ProVenture were active in this market from 2006-2009. Market features which attracted us at the time were the low prices, different stage of the property cycle as to the rest of developed world, high levels of finance in place and steady rental demand.

The market entered a hold and then sell phase around 2012 when dramatic rental increases coupled with international money flooding in as the city was seen as a rare safe haven in the continuing Euro crisis pushed prices up. Price levels now seem out of sync with the local economy and wage levels and yields very low, but investors who did participate have done very well indeed during this period of recession in most countries.

Our View in 2009:

Regions:

Pankow

In the 19th century, Prenzlauer Berg was a traditional working-class district with five-storey tenement blocks dominating the skyline. The area went into decline under the GDR regime and became a focus for opposition movements. Numerous protest services and peace vigils were held in its churches in 1989. In recent years, Prenzlauer Berg has taken the place of Kreuzberg as the centre of autonomous, alternative culture. Schönhauser Allee is its main thoroughfare and shopping street and the area around the water tower is the place to stroll and relax.

The best-known area in Berlin and beyond is hardly ever associated with Pankow, but rather with its sub-district of Prenzlauer Berg. The area around Kollwitzplatz, which, since the fall of the Berlin Wall, has made the most progress and continues to develop as the hottest area in Berlin. More and more people are moving into the area and less are leaving. Pankow also has the highest birth rate in Berlin, which is itself experiencing something of a mini baby- boom. For a very large region Pankow benefits from the absence of any major troublesome derelict or neglected areas. While there are some areas that may appear less attractive due to the pre-fabricated developments these have maintained a good residential quality.
Prenzlauer Berg has ridden the early pickup in property prices more then anywhere else in Berlin with the exception of the old Mitte area.

As an area with high rental demand it should continue to carry a property price premium when compared with other areas with equivalent rental rates. Low vacancy rates in the south of the borough underpins the rental market here. It is very questionable whether the area will see significant capital growth as affordability is squeezed.

Vacancy Rate – 3.6% (Berlin Average 4.5%)

Rental levels – 5.9- 6.6 Eur per Sqm (Berlin Average 6.25 – 6.40 Eur)

Unemployment – 12.2% (Berlin Average 13.6%)

Rental demand for new letting – trend upward

Afford ability of rent (% of net income) – 28.1% (Berlin average 26.6%)

Reinickendorf

Reinickendorf is one of the greenest boroughs in Berlin. it is located in the northwest of Berlin and has a large lake and forestry area.

The borough has a variety of residential areas including imposing high rise tower blocks and small quaint old village centres. The district has a long industrial tradition and was home to international known names like Borsig. While much of the original industrial areas in the borough have been redeveloped there are still today many Global companies including Borsig, Motorola and Oracle. There is an interesting mix of over 9,000 businesses established in the borough in a variety of business and industrial locations.
Reinickendorf is currently the borough with the highest rate of population decline while conversely also showing the lowest vacancy rates.

This implies there has been some reduction in the total number of properties in the borough, this is generally the case where there is minimal new build and older properties are demolished or put to other uses. During the residential construction boom years (1991 – 2002) after re-unification Reinickendorf saw less new build than any other borough in Berlin except for Charlottenburg-Wilmersdorf, allowing for the comparative divergence in the available space between the mostly urban Charlottenburg-Wilmersdorf and the much more rural/suburban character of Reinickendorf this shows that the area missed out significantly on the construction boom of this period.
With an “Owner Occupancy” rate of nearly 23% it is one of a group of four boroughs (Steglitz-Zehlendorf, Reinickendorf, Treptow-Köpenick and Marzahn-Hellersdorf) which have noticeably higher owner occupancy rates than elsewhere in the city.

The common geographic locations of these four boroughs, stretching out to the rural periphery of the city boundaries, is indicative of higher owner occupancy rates in more rural neighbourhoods which have higher levels of single family properties. With the lowest ratio of property price to income in Berlin the borough has the potential for an increase in the rate of owner occupancy helping to restore the premium on property values, based on rental yield’s, that the borough enjoyed in recent years.

The willingness of investors to purchase residential investment property at increasingly lower rental yields in Berlin should be a long term driver for price growth. This is definitely a long term “Buy and Hold” area where good returns can be expected but without any of the speculative gains that are possible in other areas of the city.

