Wednesday, 14 October 2009

Price Development for Properties in Berlin 2009

The German broker's association IVD came to interesting results in their latest market report for the Berlin-Brandenburg metropolitan region.

The price development for apartments in Berlin recently is spreading according to location. This spread applies both to purchase prices as well as rent.

Purchase prices and rents at the low end of the market and in medium locations fell slightly, they remained bullish in good and very good residential and commercial locations. Purchase prices for apartments in standard residential locations stabilised at €1,200/sqm, while sellers in choice locations were able to demand €1,600/sqm on average – some 3.5% more than during the same period last year.

Similar developments can also be observed in retail and office rents. While top locations in city centers were able to raise rents, facilities at the outskirts are still under pressure. Tauentzienstrasse, at €230.00/sqm, has the highest rent for retail. For office and doctors’ office space, current peak rent is €21.00/sqm.

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Uwe Falkenberg


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