Berlin property prices & real estate market trends


Looking to buy a property in Berlin?

First Citiz Team helps you to find the right apartment in a short time and assists you from A to Z with the purchase process.

Thinking to sell a property in Berlin?

First Citiz Team offers you a free property valuation and full professional management of the property sale process.


 

Interested in learning more about Berlin property prices and real estate market trends in the German capital? You are at the right place! Here you can find out all information you need about house prices development in Berlin:

  • Key information for understanding house prices per area
  • Berlin property market drivers
  • Berlin real estate market development in the last years
  • Real estate prices in Berlin’s central neighborhoods in 2022
Berlin property prices map - Most affordable & most expensive areas in Berlin
Most affordable & most expensive areas in Berlin*
Residential property prices in Berlin in 2022
How much is my property worth?
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The essential about Berlin property prices in 2022

The average offer price for apartments in Berlin in 2021 was 5388 EUR per square meter; 8,3% higher than 2020. 

This is only a price average and hide many disparities that can make some apartments 3-4 times more expensive than others.

Indeed, property prices in Berlin differs a lot with most regards to  the type of the property and the tenancy status. The regulation on rentals and the very high demand for housing made of the ready-to-move properties in Berlin the most sought-after, hence the most expensive on the market.  Below, you can learn about price ranges for apartments in central Berlin areas by mid 2022. 

  • Vacant period flats (regular): 5500 EUR/m2 to 8500 EUR/m2
  • Vacant period flats (upscale): 8500 EUR/m2 to 11000 EUR/m2
  • Off-plan new build apartments (regular) : from 8000 EUR/m2 to 12000 EUR/m2 
  • Off-plan new build apartments (upscale) : from 9500 EUR/m2 to 15-16000 EUR/m2 
  • Tenanted period apartments: from 3500 EUR/m2 to almost 6000 EUR/m2 

 

Selection of apartments for sale

10785 Berlin, Apartment for sale, Schöneberg

Near Ku’damm: brand new 3-room apartment with balcony

Berlin - Schöneberg
Rooms:
3
Property size:
83.01 m²
Usable area:
84.43 m²
Status:
vacant
Sale price:
989,485 EUR
10785 Berlin, Apartment for sale, Schöneberg

Central 2-room apartment with spacious balcony in the Nollendorfkiez

Berlin - Schöneberg
Rooms:
2
Property size:
69.29 m²
Usable area:
71.33 m²
Status:
vacant
Sale price:
800,580 EUR
10785 Berlin, Apartment for sale, Schöneberg

Ready to move: Sunny 2-bedroom family apartment with balcony in Schöneberg

Berlin - Schöneberg
Rooms:
3
Property size:
110.97 m²
Usable area:
114.58 m²
Status:
vacant
Sale price:
1,095,000 EUR
10245 Berlin, Penthouse apartment for sale, Friedrichshain
new

Bright 3-room attic penthouse with Spree views next to Mercedes-Benz Arena

Berlin - Friedrichshain
Rooms:
3
Property size:
58.25 m²
Status:
vacant
Sale price:
455,000 EUR
10785 Berlin, Apartment for sale, Schöneberg
new

Beautiful 3-room apartment with balcony near park Tiergarten

Berlin - Schöneberg
Rooms:
3
Property size:
82.93 m²
Usable area:
84.36 m²
Status:
vacant
Sale price:
906,444 EUR
10785 Berlin, Apartment for sale, Schöneberg

Brand-new 2-room apartment with spacious balcony near Ku’damm

Berlin - Schöneberg
Rooms:
2
Property size:
68.46 m²
Usable area:
70.44 m²
Status:
vacant
Sale price:
688,545 EUR
12053 Berlin, Apartment for sale, Neukölln

Charming 3-room apartment with spacious balcony in the heart of Neukölln

Berlin - Neukölln
Rooms:
3
Property size:
61.61 m²
Usable area:
63.63 m²
Status:
vacant
Sale price:
498,000 EUR
10785 Berlin, Ground floor apartment for sale, Schöneberg

Outstanding 3-room apartment with a terrace in the beating heart of Schöneberg

Berlin - Schöneberg
Rooms:
3
Property size:
85.17 m²
Usable area:
91.24 m²
Status:
vacant
Sale price:
881,688 EUR
10785 Berlin, Apartment for sale, Schöneberg

