to 7.99 to 6.99 Insufficient number of cases

8 7 9 5 3 4 1 2 11 10 6 12 1 Charlottenburg-Wilmersdorf 2 Friedrichshain-Kreuzberg 3 Lichtenberg 4 Marzahn-Hellersdorf 5 Mitte 6 Neukölln 7 Pankow 8 Reinickendorf 9 Spandau

10 Steglitz-Zehlendorf 11 Tempelhof-Schöneberg 12 Treptow-Köpenick

Explanation of the Source: CBRE based on data from empirica-systeme GmbH methodology: see page 78 © Cartography: Nexiga, 2006–2014 Tom Tom

24 25 Housing cost ratio Costs Housing Market Report Berlin 2019

Household housing Housing cost ratio cost ratio in % 38.0 and above 35.0 to 37.9 Berlin 2018 32.0 to 34.9 29.0 to 31.9 The housing cost map illustrates the 26.0 to 28.9 23.0 to 25.9 mathematical ratio between asking rents, 20.0 to 22.9 apartment sizes and household purchasing to 19.9 power in the Berlin postcode areas. Insufficient number of cases

8 7 9 5 3 4 1 2 11 10 6 12 1 Charlottenburg-Wilmersdorf 2 Friedrichshain-Kreuzberg 3 Lichtenberg 4 Marzahn-Hellersdorf 5 Mitte 6 Neukölln 7 Pankow 8 Reinickendorf 9 Spandau

10 Steglitz-Zehlendorf 11 Tempelhof-Schöneberg 12 Treptow-Köpenick

Explanation of the Source: CBRE based on data from empirica-systeme GmbH, BBU and MB Research methodology: see page 78 © Cartography: Nexiga, 2006–2014 Tom Tom

26 27 Housing Market Report Berlin 2019

Part C

Districts The capital city’s 190 postcode areas are multifaceted and colourful. Small-scale portraits of the 12 Berlin districts, their characteristics and quirks. Charlottenburg-Wilmersdorf Districts Housing Market Report Berlin 2019

Basic rent for apartments in apartment buildings in € / m2 / month

13.00 and above 12.00 to 12.99 11.00 to 11.99 10.00 to 10.99 9.00 to 9.99 8.00 to 8.99 7.00 to 7.99 to 6.99 Insufficient number of cases

Charlottenburg-

Wilmersdorf

Berlin’s bourgeois-urban district covers the west of the inner city. Kur- fürstendamm is its backbone; there are well-kept old building areas all around. The leafy locations in the west of the district are also popular.

When the Wall divided Berlin, the Kaiser Wilhelm cludes such coveted locations as Savignyplatz and 10.4 Memorial Church between Kurfürstendamm and Lietzensee. Further north, Bismarckstrasse and Green space per Zoologischer Garten was West Berlin’s city cen- Kaiserdamm form part of Berlin’s major east-west inhabitant in m2 tre. Since reunification, tourists and offices have axis. The areas further on from here no longer once again conglomerated in the city’s historic characterise themselves as ‘the city-centre’; none- 1 2 3 centre further east. Charlottenburg-Wilmers- theless, some cultural highlights such as the Deut- 20 dorf has regained its former role as a bourgeois sche Oper and Charlottenburg Palace are situated Galleries per Paul-Hertz housing estate Droysenstrasse Hagenplatz second city-centre – somewhat quieter and more here. The district’s two most modest locations are 100,000 inhabitants The Paul-Hertz housing estate was erected Around Droysenstrasse, not far from Adenauer- Grunewald in the south-west of the district is sedate than Berlin-Mitte, but almost as expensive. north of the River Spree: the area around Mieren- by GEWOBAG between 1960 and 1965. With platz, it feels a little bit like New York. Because already one of Berlin’s most exclusive residen- The side streets leading off Kurfürstendamm are dorffplatz, which is somewhat isolated, and Char- free-standing four- and eight-story buildings, this is where Berlin’s narrowest office building tial areas. The beautiful single-family houses 494 it was a prime example of a “spacious city”. can be found, at No.70 Kurfürstendamm, the and apartment buildings, as well as the stately characterised by relaxed solidity, premium local lottenburg North which emerged beyond the Ring- Ø distance to the next The streets were named after resistance fight- little sister of the world-renowned Flatiron villas on and around Hagenplatz, are perhaps infrastructure and centrality. bahn and the urban motorway near Tegel Airport “Spaeti” convenience ers against the Nazi dictatorship. Here, due Building. The “Handtuch” (towel) house, designed even a little posher. The neighbourhood’s best Cutting through lively urban districts with and Siemensstadt in the post-war period. store in metres to its proximity to the Volkspark Jungfernheide, by Helmut Jahn in 1994, was built on an plot coffee house is also located here. This is an good addresses, the two almost parallel main axes Wilmersdorf is located to the south of Kurfürs- residents enjoy plenty of green areas. of land only 2.5 metres wide. excellent place to reside. to Kurfürstendamm are, however, less renowned. tendamm – predominantly residential, but also This is particularly true of Kantstrasse, which in- with some lively neighbourhood axes such as ▶ Source: CBRE based on data from empirica-systeme GmbH © Cartography: Nexiga, 2006–2014 Tom Tom

30 31 Charlottenburg-Wilmersdorf Districts Housing Market Report Berlin 2019

Güntzelstrasse and large office centres around were common at that time have not detracted Rent and housing costs Fehrbelliner Platz and on Bundesallee. The area from the area’s popularity. This area borders on The district in small-scale analysis to the west of this, between Ludwigkirchplatz, Ho- Grunewald, an upper-class villa neighbourhood henzollerndamm and Kurfürstendamm, had the situated between the forest of the same name district’s highest asking rents in 2018. and the outer end of Kurfürstendamm. Westend Housing market data Housing cost 3,083 Schmargendorf, in the southwest, is predo- is also a premium and leafy urban district. In kee- 2012 – 2017 minantly a leafy, well-maintained multi-storey ping with its bourgeois character, the apartments Postcode Number Basic rent Basic rent in Basic rent in Apartment Total Household Housing housing increase building area from the first half of the 20th cen- offered here used to be, on average, amongst the of rental in all market bottom market top market size1, avg. housing purchasing cost ratio3 tury. The small and economical apartments that largest in Berlin. ■ offers segments1 segment1 segment1 in m² cost2, avg. power, avg. in % in € / m2 / month in € / m2 / month in € / m2 / month in € / month in € / month

10585 220 13.11 (15) 7.59 (41) 17.50 (50) 70.4 (45) 1,116 (22) 3,039 (123) 36.7 (13) 10587 173 11.74 (52) 7.45 (51) 16.18 (69) 61.4 (140) 889 (80) 3,175 (99) 28.0 (78) The district in comparison 10589 200 11.61 (57) 7.31 (67) 16.71 (60) 64.7 (111) 928 (68) 2,942 (145) 31.5 (40) Where is the district positioned in the urban fabric? 10623 82 12.74 (25) 8.48 (10) 19.02 (23) 96.5 (1) 1,492 (4) 3,910 (30) 38.2 (8) -214 10625 149 12.24 (38) 8.57 (8) 20.00 (12) 65.9 (92) 986 (47) 3,314 (79) 29.8 (57) 2017 natural net 10627 234 12.58 (29) 8.62 (7) 17.11 (54) 71.3 (38) 1,092 (27) 3,156 (105) 34.6 (21) population balance

10629 165 13.77 (11) 8.82 (4) 19.50 (18) 93.0 (2) 1,535 (3) 3,928 (28) 39.1 (5)

10707 165 12.42 (36) 8.10 (23) 18.89 (27) 81.0 (11) 1,227 (12) 3,978 (25) 30.8 (49) 29.7 5.1 12.00 % 2018 housing % 2008 – 2017 con- € /m2 2018 (Q1 – Q3) 10709 127 11.51 (60) 8.14 (20) 20.00 (12) 69.2 (55) 985 (48) 3,495 (58) 28.2 (76) cost ratio struction completions asking rent 10711 202 12.89 (21) 7.97 (28) 18.07 (40) 69.5 (50) 1,086 (29) 3,691 (41) 29.4 (62)

10713 129 10.71 (85) 6.94 (98) 15.01 (88) 65.0 (102) 874 (85) 3,082 (114) 28.4 (72)

10715 205 11.50 (62) 7.43 (54) 16.07 (72) 66.0 (85) 939 (60) 3,304 (81) 28.4 (72) 42.8 Share of average housing costs Of all completions in Berlin, Asking rent (median) in comparison 10717 243 12.36 (37) 8.69 (6) 17.00 (56) 65.3 (99) 985 (48) 3,486 (60) 28.3 (75) Living space per (basis: asking rent) of the average share of completed apartments with the maximum value of the districts inhabitant in m2 household purchasing power in new residential buildings (Friedrichsh.-Kreuzb., €12.99/m²) 10719 142 14.00 (10) 7.78 (34) 18.36 (35) 80.9 (12) 1,354 (6) 3,865 (31) 35.0 (20)

10789 42 12.54 (30) 7.02 (88) 18.79 (28) 76.8 (23) 1,173 (16) 3,838 (33) 30.6 (50)

13627 131 8.40 (165) 6.32 (148) 12.38 (146) 59.0 (164) 657 (170) 2,601 (188) 25.3 (100) 14050 130 10.50 (91) 7.39 (56) 16.19 (68) 79.5 (20) 1,052 (33) 3,534 (55) 29.8 (57) The river and canal banks in 14052 165 12.18 (41) 8.33 (12) 17.53 (48) 67.5 (67) 1,006 (43) 3,841 (32) 26.2 (94) 14053 1 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 3,276 (87) n/a n/a 23.3 the north of the district are now the 14055 96 11.78 (49) 7.88 (31) 17.79 (43) 81.5 (10) 1,183 (14) 4,070 (20) 29.1 (66) Share of population aged 65 and older in % focal points of new construction. 14057 206 12.99 (20) 7.88 (31) 22.00 (4) 75.0 (25) 1,179 (15) 3,768 (36) 31.3 (42)

14059 240 11.08 (70) 6.17 (156) 16.76 (59) 64.0 (115) 884 (83) 2,982 (137) 29.6 (59)

14193 247 13.00 (17) 9.00 (2) 19.60 (16) 80.0 (16) 1,258 (10) 4,592 (6) 27.4 (83)

14197 155 11.04 (72) 7.02 (88) 15.63 (80) 65.0 (103) 895 (76) 3,203 (97) 27.9 (79) 14199 135 11.39 (63) 7.65 (38) 16.46 (65) 71.3 (40) 1,007 (42) 3,636 (48) 27.7 (81) New construction in the district District 3,984 12.00 7.39 18.06 70.0 1,031 3,468 29.7 Two current project developments in detail Berlin 40,154 10.34 6.46 17.13 65.0 833 3,258 25.6

(1) Median (2) Includes operating costs: 2.26 €/m² (eastern Berlin), 2.73 €/m² (western Berlin) and 2.50 €/m² (all of Berlin) (3) Rent (incl. utilities) as percent Park Carré Residenz am of household purchasing power () Rank among the 186 postcodes with rental data Source: CBRE based on data from empirica-systeme GmbH, BBU (operating (3.BA) Ernst-Reuter-Platz costs), Michael Bauer Research; compiled by CBRE Developer: PROJECT Immobilien Developer: CG Gruppe Area: Wilmersdorf Area: Charlottenburg Street: Durlacher Strasse Street: Fraunhoferstrasse The side streets leading off Kurfürsten- Residential Units: 64 Residential Units: 141 Type of use: condominium Type of use: rent damm are characterised by solidity, premium Sale prices €/m2: 4,270 – 7,500 Rent €/m2: 14.00 – 19.00 local infrastructure and centrality.

32 33 Friedrichshain-Kreuzberg Districts Housing Market Report Berlin 2019

Basic rent for apartments in apartment buildings in € / m2 / month

13.00 and above 12.00 to 12.99 11.00 to 11.99 10.00 to 10.99 9.00 to 9.99 8.00 to 8.99 7.00 to 7.99 to 6.99 Insufficient number of cases

Friedrichshain- Kreuzberg

With a mix of old Wilhelminian and post-war buildings, the district borders directly on the city centre, has a distinct innercity character and Berlin’s highest population density.

