Market Analysis
Berlin property prices
Record price in Berlin-Mitte: EUR 19,200 per sqm for a condominium
According to the Expert Committee, a condominium in Berlin-Mitte sold for EUR 19,200 per sqm. That puts Berlin just ahead of Hamburg in a comparison of peak transaction prices.
Peter Guthmann
A condominium in Berlin-Mitte sold for EUR 19,200 per sqm. The figure comes from Expert Committee data that were analyzed and published by a brokerage firm at the end of March. The sale took place in the first half of 2015.
Berlin in the peak price comparison
At EUR 19,200 per sqm, Berlin sits just ahead of Hamburg, where at least one sale at EUR 19,000 was recorded. Frankfurt follows at EUR 14,800, Stuttgart at EUR 12,600, Duesseldorf at EUR 11,100, and Cologne at EUR 9,800.
One caveat: Munich's Expert Committee data cannot be analyzed in the same way. Since Munich generally has higher per sqm prices, an even higher outlier there is possible.
Other boroughs also in five figure territory
The price increase is not limited to Mitte. Five figure per sqm prices were also recorded in Charlottenburg-Wilmersdorf (EUR 12,493), Friedrichshain-Kreuzberg (EUR 9,375), and Steglitz-Zehlendorf (EUR 8,138). The upper price segment is spreading across the entire inner city.
Demand for high quality apartments in Berlin remains strong.
A EUR 19,200 outlier resets premium-segment expectations
The EUR 19,200 per sqm record is an extreme outlier, but it shapes perceptions and willingness to pay in the premium segment. For owners in prime locations, it signals substantial value appreciation. For investors, Berlin offers high potential at rising entry costs.
Low interest rates, strong population growth, and Berlin's increasing economic weight continue to drive the market. Whether the momentum carries into mid-range locations is the open question. Owners considering a sale in prime locations should benchmark today's pricing together with a Berlin real estate agent.