Vacancy Rate – 3.3% (Berlin Average 4.5%)

Rental levels – 5.35 – 5.85 Eur per Sqm (Berlin Average 6.25 – 6.40 Eur)

Unemployment – 13.6% (Berlin Average 13.6%)

Rental demand for new letting – trend upward

Afford ability of rent (% of net income) – 21.3% (Berlin average 26.6%)

Mitte

The Brandenburg Gate is Berlin’s most famous landmark in Mitte and is the emblem of the city.

“Unter den Linden”, the famous boulevard, leads from here to the Schlossbrücke bridge and each of the properties along it has its own story to tell. Humboldt University, the State Opera, the Comic Opera, the armoury and the Crown Prince’s Palace are just a few of its best-known sights. The imposing group of grand classical buildings on Berlin Museum Island has been designated a UNESCO World Cultural Heritage site.

Alexanderplatz square with its cold yet impressive high-rise buildings remains the centre of East Berlin, dominated by the 365-metre television tower. Elegant Friedrichstrasse’s boutiques and upmarket department stores are places to shop and browse. Exclusive and quirky shops, chic cocktail bars and bohemian courtyards crowd together in the Hackesche Höfe complex. The reconstructed Nikolaiviertel quarter has preserved the charm of a small 18th century town. Gendarmenmarkt, designed by Schinkel and considered one of the most beautiful squares in Europe, with its Concert Hall and the German and French Cathedrals, lies close to the prominent domed building of St Hedwig’s cathedral. Potsdamer Platz at the heart of Berlin extends across the Mitte and Tiergarten districts.
Wedding is a district in the borough of Mitte, Berlin, Germany and was a separate borough in north-western Berlin until it was fused with Tiergarten and Mitte in 2001.

The former borough of Wedding included the district of Gesundbrunnen. Tiergarten (Animal Garden) is the name of both a large park in Berlin and a neighborhood within the borough of Mitte. Before German reunification, the borough of Tiergarten was a part of West Berlin. Before Berlin’s 2001 administrative reform, Tiergarten was also the name of a borough, consisting of the current neighborhood of Tiergarten (formerly called Tiergarten-Süd) plus Hansaviertel and Moabit. A new system of road and rail tunnels running under the park is located in the neighborhood, and Berlin’s new central station, Berlin Hauptbahnhof, is located nearby in Moabit.

In Wedding and Gesundbrunnen there are high levels of unemployment and high levels of residents living on social welfare. Foreigners make up a high percentage of the population resulting in a multi-cultural environment with a strong Turkish and Arabic presence. There is a vibrant artists’ community in Wedding with many informal galleries/studios which have been established to show their works. Due to Moabit’s proximity to the new Government District, many new buildings are being built there, such as for example the Federal Ministry of the Interior. In general properties in Moabit are mid market style and quality as there are not many high end altbau or new build up-market residential units in Moabit. In general the realatively cheap good quality housing close to the centre of the city make this an attractive area for investment.

Vacancy Rate – 4.8% (Berlin Average 4.5%)

Rental levels – 6.5-7.45 Eur per Sqm (Berlin Average 6.25 – 6.40 Eur)

Unemployment – 16.4% (Berlin Average 13.6%)

Rental demand for new letting – trend upward strongly

Afford ability of rent (% of net income) – 31.2% (Berlin average 26.6%)

Spandau

The district of Spandau (pop 33,000) gives its name to borough and is one of the oldest recorded areas in Berlin.

While originally an independent city it was incorporated into Greater Berlin as part of the boundary changes of 1920. It is located around the confluence of the rivers Spree and Havel and has long been the location of military fortifications which were first built in the region in the 10th century. Over time the military fortifications that evolved in the area led to the creation of Spandau Citadel which was completed in 1594 on land that is now in the adjoining district of Haselhorst. The areas armaments history dates from the late 16th century when there was a gun factory in the district, in the 19th and 20th century the district became a major arms production area. At the end of the 19th century Siemens AG setup production in the area and this eventually led to the creation of its own residential district of “Siemensstadt” to the east of the district Spandau. The cultural centre of the borough is the old City Spandau; the structure of the City Spandau generally dates from the early part of the 20th century.
With its position at the bottom of the rental change charts Spandau will only see positive development in rental rates as a result of overflow effects from other areas as they become less affordable.

With the Berlin market showing an overall trend towards yield compression with higher property prices Spandau should still see some price increases in the near term (the most recent increase in property prices in the borough is almost certainly based on investor activity and an acceptance of lower yields ). However, there is probably little potential in the short to medium term for any core property price increases due to better rental rates so the borough is very definitely a long term play.