The two parts of the district are clearly separated of Frankfurter Allee. The once modest residential 6.9 by the River Spree, but only directly connected areas are turning into sought-after neighbour- Green space per by one single bridge. With comparable types of hoods, especially for more affluent tenants – not inhabitant in m2 areas, however, they are very similar in terms of always to the delight of long-established residents. architecture, economics and social fabric. Loca- With the historical “SO 36” postal district ab- 1 2 3 tions with an inner-city character can be found breviation, its counterpart in Kreuzberg went 17 in Kreuzberg near Potsdamer Platz and Anhalter through various phases during the post-war peri- Galleries per Chamissokiez Weberwiese Stralauer Halbinsel Bahnhof as well as around Checkpoint Charlie. In od: decay, due to the planned demolition of some 100,000 inhabitants The quiet square, named after Adelbert von Offering residents a break from city life, the The Stralauer Halbinsel peninsula is the dis- Friedrichshain, with internationally renowned areas as well as motorway construction, then im- Chamisso, is surrounded by popular Wilhelmin- leafy Weberwiese neighbourhood provides a trict’s most idyllic spot. Water sparkling in the locations such as the Mercedes-Benz Arena, the migration, due, among other things, to a colourful ian houses from the 19th century. In the adja- contrast to Karl-Marx-Allee and Warschauer sunshine, it’s the ideal place for lovers of 186 cent Bergmannstrasse, small, often still owner- Strasse. The nine-storey “Hochhaus an der water sports, while romantic spots are tempt- Berghain club and the East Side Gallery, there are mix of inhabitants of Turkish descent, artists and Ø distance to the next managed shops, restaurants, cafés and bars Weberwiese” high rise building, built at No. ing for picnics and strolling. Due to the many densely populated areas with a strong focus on squatters. Today, due to its international reputation “Spaeti” convenience line the street. The popular indoor food market 25 Marchlewskistrasse, mostly from bricks new buildings, this peninsula has become services, especially at Ostbahnhof station. and high demand, the rents on offer in Kreuzberg store in metres Marheineke Markthalle draws a mixed crowd found while clearing war rubble, was Berlin’s in the meantime one of Berlin’s most popular Old Wilhelmenian buildings occupy larger are among the highest outside of the city centre. of foodies and locals. first socialist building. residential areas. parts of the two districts and characterise almost The district’s relatively leafy areas, located the whole of eastern Friedrichshain on both sides further away from the River Spree, are somewhat ▶ Source: CBRE based on data from empirica-systeme GmbH © Cartography: Nexiga, 2006–2014 Tom Tom

34 35 Friedrichshain-Kreuzberg Districts Housing Market Report Berlin 2019

quieter, for example near the Volkspark in Fried- of asking rents over several years. The partly sty- Rent and housing costs richshain, as well as in central and western lish and almost always colourful old building The district in small-scale analysis Kreuzberg with the partly idyllic Landwehr Ca- areas are price hotspots. Rents in the residential nal, the historical Viktoriapark and the new park areas of the post-war period are lower, for exam- at Gleisdreieck, which is strongly oriented to- ple on Karl-Marx-Allee or between the Landwehr Housing market data Housing cost 5,945 wards sports, games and physical exercise. Canal up to the border of the Mitte district. Al- 2012 – 2017 Due to the brisk demand and, at the same time, though these urban areas are far less colourful Postcode Number Basic rent Basic rent in Basic rent in Apartment Total Household Housing housing increase not much activity in new construction, the district and the apartments are often modest, they are of rental in all market bottom market top market size1, avg. housing purchasing cost ratio3 as a whole has been one of Berlin’s leaders in terms now very popular due to of their central location. ■ offers segments1 segment1 segment1 in m² cost2, avg. power, avg. in % in € / m2 / month in € / m2 / month in € / m2 / month in € / month in € / month

10243 472 13.41 (13) 7.42 (55) 21.90 (5) 62.4 (131) 978 (51) 2,868 (152) 34.1 (23) 10245 656 13.50 (12) 8.73 (5) 17.51 (49) 70.0 (46) 1,103 (25) 3,020 (126) 36.5 (14) The district in comparison 10247 689 12.51 (32) 8.13 (21) 17.57 (47) 63.0 (124) 931 (65) 2,948 (144) 31.6 (38) Where is the district positioned in the urban fabric? 10249 473 11.51 (60) 7.01 (91) 16.14 (71) 65.0 (103) 895 (76) 3,030 (125) 29.5 (61) 2,094 10961 211 12.86 (22) 7.53 (45) 18.00 (41) 62.0 (135) 967 (56) 3,010 (129) 32.1 (35) 2017 natural net 10963 208 15.26 (4) 7.84 (33) 21.55 (7) 61.1 (144) 1,100 (26) 3,514 (56) 31.3 (43) population balance

10965 158 12.79 (24) 7.23 (73) 18.13 (38) 71.3 (39) 1,106 (23) 3,069 (117) 36.1 (16)

10967 167 12.63 (27) 6.90 (102) 18.95 (26) 59.5 (160) 914 (70) 3,007 (130) 30.4 (52) 33.3 9.5 12.99 % 2018 housing % 2008 – 2017 con- € /m2 2018 (Q1 – Q3) 10969 198 12.68 (26) 5.77 (177) 17.63 (45) 64.5 (112) 994 (44) 2,812 (163) 35.4 (18) cost ratio struction completions asking rent 10997 169 12.22 (39) 6.38 (143) 19.09 (22) 62.7 (127) 937 (61) 2,825 (162) 33.2 (27)

10999 192 13.00 (17) 6.69 (112) 19.49 (19) 66.9 (77) 1,052 (34) 3,162 (103) 33.3 (26)

District 3,593 12.99 7.03 19.15 64.4 998 2,994 33.3 36.8 Share of average housing costs Of all completions in Berlin, Asking rent (median) in comparison Berlin 40,154 10.34 6.46 17.13 65.0 833 3,258 25.6 Living space per (basis: asking rent) of the average share of completed apartments with the maximum value of the districts inhabitant in m2 household purchasing power in new residential buildings (Friedrichsh.-Kreuzb., €12.99/m²) (1) Median (2) Includes operating costs: 2.26 €/m² (eastern Berlin), 2.73 €/m² (western Berlin) and 2.50 €/m² (all of Berlin) (3) Rent (incl. utilities) as percent of household purchasing power () Rank among the 186 postcodes with rental data Source: CBRE based on data from empirica-systeme, BBU (operating costs), Michael Bauer Research; compiled by CBRE The partly stylish and almost always 10.0 colourful areas of old buildings are the price Share of population aged 65 and older in % hotspots in both parts of the district.

New construction in the district Two current project developments in detail Almost the entire district is located within WAVE waterside Carré the S-bahn ring. The only exception is living berlin Sama-Riga Developer: Bauwerk Capital Developer: CG Gruppe the Stralauer Halbinsel peninsula, which Area: Friedrichshain Area: Friedrichshain Street: Stralauer Allee Street: Rigaer Strasse continues to see a high level of new Residential Units: 161 Residential Units: 115 Type of use: condominium Type of use: rent construction activity and where numerous Sale prices €/m2: from 4,230 Rent €/m2: 11.00 – 13.00

apartments have views of the water. © Bauwerk Capital

36 37 Lichtenberg Districts Housing Market Report Berlin 2019

Basic rent for apartments in apartment buildings in € / m2 / month

13.00 and above 12.00 to 12.99 11.00 to 11.99 10.00 to 10.99 9.00 to 9.99 8.00 to 8.99 7.00 to 7.99 to 6.99 Insufficient number of cases

Lichtenberg Located to the east of Berlin's city centre, this district offers good er infrastructure, plenty of leafy spaces and a wide choice of apartments. These range from historic villas to brand new multi-storey buildings.

Lichtenberg stretches from the eastern edge ple, once a pioneer project for serial housing 19.2 of Berlin’s city centre on the S-Bahn ring to the construction, a pond and surrounding park add Green space per open fields and meadows on the city’s outskirts. substantial quality of life. The residential areas inhabitant in m2 Located not far from the city centre, there are of Friedrichsfelde are close to the generously areas of old buildings which have grown consi- landscaped Tierpark zoo; the Herzberge Land- derably more attractive as a result of renovations scape Park is only a short distance away from 2 and new construction – such as in Victoriastadt, the area on Landsberger Allee. Finally, the large Galleries per Alt-Lichtenberg and the Weitlingkiez area. The Neu-Hohenschönhausen housing estate, cons- 100,000 inhabitants water locations at the Rummelsburger Bucht are tructed in the 1980s, is characterised by large 1 2 3 also particularly attractive. leafy courtyards and its proximity to Barnimer 895 The villa areas in Karlshorst and in Alt-Hohen- Feldmark. Dorf Malchow Orankesee Victoriastadt Ø distance to the next schönhausen with Lakes Obersee and Orankesee One of Berlin’s largest industrial estates is In 1878, the writer Theodor Fontane travelled With exclusive terraced and duplex houses, Victoriastadt and the Kaskelkiez enhance this “Spaeti” convenience from Alexanderplatz to Malchow and described a villa colony was built in 1893 on the banks neighbourhood with beautiful houses, such as as scenic highlights in the district’s northern located in the centre of the district around Sieg- store in metres part radiate greater suburban appeal. With their friedstrasse and Josef-Orlopp-Strasse. It is easi- his beautiful observations in “Eine Weihnachts- of Lake Orankesee nicknamed the “Wannsee the Schrotkugelturm tower, small streets and wanderung” tale. He was certainly enthusiastic of the North”. The Mies van der Rohe house is leafy courtyards, and dim street lights. The artist lovingly restored houses from the 19th and ear- ly accessible for employees and customers, but about the many beautiful, forested areas here. an architectural highlight. The 45-hectare Heinrich Zille enjoyed living here in this former ly 20th century, both areas are among the most has little impact on the surrounding residential The historical buildings at the parish house Sportforum Berlin is not far away; this Olympic working-class district, with its lovingly renovated sought-after neighbourhoods east of the city. areas. The Dong Xuan Center, a Vietnamese mar- and the high quality of living remain a special base is an important location for top-class Wilhelminian buildings which remained largely The green natural surroundings often the ket in old and new halls, is known far beyond the attraction today. and competitive sports. unscathed in the war. larger built-up areas dating back to the GDR era: district’s borders. The atmosphere is not very ro- in the Am Fennpfuhl housing estate for exam- mantic, but bustling and colourful. ▶ Source: CBRE based on data from empirica-systeme GmbH © Cartography: Nexiga, 2006–2014 Tom Tom

38 39 Lichtenberg Districts Housing Market Report Berlin 2019

In the last few years, Lichtenberg’s housing mar- than in the city centre. The new construction of Rent and housing costs ket has experienced a strong upswing. On the multi-storey buildings is dominated above all by The district in small-scale analysis one hand, the district is well connected to the the HOWOGE; private developers are building city centre by S-Bahn, U-Bahn and tram lines; housing estates with a high proportion of sin- on the other hand, prices and rents are still sig- gle-family houses. The individual densification Housing market data Housing cost 7,151 nificantly lower than in other places. There was of loosely built-up small residential areas is also 2012 – 2017 and still is more available land to be developed continuing. ■ Postcode Number Basic rent Basic rent in Basic rent in Apartment Total Household Housing housing increase of rental in all market bottom market top market size1, avg. housing purchasing cost ratio3 offers segments1 segment1 segment1 in m² cost2, avg. power, avg. in % in € / m2 / month in € / m2 / month in € / m2 / month in € / month in € / month

10315 406 9.87 (112) 6.50 (134) 13.96 (117) 56.1 (175) 680 (160) 2,956 (141) 23.0 (127) 10317 360 11.01 (75) 7.34 (65) 15.72 (78) 64.8 (108) 859 (89) 2,844 (157) 30.2 (53) The district in comparison 10318 263 9.80 (117) 7.31 (66) 12.50 (142) 71.5 (37) 862 (87) 3,483 (61) 24.8 (105) Where is the district positioned in the urban fabric? 10319 121 8.49 (162) 5.93 (166) 11.10 (169) 61.0 (146) 656 (171) 2,950 (142) 22.2 (141) 649 10365 201 9.71 (122) 6.23 (153) 12.42 (144) 58.0 (169) 694 (158) 2,833 (159) 24.5 (110) 2017 natural net 10367 152 10.00 (104) 7.39 (56) 12.35 (147) 54.0 (184) 661 (168) 2,827 (161) 23.4 (124) population balance

10369 93 9.51 (131) 6.73 (110) 15.02 (87) 56.8 (172) 669 (165) 3,335 (76) 20.1 (168)

13051 73 8.83 (154) 5.85 (173) 11.86 (159) 47.5 (186) 527 (184) 3,341 (75) 15.8 (186) 23.1 12.0 9.64 % 2018 housing % 2008 – 2017 con- € /m2 2018 (Q1 – Q3) 13053 78 8.84 (153) 6.01 (160) 12.34 (148) 69.4 (51) 770 (131) 3,700 (38) 20.8 (160) cost ratio struction completions asking rent 13055 283 9.86 (114) 6.50 (134) 13.71 (121) 66.3 (84) 804 (111) 3,486 (59) 23.0 (127)

13057 113 7.80 (173) 5.65 (178) 11.59 (162) 67.6 (66) 680 (160) 3,043 (121) 22.3 (138)

13059 93 6.61 (183) 5.24 (185) 12.00 (155) 59.7 (159) 529 (183) 3,188 (98) 16.6 (185) 35.2 Share of average housing costs Of all completions in Berlin, Asking rent (median) in comparison District 2,236 9.64 6.20 14.00 61.1 728 3,156 23.1 Living space per (basis: asking rent) of the average share of completed apartments with the maximum value of the districts inhabitant in m2 household purchasing power in new residential buildings (Friedrichsh.-Kreuzb., €12.99/m²) Berlin 40,154 10.34 6.46 17.13 65.0 833 3,258 25.6

(1) Median (2) Includes operating costs: 2.26 €/m² (eastern Berlin), 2.73 €/m² (western Berlin) and 2.50 €/m² (all of Berlin) (3) Rent (incl. utilities) as percent of household purchasing power () Rank among the 186 postcodes with rental data Source: CBRE based on data from empirica-systeme GmbH, BBU (operating costs), Michael Bauer Research; compiled by CBRE The residential real estate market in 19.7 the Lichtenberg district has experienced Share of population aged 65 and older in % a strong upswing in this decade.

