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Real estate in 12 districts of Berlin: prices and prospects

The real estate market in Berlin is one of the most dynamic in the world. Each year, the number of residents of the capital is growing by about 40 thousand people: most often these are young professionals who come to the capital in search of work. In 2016, Berlin’s GDP grew by 4.6%, which is 1.3 percentage points higher than the national average.

The growth of the economy and population is pushing demand and prices per square meter.

From 2011 to 2016, the average cost of residential real estate in Berlin has more than doubled and amounts to 4,136 euro / m².
The average rent for the same period increased by 70% and reached 11.24 euro / m² per month.
Modern Berlin is divided into 12 districts, which include 96 districts.
Lichtenberg is called “Berlin in miniature”. This is one of the fastest growing areas of the city: according to analysts, from 2015 to 2030 the population here will increase by almost 10% (in Berlin as a whole – by 7.5%). Today a square meter in Lichtenberg costs 4,015 euros, rent – 10.29 euros / m². From 2007 to 2016, real estate here has risen by 40%.

Lichtenberg ranks first in the number of housing under construction in Berlin: in the near future there will be more than eight thousand new apartments: these are 2 920 apartments per 100 thousand inhabitants, against 890 on average in the city.

Marzahn hellersdorf
Real estate in Berlin
Marzahn-Hellersdorf is called the most Russian-speaking district of Berlin. There are a lot of typical prefabricated houses built in the second half of the last century – from the beginning of the 90s the government began the reconstruction and modernization of this fund.

Marzahn is the cheapest area to rent in Berlin: renting an apartment here costs an average of 8.01 Euro / m². The cost per square meter is also one of the lowest in the city: 3,316 euro / m².

Marzahn District, real estate in Germany
Today in Marzahn-Hellersdorf planned construction of about 2 thousand apartments. BerlinHyp analysts promise bright prospects for the district: in 2016 alone, the rental price here increased by 10.6%.

Mitte
Real estate in Berlin
Mitte, located in the city center, is the most expensive district of Berlin. Buying an apartment here will cost about 6,757 euros / m², and rent – at 15.75 euros / m².

The Bundestag, the Bundesrat, embassies and the main offices of international and German companies are located in Mitte. This is the cultural center of the capital: here are Alexanderplatz, Potsdamer Platz and Hacke courtyards. The Friedrichstraße shopping street runs through the entire central part of Berlin and connects the Mitte and Friedrichshain-Kreuzberg districts.

District Mitte, real estate in Germany
According to BerlinHyp, at present in Mitte, work is underway on 44 projects – these are almost new 6.7 thousand apartments with prices ranging from 3,300 to 15,000 euro / m².

Neukölln
Real estate in Berlin
Neukölln is traditionally considered a workers’ district, and immigrants make up more than a quarter of the local population. The prices here are still a little lower than in most parts of Berlin: an average apartment purchase is 3,558 euro / m², rent is 11.25 euro / m².

The local real estate market is actively developing. For the past few years, the district has been actively built up (therefore, at present, only 7 projects are being worked on here), and the rental price in 2016 has increased by 17.1% – more than in any other district of Berlin. Neukölln, along with Lichtenberg and Friedrichshain-Kreuzberg, is especially popular with the younger generation of the capital.

Punks
Real estate in Berlin
Pankov is the most populated district of Berlin, where almost 400 thousand people live. Property prices within it are very different: a square meter in areas close to the center, is much more expensive. Therefore, buying an apartment in Prenzlauer Berg, the closest district to the center, will cost 5,006 euro / m², and in Pankov, which is located a little further, the price goes down to 4,146 euro / m². The rental rate also differs: 13.13 and 10.39 Euro / m², respectively.

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