Berlin Apartment Market Q3 2026

Resale market

Resale apartments in Berlin are notarised at an average of €5,230 per sqm. Year on year, the change is -€60 per sqm or -1.0 %.

Measured over longer periods, average annual change stands at 8.4 % over fifteen years and 7.2 % over ten years.

Prices by location

The highest prices per square metre are notarised in Mitte (€6,620 per sqm), Friedrichshain-Kreuzberg (€5,770 per sqm) and Charlottenburg-Wilmersdorf (€5,750 per sqm). The lowest are in Spandau (€3,380 per sqm), Reinickendorf (€3,700 per sqm) and Marzahn-Hellersdorf (€3,890 per sqm). The full ranking of all twelve boroughs is shown in the table.

Within individual boroughs, values lie further apart than between some boroughs. In the district of Mitte the price per square metre is €8,650 per sqm, in the district of Wedding it is €4,110 per sqm. Both belong to the borough of Mitte.

Supply and notarisations

The gap between asking price and transaction price stands at 8 % or €400 per sqm.

As at the data cut-off for this edition, 6,768 notarisations are recorded. For 2025 the series shows 12,514. The current-year figure is incomplete because notarisations are reported with a lag.

On the supply side, 37,107 listings are recorded, against 28,928 for 2025.

Other factors in pricing

Alongside location, availability, construction period, condition and size all affect price. The average living area of notarised resale apartments is 70 sqm; in 2010 it was 74 sqm. The average transaction price is €374,800, against €109,200 in 2010.

By availability, sales divide between vacant and occupied units and tenant purchases.

Sales are distributed unevenly across construction periods. The largest share is accounted for by apartments built up to 1918, followed by the 1950 to 1964 period.

The table below describes the characteristics of each construction period.

New development market

New developments are notarised at an average of €8,440 per sqm. Year on year, the change is €240 per sqm or 3.0 %. Over ten years, the change is 106.0 %, an average annual change of 7.5 %.

As at the data cut-off for this edition, 833 notarisations are recorded. For 2025 the series shows 1,428.

The average living area of notarised new developments is 57 sqm. In 2015 it was 82 sqm.

Rental market

The average asking rent for resale apartments is €18 per sqm net cold. For new developments it is €22 per sqm. Year on year, the change for new developments is -€1.00 per sqm.

In 2015 the asking rent in the resale segment was €9 per sqm, in 2020 €11 per sqm.

Asking rents include furnished and fixed-term lettings. Their share of total supply cannot be determined from listing data.

For new developments the series follows its own path.

Asking rents relate to new lettings. The 2022 census, by contrast, captures the entire rent level across the existing stock and reports an average net cold rent of €7.8 per sqm. In all twelve boroughs, asking rents lie above census rents. The range by borough is shown in the table.

Social housing

Berlin's building authorities reported 13,754 approved apartments for 2025 according to the final figures of the Berlin-Brandenburg Statistics Office, after 9,772 in 2024. Within social housing, the Senate granted approval for 5,175 apartments. Most subsidised apartments are aimed at middle incomes, with entry rents of €11.50 per square metre. At the end of 2023, Berlin counted just under 100,000 social housing units, against 105,000 a year earlier. Around 5,000 apartments leave their subsidy commitment each year.

Housing demand

For the period from 2022 to 2040, the 2024 Urban Development Plan Housing (Stadtentwicklungsplan Wohnen) puts housing demand at 272,000 apartments. The figure comprises additional demographic demand of 85,000 units from in-migration, relief demand of 137,000 apartments to establish a fluctuation reserve of around three percent, and a land reserve of 50,000 units. The plan makes no statements on future rent or price developments. In inner-city locations, additional housing arises predominantly through densification and conversion, in new quarters on the urban fringe through new construction.

Outlook

The citywide year-on-year change of -1.0 % is an average across opposing movements. Through the third quarter of 2026, little is moving in the large districts. The established names, Friedrichshain, Kreuzberg, Charlottenburg, Wilmersdorf and Neukölln, each lie between −1 % and +3 %. The larger swings mostly come from districts with low transaction counts. The one exception is Halensee at 17.0 % on 82 notarisations.

No citywide trend can be read from this. The subdued development may also reflect the very open outcome of the forthcoming election to the House of Representatives. Whether home ownership and letting are recognised as a social good will depend on the coalition that forms at state level, and on the composition of the twelve borough councils.

On the interest rate side, the ECB Governing Council raised all three key rates by 0.25 percentage points on 10 September 2026, following a first step in June 2026. The deposit facility rate stands at 2.50 percent, the main refinancing rate at 2.65 percent and the marginal lending facility at 2.90 percent. Brokers reported conditions of around 4.2 percent for ten-year loans on 10 September 2026.

Berlin continues to enjoy the confidence of international buyers, who are returning to the market. These investors view regulation and sentiment with more distance than landlords involved and invested in Berlin can.

How quickly Berlin's property market returns to strength depends less on the quantitative conditions. The vacancy rate still stands at around 2.0 percent, and net additions to the housing stock remain too low to replenish it to the point where pressure escapes the rental market. In 2024 the net housing balance was 15,362 apartments.

That Berlin continues to hold up is shown by the CAGR, the average annual change in the resale market, which stands at 7.2 % despite the corrections of recent years.

Methodology

Data cut-off for this edition: transaction data as at 09.09.2026, listing data as at 31.08.2026. Current-year figures are part-year and not comparable with completed years.

Asking prices and asking rents are reported as medians, transaction prices as arithmetic means. The price gap and the comparison with census rents therefore set differently calculated measures of central tendency against one another.

Data sources: Gutachterausschuss für Grundstückswerte in Berlin for transaction data and IMV Immobilien-Marktdaten-Vertriebs GmbH for listing data. Own calculation, aggregation and presentation across Berlin's spatial levels of borough, district and neighbourhood. The figures shown are based on a model-based analysis and do not replace official statistics. Deviations cannot be ruled out.