New construction in the district Two current project developments in detail The district unites apparent contrasts – Wartenberger Strasse Parkstadt Karlshorst

close to the city centre and yet leafy, Developer: Ten Brinke Developer: Bonava Area: Alt-Hohenschönhausen Area: Karlshorst reasonably priced and well-maintained. Street: Wartenberger Strasse Street: Blockdammweg Residential Units: 264 Residential Units: 512 There are a wide variety of neighbourhood Type of use: rent Type of use: condominium Rent €/m2: n/a Sale prices €/m2: e.g. 3,100 – 4,930 types, ranging from Wilhelminian to villa style to an area of prefabricated housing.

40 41 Marzahn-Hellersdorf Districts Housing Market Report Berlin 2019

Basic rent for apartments in apartment buildings in € / m2 / month

13.00 and above 12.00 to 12.99 11.00 to 11.99 10.00 to 10.99 9.00 to 9.99 8.00 to 8.99 7.00 to 7.99 to 6.99 Insufficient number of cases

Marzahn- Hellersdorf

The district on the eastern outskirts has also benefited from Berlin’s economic boom: building plots and apartments are in high demand; the quality of the infrastructure and the environment is improving.

Marzahn-Hellersdorf is known across Germany Attractive green areas, for example at the Wuhle 27.1 above all for its extensive residential quarters river, are characteristic of some of the large hou- Green space per constructed in the 1970s and 1980s. With their sing estates. Nearby at Kienberg, the 2017 Inter- inhabitant in m2 prefabricated buildings, the apparently homoge- national Garden Exhibition took place, creating neous quarters have long since undergone a dif- a beautiful recreation area in the heart of the 1 2 3 ferentiated development. district. At that time, a cable car was built which 2 Sites with relatively good connections to the ascends the over 100-metre-high elevation. It may Galleries per Marzahner Promenade Adele-Sandrock-Strasse Alt-Biesdorf city centre and good local infrastructure are most be permanently integrated into the city's public 100,000 inhabitants For many Berliners, the promenade is the Adele-Sandrock-Strasse, named after the With its 14-hectare park, the late classicist in demand. Marzahn’s municipal centre located transport system. centre of this neighbourhood. The impressive silent film actress, is characterised by plenty Schloss Biesdorf palace in Alt-Biesdorf, in the south-west of the district, near Springpfuhl About 15 years ago, the vacancy rate in the in- prefabricated buildings running parallel to of leafy areas. The beautiful inner courtyards built in 1868 by Hans Hermann Freiherr von 1,333 Landsberger Allee have been upgraded in re- of the scattered buildings and the renovated Rüxleben, is especially popular. The church railway station on Helene-Weigel-Platz, has bene- dustrially built quarters was high; there were even Ø distance to the next cent years. The futuristic Eastgate Mall enthrals prefabricated buildings invite visitors to and farmsteads of the former manor are also fited the most from this. So has “Helle Mitte”, in individual demolitions and renaturation. In the “Spaeti” convenience visitors and on the 70-metre high “degewo- linger. For those who wish to have a break very beautiful. Inaugurated in 1898, the the Hellersdorf district, where even a university meantime, people from other parts of the city are store in metres Skywalk” Berliners can enjoy a breath-taking and take a stroll, there is a suitable park at cemetery was a gift from the family of Wilhelm is located. As reflected in the demand, however, also moving into the apartments, whose rents are view over Berlin. Hellersdorfer Graben. von Siemens. this location is much more decentralised than still among the lowest in Berlin. Former demoli- that in Marzahn. tion sites are now locations for new construction ▶ Source: CBRE based on data from empirica-systeme GmbH © Cartography: Nexiga, 2006–2014 Tom Tom

42 43 Marzahn-Hellersdorf Districts Housing Market Report Berlin 2019

projects. The growing demand is also leading to an houses here, while high-rise buildings are the ex- Rent and housing costs improvement of the district’s sometimes one-si- ception. In some cases, these have only been built The district in small-scale analysis ded, in extreme cases even difficult social structure. in the last 25 years – both in newly developed build- However, Marzahn-Hellersdorf does not only ing areas and as densification in already existing consist of prefabricated buildings from the late neighbourhoods. Many plots of land used to be oc- Housing market data Housing cost 4,073 GDR period. The extensive housing estates of Bies- cupied by allotments, very small old homes or even 2012 – 2017 dorf, Kaulsdorf and Mahlsdorf are smaller in terms sometimes no houses at all. On the housing estates, Postcode Number Basic rent Basic rent in Basic rent in Apartment Total Household Housing housing increase of population, but larger in terms of surface areas. multi-storey buildings have partially been erected, of rental in all market bottom market top market size1, avg. housing purchasing cost ratio3 There are mainly detached and semi-detached especially near the S-Bahn and U-Bahn stations. ■ offers segments1 segment1 segment1 in m² cost2, avg. power, avg. in % in € / m2 / month in € / m2 / month in € / m2 / month in € / month in € / month

12619 187 6.32 (186) 5.19 (186) 9.00 (184) 61.1 (145) 524 (185) 2,937 (146) 17.8 (182) 12621 85 9.93 (109) 7.58 (43) 14.02 (110) 73.5 (30) 896 (75) 4,283 (14) 20.9 (157) The district in comparison 12623 155 9.03 (142) 6.89 (104) 12.05 (150) 70.8 (43) 799 (117) 4,318 (13) 18.5 (180) Where is the district positioned in the urban fabric? 12627 488 7.79 (174) 5.90 (171) 12.02 (152) 62.5 (130) 628 (177) 2,928 (149) 21.5 (149) 101 12629 156 7.48 (178) 5.60 (180) 10.52 (176) 64.7 (109) 630 (176) 3,015 (128) 20.9 (157) 2017 natural net 12679 263 7.24 (180) 5.56 (181) 10.00 (180) 55.1 (178) 524 (185) 2,968 (140) 17.6 (183) population balance

12681 160 7.75 (175) 5.78 (176) 10.49 (178) 54.9 (182) 550 (182) 3,302 (82) 16.7 (184)

12683 252 9.90 (110) 6.17 (156) 12.51 (140) 68.8 (59) 837 (93) 4,049 (21) 20.7 (162) 18.9 8.4 7.73 % 2018 housing % 2008 – 2017 con- € /m2 2018 (Q1 – Q3) 12685 155 7.57 (177) 5.62 (179) 10.51 (177) 62.7 (129) 616 (178) 3,398 (72) 18.1 (181) cost ratio struction completions asking rent 12687 131 7.30 (179) 5.50 (182) 10.00 (180) 68.8 (60) 658 (169) 3,270 (89) 20.1 (167)

12689 193 6.87 (182) 5.50 (182) 8.81 (186) 65.6 (95) 599 (180) 3,004 (132) 19.9 (171)

District 2,225 7.73 5.56 11.47 64.0 639 3,383 18.9 36.6 Share of average housing costs Of all completions in Berlin, Asking rent (median) in comparison Berlin 40,154 10.34 6.46 17.13 65.0 833 3,258 25.6 Living space per (basis: asking rent) of the average share of completed apartments with the maximum value of the districts inhabitant in m2 household purchasing power in new residential buildings (Friedrichsh.-Kreuzb., €12.99/m²) (1) Median (2) Includes operating costs: 2.26 €/m² (eastern Berlin), 2.73 €/m² (western Berlin) and 2.50 €/m² (all of Berlin) (3) Rent (incl. utilities) as percent of household purchasing power () Rank among the 186 postcodes with rental data Source: CBRE based on data from empirica-systeme GmbH, BBU (operating costs), Michael Bauer Research; compiled by CBRE The apartments in the district are often 19.4 still inexpensive – especially in relation to Share of population aged 65 and older in % the average household purchasing power.

New construction in the district Two current project developments in detail Marzahn-Hellersdorf is a multi-faceted Louis-Lewin- Lion-Feuchtwanger- district often hidden behind the prominent Strasse Strasse Developer: STADT UND LAND Developer: GESOBAU backdrop of prefabricated buildings. You Area: Hellersdorf Area: Hellersdorf Street: Louis-Lewin-Strasse Street: Lion-Feuchtwanger-Strasse will also find extensive areas of single-family Residential Units: 308 Residential Units: 334 Type of use: rent Type of use: rent houses, modern neighbourhood centres Rent €/m2: n/a Rent €/m2: n/a

© Arnold und Gladisch Architekten and historic village greens. © Kondor Wessels und DMSW Architekten

44 45 Mitte Districts Housing Market Report Berlin 2019

Basic rent for apartments in apartment buildings in € / m2 / month

13.00 and above 12.00 to 12.99 11.00 to 11.99 10.00 to 10.99 9.00 to 9.99 8.00 to 8.99 7.00 to 7.99 to 6.99 Insufficient number of cases

Mitte Top locations in the city centre are more sought-after than ever. De- velopment in northern and north-western peripheral locations stag- nated for a long time, but have now been affected by high demand. The district of Mitte is historically and structural- division of available housing. The first part con- 14.3 ly divided into three parts: its historical centre is sists of old buildings, such as in the north of the Green space per located in the south-east. The Tiergarten district, historic centre between Hackescher Markt and inhabitant in m2 with the park of the same name, and Hauptbahn- Bernauer Strasse. There are premium offers here hof central station are situated in the west and with plenty of flair, but also courtyard apartments are becoming increasingly part of the city centre. of secondary quality and price level. The second 26 Wedding, to the north of the district, was for the segment consists of apartments from the GDR Galleries per longest time a refuge for inexpensive housing, era. They often contain economical but well-plan- 100,000 inhabitants but here, too, the strong rise in demand for in- ned floor plans, sometimes have an austere archi- 1 2 3 ner-city peripheral locations has become clearly tecture and house many tenants who have been 248 noticeable. living here for years or decades on still-favoura- Wilhelmstrasse Gesundbrunnen Elberfelder Strasse Ø distance to the next With a few exceptions, the gaps in the historic ble rental contracts. The third segment consists The “Topography of Terror” Documentation Gesundbrunnen is often only perceived as a Elberfelder Strasse is the Westfälisches “Spaeti” convenience Center at the former headquarters of the secret railway station with an adjacent shopping Viertel neighbourhood’s unofficial high centre have now been filled. The central location, of new constructions built since the 1990s, which, store in metres the first-class infrastructure and the cultural in- according to the level of appropriate comfort, are police of Nazi Germany (Gestapo) clearly illus- centre and a social flashpoint. The affordable street. The traffic-reduced street with its trates that the area around Wilhelmstrasse was living space and the increasingly hip Wedding beautiful galleries, shops and restaurants stitutions and shopping facilities within walking offered at Berlin’s highest prices. the centre of power in the Nazi era. Numerous area attract artists, students and young people. radiates an almost rural atmosphere. Su- distance are so much in demand that negative Dominated by old and post-war buildings, the monumental buildings, such as the Federal Today, the hipsters in the lively neighbourhood rrounded by an old stock of trees, the inter- factors hardly play a role in affecting it, such as offers in Moabit and Wedding are more homoge- Ministry of Finance, survived the allied air raids wear “Wedding 65” sweaters like young wanna- section at Dortmunder Strasse appears increasing density and traffic congestion. neous. In the period after reunification, there of World War II. be gangsters. like a small village square. One good thing about the mix of household were far fewer large-scale projects in this part and social structure is the virtually three-way of the district than in other areas of Mitte. The ▶ Source: CBRE based on data from empirica-systeme GmbH © Cartography: Nexiga, 2006–2014 Tom Tom

46 47 Mitte Districts Housing Market Report Berlin 2019

Europacity, located north of Hauptbahnhof cen- spaces. Tiergarten South is an area with its own Rent and housing costs tral station, however, is actually one of Berlin’s character and a range of offers. These include the The district in small-scale analysis most important contemporary construction buildings on Potsdamer Platz, and the diplomatic projects. It will include various types of use after and government quarter south of the park, with completion, such as office, hotel and residential little but mostly high-quality housing. ■ Housing market data Housing cost 8,124 2012 – 2017 Postcode Number Basic rent Basic rent in Basic rent in Apartment Total Household Housing housing increase of rental in all market bottom market top market size1, avg. housing purchasing cost ratio3 offers segments1 segment1 segment1 in m² cost2, avg. power, avg. in % in € / m2 / month in € / m2 / month in € / m2 / month in € / month in € / month

10115 561 14.75 (7) 8.33 (12) 21.50 (8) 75.0 (25) 1,276 (9) 3,171 (100) 40.2 (3) 10117 505 15.93 (1) 7.89 (30) 22.34 (2) 85.0 (6) 1,546 (2) 3,987 (23) 38.8 (6) The district in comparison 10119 278 14.49 (8) 8.52 (9) 22.37 (1) 69.0 (57) 1,155 (17) 2,994 (136) 38.6 (7) Where is the district positioned in the urban fabric? 10178 228 15.00 (5) 9.28 (1) 21.15 (9) 80.0 (16) 1,381 (5) 3,222 (93) 42.9 (2) 1,703 10179 273 15.48 (3) 8.13 (21) 20.88 (10) 72.7 (33) 1,290 (8) 3,250 (90) 39.7 (4) 2017 natural net 10551 228 11.10 (69) 7.60 (40) 18.72 (30) 59.1 (162) 816 (103) 2,833 (158) 28.8 (69) population balance

