Rents and purchase prices for apartments in Berlin significantly increased once again in the past year. CBRE and Berlin Hyp registered an increase of 5.6% to €9.00/sqm for quoted rents in their latest Housing Market Report. Prices for condominiums rose by 9.6% and for apartment buildings as much as 15.7%. It is also noteworthy in the report that the number of planned apartments increased significantly and is currently at 32,240 (2015: 22,270). The number of development projects, however, increased only slightly from 240 to 247. Moreover, the number of new construction units for rental apartments exceeds construction of new condominiums at a ratio of 14,000 to 13,700. In terms of rents and purchase prices, there is “still room to grow”, says Henrik Baumunk, Head of Residential Services at CBRE.
Source: TD International