Why Invest in Historic Charm
Just as properties with waterfront locations are in strong demand, historic Altbau buildings have their own special appeal. With unique characteristics that constantly draw tenants to their charm, an apartment in these classic, historic buildings offers a reliable, long-term investment. Beautifully appointed, built to the highest standards, and limited in supply, this is an exceptional new chance to own a piece of old Berlin.
Dating from the mid-19th C. through to 1949, these elegant Altbau buildings are steeped in history and superbly built, down to the smallest detail. Thanks to their mix of class, comfort and quality, they are hugely in demand throughout the city centre, particularly those dating from the “Gründerzeit” of c.1870-1920.
With high ceilings, bay windows, stucco features and hardwood floors, it’s easy to see why Altbau buildings are so sought-after. Remnants of Berlin’s glamorous days, the light, airy apartments and their sophisticated yet understated style have been eagerly adopted by the city’s more recent waves of residents. The fact that so many are standing strong today is a testament to the sheer quality of their build.
Altbau apartments are a defining feature of many of the city’s most popular neighbourhoods. With Berlin’s 98% occupancy rate and steadily increasing population, demand for these apartments amongst renters is high and only set to rise further.
The government-protected status of these apartment buildings, as well as certain building legislations aimed at regulating urban development, have further shortened the supply of these apartments in Berlin’s property market. This scarcity is reflected in increasing prices in the most popular areas.
It is not only their aesthetic desirability which make them an attractive investment; there are many financial advantages to a classic Altbau apartment. Comparatively, they have a lower cost/sqm than new apartments, meaning an attractive low entry level price. This is coupled with the fact that rental prices for these buildings are rising faster than average. Additionally, despite these being older apartments, there are no hidden costs associated with renovation; many of the properties offered by Everestate have been refurbished to a suitable modern standard.