Property Investment in Pankow

Pankow is growing and growing fast.

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.