Should rental rates and sales prices remain on their present course in the borough it will eventually become a major turn-around play, market entry timing will be important for those looking to take advantage of any turnaround. Spill over as tenants with lower income (or on income support) move into the area from more expensive adjacent boroughs and central areas where rents are rising rapidly should eventually stabilise rental rates.

Vacancy Rate – 7.2% (Berlin Average 4.5%)

Rental levels – 5.3 – 5.4 Eur per Sqm (Berlin Average 6.25 – 6.40 Eur)

Unemployment – 14.9% (Berlin Average 13.6%)

Rental demand for new letting – trend downward

Afford ability of rent (% of net income) – 20.1% (Berlin average 26.6%)

Charlottenburg – Wilmersdorf

The Charlottenburg District is situated north of the famous Kurfürstendamm, one of Berlin’s major shopping areas that developed in the West during the years that Berlin was divided.

The Charlottenburg district has a number of famous landmarks, perhaps the best known being Schloss Charlottenburg, an elegant palace commissioned in 1695 by Queen Sophie Charlotte. This part of Berlin is also home to some fine bookshops, bars and restaurants, mainly around the Savignyplatz.

Wilmersdorf is an area of Berlin, formerly a borough but since 2001 part of Charlottenburg-Wilmersdorf. The Kurfürstendamm runs through the area. Wilmersdorf was a village near Berlin (Deutsch-Wilmersdorf) and was made a part of “Greater Berlin” in 1920. The borough with the name of Wilmersdorf included also the areas of Halensee, Schmargendorf and Grunewald.
Charlottenburg – Wilmersdorf is seen as a very middle class area which due to its location close to town has maintained high rental rates with consistent demand for both rented and owner occupied property. The borough overall has the highest rental rates in Berlin.

As a combination of two mature West Berlin Neighborhoods the borough has probably undergone the least amount of change and development since re-unification. The combined borough is almost entirely residential based without much heavy industry and as a result it did not suffer as much damage during the war as other more industrialised areas. This consistency has meant that gains in the property market have been less than other areas that have undergone total re-newel and turnaround.

Vacancy Rate – 3.7% (Berlin Average 4.5%)

Rental levels – 7.55 -8.10 Eur per Sqm (Berlin Average 6.25 – 6.40 Eur)

Unemployment – 12.9% (Berlin Average 13.6%)

Rental demand for new letting – trend upwards

Afford ability of rent (% of net income) – 33.5% (Berlin average 26.6%)

Treptow-Köpenick

Berlin’s largest district by area… with the lowest population density

Treptow is connected superbly to the city-train net: the lines S3, S41/42 (ring train), S6, S8 and S9 open up the district, regional trains stop at train station Schöneweide. South of Treptow there is Schönefeld airport just outside the city’s border. The narrow, longish district between Köpenick and Neukölln is one of Berlin’s favourite jaunting target: the vast Treptower Volkspark and the Plänterwald forest permit a near-to-centre nature experience. The recovery area on the Spree river is to be reached by city-train as well as by steamer. Treptower Hafen, a marina, is one of the main landing stage for Berlin’s sightseeing ships.

In the Treptower Volkspark the monumental, in Stalinistic architecture designed Soviet Memorial recalls a sunken era. The Bridge of Hearts guides you to the “Insel der Jugend” (Island of Youth). Persons and institutions who engage for the dreams and hopes of children are honoured here with blue hearts which are embedded in the bridge. The giant sculpture, 30 meters in height, of the “Molecule Man” in the Spree points to the newly raised office centre “Treptowers” facing Volkspark. In Archenhold observatory, whose 21 metre large lens telescope is the world’s longest, Albert Einstein presented his relativity theory to the public. A visit in Adlershof, where writer Anna Seghers resided, can pay off: the modern research and science centre WISTA with its futuristic buildings as Photonic Centre and the former television centre of the GDR attract the science- and technique-devotee.

With an “Owner Occupancy” rate of nearly 20% it is one of a group of four boroughs (Steglitz-Zehlendorf, Reinickendorf, Treptow-Köpenick and Marzahn-Hellersdorf) which have noticeably higher owner occupancy rates than elsewhere in the city. The common geographic locations of these four boroughs, stretching out to the rural periphery of the city boundaries, is indicative of higher owner occupancy rates in more rural neighbourhoods which have higher levels of single family properties.
The high rate of owner occupancy in districts with more singly family homes is likely to maintain and possible increase the premium on property values that these higher rates generally bring to their neighbourhood.

