Berlin real estate prices show stability: the focus on purchase and rental market
Berlin real estate prices show stability: the focus on purchase and rental market
The precarious times for the real estate market in Berlin seem to have come to an end! In a current analysis of the IVD Berlin-Brandenburg, it becomes clear that the purchase prices for condominiums have reached the valley sole. In the third quarter of 2024, prices only fell 2 percent compared to the previous year. This is a noticeable relaxation for everyone who is looking for their own four walls in the capital!
But what does that mean specifically for the fleeting real estate landscape? The inner city districts such as Mitte, Prenzlauer Berg and Friedrichshain remain the most expensive corners in Berlin with an average price of 6,240 euros per square meter. On the other side of the medal, there are districts such as Spandau, where buyers with prices of around 3,150 euros per square meter come away much cheaper.
single -family houses in the upswing
The matter becomes even more exciting if you look at the prices for single -family houses. These are an average of 5,480 euros per square meter and are therefore a little more expensive than condominiums. However, there is a decline of about 4 percent compared to the previous year. The remnants of the amenities in Wilmersdorf are particularly expensive, where you have to pay for an impressive 12,300 euros per square meter for a home. But don't panic, in Reinickendorf, Wedding, Pankow and Weißensee, buyers can make a bargain under 5,000 euros per square meter!
What does the future bring for Berlin's real estate buyers? Andreas Habath, a real estate expert, encourages! "The descent of the transaction figures and purchase prices has weakened. Buyers and sellers will find each other again if they get proper advice," he explains. Sure, the building energy network will influence the prices for older real estate, but there is a lot to suggest that the market could stabilize.
The rents remain stable
And what about the rental prices? The local rents in Berlin are stable at 9.24 euros per square meter! That is 90 percent of all rental contracts that are based on these comparative rents. If you want to live in inner -city locations, of course pay more - the eastern city costs 11.19 euros per square meter. It gets cheaper in Spandau with prices around 7.07 euros per square meter. A clear trend becomes visible here: the differences between the districts decrease.
Kerstin Huth, the chairwoman of the IVD Berlin-Brandenburg, leaves no doubt: "Berlin is not a rental city!" She claims and draws a clear line. The problem? The market is over -regulated, and the situation will not improve without incentives for the new building. Even with new construction projects, rents will increase to finance the necessary energetic modernizations. A clear warning to politics!
Overall, the current analysis of IVD Berlin-Brandenburg shows that the time for buyers has come to move back to the market. There are opportunities to find the right offer for both buying and renting for various budgets!
Real estate prices in Berlin - a topic that affects everyone! The developments on the real estate market will continue to ensure conversation. Whether buying or renting, the price movements are an exciting topic!