First-class 2-room apartment with a spacious balcony close to Ku’damm

Berlin - Schöneberg
Rooms:
2
Property size:
70.08 m²
Usable area:
72.06 m²
Status:
vacant
Sale price:
708,246 EUR
10785 Berlin, Ground floor apartment for sale, Schöneberg
new

Distinctive & luxury 2 bedroom apartment with terrace near Kurfürstendamm

Berlin - Schöneberg
Rooms:
3
Property size:
87.73 m²
Usable area:
90.58 m²
Status:
vacant
Sale price:
874,655 EUR
12157 Berlin, Apartment for sale, Steglitz
new

Top location in Steglitz: tenanted 4 rooms 2 balconies and high potential

Berlin - Steglitz
Rooms:
4
Property size:
105.71 m²
Status:
Tenanted
Sale price:
425,000 EUR
10245 Berlin, Penthouse apartment for sale, Friedrichshain

Cozy 3 room apartment with a view of the Spree near Warschauer Straße

Berlin - Friedrichshain
Rooms:
3
Property size:
58.25 m²
Status:
vacant
Sale price:
455,000 EUR

Find here the right property in Berlin

Stay updated about real estate prices in Berlin!

Berlin real estate market represents today a major international property market in Germany, Europe and worldwide . It is quite a competitive market, screened by private and professional investors worldwide.

Whether you are a landlord or an interested buyer, having a clear idea and regular updates about market trends and development real estate prices in Berlin would be great advantage. 

Indeed, being acknowledgeable about latest real estate market developments and property price trends would be helpful for a good decision making when it come to buying and/or selling a property in the German capital.

If you intend to buy an apartment, this would help targeting the right offers and seize the right opportunity at the right time.

If you intend to sell an apartment in Berlin, this would help you getting the right sale timing and strategy. 

 As an aspiring buyer:

  • Invest in a property: if you intend to invest in a property in Berlin, getting a detailed idea about Berlin real estate prices, areas and apartment prices will make taking the right decisions for your investment in terms of property type, area, budget…
  • Buy your home in the city: if you already rent a flat (or plan to move), the knowledge of apartment prices in Berlin will be useful to take the decision to continue renting or to buy your own home. This would be also useful to set-up your search criteria and to have a precise idea about your purchase budget.

As a landlord/Owner:

    • Have a market value update of your property: if you own a property or several in the city, having an update about house prices trends in Berlin is a valuable information that could help following the value development of your property.
    • Take the right decision for selling: by following Berlin property market trends, you might cease the right window for selling. It allows you to take profit from price increase during positive cycles and to avoid market downturns at the right time.

Berlin property prices by area

The median residential property price in Berlin was around 5390 euros per square meter (ca. 500 EUR per square foot) by early 2022. This corresponds to a yearly increase of 8,2%. It reflects the strong dynamic of Berlin real estate market and the strong investment potential in the capital of Germany,  despite COVID-19 situation

However, the median house price represents only an overall average and embeds important disparities of pricing between vacant, tenanted and newly-built properties.

In fact, the average price combines all types of property standings from basic standing properties to luxury real estate, different type of houses, micro-locations, floors, amenities…..However, the most important disparity in Berlin house prices is the one between vacant and long term tenanted apartments. Tenanted apartments in Berlin are offered at discount of up to 40%. This difference is due to the imbalance between an extraordinarily strong demand (driven by the demographic and due to the economic development of the city) and a quite limited supply of vacant homes (either for rent or for sale). In this way, the tight supply of vacant homes generated a record occupancy rate (either rented-out or owner-occupied flats) of more than 98% in 2021. This is a main key to understand the residential property market pricing in the capital of Germany.

District Avg. price per sqm Increase in 2021 
Charlottenburg-Wilmersdorf 6063 6,8%
Friedrichshain-Kreuzberg 5785 8,5%
Lichtenberg 5467 27,0%
Marzahn-Hellersdorf 3863 14,8%
Mitte 6216 7,5%
Neukölln 4737 7,2%
Pankow 5849 11,5%
Reinickendorf 4211 9,4%
Spandau 4122 19,0%
Steglitz-Zehlendorf 4951 3,7%
Schöneberg-Tempelhof 4924 4,8%
Treptow-Köpenick 4772 14,6%
Berlin city 5388 8,2%

*Please note that the average price reflects significant disparities of the order of 1 to 4 depending on the rental status, the type of property and the location

Main facts about Berlin real estate prices development

Berlin represents one of the most international and most important real estate markets in the world. it’s ranked as the second real estate market in Europe after London, in terms of prospects.