10553 208 11.52 (59) 7.15 (77) 16.67 (61) 54.9 (183) 782 (127) 2,682 (176) 29.1 (64)

10555 220 12.07 (44) 6.57 (126) 18.08 (39) 65.5 (97) 970 (54) 2,828 (160) 34.3 (22) 34.3 12.8 12.50 % 2018 housing % 2008 – 2017 con- € /m2 2018 (Q1 – Q3) 10557 358 15.00 (5) 7.18 (75) 19.12 (21) 68.5 (61) 1,214 (13) 3,207 (95) 37.9 (9) cost ratio struction completions asking rent 10559 234 11.01 (76) 7.45 (51) 15.25 (85) 64.7 (109) 889 (81) 2,847 (156) 31.2 (44)

10785 269 15.73 (2) 7.25 (70) 18.56 (31) 88.9 (5) 1,642 (1) 3,465 (64) 47.4 (1)

10787 88 11.57 (58) 7.27 (68) 19.84 (15) 69.3 (52) 990 (46) 3,775 (35) 26.2 (93) 35.0 Share of average housing costs Of all completions in Berlin, Asking rent (median) in comparison 13347 330 11.00 (77) 6.26 (151) 17.00 (56) 60.0 (154) 824 (98) 2,662 (177) 30.9 (46) Living space per (basis: asking rent) of the average share of completed apartments with the maximum value of the districts inhabitant in m2 household purchasing power in new residential buildings (Friedrichsh.-Kreuzb., €12.99/m²) 13349 138 10.18 (99) 6.97 (97) 15.32 (84) 59.0 (166) 761 (136) 2,653 (180) 28.7 (71)

13351 185 10.82 (82) 7.00 (93) 14.80 (93) 59.1 (163) 800 (114) 2,656 (179) 30.1 (54)

13353 397 10.82 (82) 7.39 (56) 15.09 (86) 59.0 (164) 799 (116) 2,585 (189) 30.9 (46) 13355 157 11.75 (51) 6.00 (161) 17.33 (53) 66.8 (78) 968 (55) 2,657 (178) 36.4 (15) Numerous apartments are still owned 13357 328 10.68 (86) 6.54 (129) 16.01 (75) 60.0 (154) 805 (110) 2,762 (168) 29.1 (64) 13359 350 10.41 (93) 6.39 (142) 14.48 (99) 61.7 (138) 810 (105) 2,460 (190) 32.9 (29) 12.9 by municipal housing companies in all District 5,335 12.50 7.00 20.00 66.5 997 2,906 34.3 Share of population aged 65 and older in % three parts of the Mitte district. Berlin 40,154 10.34 6.46 17.13 65.0 833 3,258 25.6

(1) Median (2) Includes operating costs: 2.26 €/m² (eastern Berlin), 2.73 €/m² (western Berlin) and 2.50 €/m² (all of Berlin) (3) Rent (incl. utilities) as percent of household purchasing power () Rank among the 186 postcodes with rental data Source: CBRE based on data from empirica-systeme GmbH, BBU (operating costs), Michael Bauer Research; compiled by CBRE New construction in the district Two current project developments in detail

Beusselstrasse The One

Fulfilling a wide range of needs, Berlin’s Developer: Ten Brinke Developer: BUWOG Area: Moabit Area: Moabit historical centre is regaining its former Street: Beusselstrasse Street: Heidestrasse Residential Units: 130 Residential Units: 231 significance. It is once again a bustling hub Type of use: rent Type of use: condominium Rent €/m2: n/a Prices €/m2: e.g. 6,280 – 8,440 for everyone, with luxurious but also modest living spaces.

48 49 Neukölln Districts Housing Market Report Berlin 2019

Basic rent for apartments in apartment buildings in € / m2 / month

13.00 and above 12.00 to 12.99 11.00 to 11.99 10.00 to 10.99 9.00 to 9.99 8.00 to 8.99 7.00 to 7.99 to 6.99 Insufficient number of cases

Neukölln This divers district stretches from the trendy urban neighbourhood to the city’s southern edge. Despite significant increases in prices and rents, there are relatively inexpensive apartments to be had here.

The northern part of Neukölln is characterised has changed: with the ban on housing construc- 11.4 by densely built-up blocks of old buildings. The tion on the former airport site, the neighbour- Green space per streets and courtyards are often narrow, and the hood has turned into an attractive and exclusive inhabitant in m2 apartments correspondingly gloomy. This part of location. Prices and rents have risen accordingly. Neukölln has never been and will no doubt never This happened already many years ago in the far be a bourgeois neighbourhood. For a long time, it north at the Landwehr Canal. 5 was a German-dominated working-class neigh- In other parts of Neukölln North, develop- Galleries per bourhood, subsequently dominated by inhabi- ment has not been so dynamic. But the housing 100,000 inhabitants tants of Turkish and Arabic descent. In recent shortage and a rise in prices throughout Ber- 1 2 3 years, however, it has become younger and even lin also characterises the markets around the 1,048 more international: students, creative people three main axes at Hermannstrasse, Karl-Marx- Schillerpromenade Buschkrugallee Nord Alt-Rudow Ø distance to the next and ‘Berliners by choice’ come here from all over Strasse and Sonnenallee, as well as in the far The historic ‘Schillerkiez’ neighbourhood has Karl-Marx-Strasse becomes Buschkrugallee The area of Rudow has a long history. It was “Spaeti” convenience slowly but surely developed into one of the at the junction with Grenzallee, enabling first officially mentioned in 1373. The old the world – for whom the district of Kreuzberg to east at the Neukölln Ship Canal with its large store in metres the north has become too expensive. commercial estates. most popular neighbourhoods. The former residents to swap a hectic multicultural life- village church, built as early as around 1375, magnificent boulevard has awoken from its style for a pleasant quiet time at the cemetery is particularly beautiful. Due to Rudow's for- Some neighbourhoods have changed. For It's a little quieter in Britz, which is already slumber due to the closure of Tempelhof Air- as well as in the “Park am Buschkrug”. This mer peripheral location in the southern part example, the area around Weserstrasse, once beyond the S-Bahn ring. The Teltow Canal and port. The neighbourhood enthrals people park, formerly used as a burial ground and a of the city of Berlin, many attractive single- dominated by vacancy misery, has become a the area to its south are dominated by leafy resi- with its unusual cafés, hip bars and renovated deposit for war debris, was extensively re- family houses and bungalows were built here trendy and vibrant area that is already too loud dential areas from between the 1920s and1960s. old buildings. designed between 2007 and 2011. after the Second World War. for some. The so-called Schillerkiez, not far from The best known of these is Hufeisensiedlung, Tempelhofer Feld, is another place where much a neighbourhood with World Heritage status ▶ Source: CBRE based on data from empirica-systeme GmbH © Cartography: Nexiga, 2006–2014 Tom Tom

50 51 Neukölln Districts Housing Market Report Berlin 2019

typically populated fans of architecture and de- an inexpensive and well-maintained leafy area. Rent and housing costs sign. Gropiusstadt is located in the triangle be- Buckow and Rudow are otherwise characte- The district in small-scale analysis tween Britz and the outskirts of Buckow and rised by owner-occupied homes and predomi- Rudow. At times, the large social housing estate nantly low-storey buildings. Despite of their there, dating from around 1970, has had a bad proximity to the airport, there is likely to be no Housing market data Housing cost 1,671 reputation. Today, it is not a neighbourhood increase in noise pollution resulting from the 2012 – 2017 with typically high purchasing power, but it is flight routes. ■ Postcode Number Basic rent Basic rent in Basic rent in Apartment Total Household Housing housing increase of rental in all market bottom market top market size1, avg. housing purchasing cost ratio3 offers segments1 segment1 segment1 in m² cost2, avg. power, avg. in % in € / m2 / month in € / m2 / month in € / m2 / month in € / month in € / month

12043 140 12.51 (33) 7.50 (47) 16.18 (69) 66.4 (83) 1,012 (40) 2,700 (175) 37.5 (11) 12045 139 12.48 (34) 6.84 (106) 17.35 (52) 61.6 (139) 937 (63) 2,653 (181) 35.3 (19) The district in comparison 12047 128 13.07 (16) 7.08 (82) 17.58 (46) 62.0 (135) 980 (50) 2,647 (182) 37.0 (12) Where is the district positioned in the urban fabric? 12049 274 12.12 (42) 7.17 (76) 19.00 (25) 55.0 (179) 816 (102) 2,636 (183) 31.0 (45) 785 12051 300 11.62 (56) 6.65 (118) 17.03 (55) 55.0 (179) 789 (125) 2,630 (185) 30.0 (55) 2017 natural net 12053 122 12.53 (31) 6.29 (149) 19.01 (24) 60.0 (154) 916 (69) 2,711 (174) 33.8 (24) population balance

12055 148 12.01 (45) 7.50 (47) 17.67 (44) 58.4 (168) 860 (88) 2,746 (169) 31.3 (41)

12057 121 9.15 (141) 6.60 (121) 10.54 (175) 60.2 (152) 716 (150) 2,633 (184) 27.2 (85) 26.1 3.0 10.09 % 2018 housing % 2008 – 2017 con- € /m2 2018 (Q1 – Q3) 12059 193 11.31 (64) 7.50 (47) 16.67 (61) 61.0 (146) 856 (91) 2,615 (187) 32.7 (30) cost ratio struction completions asking rent 12347 288 10.34 (94) 6.27 (150) 13.99 (116) 64.0 (115) 836 (94) 3,083 (113) 27.1 (86)

12349 160 9.00 (145) 6.60 (123) 10.78 (174) 63.7 (121) 747 (144) 3,461 (65) 21.6 (147)

12351 109 8.02 (169) 6.00 (161) 12.77 (138) 71.0 (41) 763 (132) 3,304 (80) 23.1 (126) 34.6 Share of average housing costs Of all completions in Berlin, Asking rent (median) in comparison 12353 251 8.00 (171) 5.87 (172) 11.11 (168) 66.4 (82) 713 (151) 3,272 (88) 21.8 (145) Living space per (basis: asking rent) of the average share of completed apartments with the maximum value of the districts inhabitant in m2 household purchasing power in new residential buildings (Friedrichsh.-Kreuzb., €12.99/m²) 12355 154 8.17 (167) 6.02 (159) 10.99 (172) 67.3 (72) 733 (148) 3,697 (39) 19.8 (172)

12357 58 9.65 (125) 7.15 (77) 14.29 (101) 61.3 (142) 758 (138) 4,083 (18) 18.6 (179)

12359 206 8.70 (156) 6.48 (138) 11.46 (166) 58.6 (167) 670 (164) 2,915 (150) 23.0 (130) District 2,791 10.09 6.46 16.12 61.0 782 2,995 26.1 The leafier neighbourhoods with extensive Berlin 40,154 10.34 6.46 17.13 65.0 833 3,258 25.6

(1) Median (2) Includes operating costs: 2.26 €/m² (eastern Berlin), 2.73 €/m² (western Berlin) and 2.50 €/m² (all of Berlin) (3) Rent (incl. utilities) as percent 17.6 residential areas, begin south of the of household purchasing power () Rank among the 186 postcodes with rental data Source: CBRE based on data from empirica-systeme GmbH, BBU (operating Share of population costs), Michael Bauer Research; compiled by CBRE aged 65 and older in % motorway, even for people on a budget.

New construction in the district Two current project developments in detail With amenities such as the Saalbau Neumarien Briesestrasse

(Neukölln Opera House), the Heimathafen Developer: BUWOG Developer: STADT UND LAND Area: Neukölln Area: Neukölln and cultural events at “Böhmisch-Rixdorf”, Street: Mariendorfer Weg Street: Briesestrasse Residential Units: 801 Residential Units: 101 the district is also a lively cultural location. Type of use: rent/condominium Type of use: rent Rent-/ Sale prices €/m2: n/a Sale prices €/m2: n/a The buzzing north is characterised by party

people, students and young tourists. © EM2N

52 53 Pankow Districts Housing Market Report Berlin 2019

Basic rent for apartments in apartment buildings in € / m2 / month

13.00 and above 12.00 to 12.99 11.00 to 11.99 10.00 to 10.99 9.00 to 9.99 8.00 to 8.99 7.00 to 7.99 to 6.99 Insufficient number of cases

Pankow

The district begins just behind Alexanderplatz and comprises resi- dential and recreational areas of all kinds. There is a lot of potential for new construction, but also sometimes resistance against it.

