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Berlin is an international city of choices and contrasts, elements which are also reflected in its urban real estate market. Offering a mix of residential areas, parks, recreational areas and a variety of cultural experiences, those looking for apartments in Berlin for students, or perhaps wishing to buy an apartment in Berlin, will find plenty of attractive opportunities to ponder. Whether you are looking for apartments in central Berlin, or prefer to source more affordable apartments in Berlin, you will discover that the majority of buyers in the market also much prefer to buy an apartment in Berlin – which is the primary reason for the focus of this guide.
The average cost of apartments in central Berlin remains moderate in comparison to the markets in London, Paris and New York. And while city districts like Prenzlauer Berg or Kreuzberg may now represent fairly costly options, other locations like Neukölln and Moabit have plenty of potential to offer. Even where prices are stronger, broadening your search to include a few more streets can still unearth some surprising value-for-money choices.
If you are looking at apartments in Berlin, the services of a good real estate agent and mortgage broker will be invaluable. While your real estate agent will help you decide your potential budget and preferred location, your mortgage broker will help you find the bank offering the most favourable mortgage terms. In addition, you will also acquire a financing certificate which will significantly boost your chances of securing your chosen apartment in Berlin. Potential homebuyers should also remember to factor in the additional purchase costs associated with buying apartments in Berlin. Beyond the purchase price of your apartment, these include items such as: property tax, real estate commission, land registry fees and the cost of hiring a notary. In Berlin, this can add a further 11.57% to your purchase costs. However, new-build apartments are often sold with no real-estate intermediary, potentially cutting your purchase fees to just 8%.
In Berlin, only 20% of the city’s population are homeowners. Nevertheless, occupancy rates are extremely high. So with population growth running at around 50,000 per annum, owners of apartments in Berlin can access a vast pool of potential tenants. Though all kinds of accommodation are available, it’s small and medium-size properties – in other words, more affordable apartments in Berlin – which seem to generate the strongest and most sustained demand. Elsewhere, it tends to be up-and-coming districts like Neukölln (now full of entrepreneurs, blossoming businesses, creatives and other aspiring young professionals) which capture the attention of today’s buy-to-let investors. Prices in such areas can be significantly cheaper, thus maximizing the potential return on your investment.
Finding an apartment in Berlin is firstly a matter of considering your range of options: Trendy areas in the east of the city include the districts of Prenzlauer Berg, Mitte and Friedrichshain. The upmarket areas in the west are places like Wilmersdorf, Charlottenburg and Schöneberg. The south of the city offers some desirable alternative locations to buy an apartment in Berlin, in areas such as Neukölln and Kreuzberg. However, for those seeking affordable apartments in Berlin, the north Berlin districts of Tiergarten, Moabit and Wedding could prove to be the most budget-friendly choices.
With our extensive expertise and in-depth knowledge of the real estate market in Germany’s capital, we are as professional as we are customer-oriented when it comes to helping you buy an apartment and find your new home. Our portfolio of attractive properties in and around Berlin includes apartments in older buildings as well as newly constructed buildings and rented properties. Here you will find attractive residential property in sought-after districts such as Kreuzberg, Mitte, Tiergarten, Charlottenburg, Wilmersdorf or Weißensee. Benefit from our know-how and discover the best locations in the German capital.
Even if you are looking for luxury real estate in Berlin, you will discover an extensive portfolio of offers with us, ranging from a generously cut attic apartment with its own terrace to a single-family home with a garden. Our expert brokers are at your disposal through every step of the buying process, from assisting you with the search for the perfect property to answering any questions you might have after the sale is finalized. We will also be happy to advise you on all questions regarding the right financing for your real estate purchase in Berlin.