After a sharp drop in new built apartments in Berlin and Brandenburg in 2008 numbers for building permits have gone down even more. During the first six months of 2009 only 1,335 building permits for residential and non residential projects were issued. Another drop by 17,7 % compared to the same period of the previous year.
These building permits include 2.571 new apartments mostly in Pankow, Friedrichhain-Kreuzberg and Treptow-Köpenick, another 20% below the previous year.
In Brandenburg, the state surrounding Berlin, the reduction was "only" 6.5 %.
With Berlin attracting more and more businesses and maturing in its role as capital 20 years after the wall fell and 15 years after the move of the "Bundestag" (German parliament) this development in reduced new production of housing due to the credit crunch will put an upward pressure on existing rents.
It is time to get into this Berlin property market!
For support in the identification of the right investment targets please visit our website at www.berlin-portfolio.com. Especially for international Private Investors and Property Funds we provide a task force service for quick reaction to interesting opportunities.
We provide independent support for the property search including foreclosure or auction properties and their valuation or appraisal. (Also see our free property market Research Service)
Please use this link to the contact facilities provided there to place any requests .
Uwe Falkenberg
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