Market Analysis
Federal funding for Berlin
EUR 5.7 million in federal funding for social facilities in Berlin
From the federal programme for renovating municipal facilities, EUR 5.7 million is going to Berlin. Three projects in Neukoelln, Wedding and Marzahn were selected.
Peter Guthmann
Berlin secured federal funding in a competitive process. From the programme "Renovation of municipal facilities in the areas of sports, youth and culture", 5.7 million euros will flow to the capital. Out of nearly 1,000 applications nationwide, the federal government selected just 56 projects, three of them in Berlin.
"Every euro for social infrastructure is a euro for Berlin's future", commented State Secretary Engelbert Luetke Daldrup.
Three locations benefit
The funding goes to three projects in different boroughs:
The Kinderclubhaus Dammweg in the Neukoelln quarter Dammwegsiedlung/Weisse Siedlung receives renovation funding. The children's club is a fixture of neighbourhood life.
The Nauener Platz complex in Wedding, part of the Mitte borough, is also being renovated. The square is a central meeting point in the area.
The Freizeitforum Marzahn, the largest culture and leisure centre in northeast Berlin, receives funds for maintenance and modernisation.
Relevance for the property market
Public investment in social facilities affects how attractive a neighbourhood is. Renovated youth clubs and cultural centres make an area more appealing for families. This can increase demand for apartments in Berlin in the affected locations and influence rents and purchase prices over time. For investors tracking the market development in up-and-coming areas, such funding programmes are a relevant indicator.