Stretching from Berlin’s city centre to behind lace. Both areas still suffer today under the ap- 16.0 the S-Bahn ring, Prenzlauer Berg comprises the proach routes to Tegel Airport; many residents Green space per north-eastern part of the city centre. With its hope that the opening of the BER Airport in a 2 inhabitant in m restored old building facades, attractive apart- few years’ time will relieve them of noise and ments and colourful street life, the southern emissions. The scene of some new construc- part of the district is today one of the city’s most tion projects on smaller brownfields and as gap 4 expensive areas. With varying professional and closures, the quarters of Niederschönhausen, Galleries per social status, not only wealthy people live here, Wilhelmsruh and Rosenthal have a more sub- 100,000 inhabitants but also young and artistically creative people urban character. 1 2 3 as well as “completely normal Berliners”. There The same phenomenon can be observed in 1,167 are still some inexpensive apartments, which Weißensee, whose centre is much closer located Niederschönhausen Buschallee Kollwitzkiez Ø distance to the next partly have some drawbacks in quality when to the city centre. Above all, the west of this dis- The barock Schönhausen Palace is Nieder- The residential units in and around Busch- This neighbourhood must have the city’s “Spaeti” convenience schönhausen’s highlight. The cityscape is char- allee and Trierer Strasse were designed by highest density of latte macchiato cafés. Par- it comes to facilities and location. The further trict, around Roelckestrasse and Langhansstras- store in metres north you go, the greater the proportion of buil- se, is characterised by a mix of residential and acterised by old and partly well renovated Bruno Taut in reaction to the Great Depres- ticularly the large number of still well-pre- villas and apartment buildings, which survived sion. Its residents were able to plant fruits served stucco facades from the Wilhelminian dings built during the interwar period or after commercial properties and offers numerous po- both world wars well. The top officials of the and vegetables or even keep small livestock era invite visitors to linger. Everyone will find Second World War, even though urbanity is de- tentials for densification at a later stage. The most East German government used to live here, and in the gardens. Karl Schmidt-Rottluff’s ex- their own personal hotspot at the listed Kul- clining here. The urban area of the same name, charming quarters are located near Weißensee citizens were not allowed to enter this part pressionist colour scheme enhances the turbrauerei buildings, Pfefferberg, Senefelder- Pankow, which borders to the north, is a strong- Lake, which the district was named after. of Berlin at that time. buildings. platz and Kollwitzplatz. ly mixed quarter. Its most renowned addresses All other parts of the district – and with them are close to Bürgerpark and Schönhausen Pa- about half of its surface area – have a suburban ▶ Source: CBRE based on data from empirica-systeme GmbH © Cartography: Nexiga, 2006–2014 Tom Tom

54 55 Pankow Districts Housing Market Report Berlin 2019

or even rural character. There are still some vil- the plans of two municipal housing associations Rent and housing costs lage building structures in Karow, Blankenburg for around 5,000 apartments were already well The district in small-scale analysis and, above all, Blankenfelde. Theoretically, the advanced. The Blankenburg South project is still areas for new construction are large, but they in the planning stage, but as more apartments are partly blocked by protests and politics. This could be built there than in the Elisabethaue, it is Housing market data Housing cost 8,508 applies, for example, to the Elisabethaue where also controversial. ■ 2012 – 2017 Postcode Number Basic rent Basic rent in Basic rent in Apartment Total Household Housing housing increase of rental in all market bottom market top market size1, avg. housing purchasing cost ratio3 offers segments1 segment1 segment1 in m² cost2, avg. power, avg. in % in € / m2 / month in € / m2 / month in € / m2 / month in € / month in € / month

10405 466 13.12 (14) 6.00 (161) 19.85 (14) 69.6 (49) 1,071 (32) 3,394 (73) 31.5 (39) 10407 308 11.72 (53) 5.99 (165) 19.38 (20) 60.3 (150) 843 (92) 2,997 (134) 28.1 (77) The district in comparison 10409 244 11.03 (74) 6.26 (151) 15.34 (83) 56.4 (173) 750 (143) 2,741 (171) 27.3 (84) Where is the district positioned in the urban fabric? 10435 252 14.28 (9) 7.64 (39) 20.52 (11) 75.0 (25) 1,241 (11) 3,282 (85) 37.8 (10) 1,865 10437 493 13.00 (17) 8.20 (18) 18.40 (33) 65.0 (103) 992 (45) 3,005 (131) 33.0 (28) 2017 natural net 10439 495 12.44 (35) 8.02 (25) 18.39 (34) 61.4 (141) 903 (73) 2,806 (165) 32.2 (34) population balance

13086 448 10.48 (92) 6.90 (102) 14.89 (91) 60.7 (148) 773 (130) 3,001 (133) 25.8 (98)

13088 307 9.78 (119) 5.92 (168) 14.02 (110) 66.0 (85) 795 (119) 3,113 (109) 25.5 (99) 26.9 18.2 10.97 % 2018 housing % 2008 – 2017 con- € /m2 2018 (Q1 – Q3) 13089 56 8.97 (151) 7.37 (62) 14.50 (97) 66.0 (85) 741 (147) 3,640 (47) 20.4 (164) cost ratio struction completions asking rent 13125 345 8.41 (164) 6.41 (141) 11.33 (167) 66.8 (79) 713 (152) 3,642 (46) 19.6 (175)

13127 220 9.59 (129) 7.10 (81) 12.09 (149) 66.5 (81) 788 (126) 3,694 (40) 21.3 (152)

13129 13 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 3,916 (29) n/a n/a 39.1 Share of average housing costs Of all completions in Berlin, Asking rent (median) in comparison 13156 408 10.15 (102) 7.27 (68) 12.97 (135) 65.0 (103) 806 (109) 3,572 (53) 22.6 (136) Living space per (basis: asking rent) of the average share of completed apartments with the maximum value of the districts inhabitant in m2 household purchasing power in new residential buildings (Friedrichsh.-Kreuzb., €12.99/m²) 13158 209 10.12 (103) 7.95 (29) 12.51 (140) 72.0 (36) 891 (79) 3,618 (50) 24.6 (109)

13159 2 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 3,288 (84) n/a n/a

13187 411 10.90 (81) 7.01 (91) 14.99 (90) 69.0 (58) 908 (71) 2,980 (138) 30.5 (51) 13189 309 10.30 (97) 6.58 (124) 16.04 (74) 63.2 (123) 793 (121) 2,744 (170) 28.9 (68) Prenzlauer Berg is expensive District 4,986 10.97 6.66 17.57 64.8 857 3,184 26.9 Berlin 40,154 10.34 6.46 17.13 65.0 833 3,258 25.6 14.9 and diverse. There are also cheaper (1) Median (2) Includes operating costs: 2.26 €/m² (eastern Berlin), 2.73 €/m² (western Berlin) and 2.50 €/m² (all of Berlin) (3) Rent (incl. utilities) as percent Share of population of household purchasing power () Rank among the 186 postcodes with rental data Source: CBRE based on data from empirica-systeme GmbH, BBU (operating aged 65 and older in % neighbourhoods in the north. costs), Michael Bauer Research; compiled by CBRE

New construction in the district Two current project developments in detail The district has immense construction Nesselweg Kastanienallee 105

potential on undeveloped land or in densely Developer: Ten Brinke Developer: GESOBAU Area: Rosenthal Area: Rosenthal populated areas, and infrastructure of all Street: Nesselweg Street: Kastanienallee Residential Units: 79 Residential Units: 48 kinds is in great demand. Discussions and Type of use: rent Type of use: rent Rent €/m2: n/a Rent €/m2: n/a decision-making, therefore, are often

© Anne Lampen greatly needed. Architekten GmbH

56 57 Reinickendorf Districts Housing Market Report Berlin 2019

Basic rent for apartments in apartment buildings in € / m2 / month

13.00 and above 12.00 to 12.99 11.00 to 11.99 10.00 to 10.99 9.00 to 9.99 8.00 to 8.99 7.00 to 7.99 to 6.99 Insufficient number of cases

Reinickendorf

Leafy suburban locations in the northwest of Berlin are more in demand than the neighbourhoods close to the local centre near Tegel Airport; however, conditions may change when it closes.

The villas and single-family houses in the north dorf’s northeast. They struggled for many years 18.0 and west of Reinickendorf are far away from the with a bad reputation and high vacancy rates. Green space per city centre, but particularly sought-after. The However, due to the strong demand in Berlin’s inhabitant in m2 Frohnau garden city, which was planned over rental apartment market, it is a different case one hundred years ago as an especially cosy sub- today. Especially in Märkisches Viertel, where urb for citizens tired of the inner-city and which the majority of the apartments belong to the 2 still serves as such today, is best known for this. state-owned GESOBAU housing association, Galleries per The areas of Hermsdorf and Waidmannslust, only a few apartments are still offered public- 100,000 inhabitants which border to the south, may have less luxu- ly citywide; most of them find new tenants 1 2 3 rious villas, but they are very attractive locations through direct contacts, waiting lists or local 1,205 at the extensive meadows along the “Tegeler marketing. Letteplatz Alt-Tegel Märkisches Zentrum Ø distance to the next Fließ” brook. Boasting plenty of water, the urban Rents and prices in the central district areas Many beautiful old buildings from the Wil- Alt-Tegel is full of highlights. With the adjoin- The Märkisches Viertel, located in the eastern “Spaeti” convenience helminian era are still standing around ing park, the palace built by Karl-Friedrich part of Reinickendorf, is one of Germany’s districts of Heiligensee, Konradshöhe and Tegel- of Tegel, Borsigwalde and Wittenau are at a store in metres ort are located in close proximity to the River mid-range level. Tegel has prime locations near Letteplatz, but there are also buildings from Schinkel for Wilhelm von Humboldt in 1824 is largest new housing estates. It was built in the the post-war reconstruction programme and particularly impressive. The shopping mall in 1960s and 1970s to create new living space. Havel but remain the district’s most remote loca- the lake of the same name; otherwise there are the 1960s. The Lettekiez neighbourhood is the Hallen Am Borsigturm is also an architect- With its tall high-rise buildings and approx. tions. All of these neighbourhoods are characteri- predominantly extensive residential areas with growing in popularity, the last vacant lots are ural beauty. The lake terraces and Greenwich 17,000 apartments for almost 50,000 people, sed by single-family houses and the rental mar- public and private infrastructure as well as gradually being filled, and the old buildings promenade at the magnificent Lake Tegeler See it brings a variety of architectural styles to kets are rather small. business spaces. extensively renovated. are popular as well. villagey Reinickendorf. The large housing estates in Märkisches The south of Reinickendorf is likely to recei- Viertel and Rollberge are located in Reinicken- ve a strong boost in development in the next ▶ Source: CBRE based on data from empirica-systeme GmbH © Cartography: Nexiga, 2006–2014 Tom Tom

58 59 Reinickendorf Districts Housing Market Report Berlin 2019

decade if the plans for the complete relocation the east of the airport, some of which is extreme- Rent and housing costs of air traffic are successful. Instead of the exist- ly noisy. There are no very large-scale projects in The district in small-scale analysis ing airport, a high-tech park with a university of the pipeline, but there are numerous areas and applied sciences, a neighbourhood with around buildings that can be used for redensification 5,000 apartments and large recreational areas and as residential locations even though many Housing market data Housing cost 1,941 is planned. There is a large mixed usage area to will be kept for commercial use. ■ 2012 – 2017 Postcode Number Basic rent Basic rent in Basic rent in Apartment Total Household Housing housing increase of rental in all market bottom market top market size1, avg. housing purchasing cost ratio3 offers segments1 segment1 segment1 in m² cost2, avg. power, avg. in % in € / m2 / month in € / m2 / month in € / m2 / month in € / month in € / month

13403 304 9.24 (138) 6.93 (99) 13.73 (120) 59.5 (160) 712 (153) 2,850 (154) 25.0 (104) 13405 65 9.00 (145) 6.50 (134) 13.00 (130) 64.2 (114) 753 (142) 2,996 (135) 25.1 (103) The district in comparison 13407 395 9.19 (139) 6.62 (119) 16.89 (58) 55.8 (177) 665 (167) 2,741 (172) 24.3 (114) Where is the district positioned in the urban fabric? 13409 495 9.36 (137) 6.67 (117) 12.98 (134) 56.0 (176) 677 (163) 2,849 (155) 23.8 (118) -515 13435 92 6.89 (181) 6.38 (143) 8.86 (185) 73.1 (31) 702 (157) 3,279 (86) 21.4 (151) 2017 natural net 13437 125 9.50 (132) 7.05 (84) 13.05 (129) 60.7 (149) 742 (145) 3,127 (106) 23.7 (119) population balance

13439 92 6.50 (184) 6.00 (161) 9.48 (183) 70.5 (44) 651 (173) 3,233 (92) 20.1 (166)

13465 118 10.00 (104) 7.77 (35) 12.01 (154) 80.0 (16) 1,018 (38) 4,805 (3) 21.2 (154) 21.2 3.5 9.11 % 2018 housing % 2008 – 2017 con- € /m2 2018 (Q1 – Q3) 13467 109 10.00 (104) 7.05 (84) 13.46 (124) 80.6 (14) 1,025 (37) 4,481 (10) 22.9 (133) cost ratio struction completions asking rent 13469 168 8.27 (166) 6.37 (146) 12.04 (151) 72.7 (32) 800 (115) 3,673 (43) 21.8 (146)

13503 43 9.87 (113) 6.48 (138) 12.78 (137) 83.0 (7) 1,046 (35) 4,388 (12) 23.8 (116)

13505 26 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a 4,520 (8) n/a n/a 38.5 Share of average housing costs Of all completions in Berlin, Asking rent (median) in comparison 13507 272 9.48 (133) 5.84 (174) 14.84 (92) 62.4 (132) 762 (135) 3,475 (62) 21.9 (144) Living space per (basis: asking rent) of the average share of completed apartments with the maximum value of the districts inhabitant in m2 household purchasing power in new residential buildings (Friedrichsh.-Kreuzb., €12.99/m²) 13509 185 8.75 (155) 6.82 (107) 14.50 (97) 52.8 (185) 606 (179) 3,036 (124) 20.0 (170)

District 2,489 9.11 6.45 13.67 61.0 722 3,403 21.2

Berlin 40,154 10.34 6.46 17.13 65.0 833 3,258 25.6

(1) Median (2) Includes operating costs: 2.26 €/m² (eastern Berlin), 2.73 €/m² (western Berlin) and 2.50 €/m² (all of Berlin) (3) Rent (incl. utilities) as percent of household purchasing power () Rank among the 186 postcodes with rental data Source: CBRE based on data from empirica-systeme GmbH, BBU (operating Some areas with Berlin’s highest costs), Michael Bauer Research; compiled by CBRE 23.7 purchasing power are in the far north and Share of population aged 65 and older in % west of the district of Reinickendorf.

