Public transport networks are a vital way to get to know a city, but also to get to know a property market. In London, the central zones of the Tube map are most expensive to live in than the outer rings, but how does that translate to Berlin?
Black Label Properties have the answer: the agency has mapped the German capital’s average apartment price on the subway map as a handy way to determine the most affordble areas to live – or the best places to invest.
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 per cent on average and in Mitte and Charlottenburg by 12 per cent on average but on a higher price level,” says property agent Achim Amann.
In Berlin Mitte and Prenzlauer Berg, 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 Olympic Stadium) offer “excellent opportunities”, adds the agency, as prices have room for growth. Adlershof – known as the ‘city of science, technology and media’ is also highlighted as an up-and-coming area with its greenbelt status, international business clientele and close proximity to Schoenefeld Airport.Google+