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Blog | 21. February 2017

DIAMONA & HARNISCH’s BLOG

STRONG BUSINESS LOCATION, ATTRACTIVE METROPOLIS

Berlin is an incredibly popular tourist destination – the number of holidaymakers is constantly on the rise and has now reached twelve million per year. More than ever before, Germany’s capital is an attractive destination for international guests – around 4.6 million overseas visitors came to the city last year to gain firsthand experience of Berlin’s vibrancy and color and its multi-facetted cultural offerings. In addition to these tourists, more and more people are also coming to Berlin to make the city their new home. The population of Germany’s largest city has risen to 3.52 million – roughly 150,000 more than just five years ago.

BERLIN IS GERMANY’S OFFICE CAPITAL

It’s not only a great place to live, there are more and more jobs in Berlin too. The city’s economy has been delivering strong growth for a number of years now. For the fourth quarter in a row, the Spree metropolis defended its crown as Germany’s most popular office market. Neither Munich, nor Hamburg or Frankfurt am Main were able to wrestle the title from Berlin. BNP Paribas Real Estate recently announced that a total of just under 840,000 square meters of office space was let in the city in 2016. Not even the Bavarian capital, Munich, managed to match this impressive total, and had to settle for a full-year total of less than 800,000 square meters; Frankfurt and Hamburg didn’t even manage to top 600,000 square meters.

The strong demand for commercial property reflects the growing importance of Berlin as an economic motor. According to Colliers International, transactions involving commercial real estate in Berlin totaled EUR 4.9 billion in 2016. This placed Berlin third in the national rankings, trailing Munich (EUR 6.86 billion) and hot on the heels of Hamburg (EUR 4.91 billion).

Berlin’s ascension has been underway for years – more tourists, more inhabitants, more businesses. The amount of available on Berlin’s office market has become steadily scarcer. In comparison with the previous year, the volume of office space available at short notice fell by almost one third. According to BNP, the office vacancy rate has dropped to just 2.8 percent. The most drastic declines in vacancies were registered in Berlin’s central districts. This is where large numbers of people want to combine both living and working. Offices, apartments, schools, bars, restaurants and shops – Berliners love their neighborhoods because they provide every convenience of a booming metropolis within easy reach.

RESIDENTIAL REAL ESTATE ON THE SPREE IS A SAFE INVESTMENT

As a result, the housing market is becoming ever tighter. A recent analysis from Aengevelt estimated that roughly 248,000 new residential units need to be built by 2030. This means that 17,500 new apartments must be developed every single year. Unfortunately, this total has only ever been achieved in one year, namely 2016. Over the last ten years, an average of 5,000 new apartments have come to market. This is nowhere near enough to meet the rapid growth in demand. The latest population forecasts from Berlin’s Senate Department for Urban Development and the Environment predict that the city’s population will increase to four million by 2030, excluding refugees. Housing will become an even more scarce commodity. Anyone who buys an apartment in Berlin right now will certainly be sitting pretty – especially given the historically low interest rates.

Buying an apartment is well worth it, especially as rental prices will continue to increase. Berliners are already paying seven to eight per cent more in rent each time they move, the local Tenants’ Association has reported. And that’s not set to change this year – the shortage of available housing will see to that. As a result, citizens and business representatives are demanding more and quicker building permits, increased housing density in central urban districts, and additional investment in IT infrastructure to support the city’s businesses. Christian Wiesenhütter, boss of Berlin’s Chamber of Commerce, says that Berlin is, “Number one for job growth,” not least because of its booming IT sector, and that “The chances of finding a job in Germany’s capital city are good and demand for skilled workers is higher than ever before.” And long may it continue.
... See MoreSee Less

4 days ago  ·  

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GOING GLOBAL: FOREIGN INVESTORS TARGET BERLIN’S PREMIUM REAL ESTATE

Whether the new residential quarter at Leipziger Platz, the Palais Theising at the Brandenburg Gate or the exceptional project "Sapphire" on Chausseestraße – Berlin can also do luxury. In the past few years, more and more apartments have been created for more sophisticated buyers. Interest in exclusive objects is growing steadily. In the first six months of 2016 alone, the demand for exceptional properties has risen by a whopping 14 percent, according to an evaluation by the portal LuxuryEstate.com. This makes Berlin Germany's largest market for premium residential properties (evaluation of the online portal LuxuryEstate.com).

