A modern apartment right in the city...or perhaps a classic home in a quiet, leafy neighborhood - Berlin has a home for every taste!
At an average of about 1,962 Euros per square meter, residential property in Berlin is affordable for a major city.
Since 1999, about 103,000 rental properties were converted to condominiums or another form of owner-occupied property. The boroughs of Pankow and Friedrichshain-Kreuzberg have led the charge on this front, while Spandau and Neukölln trail behind.
Single-family homes and semi-detached houses
There is a growing market for classic owner-occupied homes. About one out of ten residential buildings in Berlin is a single-family home or duplex. About 20 percent of these houses were built in the last decade. Between 2008 and 2009, prices for single-family homes and semi-detached houses remained nearly constant. In 2009, buyers paid 1,591 Euros per square meter compared to 1,604 Euros in 2008. According to the property market report for 2009/10, the average price for a single family home or duplex was 255,000 Euros. Semi-detached homes cost an average of 231,000 Euros and row houses cost 213,000 Euros. Homes in Grunewald have the highest home prices, followed by Charlottenburg, Wilmersdorf, Dahlem and Zehlendorf. Properties in Berlin's eastern boroughs are the most affordable.
Townhouses
More and more young people are moving to inner city neighborhoods upon completing their education. Attitudes about living in an inner-city environment are changing. A desire to unite work, life and recreation is fueling a growing demand for urban houses and modern city apartments. Berlin is responding to this demand with a number of new construction projects and urban developments. Prices for townhouses ranged from 285,000 to 540,000 Euros in 2009.
(Source: Immowelt.de, 2010; Der Tagesspiegel, May 6, 2010; Berliner Zeitung, July 29, 2010)
Finding the right property
Though hiring a property agent can make the search easier, using the classified listings of the major daily papers and the usual real estate portals on the web is also a convenient way to find a suitable property. The selection of houses and condominiums for sale includes dwellings of all price levels and at all locations.