Berlin Properties Pankow 2023

Formerly VIPs, today families

Located in the northeast of Berlin, Pankow borders four Berlin districts and is also the city's boundary to neighbouring Brandenburg. Pankow was considered privileged in GDR times; beyond barriers, the district was the preferred residential area of high-ranking members of the GDR government. The embassy quarter also established itself here. Political greats from GDR times are no longer to be found in the former prestigious district and the big embassies moved their headquarters to the vicinity of the new government quarter. Long after the fall of the Berlin Wall, West Berliners in particular felt Pankow to be "JWD, janz weit draußen" what means"far, far away". Pankow is not sleepy anymore. On the contrary, the district is finding more and more friends in the old western part as well. The reason for this is certainly that Pankow has modernised. The representative former Schultheiss malt house from 1874 was converted into lofts. Apartments were also built in the old Garbáty cigarette factory. Today Pankow is probably even more "eco" than Kreuzberg, Prenzlauer Berg or Friedrichshain, which is certainly one of the reasons for Pankow's popularity among young families. 

Property prices in Berlin Pankow

In Pankow the median asking price for stock proeprties (inventory) is currently approx.  5,050 EUR/m². In the 12-month period, 1,350 apartments offered on the market. Pricer development in this period: 1.10 %. New construction activity in the submarket for condominiums is high. 510 objects were launched in the 12-month period with an average list price of 7,600 EUR/m². The price correction to the previous year in the new construction segment was 8.50 %. As reported, the offer prices in Pankow differ according to quarters. In Buch the offer prices with 5,000 EUR/m² are currently at the lower end of the price scale, in Niederschönhausen with 5,000 EUR/m² in the upper range.

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.

Bird's eye view: Property Prices 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.

Family houses in Pankow

With 720 offered houses in 12 months, the market for detached and semi-detached houses in Pankow is one of the larger submarkets in Berlin. Currently, average offer prices of 4,990 EUR/m² are set for existing properties. The buyers shift from the apartment market to the house market is reflected in the price development. In the reference period 12 months ago the average offer price was 6,240 EUR/m². The price correction over 12 months is approx. -20.10 %. Adjusted for the location, the offer prices in Pankow (quarter) are 10,000 EUR/m², in Buch 4,710 EUR/m² and in Niederschönhausen at 5,680 EUR/m², each in the inventory. In the submarket of new construction in the past 12 months 410 Objects were offered at an average list price of 5,700 EUR/m². The partially higher price in the inventory is explained by location qualities.

Trend

Pankow as a district is home to some of the most beautiful locations in Berlin and appeals to all age groups. From south to north, the hip factor decreases and the quality of life increases: Still very hip in Prenzlauer Berg and Weissensee, more bourgeois towards the north and rural towards the east and north-east. The small district of Pankow is one of the most popular residential areas in Berlin for young families. Urban but not stressful, eco but not dogmatic, central but not overcrowded. Considering the qualities of the individual locations, the property prices in Pankow do not seem expensive. A very large supply of flats in the new-build segment, relatively large flats and an equally large supply in the housing market exert a powerful attraction. Those who move to Pankow are not looking for a second Kreuzberg, Prenzlauer Berg or Friedrichshain, but for an alternative. A good range of schools and very charming, small-town neighbourhoods with good connections are ideal conditions for young communities. The migration figures show that it is not only the USA or hip neighbourhoods that determine the influx. At the district level, the mix is colourful: Poles, Italians, Romanians, Britons, Spaniards and Brazilians in the top 10. 

Apartment buildings

If the number of population registered, including secondary residences, is put in relation to the official average household size (Office of Statistics), the housing deficits in Pankow are significantly lower than in more centrally located districts. Multi-family houses with an average of more than 6 parties can be found mainly in Buch and in the district of Pankow (the quarter, not the district). In the latter case, without error tolerances, there are mathematically just under 1,800 flats missing to reach the average household size of 1.74 persons. The housing market in the quarters in Pankow thus appears more balanced on the whole than in the rest of the city. In 2018 the total migration balance was slightly less with about 1,556 persons than in 2017 (+1,900). The number of offers for apartment buildings in Pankow is declining in line with the Berlin trend, which is increasing price pressure to some extent. In Pankow South and Pankow Centre milieu protection areas have a dampening effect on price development.

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 12.75 EUR/m² taking into account the offers of the last quarter. In the 12-month period, 1,600 rental offers were brought to the market. During this time the price development was about 12.20 %. New apartments in Pankow are currently being offered at an average price of 23.55 EUR/m². The price correction to the previous year is about 37.50 %. 

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 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.

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.