New construction in the district Two current project developments in detail Churches, village greens and historic La Belle Ville fleur de berlin

farmhouses in Reinickendorf bear witness Developer: BUWOG Developer: BPD Area: Tegel Area: Wittenau to its history as a conglomeration of Street: Avenue Jean Mermoz Street: Avenue Charles de Gaulle Residential Units: 95 Residential Units: 241 seperate villages. Bodies of water, such as Type of use: rent Type of use: condominium Rent €/m2: n/a Sale prices €/m2: 3,880 – 5,200 the Tegeler Fliess and the Havel River,

characterise the district in many places. © BPD Immobilienentwicklung GmbH

60 61 Spandau Districts Housing Market Report Berlin 2019

Basic rent for apartments in apartment buildings in € / m2 / month

13.00 and above 12.00 to 12.99 11.00 to 11.99 10.00 to 10.99 9.00 to 9.99 8.00 to 8.99 7.00 to 7.99 to 6.99 Insufficient number of cases

Spandau The general pressure on the housing market means Berlin’s we- sternmost district is increasingly in demand. Fast rail connections partially offset the distance to the city centre.

Spandau is clearly separated from the rest of Ber- in Spandau closest to Berlin’s city centre, has re- 23.9 lin by the wide River Havel and some extensive cently seen a strong increase in demand and rent Green space per commercial and leafy areas. Even 99 years after levels have risen. The planned “Siemensstadt inhabitant in m2 the incorporation of Spandau into Berlin, the 2.0”, in which the Siemens Group plans to build residents have maintained a certain feeling for offices, research facilities and apartments on an independence here. There is a cosy old town; and area of around 70 hectares, is likely to further in- 1 even today, many Spandauers only rarely travel tensify this development. The nearby Gartenfeld Galleries per “to Berlin”, as they refer to it here. quarter is one of the largest planning locations 100,000 inhabitants Connections to the city, especially by rail, are for residential construction in Berlin. 1 2 3 very good. There are U-Bahn, S-Bahn and regio- The area of Spandau around the old town 1,286 nal train stations here. Those who want can reach feels more like a medium-sized town than a Zitadellenweg Isenburger Weg Graetschelsteig Ø distance to the next Berlin’s Central Station three times per hour by metropolis. Despite the difficult transport con- Spandau Citadel is one of the most import- This Siemens housing estate was built in The colourful high-rise buildings on Graet- “Spaeti” convenience ant and best-preserved Renaissance forts in the 1930s. Those who received a plot had to schelsteig, built in the 1960s and up to 22 ICE in only about ten minutes. The three most im- nections, the development project on both sides store in metres portant roads towards Berlin´s city centre, on the of the Havel (called Lake Spandauer See here), Europe. It was built by the Electors between spend three days working at Siemens and storeys high, stand out at first glance. Very 1559 and 1594 to protect their residence city were then allowed to work for three days on conveniently situated on Heerstrasse, resi- other hand, are often congested. which got bogged down in the 1990s, is being of Berlin. Today, the area is used exclusively the construction of the housing estate. With dents here are close to one of the city’s Predominantly, Spandau is not a very pros- revived. In the most recent largest construction for civil and cultural purposes and provides their efficient living space and large gardens, leafiest areas. The “Kombibad Spandau Süd” perous district, but traditionally characterised project, “Pepita-Höfe” in the north-western of Berlin with one of its most beautiful back- the duplex and single-family houses are still swimming facility and amusement park at by industry and commerce. The once dominant Hakenfelde quarter, the majority of the appro- drops for concerts. impressive today. Südpark leave nothing to be desired. military presence is still represented in the Ge- ximately 1,000 apartments have already been neral Steinhoff barracks. Siemensstadt, the area occupied. The Degewo and WBM municipal ▶ Source: CBRE based on data from empirica-systeme GmbH © Cartography: Nexiga, 2006–2014 Tom Tom

62 63 Spandau Districts Housing Market Report Berlin 2019

housing associations dominate the area. Other- Both are surrounded by water, fields and forest Rent and housing costs wise, most of Spandau’s neighbourhoods to the and are defined by single-family houses. For Span- The district in small-scale analysis west of the Havel are built-up or not intended for dau conditions, the rental market is not very large development. and the rent level is high. It can take one hour to The two southern neighbourhoods of Gatow reach the centre of Berlin – by car, bus or ferry to Housing market data Housing cost 1,571 and Kladow form a residential world of their own. Wannsee station and then by train. ■ 2012 – 2017 Postcode Number Basic rent Basic rent in Basic rent in Apartment Total Household Housing housing increase of rental in all market bottom market top market size1, avg. housing purchasing cost ratio3 offers segments1 segment1 segment1 in m² cost2, avg. power, avg. in % in € / m2 / month in € / m2 / month in € / m2 / month in € / month in € / month

13581 204 9.00 (145) 6.22 (154) 13.20 (127) 67.7 (65) 794 (120) 3,159 (104) 25.1 (102) 13583 338 8.15 (168) 5.82 (175) 10.83 (173) 59.9 (157) 652 (172) 2,784 (167) 23.4 (123) The district in comparison 13585 370 8.55 (160) 6.58 (124) 11.63 (161) 63.9 (119) 720 (149) 2,728 (173) 26.4 (91) Where is the district positioned in the urban fabric? 13587 331 9.00 (145) 6.60 (121) 12.00 (155) 67.4 (70) 790 (123) 2,979 (139) 26.5 (89) -58 13589 286 8.01 (170) 5.92 (168) 9.84 (182) 65.9 (91) 708 (154) 3,320 (78) 21.3 (153) 2017 natural net 13591 205 8.50 (161) 6.69 (112) 11.54 (164) 69.2 (54) 777 (129) 3,690 (42) 21.1 (155) population balance

13593 206 6.38 (185) 5.33 (184) 11.00 (171) 69.3 (53) 631 (175) 3,297 (83) 19.1 (177)

13595 334 9.00 (145) 6.46 (140) 12.68 (139) 60.0 (153) 704 (156) 3,167 (102) 22.2 (140) 22.6 3.9 8.51 % 2018 housing % 2008 – 2017 con- € /m2 2018 (Q1 – Q3) 13597 156 9.00 (145) 6.38 (143) 16.47 (64) 64.3 (113) 755 (140) 3,055 (120) 24.7 (106) cost ratio struction completions asking rent 13599 145 7.84 (172) 6.57 (126) 11.03 (170) 56.2 (174) 594 (181) 3,019 (127) 19.7 (173)

13629 145 9.44 (134) 6.51 (133) 11.80 (160) 62.1 (134) 756 (139) 2,627 (186) 28.8 (70)

14089 103 9.70 (123) 7.00 (93) 13.52 (123) 90.0 (3) 1,119 (20) 4,770 (4) 23.5 (122) 36.4 Share of average housing costs Of all completions in Berlin, Asking rent (median) in comparison District 2,823 8.51 5.94 12.00 64.9 729 3,229 22.6 Living space per (basis: asking rent) of the average share of completed apartments with the maximum value of the districts inhabitant in m2 household purchasing power in new residential buildings (Friedrichsh.-Kreuzb., €12.99/m²) Berlin 40,154 10.34 6.46 17.13 65.0 833 3,258 25.6

(1) Median (2) Includes operating costs: 2.26 €/m² (eastern Berlin), 2.73 €/m² (western Berlin) and 2.50 €/m² (all of Berlin) (3) Rent (incl. utilities) as percent of household purchasing power () Rank among the 186 postcodes with rental data Source: CBRE based on data from empirica-systeme GmbH, BBU (operating costs), Michael Bauer Research; compiled by CBRE In Spandau’s northern neighbourhoods, the 22.0 residents are hoping for less noise pollution Share of population aged 65 and older in % following the closure of Tegel Airport.

New construction in the district Two current project developments in detail In many of its neighbourhoods, Spandau HavelPerle Häuser am Golfplatz

feels far away from Berlin. The district Developer: PROJECT Immobilien Developer: Bonava Area: Hakenfelde Area: Kladow cultivates its independence as best it can, Street: Hugo-Cassirer-Strasse Street: Kladower Damm Residential Units: 76 Residential Units: 112 but it is being increasingly considered Type of use: condominium Type of use: condominium Prices €/m2: approx. 3,060 – 6,120 Prices €/m2: e.g. 3,180 – 4,600 by the rest of the metropolis as a place to live, work and relax.

64 65 Steglitz-Zehlendorf Districts Housing Market Report Berlin 2019

Basic rent for apartments in apartment buildings in € / m2 / month

13.00 and above 12.00 to 12.99 11.00 to 11.99 10.00 to 10.99 9.00 to 9.99 8.00 to 8.99 7.00 to 7.99 to 6.99 Insufficient number of cases

Steglitz- Zehlendorf

This district boasts some quarters with magnificent villas, but also middle-class areas and modest post-war apartments. Due to its more decentralised location, rents are often below city level.

Dahlem and Schlachtensee, Nikolassee and Wann- creasing, and rents and prices are falling somew- 19.9 see are among the best addresses for leafy, repre- hat. This applies to the local centres of Zehlendorf, Green space per sentative living in Berlin. The area between Kur- Lichterfelde and inner Steglitz. These, too, are all inhabitant in m2 fürstendamm and Wannsee is considered to be bourgeois quarters – less green, but with better the largest continuous area of villas in Europe. As infrastructure. Teltower Damm in Zehlendorf is 1 2 3 those who live in prosperity here often also own a suburban shopping area; with its five shopping 2 their properties, purchasing power here is con- centres and department stores, the Schlossstrasse Galleries per Munsterdamm Fischerhüttenstrasse Thermometersiedlung sistently high although rent prices do not top the in Steglitz is even one of the city’s most important 100,000 inhabitants Here, Berlin’s first ‘smokeless housing estate’ The beautiful Zinnowwaldsiedlung, a housing The “Thermometersiedlung” is a typical ex- league in Berlin. People on a good income who are consumer locations. There are well-maintained was erected between 1930 and 1934. Its name estate built by a non-profit housing associa- ample of suburban development in West willing to rent are more attracted to the city cen- apartment buildings from the imperial period all comes from the fact that it was connected to a tion, was erected in 1928. There are some Berlin during the 1960s and 1970s. In around 922 district heating plant. The residential complex elements of expressionist construction with 60 charismatic high-rise buildings up to 22 tre, up to 20 kilometres away from the apartments around, newer residential blocks and a number of Ø distance to the next is an excellent example of the New Objectivity a variety of housing styles. The impressive storeys with over 2,200 apartments, living located in this district. For tenants, however, the areas with single-family houses. The city centre is “Spaeti” convenience movement and is now listed. The housing es- classicist town houses blend perfectly into the space for over 4,500 people was created. In- already-mentioned villa neighbourhoods within only about 10 kilometres away. store in metres tate is located close to the Insulaner outdoor landscape around the magnificent Grune- terestingly, the streets there are named after Steglitz-Zehlendorf are also the most expensive. The locations in the Südende neighbourhood, swimming facility and the Zeiss Planetarium. wald chain of lakes. famous physicists. There is greater building density towards the bordering on Tempelhof-Schöneberg, are some- east; the proportion of multi-storey buildings is in- what more modest. Blocks from the interwar ▶ Source: CBRE based on data from empirica-systeme GmbH © Cartography: Nexiga, 2006–2014 Tom Tom

66 67 Steglitz-Zehlendorf Districts Housing Market Report Berlin 2019

period, often with large leafy courtyards but only district’s most unpretentious residential areas in Rent and housing costs small apartments, dominate the area over long Lankwitz and Lichterfelde South. There are, ho- The district in small-scale analysis stretches. Local amenities are particularly good wever, also some beautiful historic villa areas in on the stretch between Steglitzer Damm and Al- this part of the district, namely near the east bank brechtstrasse, but otherwise still expandable. of the Teltow Canal. The district’s largest residen- Housing market data Housing cost 3,480 With modest housing estates from various tial construction site is currently on a former mil- 2012 – 2017 epochs of the 20th century and a concentration itary site in Lichterfelde South, where over 2,000 Postcode Number Basic rent Basic rent in Basic rent in Apartment Total Household Housing housing increase of high-rise buildings at the “Thermometersied- units are in planning as duplex houses, terraced of rental in all market bottom market top market size1, avg. housing purchasing cost ratio3 lung” in the district’s southeast, you will find the houses and multi-storey buildings. ■ offers segments1 segment1 segment1 in m² cost2, avg. power, avg. in % in € / m2 / month in € / m2 / month in € / m2 / month in € / month in € / month

