2016-05-20 | How Much It Costs To Live In Berlin – Mapped By Its Subway Stations
How Much It Costs To Live In Berlin – Mapped By Its Subway Stations
Our new property map enables you to compare the price of an average apartment across Berlin and identify key areas for investment.
It shows the average price of an apartment across the city by subway station, which is handy when comparing areas for sale and rental value and it also gives you an insight into how Berlin compares to other German cities and throughout Europe – London has its own rental map.
It’s a good starting point if you are researching affordable areas to live, and it will be interesting to look at in a year’s time as the market is ever changing. Historically, the richer areas of Berlin were in the West, but now areas like Prenzlaeuer Berg (former East) are popular and desirable with overseas investors. New laws have been brought in recently to protect the city’s property market so that it doesn’t become another Paris or London – unaffordable to all in the centre except the super rich. The aim is to retain its character, diversity and affordability by keeping sale and rental prices at a reasonable level.
“Sales are good at the moment, we have people from all over Germany and international buyers investing in houses and apartments, mainly for their first home. Berlin property prices have risen since 2014/15 in areas like Lichtenberg, Treptow, and Kopenick by 19% on average and in Mitte and Charlottenburg by 12% on average but on a higher price level,” says property agent Achim Amann.
Three key points to consider if you’re thinking about buying a property in Berlin:
- Berlin Mitte and Prenzlauer Berg (former East Berlin) are very popular amongst international buyers and prices continue to rise. A typical one-bed is around 250-300K or 4.5-5K per sq mtr.
- Berlin Westend, Grunewald and the South West are comparatively undervalued in comparison.
- Berlin Charlottenburg, Westend, Wilmersdorf, Grunewald and even Berlin Spandau (far west – close to the stunning Olympic Stadium) offer excellent opportunities as prices have room for growth in the near future. Adlershof – known as the ‘city of science, technology and media’ is an up-and-coming area with its greenbelt status, international business clientele and close proximity to Schoenefeld Airport. A one-bed apartment in Charlottenburg, Westend, Wilmersdorf is around 200K or 3.5-4.5K, which is a difference of 500 euros per sq mtr, or 15% in price.