Berlin property prices & real estate market trends
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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 2024
The essential about Berlin property prices in 2024
The average offer price for apartments in Berlin by early 2024 is 5750 EUR per square meter.
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 2024.
- Vacant period flats (regular): 4.500 EUR/m2 to 8.000 EUR/m2
- Vacant period flats (upscale): 7.500 EUR/m2 to 10.000 EUR/m2
- Off-plan new build apartments (regular) : from 6.500 EUR/m2 to 10.000 EUR/m2
- Off-plan new build apartments (upscale) : from 9.500 EUR/m2 to 13.000 EUR/m2
- Tenanted period apartments: from 2.500 EUR/m2 to 5.000 EUR/m2
Selection of apartments for sale
Upscale 3-bedroom Penthouse with large terrace in Berlin Friedrichshain
Trendy Berlin-Friedrichshain! Newly built 3-room apartment with spacious balcony
Perfect for couples! Excellent 2 room new build apartment with balcony
Potsdamer Platz: Prestigious 3/4 rooms apartment for sale
New -build 3-room apartment with balcony close to Mercedes-Benz Arena
Ready to move in! Luxury penthouse with 4 bedrooms and roof terrace in Friedrichshain
Amazing garden apartment for sale next to BrĂĽsseler Kiez in Wedding
Luxury living in a prime location: Unique 4-room new building with balcony
Ideal for families! Spacious 4-room new apartment with balcony
Sensational 2-room newly built apartment with balcony
Cozy 3-room apartment with balcony for sale in best location of Berlin-Wedding
Next to BrĂĽsseler Kiez: 3-room apartment with balcony for sale
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:
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- 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 5750 euros per square meter (ca. 534 EUR per square foot) by early 2024. 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 2024. This is a main key to understand the residential property market pricing in the capital of Germany.
| District | Average apartment price |
| Charlottenburg-Wilmersdorf | 6.493 EUR per m2 |
| Friedrichshain-Kreuzberg | 6.744 EUR per m2 |
| Lichtenberg | 5.000 EUR per m2 |
| Marzahn-Hellersdorf | 4.650 EUR per m2 |
| Mitte | 6.679 EUR per m2 |
| Neukölln | 4.978 EUR per m2 |
| Pankow | 6.469 EUR per m2 |
| Reinickendorf | 4.367 EUR per m2 |
| Spandau | 4.118 EUR per m2 |
| Steglitz-Zehlendorf | 5.268 EUR per m2 |
| Schöneberg-Tempelhof | 5.175 EUR per m2 |
| Treptow-Köpenick | 5.038 EUR per m2 |
| Berlin city average | 5.388 EUR per m2 |
*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. According to PWC Emerging Trends in Real Estate® report for 2024, the capital of Germany is currently ranked among Top 5 cities and capitals in terms of quality of real estate investment in Europe. The ranking is based on criteria such as the profitability and the prospects of capital appreciation and profit on resale. In the same ranking, we find Lisbon in the 8th place, Frankfurt in the 9th, Barcelona in the 10th place while Paris and London tops the ranking. 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). This leaves a very significant margin of the long-term development of the real estate market in Berlin. The high occupancy rate (about 99%) and the strong population growth (over 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.
Property prices in Berlin Mitte
In 2024, house prices in Mitte start at ca. 7.000€/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 10.000€/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 5000€/m2.
Property prices in Prenzlauer Berg
Currently the most sought after area in East-Berlin, property prices in Prenzlauer Berg start at ca. 6.000 € / 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 7.000 euros. In the few new programs under construction, prices start around € 10.000 / m2. For an apartment sold occupied with a regulated rent (in period houses), the real estate prices in Berlin Prenzlauer Berg start around 4.000 euros per square meter
Property prices in Friedrichshain
Real estate prices in Berlin Friedrichshain start around 5.500 € / 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 € 9.000 per m2 but which can exceed € 11.000 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 3.000 euros per m2.
Property prices in Kreuzberg
House prices in Berlin Kreuzberg in period buildings start around 5.700 € / 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 6.000 € / 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 3.300 euros per m2.
Property prices in Neukölln
Vacant house prices in Berlin Neukölln in period buildings start around 5.300 € / 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 2.800 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 5.700 € / m2. The best areas are around Akazienstr. and Winterfeldplatz. There are some new projects near the Diplomatic Quarter with prices starting from 9.500 € per m2. For period houses, tenanted house prices in Berlin Schöneberg would rather start around 3000 euros per m2.
Property prices in Berlin Charlottenburg
House prices in Berlin Charlottenburg, a very coveted neighborhood, start from 5.500 euros per sqm for vacant flats in sixties buildings in the north of Charlottenburg. Vacant apartments prices in well-maintained period buildings start at 6.000 € / m2. The most sought-after areas are around Savignyplatz, Kurfürstendamm and Oliverplatz where a one bedroom apartment is still affordable at ca. 7.000 euros per sqm. For a property investment, the prices of the apartments start at around 3.500 € / 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 6.000 € 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 3.300 € per sqm.
Property prices in Berlin Steglitz
A quite and family sought-after neighborhood, house prices in Berlin Steglitz start at around 4.200 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 2.500€/m2.
Property prices in Berlin Wedding
The real estate prices for vacant apartments in Wedding start around 4.500 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 2.800 euros per sqm.
Property prices in Berlin Moabit
House prices in Moabit start around 5.000 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 2.800 euros per sqm. The prices would vary according to the monthly rent and the tenant profile.
For investors: how to wisely invest in Berlin real estate market?
Tenanted apartment prices in Berlin might represent a discount of up to 50% 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. 320.000€.
The same apartment but already tenanted, would be rather listed around 180.000€.
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!
Trendy Berlin-Friedrichshain! Newly built 3-room apartment with spacious balcony
Perfect for couples! Excellent 2 room new build apartment with balcony
Cozy 3-room apartment with balcony for sale in best location of Berlin-Wedding
Next to BrĂĽsseler Kiez: 3-room apartment with balcony for sale
Brand new 2 bedroom flat for sale next to BrĂĽsseler Kiez
Large 2-room apartment for sale in Berlin Wedding
Brand-new apartment with balcony in Berlin – Mitte
Upscale brand-new 2-room apartment with large balcony close to Spree river
Ready to move! Charming 2-room apartment next to Volkspark Humboldthain
Long Term Tenanted Rental! Top location in Charlottenburg
Ready to move in! Upscale 2 room apartment with a balcony in a top location of Friedrichshain
Ready to move in! 2-room apartment on the border to Prenzlauer Berg – WeiĂźensee
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
*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.