12163 222 11.04 (73) 7.66 (37) 15.50 (82) 75.4 (24) 1,038 (36) 3,357 (74) 30.9 (48) 12165 35 11.16 (68) 7.98 (27) 18.51 (32) 59.9 (158) 832 (95) 3,539 (54) 23.5 (121) The district in comparison 12167 274 10.32 (95) 7.50 (47) 14.25 (103) 62.9 (126) 821 (99) 3,170 (101) 25.9 (96) Where is the district positioned in the urban fabric? 12169 167 10.00 (104) 6.92 (101) 14.00 (112) 63.4 (122) 807 (107) 3,069 (118) 26.3 (92) -1,049 12203 231 10.16 (100) 7.52 (46) 14.21 (104) 67.0 (74) 864 (86) 3,631 (49) 23.8 (117) 2017 natural net 12205 165 10.54 (88) 7.54 (44) 15.87 (76) 70.0 (46) 929 (66) 4,478 (11) 20.7 (161) population balance

12207 183 9.42 (135) 6.20 (155) 13.96 (117) 67.0 (74) 814 (104) 3,445 (69) 23.6 (120)

12209 167 9.62 (128) 7.24 (71) 14.17 (105) 77.0 (21) 951 (59) 4,180 (16) 22.7 (134) 22.9 7.2 10.34 % 2018 housing % 2008 – 2017 con- € /m2 2018 (Q1 – Q3) 12247 185 9.63 (127) 7.04 (86) 12.50 (142) 64.0 (115) 791 (122) 3,450 (68) 22.9 (131) cost ratio struction completions asking rent 12249 178 9.19 (140) 6.93 (99) 13.24 (125) 63.9 (118) 762 (134) 3,416 (70) 22.3 (139)

14109 76 10.52 (90) 7.35 (64) 13.61 (122) 81.6 (9) 1,081 (30) 4,674 (5) 23.1 (125)

14129 100 11.00 (77) 7.04 (86) 14.08 (108) 83.0 (8) 1,139 (19) 4,976 (2) 22.9 (131) 43.8 Share of average housing costs Of all completions in Berlin, Asking rent (median) in comparison 14163 123 10.81 (84) 8.33 (12) 15.71 (79) 80.6 (13) 1,091 (28) 4,484 (9) 24.3 (112) Living space per (basis: asking rent) of the average share of completed apartments with the maximum value of the districts inhabitant in m2 household purchasing power in new residential buildings (Friedrichsh.-Kreuzb., €12.99/m²) 14165 159 10.20 (98) 7.59 (41) 14.06 (109) 61.8 (137) 799 (118) 3,801 (34) 21.0 (156)

14167 185 11.25 (65) 8.36 (11) 15.57 (81) 80.0 (16) 1,118 (21) 4,539 (7) 24.6 (108)

14169 201 10.54 (88) 8.24 (16) 14.44 (100) 66.0 (85) 876 (84) 3,987 (24) 22.0 (142) 14195 156 12.20 (40) 9.00 (2) 16.33 (67) 89.4 (4) 1,335 (7) 5,137 (1) 26.0 (95) Due to the distance from the city centre, District 2,807 10.34 7.30 14.86 68.0 889 3,878 22.9 Berlin 40,154 10.34 6.46 17.13 65.0 833 3,258 25.6 25.7 there are still some relatively inexpensive (1) Median (2) Includes operating costs: 2.26 €/m² (eastern Berlin), 2.73 €/m² (western Berlin) and 2.50 €/m² (all of Berlin) (3) Rent (incl. utilities) as percent Share of population of household purchasing power () Rank among the 186 postcodes with rental data Source: CBRE based on data from empirica-systeme GmbH, BBU (operating aged 65 and older in % rental and condominium apartments. costs), Michael Bauer Research; compiled by CBRE

New construction in the district Two current project developments in detail Zehlendorf has an old fashioned ÜBERLIN Wohntower Lankwitzer Hofgärten

solid feel to it, with many locations Developer: CG Gruppe Developer: Bonava Area: Steglitz Area: Lankwitz boasting water and plenty of Street: Schloßstrasse Street: Mühlenstrasse Residential Units: 329 Residential Units: 143 space. The Steglitz area is an ideal Type of use: condominium Type of use: rent/condominium Sale prices €/m2: 4,300 – 9,000 Prices €/m2: e.g. 4,370 – 5,810 combination of idyllic suburb and excellent infrastructure.

68 69 Tempelhof-Schöneberg Districts Housing Market Report Berlin 2019

Basic rent for apartments in apartment buildings in € / m2 / month 13.00 and above 12.00 to 12.99

11.00 to 11.99 10.00 to 10.99 9.00 to 9.99 8.00 to 8.99 7.00 to 7.99 to 6.99 Insufficient number of cases

Tempelhof- Schöneberg

This district stretches from Wittenbergplatz, with the luxury KaDeWe department store, to the city’s southern outskirts. The connection between rent level and city proximity is particularly obvious here.

The streets of Schöneberg’s Bayerisches Viertel consequence of restructuring between the 1960s 15.6 quarter extend nearly to Kurfürstendamm. De- and 1980s. Often, the buildings constructed after Green space per veloped around 1900 as a bourgeois residenti- this time no longer have formal low-rent obliga- inhabitant in m2 al quarter, it later suffered severe war damage. tions, but they are still aimed at tenants with lo- Nonetheless, it still boasts some beautiful streets wer incomes – for example, around Bülowbogen, 1 2 3 with old buildings. Viktoria-Luise-Platz and Bay- in the Pallasseum and on the Schöneberger Ter- 4 erischer Platz are landscaped highlights, offer- rassen further south between Feurigstrasse and Galleries per Kaiser-Wilhelm-Platz Neu-Tempelhof Marienfelde Nordost ing a range of local amenities and gastronomic Ebersstrasse. 100,000 inhabitants The neighbourhood around Kaiser-Wilhelm- The beautiful garden city of Neu-Tempelhof Marienfelde, a neighbourhood full of exciting opportunities at the same time. Even today, this Once modest neighbourhoods in the east of Platz has always been very lively. David Bowie is located directly on Tempelhofer Feld, on contrasts, has an interesting mix of high-rise quarter attracts people with purchasing power. Schöneberg have experienced a strong upswing, lived at 155 Hauptstrasse together with Iggy the site of the former airport, famous for its key housing and pretty detached family houses 829 Pop, the “Godfather of Punk” during his time role in the Berlin airlift. The single-family in an attractive environment. There are several The urban areas on Hauptstrasse to the south for example the area around Crellestrasse and Ø distance to the next in West Berlin at the end of the 1970s. In homes, duplex and terraced houses dating parks offering a whole range of outdoor activ- near Rudolph-Wilde-Park and to the east towards the “Schöneberger Insel”, which once stood so- “Spaeti” convenience Akazienstrasse, you can enjoy the diverse mix- from the 1920s, the quiet atmosphere and the ities here, making it easy for residents to es- Alt-Schöneberg are also well-kept, with some mewhat isolated between railway lines. Frieden- store in metres ture of nice little cafés, bookshops, fashion greenery give the neighbourhood a villagey cape the hustle and bustle of the city to rural beautiful old buildings. Hauptstrasse and its au, with its quarters comprising some very be- boutiques and delicatessens. atmosphere. and green idyll. northern extension, Potsdamer Strasse, also have autiful old buildings and an artistic-intellectual some more modest residential quarters – a late flair, is also attractive and in demand. ▶ Quelle: CBRE based on data from empirica-systeme GmbH © Cartography: Nexiga, 2006–2014 Tom Tom

70 71 Tempelhof-Schöneberg Districts Housing Market Report Berlin 2019

Tempelhof has a more suburban character through- Mariendorf, Marienfelde and Lichtenrade are Rent and housing costs out. Berlin's “Fliegerviertel”, the terraced house characterised by extensive family housing as well The district in small-scale analysis area closest to the city, emerged in the district’s as by some post-war quarters with apartment far north following the First World War. However, buildings. On the outskirts of the city, there are potential buyers are seldom willing to pay pre- large housing estates from around 1970, which Housing market data Housing cost 1,261 mium prices for properties in Berlin's “Fliegervier- still have the lowest rent level in the district today. 2012 – 2017 tel”. Tempelhofer Damm is the neighbourhood’s The south of Lichtenrade is only a few kilometres Postcode Number Basic rent Basic rent in Basic rent in Apartment Total Household Housing housing increase most important shopping mile but suffers from away from BER airport, which has been ‘almost of rental in all market bottom market top market size1, avg. housing purchasing cost ratio3 heavy pollution caused by car traffic emissions. completed’ for a long time. ■ offers segments1 segment1 segment1 in m² cost2, avg. power, avg. in % in € / m2 / month in € / m2 / month in € / m2 / month in € / month in € / month

10777 186 12.82 (23) 8.00 (26) 19.54 (17) 74.0 (29) 1,151 (18) 3,588 (51) 32.1 (36) 10779 89 12.00 (46) 8.23 (17) 18.75 (29) 63.0 (124) 928 (67) 3,326 (77) 27.9 (80) The district in comparison 10781 119 11.63 (55) 6.98 (96) 18.30 (36) 77.0 (21) 1,106 (24) 3,076 (115) 36.0 (17) Where is the district positioned in the urban fabric? 10783 141 11.91 (48) 5.93 (166) 22.18 (3) 65.2 (101) 954 (58) 2,935 (147) 32.5 (31) 179 10823 68 11.98 (47) 7.69 (36) 21.90 (5) 65.2 (100) 959 (57) 2,948 (143) 32.5 (31) 2017 natural net 10825 88 11.66 (54) 7.39 (56) 18.00 (41) 67.5 (67) 971 (53) 3,059 (119) 31.8 (37) population balance

10827 142 11.22 (67) 8.16 (19) 16.35 (66) 67.1 (73) 936 (64) 3,120 (107) 30.0 (56)

10829 170 12.60 (28) 8.03 (24) 17.42 (51) 61.2 (143) 937 (62) 2,889 (151) 32.4 (33) 25.5 3.0 10.26 % 2018 housing % 2008 – 2017 con- € /m2 2018 (Q1 – Q3) 12099 178 9.64 (126) 7.37 (62) 15.87 (76) 55.0 (179) 680 (161) 2,785 (166) 24.4 (111) cost ratio struction completions asking rent 12101 86 11.00 (77) 7.07 (83) 13.91 (119) 65.0 (103) 892 (78) 3,247 (91) 27.5 (82)

12103 207 10.91 (80) 7.20 (74) 15.01 (88) 66.0 (85) 900 (74) 3,039 (122) 29.6 (60)

12105 182 9.76 (120) 6.68 (116) 14.11 (107) 60.3 (151) 753 (141) 3,100 (112) 24.3 (113) 39.0 Share of average housing costs Of all completions in Berlin, Asking rent (median) in comparison 12107 170 9.55 (130) 6.54 (129) 13.24 (125) 67.4 (69) 827 (96) 3,646 (45) 22.7 (135) Living space per (basis: asking rent) of the average share of completed apartments with the maximum value of the districts inhabitant in m2 household purchasing power in new residential buildings (Friedrichsh.-Kreuzb., €12.99/m²) 12109 160 9.69 (124) 6.99 (95) 14.00 (112) 62.7 (128) 778 (128) 3,212 (94) 24.2 (115)

12157 150 10.67 (87) 7.02 (88) 14.63 (96) 66.0 (85) 884 (82) 3,117 (108) 28.4 (73)

12159 121 11.25 (65) 7.38 (60) 18.14 (37) 72.3 (35) 1,011 (41) 3,458 (67) 29.2 (63) 12161 183 11.78 (50) 8.30 (15) 16.07 (72) 70.0 (46) 1,016 (39) 3,502 (57) 29.0 (67) Asking rents in Schöneberg are generally 12277 105 8.67 (159) 6.57 (126) 14.74 (94) 71.0 (41) 809 (106) 3,759 (37) 21.5 (148) 12279 153 7.71 (176) 6.17 (156) 10.01 (179) 63.8 (120) 666 (166) 3,468 (63) 19.2 (176) 20.9 higher than in Tempelhof. Regarding 12305 149 9.01 (144) 6.54 (129) 11.95 (158) 67.3 (71) 790 (124) 3,953 (27) 20.0 (169) Share of population aged 65 and older in % purchasing power, the opposite applies. 12307 78 9.78 (118) 6.82 (107) 13.10 (128) 72.4 (34) 905 (72) 4,122 (17) 22.0 (143)

12309 165 8.46 (163) 6.69 (112) 11.50 (165) 68.0 (63) 761 (137) 3,650 (44) 20.8 (159)

District 3,090 10.26 6.79 16.25 65.3 848 3,325 25.5

Berlin 40,154 10.34 6.46 17.13 65.0 833 3,258 25.6

(1) Median (2) Includes operating costs: 2.26 €/m² (eastern Berlin), 2.73 €/m² (western Berlin) and 2.50 €/m² (all of Berlin) (3) Rent (incl. utilities) as percent of household purchasing power () Rank among the 186 postcodes with rental data Source: CBRE based on data from empirica-systeme GmbH, BBU (operating New construction in the district costs), Michael Bauer Research; compiled by CBRE Two current project developments in detail

Maison VIKTORIA Schöneberger Höfe

Developer: PROJECT Immobilien Developer: Bonava Area: Friedenau Area: Schöneberg Street: Varziner Straße Street: Tempelhofer Weg Residential Units: 39 Residential Units: 161 Tempelhof-Schöneberg unites areas of old Type of use: condominium Type of use: condominium Prices €/m2: approx. 4,600 – 7,060 Prices €/m2: e.g. 4,900 – 5,970 buildings, high-rise housing estates, idyllic city suburbs and Berlin’s largest open space.