Double-digit growth last years

In the view, the property market in Berlin has strongly developed since some years. The property price registered double-digit price increase in most of the last years. 

Strong fundamentals

Berlin real estate market is sustained by 2 strong fundamentals. On one side, the booming economy & start-up hub that attracts ca. 70% of German start-up funding and generate dozens of thousands jobs.  On the other side, the huge housing demand in the city fueled by   mostly young newcomers working in large tech companies such as Tesla, Zalando, Hello Fresh, Lieferando, N26, Amazon….

Still attractive prices

Despite the sharp increase of prices, Berlin real estate prices remain affordable. Compared to other housing markets in Germany, house prices in Berlin are 1 to 2 times less expensive than in most large cities in Germany and Europe such as Hamburg, Munich, Stuttgart and Frankfurt, London or Paris. 


Berlin property market background

In recent years, the capital of Germany has experienced a growing popularity among foreign investors, both private and institutional. As a result, the volume of real estate investments has increased threshold to reach the rate of 10 billion euros per year (against 3 billion in 2014). Moreover, the German capital is currently ranked first among all major cities and capitals in terms of quality of real estate investment, particularly in terms of profitability and the prospects of capital appreciation and profit on resale. In the same ranking, there is Lisbon in the 7th place, Copenhagen in the 6th, Barcelona in the 16th places followed by Paris in the 17th place while London ranks only 27th out of 30 ranked cities, particularly in view of the economic and monetary risks related to the process of Brexit. For historical reasons, the city has a particularly low residential home ownership rate with less than 20% of owners (compared to 55% national average in Germany) which leaves a very significant margin of the long-term development of the real estate market in Berlin. The high occupancy rate (about 98%) and the strong population growth (more than 50,000 people a year), support the demand for housing and are important factors of rapid growth of real estate prices in Berlin.

Property price differences in central Berlin districts

The most popular and expensive areas of the capital of Germany are the most international districts  such as Mitte Prenzlauer Berg . They are experiencing an important scarcity in terms of housing supply (vacant flats for sale and for rent). Friedrichshain and Kreuzberg district has prices that are generally 10-20% lower depending on the location. City areas such as Charlottenburg, Wilmersdorf and Schöneberg, which are more residential, have real estate prices around 10% lower than Mitte. In the districts of Wedding, Moabit, and Steglitz, property prices remain more affordable with ca. 20-25% discount . It should be noted that the district of Neukölln is currently the most dynamic of the whole city and has a very promising potential for investment with prices of approximately 25% cheaper than Prenzlauer Berg for example.

These figures are of course general and vary significantly depending on the micro-location of the property in the neighborhood. In this sense, an apartment located in the best locations of Prenzlauer Berg can far exceed an average location in Mitte. Similarly, a flat in the highly sought-after Schillerkiez in Neukölln will be more expensive and sold faster than a flat located next to Charlottenburg Castle.

If you are a landlord and want to have an accurate property appraisal, our real estate agency offers you a free property valuation service in Berlin, a local and international marketing service as well as turnkey management of the sale of your property in Germany.

Looking to buy a property in Berlin?

First Citiz Team helps you to find the right apartment in a short time and assists you from A to Z with the purchase process.

Thinking to sell a property in Berlin?

First Citiz Team offers you a free property valuation and full professional management of the property sale process.

Property prices in Berlin Mitte

In 2021, house prices in Mitte start at ca. 7000€/m2 for vacant flats in period buildings. For historical reasons and the construction of the cold war wall, there are very few offers of properties for sale in period buildings in Mitte. However, home buyers have more choice in the new buildings with prices starting at 9000€/m2. It should be noted that Mitte has a special status with a concentration of international demand on this most central district of the capital of Germany. Real estate prices in Mitte for already tenanted period homes start around 5500€/m2.