CAPITAL GAINS VS. INITIAL YIELDS

Especially foreign investors have discovered Berlin for themselves. They come from Turkey, the Arab Emirates and the USA. The share of US-American buyers in the first half-year of 2016 rose by eleven percent compared to the previous year’s period. In contrast to many institutional investors, these private buyers have long since bid farewell to excessive yield expectations, and now accept three percent instead of five. There are others things that are more important than the initial return: the prospect of long-term capital gains, security, and a stable economic environment in times of volatile international markets. And that is exactly what Berlin premium properties offer.

LONDON, PARIS, NEW YORK − AND BERLIN

Some premium residential properties sell for more than three times the average market price, the brokerages report. At the top end of the market, buyers were already paying up to EUR 19,000 per square meter as early as 2015. The most expensive apartment changed owners for |EUR 4.3 million. In the "Sapphire" development from the US star architect Daniel Libeskind, which was completed in 2016, the recommended price for the most luxurious apartments started at EUR 15,000 per square meter. Market observers are therefore certain: Berlin has long played in the top league, alongside London, Paris and New York – without having reached the same price level. In these metropolises, buyers sometimes pay three times as much for an equivalent property. Advantage Berlin: On the Spree, there is still much potential for value growth.

In addition to the district of Berlin-Mitte, sophisticated buyers have been able to find what they are looking for in Charlottenburg-Wilmersdorf and Friedrichshain-Kreuzberg. For a luxury object with future-oriented prospects simply everything must be right. 1A-location, central and yet quiet, maybe a park view, modern architecture, generous room sizes, high ceilings, quality finishes, chic details, such as a dressing rooms, underground parking and an elevator directly into the apartment.
... See MoreSee Less

3 weeks ago  ·  

View on Facebook

BERLIN’S SOUTHWEST – IN THE MIDST OF NATURE, IN THE MIDST OF THE CITY

Steglitz, Zehlendorf, Dahlem – The southwest of Berlin is among the top locations in the city. Upscale flair, waterways and green areas, chic homes and stylish villas on park-like grounds dominate this part of Berlin. And yet the hustle and bustle of the city is only ten minutes away by subway, which makes it an expensive place to live. While rents and residential property prices have risen dramatically, especially in Berlin-Mitte, the city’s southwest districts are now catching up. Rents in good locations range between EUR 14 and 16/sqm per month; detached and semi-detached houses sold for an average of EUR 575,000 in 2016. Even in less desirable locations, such as near large traffic intersections, prices of almost EUR 400,000 are to be expected, according to the IVD real estate association. Thus Steglitz-Zehlendorf is Berlin’s second most expensive district after Charlottenburg-Wilmersdorf.

The popularity boom in the southwest of Berlin is mainly due to the fact that more and more condominiums are being built here. Where aging detached and semi-detached houses or single villas once dominated the cityscape, today, the district’s development land is used to create high-quality housing to accommodate the growing number of inhabitants. The consequence: A noticeable upsurge in prices. In Dahlem, the square meter price reached EUR 6,200 last year. In comparison, an average of EUR 3,200/sqm is the current norm in Berlin.

CHINESE INVESTORS ARE ATTRACTED TO DAHLEM, STEGLITZ AND ZEHLENDORF

This development is bringing more and more investors on board. And, for some time now, they have not just been coming from Berlin or the rest of Germany. Asian investors in particular have discovered the capital for themselves, Chinese investors are the second largest buyers of residential property after the Americans and the Russians. In October alone, the largest Chinese sovereign wealth fund invested EUR 1.2 billion in Germany – 40 per cent of the 16,000 apartments are located in the metropolis on the Spree.

