The capital city of Berlin is attracting wealthy individuals from across the globe, keen to buy suitably exclusive property, either for their own use or as an investment. Dirk Moritz, founder of Moritz Gruppe advises that this immense demand cannot be covered by what the housing market has to offer presently, not just within the actual inner city but also the surrounding areas.
“Although the area seems to matter more when it comes to sales rather than lettings,”
he explains,
“areas such as Berlin Mitte, Prenzlauer Berg and Friedrichshain, as well as Berlin Charlottenburg und Wilmersdorf are definitely the most desired for all types of residential properties. Also Berlin Lichtenberg and Kreuzberg are still being focused on and very popular.”
Berlin’s population is steadily growing, expecting an additional 50,000 people per annum. The demand for properties is also being increased by a very high figure of singles living in Berlin. Sharing houses or apartments is not a very common or desired concept in the city as yet. The Berlin economy has also experienced positive development over recent years and finds itself in a steadier phase which makes the German capital an attractive base for national and international businesses.
“Highly educated young creatives seem to feel the attraction to Berlin the most, “
says Mr Moritz,
“The start-up scene enhances the city and slowly people seem to also be able to afford the slightly more expensive flats. Berlin’s Senate seems to be trying to put a stop to the rise of the rental prices as of this year, but it will be interesting to observe if the new political direction in regards to regulations will grip within the private rental market; at the end it will still be the landlords who choose their tenants.”
Increasing house prices for rentals and sales will also raise the purchasing costs for private or institutional investors.
“The general quality of the growing population will cause a further increase in demand for good standard in housing,”
continues Mr Moritz,
“which means, as in most other metropoles in the world, the rental market will continue to go up, possibly with a moderate increase of 15-20% per annum.
“This tendency generally and also in Berlin will lead to gentrification, monofunctionality, rent increase, increase in construction costs etc. Indeed, the old and the new have to learn how to exist alongside each other and introduce sensible concepts for the future of town planning. A huge challenge will be that Berlin has to be able to maintain and continuously grow its attractiveness and spark in comparison to other international hotspots.”
Mr Moritz believes that the issue for future town planning will be to grow the infrastructure at the same pace and recognise trends early on.
“Within the new concepts for infrastructure,”
he says,
“one would desire the completion of the new state-of-the–art, international airport, which would certainly improve the region Berlin-Brandenburg further.
“Personally, I predict a good to potentially very good return on investments in infrastructure projects, commercial and modern office concepts, boutique hotels and for long-term residential properties. But as always it is the choice of area, the quality and attractiveness of the actual property on offer which influences the rental or sale price.”
Meine Mitte, Berlin-Mitte
This residential complex is under construction on one of the last open spaces at the former site of the Berlin Wall. It will include 102 modern, owner-occupied apartments in the Mitte district between Checkpoint Charlie, Spittelmarkt and Moritzplatz. The seven-storey residential complex on the border with the fashionable Kreuzberg district is arranged into five buildings, which will create individual addresses for residents.
Apartments will range from one to two-room apartments from 33m2 to four to five-room apartments of up to 174m2. They will all include ceiling heights of 2.72 metres, floor-level windows, gardens or balconies, loggias or roof terraces, and be fitted with oak parquet flooring and underfloor heating. An underground garage with around 50 spaces will provide ample parking. Completion is due in 2016.
From £104,535 / €148,000 / $161,870 –
£578,322 / €819,000 / $895,585
Patrizia Immobilien +49 (0)30 202 154
info@meine-mitte-berlin.de
Art Loft, 10117 Berlin
Centrally located within the award-winning apartment complex ‘yoo berlin’, Art Loft fulfills every expectation of an elegant city home. Its design is a reduced interpretation of the classic Berlin townhouse with every feature, including its floor to ceiling doors, being custom made.
The two-level apartment is fully equipped and furnished and offers light filled rooms, high ceilings and a refined, highly luxurious interior. In addition, a private and peaceful garden provides a relaxing oasis amid one of the world’s busiest and most exciting metropolises. Amenities include a doorman/concierge, wellness and spa area with pool and underground parking.
£2.36m / €3.39m / $3.69m Zabel Immobilien +49 (0)30 520 09 70
info@zabel.com
Secret Garden Berlin, Berlin Mitte
In 2008 Dirk Moritz, founder of the Moritz Gruppe, accidentally discovered a half ruined, three-floor former variety theatre buried under 30 tons of rubbish. Since then, he has developed the property as a mixed-use concept.
Dating back to 1905, this impressive building includes a great ballroom on the second floor, a wonderful gallery, original wall paintings and ceilings of up to 7.5 metres high. Amazingly, this theatre which peaked during the golden years of the 1920s, had remained closed and forgotten for almost 80 years.
Its rebirth is going to be carried out meticulously, connecting the old and new in the most beautiful and respectful way. The building will be equipped with the newest technology and be enlarged by a modern penthouse on top. Great care is going to be taken to preserve all its historic details so they won’t disappear and be forgotten.
Various commercial and residential units will be available for rental upon completion in December 2016 and the property will be offered for sale as a whole.
£7.1m / €10m / $10.94m Moritz Gruppe +49 (0)30 4226810
