A recent study on Berlin's property market confirms: locations around Kurfuerstendamm and Tauentzienstrasse remain the city's most expensive addresses. International investors and developers are showing renewed interest in Charlottenburg-Wilmersdorf.
Yields in prime locations
According to the study, net initial yields for top-tier commercial properties in City West range from 4.6 to 5.4 per cent. Tauentzienstrasse has reached a chain store presence of nearly 100 per cent. Large retail chains continue to seek space there.
Hotel projects as a driver
Several construction projects focus on the hotel sector. The Bikinihaus at Zoologischer Garten, a listed 1950s building, is being fully renovated and converted into a hotel and shopping complex. Across the street, the Zoofenster high-rise is under construction and will house a five-star Waldorf Astoria hotel.
Impact on the surrounding area
The hotel projects have effects beyond their immediate sites. Adjacent residential areas benefit from increased footfall and attention. For owners of residential property in the western boroughs, these are relevant developments. Market data for Charlottenburg-Wilmersdorf show the trend.