Private Chinese investors are also flocking to Berlin, which is regarded as “Europe’s new capital of investment” in China (Info: China correspondent for German newspaper, taz). Transparent structures, economic stability and a favorable exchange rate have earned Berlin this title over the past few years. With average purchase prices between EUR 2,500 and 4,000, property is also affordable by Chinese standards. In Peking a condominium costs more than twice as much. Since Chinese people are allowed to have only one home in their home country, several families sometimes pool their resources to raise enough money to purchase larger properties, market observers report.

LARGE APARTMENTS FOR RENT

Above all, Chinese private investors appreciate large apartments, which in most cases they do not use themselves, but prefer to rent out. On average, they will pay around EUR 500,000 for such a property. In their search for suitable luxury properties, they are focussing ever more on Berlin’s southwest. Dahlem is especially popular because it has the district’s largest apartments, averaging 105 square meters.
... See MoreSee Less

4 weeks ago  ·  

View on Facebook

GROWING NUMBERS OF FOREIGN INVESTORS ARE BUYING RESIDENTIAL REAL ESTATE IN BERLIN

Berlin has become one of the most attractive investment destinations in all of Germany. And it has done so in the space of just a few years. Foreign investors have long been casting interested eyes over the city on the Spree. Which is not at all surprising, for things are looking very good in Berlin: The population is growing, the economy is ticking along nicely, and the real estate market is booming. For the coming year, the Berlin Investment Bank (IBB) has forecast that the German capital’s economy will grow by 2.2 percent – which will make this the fourth year of above-average growth in a row. The forecasts for Germany as a whole indicate growth of just around one percent.

BRIGHT PROSPECTS

The IBB’s economic analysts predict that employment will grow at an even faster pace than Berlin’s economy, with 3.2 percent more jobs in the city by the end of this year. (For Germany, jobs are forecast to increase by just 1.5 percent.) Over the last three years, a total of 130,000 new jobs have been created in Berlin; during 2017 the number of jobs subject to full-time jobs could well increase by a further 30,000 to 40,000. This jobs growth is largely being driven by the huge number of new start-ups and young companies who have made Berlin their home. According to a study from the Institute for Strategy Development, start-ups are now the city’s fifth biggest employer – ahead of Siemens, Deutsche Telekom and Daimler. In the first six months of 2016 alone, EUR 957 million of venture capital flooded into the Berlin’s start-up scene.

INTERNATIONAL CAPITAL FLOWS INTO BERLIN

It has been some time since investors discovered Berlin’s real estate markets: During 2016 initial figures indicate that around EUR 6 billion of investment was pumped into commercial real estate in Berlin. By spring 2016, the investment total had already exceeded EUR 2 billion. And 74 percent of these investors were foreign investors – more than in any other major German city. Residential real estate has also risen up international investors’ agendas, which is entirely understandable given the growing demand for housing in Berlin, the natural consequence of the city’s sustained population growth. Investors certainly appreciate the opportunity to combine low investment risks with stable yields.

TOP DOG FOR ONLINE RESIDENTIAL REAL ESTATE LISTINGS

More and more frequently it is the international middle-classes from Asia, the Middle East and the USA who are interested in buying condominiums in Berlin. The highest demand is for upmarket apartments costing EUR 4,000 per square meter and more. Market observers are certain that the United Kingdom’s planned exit from the European Union will drive demand for residential real estate even higher. Private and institutional investors who have previously focused their investments on London are set to step up their activities in Germany. And it goes without saying that Berlin’s real estate market will be one of the biggest winners fro such a shift, especially as the German capital is already top dog when it comes to online real estate listings – which means that foreign buyers who are searching online for residential real estate in Germany are most likely to find what they are looking for in Berlin.
... See MoreSee Less

2 months ago  ·  

View on Facebook

BERLIN’S EVOLVING NEIGHBORHOODS

Like no other city in Germany, Berlin stands for revolution and evolution, and for the juxtaposition of opposites. For a long time these have been an inherent part of the city’s topography – after all, for decades the Spree metropolis was divided into East and West by the Wall. Today, there is not that much left to remind us of this fact. The Wall was torn down, the city’s districts are now growing together, and the last strips of no man’s land in the inner-city are being developed to construct new apartments, which are still in very short supply in Berlin.

