BERLIN


Everyone knows it’s expensive to find a place to live in London, Paris and New York – people usually think it must be expensive finding accommodation in a large city. Nothing could be further from the truth. In Berlin, prices for apartments are less than half those in Stockholm and if you compare with other German cities such as Hamburg and Munich, Berlin is still significantly cheaper.
 
How is that possible? The explanation lies in part in the gold-rush atmosphere that prevailed among players in Berlin’s property market following the fall of the wall in 1989. New apartment blocks and office buildings were built rapidly and prices rose dramatically. But in the mid 1990s, the air went out of the market. Prices fell significantly.
However, over the last few years, an increasing trend could be seen, and the price per square metre for apartments in Berlin is now between EUR 800 and 2000. The equivalent price in Stockholm is EUR 5000.
 
Some of the people buying apartments in Berlin view them purely as investments and are renting them out. Others use them as holiday apartments or are simply moving there.

Throughout its history, Berlin has had a large mix of apartment types. Following the war, almost suburb-like projects were constructed in the centre of the city.

Rather characterless apartments from the 1950s are cheaper, while "Altbau", pre-war houses with high ceilings are, of course, more attractive and possibly more profitable long-term investments. In both the east and west, you can find suburb-like complexes in the centre of the city.

After "die Wende", the fall of the wall, many inefficient industries were closed in the east. That’s why where you can find top-renovated old industrial buildings in Prenzlauer Berg and Friedrichshain that have now been turned into lofts and apartments with exciting solutions. Attic apartments have also often been added.  




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