72 73 Treptow-Köpenick Districts Housing Market Report Berlin 2019

Basic rent for apartments in apartment buildings in € / m2 / month

13.00 and above 12.00 to 12.99 11.00 to 11.99 10.00 to 10.99 9.00 to 9.99 8.00 to 8.99 7.00 to 7.99 to 6.99 Insufficient number of cases

Treptow-

Köpenick Berlin's greenest district, in parts, the furthest from the city centre, has a colourful spectrum of neighbourhoods. From industry-orien- ted living to luxury villas, there is something for everyone.

The area around Treptower Park is the only corner the district, there is some great potential for new 18.8 of the district situated within the Berlin S-Bahn construction, for example on former industrial Green space per ring. Characterised by old buildings, this quarter and less used mixed areas. Even attractive water inhabitant in m2 accounts for the highest rent level in Treptow-Kö- locations are still free in places and will be awai- penick. Southwards from here, it doesn’t take long ting development in the near future. 1 2 3 before it becomes suburban green. Residential Köpenick almost has the character of an inde- 5 areas, mostly of medium density, commercial zo- pendent town. The small, idyllic old town with Kö- Galleries per Schnellerstrasse Allende I Karolinenhof nes and allotments alternate and blend into each penick Palace is situated on an island. Areas with 100,000 inhabitants A varied mix of many elaborately and With almost 7,000 apartments, the neighbour- The eldorado for water sports is named after other repeatedly. This image characterises the old building structures border onto it; trade and beautifully renovated Wilhelminian houses hood named after the former Chilean pre- the wife of Kersten the farmer, who leased 72 areas of Baumschulenweg, Johannisthal as well other infrastructure are concentrated to the north, combined with interesting and pragmatic sident Salvador Allende, is a large housing hectares of land there in 1785. The banker 1,037 new buildings has been created between estate typical of Berlin. Erected mainly as pre- Albert Schappach founded a villa colony here as large parts of Grünau and Adlershof, the west in the direction of the railway station. Residential Ø distance to the next Schnellerstrasse and the River Spree. The fabricated buildings on the former Amtsfeld, in 1895. The buildings in the street named of which has now been populated with science, re- areas of varied character, but almost always green “Spaeti” convenience municipal housing associations, in particu- previously an allotment garden area, from after him are today listed. Karolinenhof was a search and high-tech production companies. and peaceful, are further away. Leafy spaces cha- store in metres lar, are building affordable apartments for 1971, the apartments in Allende I have since very popular place amongst the heads of the Gradually opening up the banks of the Spree, racterise the residential areas in Köpenick’s far students and young families. been extensively renovated. GDR government in the 1980s. the once harsh industrial district of Schöneweide north as well as the Salvador Allende area in is now attractive for artists. Here, as elsewhere in the east of the district, which consists of large ▶ Source: CBRE based on data from empirica-systeme GmbH © Cartography: Nexiga, 2006–2014 Tom Tom

74 75 Treptow-Köpenick Districts Housing Market Report Berlin 2019

GDR pre-fab constructions. Friedrichshagen, which The wooded and watery residential estates of Rent and housing costs has experienced a significant revaluation in - re Rahnsdorf, Wilhelmshagen, Müggelheim and The district in small-scale analysis cent years, is one exception. Today, the former co- the small Hessenwinkel, which sometimes look lonist village features the dead-straight Bölsche- more like recreational areas than suburban esta- strasse, a rare type of suburban boulevard with tes, are located about 25 kilometres from Berlin’s Housing market data Housing cost 8,504 numerous individual shops, cafés, bookstores and city centre. In the city’s far south, the areas of Alt- 2012 – 2017 artistically oriented trade on offer. From here, you glienicke and Bohnsdorf are much simpler and Postcode Number Basic rent Basic rent in Basic rent in Apartment Total Household Housing housing increase can quickly reach Müggelsee Lake and an extensi- scenically attractive, and their future is likely to of rental in all market bottom market top market size1, avg. housing purchasing cost ratio3 ve area of hills and forests. be strongly shaped by the major airport. ■ offers segments1 segment1 segment1 in m² cost2, avg. power, avg. in % in € / m2 / month in € / m2 / month in € / m2 / month in € / month in € / month

12435 148 12.08 (43) 7.24 (71) 16.50 (63) 68.2 (62) 978 (52) 2,931 (148) 33.4 (25) 12437 327 9.90 (110) 7.38 (60) 13.00 (130) 58.0 (169) 705 (155) 2,857 (153) 24.7 (107) The district in comparison 12439 220 10.32 (96) 6.50 (134) 14.69 (95) 65.7 (94) 826 (97) 3,070 (116) 26.9 (87) Where is the district positioned in the urban fabric? 12459 604 8.89 (152) 6.70 (111) 14.13 (106) 57.9 (171) 646 (174) 2,807 (164) 23.0 (128) -11 12487 220 9.85 (115) 6.69 (115) 12.42 (144) 67.8 (64) 821 (100) 3,104 (111) 26.5 (90) 2017 natural net 12489 363 9.84 (116) 7.12 (80) 12.93 (136) 66.7 (80) 807 (108) 3,205 (96) 25.2 (101) population balance

12524 198 8.69 (158) 6.62 (119) 14.00 (112) 74.6 (28) 817 (101) 3,964 (26) 20.6 (163)

12526 44 9.72 (121) 6.88 (105) 12.00 (155) 67.0 (74) 802 (112) 4,077 (19) 19.7 (174) 23.2 13.3 9.61 % 2018 housing % 2008 – 2017 con- € /m2 2018 (Q1 – Q3) 12527 193 11.06 (71) 7.13 (79) 14.29 (101) 80.4 (15) 1,071 (31) 4,010 (22) 26.7 (88) cost ratio struction completions asking rent 12555 643 10.00 (104) 6.53 (132) 14.00 (112) 65.4 (98) 802 (112) 3,110 (110) 25.8 (97)

12557 407 9.02 (143) 6.37 (146) 12.02 (152) 65.8 (93) 742 (146) 3,458 (66) 21.4 (150)

12559 173 8.69 (157) 5.92 (168) 11.56 (163) 62.3 (133) 682 (159) 3,577 (52) 19.1 (178) 38.8 Share of average housing costs Of all completions in Berlin, Asking rent (median) in comparison 12587 190 9.38 (136) 6.77 (109) 13.00 (130) 65.6 (96) 763 (133) 3,408 (71) 22.4 (137) Living space per (basis: asking rent) of the average share of completed apartments with the maximum value of the districts inhabitant in m2 household purchasing power in new residential buildings (Friedrichsh.-Kreuzb., €12.99/m²) 12589 65 10.16 (100) 7.45 (51) 13.00 (130) 69.0 (56) 857 (90) 4,218 (15) 20.3 (165)

District 3,795 9.61 6.62 13.93 65.0 772 3,327 23.2

Berlin 40,154 10.34 6.46 17.13 65.0 833 3,258 25.6

(1) Median (2) Includes operating costs: 2.26 €/m² (eastern Berlin), 2.73 €/m² (western Berlin) and 2.50 €/m² (all of Berlin) (3) Rent (incl. utilities) as percent of household purchasing power () Rank among the 186 postcodes with rental data Source: CBRE based on data from empirica-systeme GmbH, BBU (operating Even in good locations close to costs), Michael Bauer Research; compiled by CBRE 22.5 woodland and water, the remoteness Share of population aged 65 and older in % restricts upward price developments.

New construction in the district Two current project developments in detail The potential for extensive housing Bohnsdorfer Weg Altglienicker Höfe

construction in Treptow-Köpenick is being Developer: degewo AG Developer: STADT UND LAND Area: Altglienicke Area: Altglienicke actively exploited. New apartments are Street: Bohnsdorfer Weg Street: Ortolfstrasse Residential Units: 72 Residential Units: 406 being built in green and wooded locations Type of use: rent Type of use: rent Rent €/m2: avg. under 10.00 Rent €/m2: n/a near water, as well as in the district’s former

industrial and commercial buildings. © BE Berlin GmbH

76 77 Housing Market Report Berlin 2019

Imprint

Publisher (15th edition) Project Management Printing Impressum Jutta Kreuzinger, Berlin Hyp AG DBM Druckhaus CBRE GmbH Kristina Rüther, CBRE GmbH Berlin-Mitte GmbH Hausvogteiplatz 10, 10117 Berlin Telefon +49 (0)30 7261540 Editor The Housing Market Report Fax +49 (0)30 726154100 Roland Stimpel, is available for download on: Jens Lossin www.berlinhyp.de Berlin Hyp AG www.cbre.de Budapester Straße 1, 10787 Berlin Market Data Telefon +49 (0)30 259990 Martin Boemer, Fax +49 (0)30 25999131 Kristina Rüther, Michael Schlatterer MRICS, Responsible under German press law Valuation Advisory Services, Dr. Henrik Baumunk, CBRE GmbH CBRE GmbH Gero Bergmann, Berlin Hyp AG Photos Additional sources to those mentioned on previous pages: Editorial Board Cover: Hildegard Schaumann CBRE based on Amt für Statistik Berlin-Brandenburg, OSM, Stadt- Kristina Rüther, CBRE GmbH Nick Strutsi informationssystem berlin.de, empirica-systeme and MB Research

Methodology rental properties on offer, condominiums and investments

Asking rents (excluding service charges and heating) for apartments, determined - i.e. the values that are higher than half of all the offers offers of condominium apartments and offers of apartment buildings and lower than the other half. In order to show extreme values, the in Berlin are used in the analysis. In the periods from the first to third lowest-priced and the most expensive deciles (i.e. 10 percent) of the quarters of both 2017 and 2018, 81,279 rental offers, 52,033 offers apartments were separately analysed. These represent the lower and of condominium apartments for sale and 1,603 offers of apartment upper segments of the market. The medians of the figures in these buidlings were analysed. From these, the medians for each year were segments were also determined.

Methodology of the Housing Cost Atlas

The 40,154 apartments on offer in the first three quarters of 2018, high- and low-priced segments to be portrayed. In order to assess the where floor area and asking rent were stated, were ascribed tothe so-called "warm" rents (i.e. including heating and services) flat-rate 190 Berlin postcodes. This provided a statistically adequate number ancillary costs of €2.73 per square metre for the western districts of of offers for all areas apart from 13129 (Blankenburg), 13159 (Blanken- Berlin and €2.26 for the eastern districts were added. These figures felde), 13505 (Konradshöhe) und 14053 (Olympiastadion). The tables were based on the current data provided by the BBU. The average pur- give the median asking rent per square metre (excluding heating and chasing power per capita and per household is calculated annually at services) of all the properties on offer, as well as the medians of the postcode level by Michael Bauer Research GmbH. The average housing lower and upper deciles of those advertised. This enables the local cost ratio of a household was calculated using the following formula:

(average asking rent + ancillary costs) x average apartment floor area = average housing cost ratio average purchasing power

This report has been prepared with the necessary diligence and information contained herein has been obtained from sources believed to be reliable. Nevertheless, it cannot be ruled out that, despite careful research and appropriate calculation of possible risks, the information provided in this report may contain mistakes and/or inaccuracies.

LIABILITY EXCLUSION Thus, we make no guarantee, warranty or representation about the correctness, accuracy, timeliness and completeness of the content of this report and the Haftungsausschluss Berlin Hyp AG/CBRE GmbH: Die in diesem Marktbericht verwendeten Informationen basieren auf öffentlich zugänglichen (ggf. nur sources it is based on; any liability for the content of this report is excluded, as far as this is legally possible. The purpose of this report is to provide information. It must not be understood as giving any recommendation for a specific course of action or as a call for making a buying offer. gegen Honorar erhältlichen) Quellen. Obwohl wir von der Richtigkeit der verwendeten Daten ausgehen, weisen wir darauf hin, dass wir diese im Einzelfall nicht nachgeprüft haben und dafür keine Gewähr übernehmen, ausgenommen bei Vorsatz und grober Fahrlässigkeit. Es ist die Verantwortlichkeit COPYRIGHT NOTICE The content of this report is protected by copyright. All rights remain reserved. The use or distribution of this report, in whole or in part respectively, and irrespec- des Lesers, die Richtigkeit und Vollständigkeit der Informationen zu prüfen. Die weitere Verwendung, Vervielfältigung oder Veröffentlichung der im Markt- tive of the chosen medium, requires prior written consent of Berlin Hyp AG and CBRE GmbH and a source indication. bericht verwendeten Informationen bedarf der vorherigen schriftlichen Zustimmung der Berlin Hyp AG und der CBRE GmbH.

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