OPPORTUNITIES FOR APARTMENT BUYERS

The quarter between Potsdamer Straße, Bülowstraße and Schöneberger Ufer is a perfect example. This is an outstanding downtown location – just a stone’s throw from Potsdamer Platz, Friedrichstraße and Kuʼdamm, and home to large numbers of companies, associations and charitable foundations, and the workplace of thousands of Berliners. Right now, 550 new apartments are being developed, along with countless restaurants, cafés and shops. Many of the new apartments are condominiums and, given their location close to central Berlin, they are of great interest to both owner-occupiers and investors.

CENTRAL LOCATION, SOPHISTICATED AMENITIES

Here, on an undeveloped site at the junction of Kurfürstenstraße and Else-Lasker-Schüler-Straße, “Carré Voltaire” is currently under construction. At a cost of EUR 58 million, 127 exclusive condominiums are being developed, offering a total of 12,000 square meters of living space across eight storeys. In addition, the development includes 200 square meters of commercial space, which has been earmarked for a café and retail boutique, and an underground parking facility with approximately 88 double-width parking spaces, a charging station for electric vehicles and E-Bikes, and storage space for 180 bicycles. The one- to five-room apartments will cost between EUR 4,200 and 7,400 per square meter.

Construction is well underway in many other parts of the neighborhood. In Tiergarten-Süd, on the furniture store car park on the corner of Genthiner and Kurfürstenstraße, 170 apartments and an organic supermarket are being built. At Genthiner Straße 40, 113 apartments and 1,950 square meters of commercial space are being developed in a chic, industrial-loft style. And between Genthiner and Derfflingerstraße, 88 apartments, in combination with space for start-ups and creative companies is planned. The new development has been designed to offer a mix of compact rental units and condominiums. The apartments are available for purchase from EUR 4,500 per square meter.
... See MoreSee Less

2 months ago  ·  

View on Facebook
 
Blog | 21. February 2017

DIAMONA & HARNISCH’s BLOG

STRONG BUSINESS LOCATION, ATTRACTIVE METROPOLIS

Berlin is an incredibly popular tourist destination – the number of holidaymakers is constantly on the rise and has now reached twelve million per year. More than ever before, Germany’s capital is an attractive destination for international guests – around 4.6 million overseas visitors came to the city last year to gain firsthand experience of Berlin’s vibrancy and color and its multi-facetted cultural offerings. In addition to these tourists, more and more people are also coming to Berlin to make the city their new home. The population of Germany’s largest city has risen to 3.52 million – roughly 150,000 more than just five years ago.

BERLIN IS GERMANY’S OFFICE CAPITAL

It’s not only a great place to live, there are more and more jobs in Berlin too. The city’s economy has been delivering strong growth for a number of years now. For the fourth quarter in a row, the Spree metropolis defended its crown as Germany’s most popular office market. Neither Munich, nor Hamburg or Frankfurt am Main were able to wrestle the title from Berlin. BNP Paribas Real Estate recently announced that a total of just under 840,000 square meters of office space was let in the city in 2016. Not even the Bavarian capital, Munich, managed to match this impressive total, and had to settle for a full-year total of less than 800,000 square meters; Frankfurt and Hamburg didn’t even manage to top 600,000 square meters.

The strong demand for commercial property reflects the growing importance of Berlin as an economic motor. According to Colliers International, transactions involving commercial real estate in Berlin totaled EUR 4.9 billion in 2016. This placed Berlin third in the national rankings, trailing Munich (EUR 6.86 billion) and hot on the heels of Hamburg (EUR 4.91 billion).

Berlin’s ascension has been underway for years – more tourists, more inhabitants, more businesses. The amount of available on Berlin’s office market has become steadily scarcer. In comparison with the previous year, the volume of office space available at short notice fell by almost one third. According to BNP, the office vacancy rate has dropped to just 2.8 percent. The most drastic declines in vacancies were registered in Berlin’s central districts. This is where large numbers of people want to combine both living and working. Offices, apartments, schools, bars, restaurants and shops – Berliners love their neighborhoods because they provide every convenience of a booming metropolis within easy reach.

