Last Update: 23.02.2024

Berlin Properties Pankow 2024

With its characteristic mix of old and new buildings, the Pankow district represents the flair of the entire borough in a microcosm. During the time of the Berlin Wall, this district was considered one of the most desirable residential areas in East Berlin. From historic villa districts to newer residential areas with single-family homes, Pankow offers a diverse architectural landscape. The current price for a typical existing apartment in Pankow is around 5,220 EUR/m².

From Political Elite to Family Idyll: The Transformation of Pankow

Located in the north of Berlin and part of the borough with the same name, the Pankow district has undergone significant changes over the years. During the era of East Germany, this particular district was synonymous with privilege, being the residence of many high-ranking DDR government members. Long after the fall of the Berlin Wall, many West Berliners still considered Pankow to be "JWD," an acronym for "Janz weit draußen," meaning "way out there." While the large embassies and political figures may have long since moved on, the district has not lost its allure. On the contrary, it's gaining more fans from the old western parts of the city. This is likely due to Pankow's modernization and transformation. Lofts have been created from the representative former Schultheiss malt house built in 1874, and the old Garbáty cigarette factory has also been converted into residences. Today, Pankow is probably even more eco-focused than Kreuzberg, Prenzlauer Berg, or Friedrichshain, which is surely one of the reasons for its popularity among young families.

Existing buildings

Median Asking price
4,780 EUR/m²
-5.20 %
Median Asking rent
12.35 EUR/m²
+2.20 %

New buildings

Median Asking price
7,180 EUR/m²
-6.10 %
Median Asking rent
22.00 EUR/m²
-6.70 %

Property prices in Berlin Pankow

The current median asking price for existing apartments in the core area of Pankow stands at 5,220 EUR/m². Over the past year, a total of 540 properties in this segment were listed on the market. The price change during this period was -4.50 %.

Considering all districts within Pankow, the median price is 4,780 EUR/m², with a development rate of -5.20 %, which illustrates the price differentiation by neighborhood and micro-location.

In the core area, prices are around 5,220 EUR/m², while in the family-oriented district, the median price is 4,080 EUR/m², and in Niederschönhausen, it's 4,780 EUR/m².

We have recorded 100 new-build condos in Pankow, which were introduced to the market at a median listing price of 7,330 EUR/m². The price development compared to the previous year is -6.10 %.

Price index Pankow

Period Existing buildings Median Offer price Index (base 10 years = 100) New buildings Median Offer price Index (base 10 years = 100)
Current quarter 4,780 EUR/m² - 7,180 EUR/m² -
1 Year 5,040 EUR/m² -5.20 % 7,640 EUR/m² -6.10 %
3 Years 4,490 EUR/m² 6.50 % 5,690 EUR/m² 26.10 %
5 Years 3,480 EUR/m² 37.20 % 4,940 EUR/m² 45.20 %
10 Years 2,250 EUR/m² 112.40 % 3,170 EUR/m² 126.50 %

Development of property price segments in Berlin Pankow

Development of the housing offer (existing apartments) in Pankow. The chart shows price increases and price segment shifts over the 10-year period.

Location and Type Determine Value Development

In the Pankow district, the real estate inventory is quite diverse. In the family-oriented neighborhoods featuring single and two-family homes, modern row house developments, and an attractive mix of property types, prices—particularly for penthouse apartments in modern complexes—have noticeably increased in recent years. Overall, all segments are currently showing sideways movement, with minor price adjustments here and there. With 920 listings in a year, the market for single and two-family homes in Pankow is one of Berlin's larger sub-markets. The current median asking price stands at 4,880 EUR/m². The price correction compared to the previous year is -4.70 %. Location-adjusted prices vary: in the Pankow neighborhood, the median price is 6,130 EUR/m², in Buch it's 4,550 EUR/m², and in Niederschönhausen it's 6,170 EUR/m². In the new-build segment, 500 properties were listed at a median price of 4,920 EUR/m². Higher existing-home prices are often due to the location.

Clustering of Real Estate Listings in Pankow by Age and Size

The bubble chart visualizes the dynamics of the Pankow real estate market over the past 12 months. Here, the color scheme represents the different construction year categories, while the size of the bubbles indicates the number of listings. The coordinates of the chart map out the price per square meter and the sizes of the apartments.

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Trend

Pankow continues to evolve as a magnet for various age groups and lifestyles. While the southern districts, especially Prenzlauer Berg and Weissensee, offer an urban, youthful atmosphere, the northern and northeastern areas exude a more bourgeois, tranquil charm. At the center of this trend is the core district of Pankow, with which many young families readily identify: urban yet relaxed; environmentally conscious but not ideologically charged; well-connected but not overcrowded.