Vacancy Rate – 3.2% (Berlin Average 4.5%)

Rental levels – 5.65 – 5.95 Eur per Sqm (Berlin Average 6.25 – 6.40 Eur)

Unemployment – 11.5% (Berlin Average 13.6%)

Rental demand for new letting – trend level

Afford ability of rent (% of net income) – 23.2% (Berlin average 26.6%)

Lichtenberg

Lichtenberg is situated in the heart of the former East Berlin.

It pleases residents with the advantages of both, its geographical position close to the city centre and the spacious atmosphere of a suburban area. The zoological park Friedrichsfelde with its 160 hectare ranks among Germany’s biggest ones; the neighbouring castle is designed in the style of a Dutch mansion. The park area was originally designed by Lenné in 1816 and is home to the Tierpark since 1955. To the northwest of the Tierpark the Zentralfriedhof (central cemetery) Friedrichsfelde is situated, on which Käthe Kollwitz rests in peace. On this cemetery there are many interesting and sometimes pompous graves, that remind of well-to-do Berliners of the past.
Infrastructural improvements which have been carried out recently include a number of new commercial center, upgraded recreational and leisure facilities and greater investment in the local environment.

There is a high proportion of “Plattenbauten” (Pre-Fab Concrete) buildings in the borough and the area had suffered from poor investment in the local infrastructure prior to reunification. A major renovation program has now been completed on the run-down residential developments that dominated the borough. This has resulted in a definite improvement in the image of the borough and stopped the decline in the population that had occurred since reunification when residents moved to other more desirable areas of the city or left Berlin completely. The population had decreased from 286,000 (based on the combined population of the two pre 2001 boroughs that makes up the new borough) to the 257,600 seen when the population of the borough bottomed out in 2004.

Vacancy Rate – 3.8% (Berlin Average 4.5%)

Rental levels – 5.4-5.85 Eur per Sqm (Berlin Average 6.25 – 6.40 Eur)

Unemployment – 13.3% (Berlin Average 13.6%)

Rental demand for new letting – trend level

Afford ability of rent (% of net income) – 25.7% (Berlin average 26.6%)

Marzahn-Hellersdorf

The borough is characterised by the large number (approximately 100,000) of prefabricated concrete buildings, known as “Plattenbauten”

The “Plattenbauten” buildings are constructed with pre-cast concrete slabs, dating from its pre-partition socialist past) and are home to approximately 50% of the residents of the borough. The Borough districts include Marzahn (pop 104,000) which is in the north of the borough and developed from a village area. The mass housing “Plattenbauten” developments of socialist times increased the population in the district dramatically when completed in the 1980’s. Developments in the district since re-unification include both retail and recreational. Since 2000 residential development occred in the Landsberger Gate area between Landsberger Allee and Eisenacher Str. The stock of Plattenbauten” blocks were also dramatically reduced.
The bottoming out of rents is about the best that can be expected for the borough in the near future.

This will probably leave the borough further adrift from the average rates for the rest of Berlin. Without any strong driver for improvement, apart from general overflow from the more expensive neighboring boroughs, the borough looks like the least interesting for all but the most speculative investors.

Vacancy Rate – 11.4% (Berlin Average 4.5%)

Rental levels – 4.8-5.4 Eur per Sqm (Berlin Average 6.25 – 6.40 Eur)

Unemployment – 14.4% (Berlin Average 13.6%)

Rental demand for new letting – trend level

Afford ability of rent (% of net income) – 19.6% (Berlin average 26.6%)

Tempelhof-Schöneberg

Tempelhof – Schöneberg is probably undergoing the highest combined growth rate for rents and sales prices of any of the boroughs of Berlin.

Schöneberg inhabitants are known for their style, even if non-style is in, and have no trouble bridging the blatant lifestyle gap between Kreuzberg and Wilmersdorf. The whole area is full of places offering the best in modern living. There are lots of stylish bars, cafes and nightclubs in this district. Making it popular with the young and those who perceive themselves to be on the cutting edge of fashion.It’s well worth peeping into the side streets and strolling down Akazienstraße towards Hauptstraße – the network of cafés, restaurants and bars is getting more intricate all the time.
The borough has a relative low residential vacancy rate which emphasizes the consistency of the property market within the borough.