RESIDENTIAL REAL ESTATE ON THE SPREE IS A SAFE INVESTMENT

As a result, the housing market is becoming ever tighter. A recent analysis from Aengevelt estimated that roughly 248,000 new residential units need to be built by 2030. This means that 17,500 new apartments must be developed every single year. Unfortunately, this total has only ever been achieved in one year, namely 2016. Over the last ten years, an average of 5,000 new apartments have come to market. This is nowhere near enough to meet the rapid growth in demand. The latest population forecasts from Berlin’s Senate Department for Urban Development and the Environment predict that the city’s population will increase to four million by 2030, excluding refugees. Housing will become an even more scarce commodity. Anyone who buys an apartment in Berlin right now will certainly be sitting pretty – especially given the historically low interest rates.

Buying an apartment is well worth it, especially as rental prices will continue to increase. Berliners are already paying seven to eight per cent more in rent each time they move, the local Tenants’ Association has reported. And that’s not set to change this year – the shortage of available housing will see to that. As a result, citizens and business representatives are demanding more and quicker building permits, increased housing density in central urban districts, and additional investment in IT infrastructure to support the city’s businesses. Christian Wiesenhütter, boss of Berlin’s Chamber of Commerce, says that Berlin is, “Number one for job growth,” not least because of its booming IT sector, and that “The chances of finding a job in Germany’s capital city are good and demand for skilled workers is higher than ever before.” And long may it continue.
... See MoreSee Less

4 days ago  ·  

View on Facebook

GOING GLOBAL: FOREIGN INVESTORS TARGET BERLIN’S PREMIUM REAL ESTATE

Whether the new residential quarter at Leipziger Platz, the Palais Theising at the Brandenburg Gate or the exceptional project "Sapphire" on Chausseestraße – Berlin can also do luxury. In the past few years, more and more apartments have been created for more sophisticated buyers. Interest in exclusive objects is growing steadily. In the first six months of 2016 alone, the demand for exceptional properties has risen by a whopping 14 percent, according to an evaluation by the portal LuxuryEstate.com. This makes Berlin Germany's largest market for premium residential properties (evaluation of the online portal LuxuryEstate.com).

CAPITAL GAINS VS. INITIAL YIELDS

Especially foreign investors have discovered Berlin for themselves. They come from Turkey, the Arab Emirates and the USA. The share of US-American buyers in the first half-year of 2016 rose by eleven percent compared to the previous year’s period. In contrast to many institutional investors, these private buyers have long since bid farewell to excessive yield expectations, and now accept three percent instead of five. There are others things that are more important than the initial return: the prospect of long-term capital gains, security, and a stable economic environment in times of volatile international markets. And that is exactly what Berlin premium properties offer.

LONDON, PARIS, NEW YORK − AND BERLIN

Some premium residential properties sell for more than three times the average market price, the brokerages report. At the top end of the market, buyers were already paying up to EUR 19,000 per square meter as early as 2015. The most expensive apartment changed owners for |EUR 4.3 million. In the "Sapphire" development from the US star architect Daniel Libeskind, which was completed in 2016, the recommended price for the most luxurious apartments started at EUR 15,000 per square meter. Market observers are therefore certain: Berlin has long played in the top league, alongside London, Paris and New York – without having reached the same price level. In these metropolises, buyers sometimes pay three times as much for an equivalent property. Advantage Berlin: On the Spree, there is still much potential for value growth.