The real estate prices seem well-balanced in light of the quality of living and lifestyle offered. The growing supply of new-build apartments and homes lends additional dynamism to the market, although currently interrupted by rising interest rates. The search for a residential alternative to traditionally "hip" neighborhoods like Kreuzberg or Friedrichshain is leading many people to Pankow, supported by a robust infrastructure, diverse educational offerings, and an international neighborhood. Poles, Italians, Romanians, Britons, Spaniards, and Brazilians are among the top 10 nationalities represented.

Overall, this trend reflects Pankow's future, which for now manifests in stable and very likely soon-to-be rising prices.

Apartment buildings

Compared to more central Berlin districts, Pankow has a smaller housing deficit when taking into account the population including secondary residences and the average household size. This is particularly evident in multi-family houses in Buch and the core district of Pankow, where the average household size is 1.74 persons. Mathematically, only about 1,800 apartments are missing to achieve this average, making the housing market in Pankow appear comparatively balanced.

This relative market stability makes Pankow particularly attractive for investors in the multi-family house segment. Although the number of listings for rental houses noticeably declined in 2022, a recovery is expected for 2023. However, this comes with slightly reduced offering and transaction prices.

In the areas of South Pankow and the center, social preservation zones moderately influence price development. The price range for the so-called "value-relevant floor area," a metric similar to the gross floor area, is between 1,424 and 4,083 euros per square meter in 2023.

For a tailor-made evaluation of your rental house in Pankow, we are happy to assist you.

MFH Pankow: Werte und Entwicklung

Jahr    
2018 Anzahl 38
  Preisspanne EUR/m² 468 bis 4.652
  Mittelwert EUR/m² 2.105
2019 Anzahl 24
  Preisspanne EUR/m² 671 bis 3.090
  Mittelwert EUR/m² 1.736
2020 Anzahl 23
  Preisspanne EUR/m² 895 bis 2.819
  Mittelwert EUR/m² 1.961
2021 Anzahl 15
  Preisspanne EUR/m² 1.109 bis 6.111
  Mittelwert EUR/m² 2.345
2022 Anzahl 11
  Preisspanne EUR/m² 1.815 bis 5.626
  Mittelwert EUR/m² 2.768
2023 Anzahl 14
  Preisspanne EUR/m² 1.424 bis 4.083
  Mittelwert EUR/m² 2.639

New construction Pankow

Pankow as we know it today is the most populated and the second largest district in Berlin in terms of area and was formed in 2001 from the former districts of Pankow, Prenzlauer Berg and Weißensee. Its 13 districts, stretching from the northernmost part of Berlin to Torstrasse, feature plenty of greenery and vibrant big-city living, almost contrasting with the rest of Prenzlauer Berg with its narrow development.

The district of Pankow is significantly clearer. There is a lot of construction going on. For example, in recent years one of the largest projects with around 190 residential units has been planned in Wiltbergstrasse. A gross floor area of 29,000 m² on 5 floors is currently planned, and construction is scheduled to begin in July 2022.

With an estimated construction sum of 73 million, several apartment buildings are also planned in Idunastraße and Neukirchstraße. GESOBAU AG is developing a gigantic project here with 430 residential units, 883 parking spaces and a 500 m² commercial and retail area. Construction is scheduled to start in 2023 and be completed in 2025.

Many smaller projects are spread throughout Pankow.  In French Buchholz, for example, many new projects have been completed in recent years. For example, the 7 new row houses that create a real suburban feeling with lots of greenery, gardeners and balconies. This project in Ferdinand-Buisson-Str. was developed by REAL-Wohn-Wert and was completed in 2021. 

And also in Rosenthaler Str., 16 new residential units will be constructed by Siegl und Albert GbR, probably by the end of 2022. The construction sum is estimated around €3,800,000. 

New construction remains relevant in a district as diverse and large as Pankow. About 100 construction projects have been initiated, built or completed since 2020 alone. We have collected them for you in our project map and will keep you up to date in our market reports. 

Neighbourhoods in Berlin Pankow

The district of Pankow comprises 13 quarters. Pankow itself is a district and a quarter at the same time. With about 71,500 inhabitants, Pankow is the most populated quarter, followed by Niederschönhausen with about 30,000 people. Almost 18,500 people live in Französisch Buchholz and almost 16,000 in Buch. We have prepared specific reports for Prenzlauer Berg and Weißensee due to their USPs. Pankow offers a wide range of residential locations, from villa districts to classic new development areas with detached houses to solid and modern mixed buildings. The Florakiez is one of the most sought-after residential areas in the district. Those who prefer it more sophisticated will look around in the Mayakovskiring, where almost the entire political VIPs resided in GDR times. The villas and representative rental and multi-family houses are in great demand. Almost all locations have in common a low unemployment rate and high per capita and household incomes. Good schools and the very well preserved old buildings, depending on the district, ensure a sustainable influx. Nevertheless, the pressure on the housing market is significantly lower than in other districts.

