Property Investment Regions in Berlin

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%)