In addition to the district of Berlin-Mitte, sophisticated buyers have been able to find what they are looking for in Charlottenburg-Wilmersdorf and Friedrichshain-Kreuzberg. For a luxury object with future-oriented prospects simply everything must be right. 1A-location, central and yet quiet, maybe a park view, modern architecture, generous room sizes, high ceilings, quality finishes, chic details, such as a dressing rooms, underground parking and an elevator directly into the apartment.
... See MoreSee Less

3 weeks ago  ·  

View on Facebook

BERLIN’S SOUTHWEST – IN THE MIDST OF NATURE, IN THE MIDST OF THE CITY

Steglitz, Zehlendorf, Dahlem – The southwest of Berlin is among the top locations in the city. Upscale flair, waterways and green areas, chic homes and stylish villas on park-like grounds dominate this part of Berlin. And yet the hustle and bustle of the city is only ten minutes away by subway, which makes it an expensive place to live. While rents and residential property prices have risen dramatically, especially in Berlin-Mitte, the city’s southwest districts are now catching up. Rents in good locations range between EUR 14 and 16/sqm per month; detached and semi-detached houses sold for an average of EUR 575,000 in 2016. Even in less desirable locations, such as near large traffic intersections, prices of almost EUR 400,000 are to be expected, according to the IVD real estate association. Thus Steglitz-Zehlendorf is Berlin’s second most expensive district after Charlottenburg-Wilmersdorf.

The popularity boom in the southwest of Berlin is mainly due to the fact that more and more condominiums are being built here. Where aging detached and semi-detached houses or single villas once dominated the cityscape, today, the district’s development land is used to create high-quality housing to accommodate the growing number of inhabitants. The consequence: A noticeable upsurge in prices. In Dahlem, the square meter price reached EUR 6,200 last year. In comparison, an average of EUR 3,200/sqm is the current norm in Berlin.

CHINESE INVESTORS ARE ATTRACTED TO DAHLEM, STEGLITZ AND ZEHLENDORF

This development is bringing more and more investors on board. And, for some time now, they have not just been coming from Berlin or the rest of Germany. Asian investors in particular have discovered the capital for themselves, Chinese investors are the second largest buyers of residential property after the Americans and the Russians. In October alone, the largest Chinese sovereign wealth fund invested EUR 1.2 billion in Germany – 40 per cent of the 16,000 apartments are located in the metropolis on the Spree.

Private Chinese investors are also flocking to Berlin, which is regarded as “Europe’s new capital of investment” in China (Info: China correspondent for German newspaper, taz). Transparent structures, economic stability and a favorable exchange rate have earned Berlin this title over the past few years. With average purchase prices between EUR 2,500 and 4,000, property is also affordable by Chinese standards. In Peking a condominium costs more than twice as much. Since Chinese people are allowed to have only one home in their home country, several families sometimes pool their resources to raise enough money to purchase larger properties, market observers report.

LARGE APARTMENTS FOR RENT

Above all, Chinese private investors appreciate large apartments, which in most cases they do not use themselves, but prefer to rent out. On average, they will pay around EUR 500,000 for such a property. In their search for suitable luxury properties, they are focussing ever more on Berlin’s southwest. Dahlem is especially popular because it has the district’s largest apartments, averaging 105 square meters.
... See MoreSee Less

4 weeks ago  ·  

View on Facebook

GROWING NUMBERS OF FOREIGN INVESTORS ARE BUYING RESIDENTIAL REAL ESTATE IN BERLIN

Berlin has become one of the most attractive investment destinations in all of Germany. And it has done so in the space of just a few years. Foreign investors have long been casting interested eyes over the city on the Spree. Which is not at all surprising, for things are looking very good in Berlin: The population is growing, the economy is ticking along nicely, and the real estate market is booming. For the coming year, the Berlin Investment Bank (IBB) has forecast that the German capital’s economy will grow by 2.2 percent – which will make this the fourth year of above-average growth in a row. The forecasts for Germany as a whole indicate growth of just around one percent.

BRIGHT PROSPECTS

The IBB’s economic analysts predict that employment will grow at an even faster pace than Berlin’s economy, with 3.2 percent more jobs in the city by the end of this year. (For Germany, jobs are forecast to increase by just 1.5 percent.) Over the last three years, a total of 130,000 new jobs have been created in Berlin; during 2017 the number of jobs subject to full-time jobs could well increase by a further 30,000 to 40,000. This jobs growth is largely being driven by the huge number of new start-ups and young companies who have made Berlin their home. According to a study from the Institute for Strategy Development, start-ups are now the city’s fifth biggest employer – ahead of Siemens, Deutsche Telekom and Daimler. In the first six months of 2016 alone, EUR 957 million of venture capital flooded into the Berlin’s start-up scene.

