REAL ESTATE MARKET IN BERLIN
Prediction of the real estate market in Berlin – The real estate market in Berlin is currently causing a little confusion. Prices are rising in some districts and falling in others. Here is a detailed summary of the current market in Berlin.
Real estate has always been one of the safest investments. With Corona and inflation uncertainties have spread on the real estate market. In addition, Pay taxes at banks have also risen during corona. As a consequence: high sales prices. As an investor the question arises as to whether such an investment is worthwhile. The market has since stabilized again. Nevertheless I would like to offer you a detailed insight so you can make your own calculations.
Market Analysis
The current real estate market in Berlin shows a mixed development. While property prices have fallen slightly in some districts, they have remained stable or even risen in others. For example, prices for existing properties in Mitte have fallen by around 3.4%, while prices in Moabit have risen by around 1.8%.
The average purchase price for condominiums in Berlin is currently around €5,848/sqm, with new builds being more expensive on average than existing properties. The average asking price for new builds is €8,540/sqm. In contrast, the average price for existing properties is €5,410/sqm.
The current rent index also shows large differences depending on location, year of construction and size. The average rent in Berlin is currently €14.86 per square meter. The Tiergarten district, for example, is well above the general average at EUR 20.51 per square meter. Compared to the previous quarter, however, rents in Tiergarten have fallen by 1.49%. In Schöneberg, on the other hand, rents have risen by 1.56%, meaning that the average rent there is now EUR 19.49 per square meter. In general, purchase and rental prices for new buildings are almost twice as high as for existing properties. Overall, however, it can be said that rental prices have risen slightly compared to the previous quarter.
The coronavirus pandemic also had a significant impact on the real estate market in Berlin. At the beginning of the pandemic, prices continued to rise as many people invested in real estate as a safe investment. However, the market has since cooled somewhat, partly due to increased construction costs and economic uncertainties.
Conclusion - Is it worth investing in the real estate market at the moment?
In summary the Berlin real estate market remains dynamic, but faces some uncertainties. In the long term demand for housing remains very high, which supports a positive outlook for investment in the real estate market. In addition, it is important to note that there are fixed residential prices per square meter. Prices vary depending on the district. To get around this rent limit, more and more owners are renting out their properties furnished. The law does not apply here. As you can see, the real estate market in Berlin is very colorful and differentiated on several levels. Nevertheless, it can be said in conclusion that it is still worth investing in the real estate market.
FIND THE FURNISHED APARTMENT THAT MEETS YOUR NEEDS
FIND THE FURNISHED APARTMENT THAT MEETS YOUR NEEDS
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