Residential market trends

New development beats Berlin Victorian style apartments

Development activities in Berlin are still picking up. In 2021, 282 projects with a total of almost 45,000 apartments were analysed, according CBRE market report. In the following year, already 240 projects, with more than 22,000 apartments are scheduled to be built. Individual projects have become considerably larger and are mostly completely sold off-plan or rented out before the building process has been completed.

There is a wide range of asking prices for owner-occupied condominiums, starting from around €4,000 to over €10,000 per square metre in top locations.

The top four districts

The city-wide average asking price for existing condominiums has risen by 10 per cent in 2020, to € 4.630 per square meter. New developments start at € 5.000 in areas providing mainly family homes or in suburbs outside the S-Bahn ring. In central areas prices go up to € 9.000. In some top locations and for penthouses, prices already exceed € 12.500 per sqm.

There are four districts mainly representing the large existing condominium market in Berlin. The highest asking prices are being paid in: Mitte, Friedrichshain-Kreuzberg, Charlottenburg-Wilmersdorf and Pankow-Prenzlauer Berg.

Front runner for prices is Mitte
Average price in the four districts momentarily is at € 5,372 per square meter. In the historical center of Mitte, an average of € 8,500 per square meter is being asked. On the lower end of the market, such as Wedding and Moabit, prices below € 3.500 still can be found.

In the top segment, Friedrichshain- Kreuzberg ranks third with an average asking price of € 5,037. Charlottenburg- Wilmersdorf comes second, with a median asking price of € 5,313. In fourth place, with prices of €4,810 – slightly above the whole-city average – is Pankow-Prenzlauer Berg. 


New development 2020