INTERNATIONAL CAPITAL FLOWS INTO BERLIN

It has been some time since investors discovered Berlin’s real estate markets: During 2016 initial figures indicate that around EUR 6 billion of investment was pumped into commercial real estate in Berlin. By spring 2016, the investment total had already exceeded EUR 2 billion. And 74 percent of these investors were foreign investors – more than in any other major German city. Residential real estate has also risen up international investors’ agendas, which is entirely understandable given the growing demand for housing in Berlin, the natural consequence of the city’s sustained population growth. Investors certainly appreciate the opportunity to combine low investment risks with stable yields.

TOP DOG FOR ONLINE RESIDENTIAL REAL ESTATE LISTINGS

More and more frequently it is the international middle-classes from Asia, the Middle East and the USA who are interested in buying condominiums in Berlin. The highest demand is for upmarket apartments costing EUR 4,000 per square meter and more. Market observers are certain that the United Kingdom’s planned exit from the European Union will drive demand for residential real estate even higher. Private and institutional investors who have previously focused their investments on London are set to step up their activities in Germany. And it goes without saying that Berlin’s real estate market will be one of the biggest winners fro such a shift, especially as the German capital is already top dog when it comes to online real estate listings – which means that foreign buyers who are searching online for residential real estate in Germany are most likely to find what they are looking for in Berlin.
... See MoreSee Less

2 months ago  ·  

View on Facebook

BERLIN’S EVOLVING NEIGHBORHOODS

Like no other city in Germany, Berlin stands for revolution and evolution, and for the juxtaposition of opposites. For a long time these have been an inherent part of the city’s topography – after all, for decades the Spree metropolis was divided into East and West by the Wall. Today, there is not that much left to remind us of this fact. The Wall was torn down, the city’s districts are now growing together, and the last strips of no man’s land in the inner-city are being developed to construct new apartments, which are still in very short supply in Berlin.

OPPORTUNITIES FOR APARTMENT BUYERS

The quarter between Potsdamer Straße, Bülowstraße and Schöneberger Ufer is a perfect example. This is an outstanding downtown location – just a stone’s throw from Potsdamer Platz, Friedrichstraße and Kuʼdamm, and home to large numbers of companies, associations and charitable foundations, and the workplace of thousands of Berliners. Right now, 550 new apartments are being developed, along with countless restaurants, cafés and shops. Many of the new apartments are condominiums and, given their location close to central Berlin, they are of great interest to both owner-occupiers and investors.

CENTRAL LOCATION, SOPHISTICATED AMENITIES

Here, on an undeveloped site at the junction of Kurfürstenstraße and Else-Lasker-Schüler-Straße, “Carré Voltaire” is currently under construction. At a cost of EUR 58 million, 127 exclusive condominiums are being developed, offering a total of 12,000 square meters of living space across eight storeys. In addition, the development includes 200 square meters of commercial space, which has been earmarked for a café and retail boutique, and an underground parking facility with approximately 88 double-width parking spaces, a charging station for electric vehicles and E-Bikes, and storage space for 180 bicycles. The one- to five-room apartments will cost between EUR 4,200 and 7,400 per square meter.

Construction is well underway in many other parts of the neighborhood. In Tiergarten-Süd, on the furniture store car park on the corner of Genthiner and Kurfürstenstraße, 170 apartments and an organic supermarket are being built. At Genthiner Straße 40, 113 apartments and 1,950 square meters of commercial space are being developed in a chic, industrial-loft style. And between Genthiner and Derfflingerstraße, 88 apartments, in combination with space for start-ups and creative companies is planned. The new development has been designed to offer a mix of compact rental units and condominiums. The apartments are available for purchase from EUR 4,500 per square meter.
... See MoreSee Less

2 months ago  ·  

View on Facebook

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© 2015 Diamona & Harnisch Development GmbH
Leipziger Platz 14 | 10117 Berlin | T. 030 89 38 46 0 | info@diamona-harnisch.com

Impressum & Haftungsausschluss