The Expert Committee for Property Values has published its figures for the first half of 2015. The result: 16,042 purchase contracts, up 31 percent year on year. Transaction volume rose 43 percent to EUR 6.3 billion.
Apartments account for the largest share
About two thirds of all sales were apartments. The 10,520 transactions represent a 39 percent increase. Transaction volume in this segment grew 57 percent to EUR 2.3 billion. Prices rose noticeably in sought after locations within the S-Bahn ring, including Neukoelln and Mitte.
Detached and semi-detached houses also up
For developed plots, detached and semi-detached houses account for 67 percent of sales. Transaction numbers rose 33 percent to 1,426, with volume up 45 percent to EUR 0.5 billion. Demand here focuses on the greener outer boroughs with good transport links.
Prices up at least 10 percent
Across all sub-markets, the Expert Committee recorded a price increase of at least 10 percent compared to 2014. Berlin continues to close the price gap with other German cities such as Munich and Hamburg.
State secretary calls for more building land
Engelbert Luetke Daldrup, State Secretary for Building and Housing, commented on the report: "The price increases on the property market make clear that more building land must be made available." Demand is growing faster than supply, and as long as new construction does not pick up significantly, this dynamic is unlikely to change.