Property prices in Prenzlauer Berg

Currently the most sought after area in East-Berlin, property prices in Prenzlauer Berg start at ca. 6000 € / m2 for buying a ready to move apartment. A one bedroom apartment in good condition in an Altbau in Prenzauer Berg currently costs around € 350,000 (depending on condition, floor, amenities…). The most popular areas are around Helmholtzplatz, Stargarder strasse, Kollwitzplatz and Kastanienallee and prices per square meter are instead from 6,500 euros. In the few new programs under construction, prices start around € 7,500 / m2. For an apartment sold occupied with a regulated rent (in period houses), the real estate prices in Berlin Prenzlauer Berg start around 4000 euros per square meter

Property prices in Friedrichshain

Real estate prices in Berlin Friedrichshain start around 5500 € / m2 in for a vacant apartment in a period house. For buyers looking for a scent of history, it is possible to acquire an apartment on the Stalinist-style Karl-Marx Allee (reputed to be very solid and listed buildings) for a slightly higher price point. There are some new programs with prices starting at € 8,000 per m2 but which can exceed € 10,000 per m2 on the river banks near the Mercedes-Benz Arena. For a purchase of a period rented apartment, house prices in Berlin Friedrichshain start around 3700 euros per m2.

Property prices in Kreuzberg

House prices in Berlin Kreuzberg in period buildings start around 5700 € / m2 and are increasing strongly because of the scarcity of housing supply and the classification of some areas especially around the Markthalle 9, the Begmannkiez and Wranglerkiez where prices are rather around 6000 € / m2 for a vacant apartment (ca. 330.000€ for one bedroom vacant flat). For an investment (rented-out apartment) in Kreuzberg, the purchase price would be around 3800 euros per m2.

Property prices in Neukölln

Vacant house prices in Berlin Neukölln in period buildings start around 5300 € / m2. The neighborhood is undergoing a deep transformation and a strong demand, particularly from home buyers from Nordic countries, Brits and also French nationals. The most requested areas are located in the Schilletkiez, near the docks and around the Richardplatz. For a property investment (rented-out apartment with a reduced yield), the price per sqm would be around 3300 euros.

Property prices in Berlin Schöneberg

This central neighborhood between East and West also has a scarcity of properties for sale and prices start around 5500 € / m2. The best areas are around Akazienstr. and Winterfeldplatz. There are some new projects near the Diplomatic Quarter with prices starting from 8000 € per m2. For period houses, tenanted house prices in Berlin Schöneberg would rather start around 3800 euros per m2.

Property prices in Berlin Charlottenburg

House prices in Berlin Charlottenburg, a very coveted neighborhood, start from  5500 euros per sqm for vacant flats in sixties buildings in the north of Charlottenburg. Vacant apartments prices in well-maintained period buildings start at 6000 € / m2. The most sought-after areas are around Savignyplatz, Kurfürstendamm and Oliverplatz where a one bedroom apartment is still affordable at ca. 6800 euros per sqm. For a property investment, the prices of the apartments start at around 4000 € / m2.

Property prices in Berlin Wilmersdorf

House prices in Berlin Wilmersdorf differ significantly according to the location. Grünewald and the area around Roseneck are relatively expensive with prices starting around 6000 € per sqm. In other locations, such as the Fehrbelliner Platz, prices start around 5500 € per sqm for vacant apartments. The prices of rented-out apartments start at around 3800 € per sqm.

Property prices in Berlin Steglitz

A quite and family sought-after neighborhood, house prices in Berlin Steglitz start at around 4200 euros per sqm for vacant flats and have a good potential given the development of the neighborhood around Schloßstrasse. For tenanted properties with regulated rentals, house prices in Berlin Steglitz start around 3000€/m2.

Property prices in Berlin Wedding

The real estate prices for vacant apartments in Wedding start around 5000 per m2 for period building and the neighborhood offers a good rental investment because of its proximity to Mitte and its huge development potential. For tenanted properties with controlled rent apartment prices in Berlin Wedding start around 3600 euros per sqm.

Property prices in Berlin Moabit

House prices in Moabit start around 5000 euros per sqm for vacant apartments. The most demanded areas are around Kaiserin-Augusta Ufer, Stephankiez and Huttenkiez. The district offers a good investment option because of its proximity both to Mitte and Charlottenburg. For tenanted properties with controlled rents, apartment prices in Berlin Moabit start around 3600 euros per sqm. The prices would vary according to the monthly rent and the tenant profile.


Looking to buy a property in Berlin?

First Citiz Team helps you to find the right apartment in a short time and assists you from A to Z with the purchase process.

Thinking to sell a property in Berlin?

First Citiz Team offers you a free property valuation and full professional management of the property sale process.

For investors: how to wisely invest in Berlin real estate market?

Tenanted apartment prices in Berlin might represent a discount of up to 35% compared to the price for similar vacant properties on the market. This is due particularly to the sharp shortage of vacant homes and the quite high demand of residential housing.