With current rates of increases close to their projected highest levels it is anticipated that the current rate of increase may peak in the short term and drift down to more sustainable growth rates in the medium term. Recent buyers into the area are liable to be those that achieve the best capital growth rates.

Vacancy Rate – 3.4% (Berlin Average 4.5%)

Rental levels – 5.85 – 6.15 Eur per Sqm (Berlin Average 6.25 – 6.40 Eur)

Unemployment – 11.5% (Berlin Average 13.6%)

Rental demand for new letting – trend upward

Afford ability of rent (% of net income) – 25.7% (Berlin average 26.6%)

Steglitz-Zehlendorf

The growing popularity of the southern districts of Berlin has seen good property price growth in this part of Berlin.

U9 underground, S1 and S25 city-trains connect Steglitz to the city centre. Car drivers reach downtown as fast as Berlin’s surroundings via Schlossstraße, and on its south-west extension “Unter den Eichen” to Berlin’s surroundings. Tempelhof airport is close.

Steglitz’ mixture of close-to-centre quarters, exclusive residential areas, suburbs and green is typical for Berlin’s South. The district’s axis is the Schlossstraße, one of the city’s major shopping avenues. Around the clinker building of the old and the tower block of the new townhall there is an independent, vital centre with restaurants, cinemas and the Schlossparktheater; the sightseeings like the pretty Wrangelschloss palace with its small park, nowadays used for cultural events, concentrate here. The Botanical Garden, home of more than 20,000 different species, hosts exotic plants within its big glass greenhouses also in the wintertime. Parts of the bourgeois, urban Friedenau (see also Schöneberg) belong to Steglitz. In the South there is Lichterfelde with its city mansions from the 19th century, whereas the district’s West is coined by the Freie Universität.

Zehlendorf, Berlin’s classical exclusive residential area, allures the metropolitans to summer resorts like Wannsee lake and Grunewald forest – there’s hardly any Berliner who does not dream of a comfortable mansion in Berlin’s most genteel district with its scenic landscape on the Havel river. The opportunity to sightsee an especially beautiful villa is provided by a visit to the Literarisches Colloquium Berlin on the Wannsee shore, where writers of international rank are hosted regularly. The glamour of past times can be felt in the Max-Liebermann-Villa at the Wannsee, where the famous painter lived until his death in 1935.

With the borough’s bordering Steglitz-Zehlendorf doing particularly well it is expected that this positive bias in the south will also extend into the borough. The “Green” factor also helps make it an attractive area for families and outside of a small area in the Lichterfelde district which has a concentration of high-rise developments the positive local environment enjoyed through most of the borough is a constant positive influence.

As the borough with the highest “Owner Occupancy” rate in Berlin with nearly 25 % it is one of a group of four boroughs (Steglitz-Zehlendorf, Reinickendorf, Treptow-Köpenick and Marzahn-Hellersdorf) which have noticeably higher owner occupancy rates than elsewhere in the city. The common geographic locations of these four boroughs, stretching out to the rural periphery of the city boundaries, is indicative of the tendency for higher owner occupancy rates in more rural neighbourhoods which have higher levels of single family properties.
With a low ratio of property price to income the borough has the potential to increase the rate of owner occupancy and see an increase in the premium on property values that these higher rates generally can lead to in an area.

Vacancy Rate – 2.9% (Berlin Average 4.5%)

Rental levels – 6.65 – 7.1 Eur per Sqm (Berlin Average 6.25 – 6.40 Eur)

Unemployment – 9.6% (Berlin Average 13.6%)

Rental demand for new letting – trend upward

Afford ability of rent (% of net income) – 23.8% (Berlin average 26.6%)

Friedrichshain-Kreuzberg

If you like places with rather austere charm where style isn’t so important and prices are rock bottom, Friedrichshain is just the right district for you.

In the old working-class district south of Karl-Marx-Allee you discover a nice neighbourhood. Lots of students have moved in here since 1991 or simply transferred over the Spree from Kreuzberg because rents in the old houses were quite low.

Wilmersdorf is an area of Berlin, formerly a borough but since 2001 part of Charlottenburg-Wilmersdorf. The Kurfürstendamm runs through the area. Wilmersdorf was a village near Berlin (Deutsch-Wilmersdorf) and was made a part of “Greater Berlin” in 1920. The borough with the name of Wilmersdorf included also the areas of Halensee, Schmargendorf and Grunewald.
Right by the Oberbaumbrücke, which offers a wonderful view across the Spree on both sides, is East Side Gallery, the longest remaining section of the Berlin Wall (more than 1 km long).

