As of 31 December 2014, approximately 3.47 million people were living in Berlin. That is 48,000 more than a year earlier, according to the Berlin-Brandenburg Statistics Office. The increase matches the level of the two preceding years.
International migration as the main driver
174,000 people moved to Berlin in 2014, while 134,000 left. The net migration balance: plus 40,000. Over 90 percent of this gain came from international migration, according to the statistics office. In addition, there were 37,400 births against 32,300 deaths, resulting in a birth surplus of around 5,100.
BBU: 20,000 new apartments needed
The BBU, the association of Berlin-Brandenburg housing companies, derives a minimum new construction requirement of 20,000 apartments from these figures. Rising demand meets a supply that is growing only slowly. The BBU stresses that, given the large number of children and migration from crisis regions, the focus must be on affordable new housing.
Where the pressure is greatest
Migration is concentrated in certain areas. Inner-city boroughs such as Friedrichshain-Kreuzberg and Pankow are feeling the pressure most acutely. Available housing is becoming scarcer and vacancy rates are falling.
For property owners in these locations, this means a stable letting situation. For the market as a whole, excess demand continues to push prices and rents upward.