Rental market in Berlin Pankow

The average offered rent in Berlin-Pankow is 12.35 EUR/m² taking into account the offers of the last quarter. In the 12-month period, 1,170 rental offers were brought to the market. During this time the price development was about 2.20 %. New apartments in Pankow are currently being offered at an average price of 22.00 EUR/m². The price correction to the previous year is about -6.70 %

Rent index Pankow

Period Existing buildings Median Offer price Index (base 10 years = 100) New buildings Median Offer price Index (base 10 years = 100)
Current quarter 12.35 EUR/m² - 22.00 EUR/m² -
1 Year 12.10 EUR/m² 2.20 % 23.55 EUR/m² -6.70 %
3 Years 10.50 EUR/m² 17.80 % 17.20 EUR/m² 28.00 %
5 Years 10.55 EUR/m² 17.10 % 13.45 EUR/m² 63.30 %

Bird's eye view: Asking rents in Berlin Pankow

The Bubble Chart shows the supply situation of the last 12 months for the property market in Pankow. The colors indicate the year of construction classes, the size of the bubbles the quantity of offers, the location in the coordinate system the price radius (square meters) and apartment sizes.

Development of property price segments in Berlin Pankow

The development of rents in Pankow is moderate. The shifts between the price segments reflect the slightly less tense situation compared to other districts.

Building activity in Pankow

Pankow is the northernmost district of Berlin and has the highest housing stock with 165.000 units directly after Neukölln. Pankow comprises 12 statistical planning areas LOR (Lebensweltlich orientierte Räume). At 73.0 m², the average apartment size is in line with the Berlin average. The statistical household size is 1.78 persons per household and is thus among the top 5 in Berlin. Mathematically it amounts to 2.05 persons per household. Throughout Berlin, Pankow has one of the smallest disparities between the statistical and the calculated household size.

In the last few years, construction activity in Pankow has been consistently high. When and in which quarters (LOR) construction completions were reported, can be seen from the map. (Source: Amt für Statistik Berlin-Brandenburg)

Milieu protection

In the district of Pankow, as of January 2019, two milieu protection areas are in force.

Milieu protection area In force since Area in ha Extended Last update
Pankow Zentrum 2000 121.1 2013 -
Pankow-Süd 2017 30.3 - -

Milieu protection map Pankow

Check in our milieu protection map Berlin whether your property is located in a protection area, an investigation area or a suspected area. Our milieu protection map is continuously revised and updated on basis of the resolutions of the district assemblies (BVV). Please also visit our milieu protection area for further information.

Population by nationality

Migration

While other districts are losing domestic residents, in Pankow most new arrivals come from Berlin. Altogether, the population growth is supported by three pillars: Berlin, international, national. In the suburban relationship, there is much more migration than immigration. Many international migrations currently originate from countries without further specification. In the exchange with the federal states, the majority of new arrivals and departures come from Brandenburg.

  • All migrations
  • International
  • National
  • Suburban
  • Binnen
  • Hotspot

This report was last updated on 23.02.2024 .

Disclaimer

The Guthmann Market Report is a semi-automated report about the property market in Berlin. All information has been carefully researched and is given to the best of our knowledge and belief. We assume no liability for completeness, deviations, changes and errors. Our report does not represent an investment recommendation.

Sources

Amt für Statistik Berlin-Brandenburg: Einwohnerregisterstatistik (Bewegungsdaten), Fortschreibung des Wohngebäude- und Wohnungsbestandes, Ergebnisse des Haushaltegenerierungsverfahren KOSIS-HHGen, Baufertigstellungen. IMV GmbH: Rohdaten Preise und Mieten. Senatsverwaltung für Stadtentwicklung und Wohnen: Umwandlungsdaten (2018), Geoportal Berlin (FIS-Broker). Immobilienverband Deutschland IVD (2018/2019): Immobilienpreisservice 2018/2019.

Methodology

Housing deficit (Treemap): The Statistics Office updates the household data based on the 2011 micro-census. Determination of household count and statistical household size via household generation procedures (KOSIS). We calculate the real household size / housing deficits via the ratio number of inhabitants to number of apartments.
Purchase prices and rents (charts and reports): Calculation of the median on the basis of raw data, own visualization.
Migrations: Aggregation and visualization based on transaction data.

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