For investors looking for a buy-to-let investment with a significant capital growth, it would be a good idea to buy an apartment that is already tenanted.

Example: Let we consider a one-bedroom vacant apartment in  Prenzlauer Berg or Kreuzberg that is listed for sale at. 350.000€.

The same apartment but already tenanted,  would be rather listed around 230.000€. 

This means that by buying a tenanted fat, you have already the guarantee of  ca. 50% capital gain, if you resell in a vacant status!

You are interested in discounted investment properties? Our real estate agency lists a selection of discounted apartments for sale in most sought-after areas of the capital of Germany.

Please get in touch for more information about discounted tenanted properties. We will select for you best options in Berlin property market!

12157 Berlin, Apartment for sale, Steglitz
new

Top location in Steglitz: tenanted 4 rooms 2 balconies and high potential

Berlin - Steglitz
Rooms:
4
Property size:
105.71 m²
Status:
Tenanted
Sale price:
425,000 EUR
12049 Berlin, Apartment for sale, Neukölln

Excellent investment property: New-build apartment 2min walk from Tempelhofer Feld

Berlin - Neukölln
Rooms:
1
Property size:
25 m²
Status:
Tenanted
Sale price:
214,000 EUR
12167 Berlin, Apartment for sale, Steglitz
new

Well maintained investment in the heart of Steglitz

Berlin - Steglitz
Rooms:
3
Property size:
97.36 m²
Status:
Tenanted
Sale price:
399,000 EUR
12167 Berlin, Apartment for sale, Steglitz
new

Investment property – rented 3-room apartment in a sought-after location near Rathaus Steglitz

Berlin - Steglitz
Rooms:
3
Property size:
95.69 m²
Status:
Tenanted
Sale price:
419,000 EUR
12167 Berlin, Apartment for sale, Steglitz
new

Great investment property near Rathaus Steglitz: rented 4-room apartment

Berlin - Steglitz
Rooms:
4
Property size:
112.29 m²
Status:
Tenanted
Sale price:
489,000 EUR
12157 Berlin, Apartment for sale, Steglitz

Excellent investment oportunity: tenanted 3-room apartment in an authentic period building

Berlin - Steglitz
Rooms:
3
Property size:
90.41 m²
Status:
Tenanted
Sale price:
394,000 EUR
12157 Berlin, Apartment for sale, Steglitz
new

Strong price appreciation: Tenanted 2-room apartment in an authentic period building

Berlin - Steglitz
Rooms:
2
Property size:
69.98 m²
Status:
Tenanted
Sale price:
269,000 EUR

First Citiz real estate agency provides you with comprehensive information about Berlin real estate market, the process for buying an apartment in Germany, property types and city areas.

Our English-speaking real estate agency in Berlin will also inform you about key facts of real estate investment as well as the property tax rules in Germany. You can also ask us about mortgage possibilities with a German bank or a credit institution in Germany as well as the current borrowing rates in Germany.

For any other relevant information relating to your real estate purchase plans, please do not hesitate to contact our team and to have a look on our selection of apartments for sale located in the best areas of the capital of Germany.

If you are a landlord and thinking of selling your property in Berlin, do not hesitate to contact us to have your property valued for free.

Our English-speaking estate agent offers you a free property valuation service. In this sense, First Citiz offers you a unique international marketing service as well as a full sale process management..

Our service for your property valuation is  100% free of charge and non-binding!

For a professional property appraisal of your property, please get in touch with us:

  • Phone: +49 30 41 71 72 74
  • Email: contact@firstcitiz.com
  • Address Pappelallee 11, 10437 Berlin
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Mitte has most expensive real estate prices of the capital of Germany
The average property price in Berlin Friedrichshain is 5329 euros per square meter
The average price per m2 in Berlin Charlottenburg is 5,670 euros at the start of 2021

*Note and disclaimer: The above-displayed Berlin price map, berlin property prices graphs and all the information about prices of properties and real estate market in Berlin, are not contractual neither binding. It’s subjective information that reflects subjective opinions of our team about housing prices and market in Berlin. We do not accept any liability for a non-updated information,, accuracy or completeness of any information or estimation of values. Error and outdated information can be expected. Please note that every area has important disparities in property market pricing. In this view, within a single area, apartment prices in Berlin can vary significantly based on criteria such as the status (vacant or tenanted), the yield, the year of construction and the micro location for which home buyers give a high importance.