The artworks were created immediately after German unification – this is a piece of wall that was never painted in communist times. Here on Spreeufer is Speicher, an American-inspired amusement complex with discos and bars on 4 floors. A bit further to the east, directly under Warschauer Straße S-Bahn station, dance fans can swing a leg in Matrix. Around the corner you can relax wonderfully after all that running around in the living-room atmosphere of Karel Duba. Just a few steps away is Non Tox, where the weekend parties are full of subversive musical contrasts.

In recent years, Kreuzberg has become a fashionable area but has not lost its bohemian feel. Kreuzberg’s multi-cultural life is a particular feature of the city’s most populous district, once a melting pot of different nationalities, groups on the fringes of society, and the alternative scene when Berlin was a divided city. When the Berlin Wall fell, the area suddenly found itself in the geographical centre of Berlin and its proximity to the upmarket Mitte district brought the advent of fashionable restaurants and cocktail bars. No other part of Berlin is so multicultural. Here, people live together from over 180 countries. Es There is not only a large Turkish population, but also many creative people and intellectuals, and those who think they are. They live here because of Kreuzberg residential neighborhoods are still relatively inexpensive. . Still, as more and more beams in terms of real estate from the hip and the adjacent district of Mitte.
There are major restoration works under way in Friedrichshain which is developing at a fast pace but it still has large areas of vacant brown-field development space.

Friedrichshain shows a wider rent spread than any other borough in Berlin. It is an area with a young low income population which makes it liable to more dramatic changes in rent and sales prices which are currently low and have seen minimal change. An area to benefit more as other regions reach full occupancy and mitte prices increase. Friedrichshain is home to numerous design and media companies including MTV Central Europe. It is known for its many bars, clubs, pubs, and cafes, concentrated in the vicinity of Simon-Dach-Straße and Boxhagener Platz. While Friedrichshain was in East Berlin following re-unification there was a migration of the “Squat” culture into Friedrichshain, particularly around Rigaer Straße.

Vacancy Rate – 3.6% (Berlin Average 4.5%)

Rental levels – 6.4 – 6.75 Eur per Sqm (Berlin Average 6.25 – 6.40 Eur)

Unemployment – 16.7% (Berlin Average 13.6%)

Rental demand for new letting – trend upwards

Afford ability of rent (% of net income) – 33.9% (Berlin average 26.6%)

Neukölln

Economically Neukölln is still suffering from high unemployment with one of the highest rates in Berlin and one of the lowest income levels.

U8 underground connects Neukölln with the city centre, the ring train (S41/42) with the western and eastern districts; U7 opens up the whole district up to the city border in the South. The northern part of Neukölln is dominated by well-preserved and populous old building quaters and resembles in many ways the neighbouring Kreuzberg. One of Berlin’s most vivid squares is Hermannplatz which is adjoined by Karl-Marx-Straße, a popular shopping avenue. Here you also will find Germany’s probably most unconventional opera house, the Neuköllner Oper. Just a few steps ahead is Rixdorf, one of the most beautiful and relaxed downtown old-building-quarters. Rixdorf also hosts a gem of urban history: the Böhmisches Dorf (Bohemian village) around Richardplatz. Amidst of the metropolis the character of this village has been preserved in an over 250 years old architecture, crowned by the legendary and still economically successfully run forge in the middle of the square. Neukölln’s southside is completely different: canals and waterways, the castle Britz, the beautiful Garden of Britz (Britzer Garten, location of the National Garden Exhibition of 1985) and remote one-family-house settlements can be found here. The Hufeisensiedlung (“horseshoe settlement”) of Bruno Taut in Britz is well known by fanciers of architecture.
Overall population levels in the borough are probably stationary or dropping very slightly mainly driven by migration to other boroughs by the upwardly mobile residents of the borough.

The recent increases in property prices while rents have remained static show investors have been steadily buying into the property market here as investors are forced to accept lower rental yield. The owner occupancy rate, which is probably highest in the outlying districts, should help maintain prices in these areas.

Vacancy Rate – 4.8% (Berlin Average 4.5%)

Rental levels – 5.1- 5.3 Eur per Sqm (Berlin Average 6.25 – 6.40 Eur)

Unemployment – 18.7% (Berlin Average 13.6%)

Rental demand for new letting – trend downward

Afford ability of rent (% of net income) – 20.8% (Berlin average 26.6%)