Berlin Properties Spandau 2023

Spandau 2.0: The Phoenix of Berlin's Northwest

Forget the old industrial shell: Spandau is about to make an extraordinary comeback. Wedged into the north-west of Berlin and closely linked to the thriving Brandenburg region, this Berlin district is turning its apparent disadvantages into advantages. The lack of official "future locations" has not stopped it from becoming a future magnet for investment and innovation.

This is not a slow development, but a complete reinvention. Vacant industrial sites are transforming into chic residential neighbourhoods, and derelict land holds plenty of potential. Gartenfelder Island is the latest flagship of this transformation, shining a spotlight on an often overlooked part of the city. The closure of TXL Airport has further driven this metamorphosis and set the stage for major projects that will redefine Spandau's role in Berlin's future.

Property prices in Berlin Spandau

Despite its large area and diversity, the housing market in Spandau is relatively compact. With a number of 1,240 properties offered in the past year and an average offer price development of -6.90 %, Spandau stands out as a stable market.

In the new construction segment, there is still quite a bit of activity despite stagnation. 170 apartments were offered in the past 12 months, with an average listing price of 6,450 EUR/m². The difference compared to the previous year is 5.30 %. In the neighborhoods of Haselhorst (4,210 EUR/m²), Gatow (4,700 EUR/m²), and Kladow (4,240 EUR/m²), the higher-end segment is catered to. In the large housing estates, apartments are offered at a price per square meter below 3,800 EUR/m².

From luxury apartments in Haselhorst, Gatow, and Kladow to more affordable options in large housing estates, Spandau offers an impressive range of property options.

Development of property price segments in Berlin Spandau

The chart shows the changes in the price structure of the district based on four price segments. How many apartments were offered in the different price segments? The line shows the development of the average offer price across all apartment types and price segments for existing apartments.

Bird's eye view: Property Prices in Berlin Spandau

Supply situation of the past 12 months on the property market in Spandau. The colors mark the year of construction classes, the size of the bubbles the quantity of offers, the location in the coordinate system price radius (square meters) and apartment sizes.

Family Home Market in Spandau Nearly Matches the Volume of Apartment Market

In the past 12 months, we have recorded approximately 1,000 property listings in this segment. The current average asking price stands at approximately 4,640 EUR/m². The price correction compared to the same period last year is -14.30 %. This can be attributed not only to the high interest rates challenging many young families but also to the often basic technical condition of the homes. In the new construction segment, catalog homes are currently offered at an average price of around 5,470 EUR/m². This narrows the price gap between old and new buildings, giving a slight advantage to new, energy-efficient constructions.

Trend

After the fall of the Berlin Wall, the district impatiently awaited the forecasted economic upswing, which is now fully underway due to the revitalization of large areas, the pending repurposing of the TXL airport, and the development of the Siemens Campus. What was once undervalued as industrial wasteland is now viewed as urban development opportunities and being re-conceptualized. Old industrial areas are being repurposed for residential use. The opening of the Havel riverbanks for large housing projects is just the beginning. In addition, Spandau offers a highly attractive counterpoint to the increasing densification within the Berlin Ring. Such an abundance of greenery, water, and recreational value is rare in Berlin. The trend towards remote working will play an important role in Spandau's development: living green while working remotely. Spandau is well on its way to expanding its role as a popular local recreation area in this regard.

Early adopters who invest in Spandau at attractive prices are likely to benefit from this in the future.

Apartment buildings in Berlin Spandau

Spandau is shedding its image as a bargain district for rental houses and is undergoing a calm development of purchase prices that is appropriate to local population and neighborhood structures. In central Spandau and the surrounding neighborhoods, prices in the construction year class from 1900 to 1949 are currently still the highest. Owners of old buildings in good condition were recently able to register noticeable price increases. Currently, both asking prices and notarized purchase prices are declining due to interest rates. We recommend timely rent development for Spandau to compensate for any factor dips that may arise. Give us a call if you want to discuss the market situation for your rental property in Spandau with us.

Related topics: Milieu protection  Rent cap  Residential building report

Neighbourhoods in Berlin Spandau

Almost 210,000 residents, 120,000 apartments, 40 neighborhoods. Spandau is a statement. By the year 2030, a further 11,000 residential units will have been built in various districts of Spandaus. In the StEP Wohnen 2030 (Urban Development Plan), the focus is on the districts of Siemensstadt, Hakenfelde, Haselhorst and Brunsbütteler Damm. Overall, Spandau is expected to see an increase in population in all district regions by about 5.6 percent by 2030. The residential areas in Spandau are contrasting. In the southern districts of Kladow and Gatow, between Havel and Glienicker See, there is a rural atmosphere with the highest income households in Spandau. In the historic town of Spandau, a lively street scene with shops, cafés and restaurants takes place in front of a well-preserved setting of half-timbered architecture. The nearby Spandauer shopping boulevard is one of the largest in Berlin.

Rental market in Berlin

About 1,950 apartments (existing stock) were offered for re-let in the past 12-month period. The average asking rent is currently 11.15 EUR/m². Thus the price correction to the same period one year ago is 18.80 %.

From new building projects about 180 units were offered for an average rent of 18.05 EUR/m². The price correction to the same period last year is -4.40 %.

Development of rental price segments in Berlin Spandau

The Bubble Chart shows the supply situation of the past 12 months on the rental market in Spandau. The colors mark the year of construction classes, the size of the bubbles the quantity of offers, the location in the coordinate system price radius (square meters) and apartment sizes. The rental market in Spandau is dominated by the 1950-1978 construction class. 

Development of rental price segments in Berlin Spandau

The chart shows the changes in the rent structure of the district. How many apartments were offered in the different price segments? The line shows the development of the average offer price per square metre across all apartment types and price segments for existing apartments.

Building activity in Spandau

Currently, the housing stock in Spandau amounts to around 120.000 units across 39 statistical planning areas LOR (Lebensweltlich orientierte Räume). The average apartment size is 74.2 m² living space per apartment and is therefore slightly higher than the Berlin average. With a statistical household size of 1.89 persons per household, Spandau is among the districts with the largest households. Mathematically, the household size amounts to 2.04 persons per household.

In Spandau, around 200 - 400 apartments were built annually in the past years, in 2018 the construction activity increased significantly to around 1,150 completions. 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 Spandau there are currently two conservation areas (milieu protection areas) in accordance with §172 BauGB with a total area of about 214 ha. 

Milieu protection map Spandau

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

There are still no signs of the large projects in Spandau and Reinickendorf-Tegel being measurable in the migration flows. The growth of the district, however, is already being driven more by domestic inflows than by external movements. The large projects at Kurt-Schumacher-Damm (Reinickendorf) and on Gartenfelder Insel will be communal. Suburban Spandau is recording losses into its suburban area. Most of the departures occurred in 2017 to the Havelland district.