Berlin Properties Wedding 2023

Welcome to Elektropolis

Wedding is a diverse, central inner-city district. To the west it borders on the former Tegel Airport, to the east it extends to Mitte and Prenzlauer Berg. Wedding's history is closely linked to the electrical industry and AEG, which was based in large areas on Brunnenstrasse/Voltastrasse and Ackerstrasse from 1887. Since the 1980s, the district has undergone a profound structural change. Large industrial sites have become diverse, small-scale commercial locations, with more and more types of use mixed in. The German government has located its BND headquarters in Wedding. The tech industry is investing, for example in the TXL Urban Tech Republic, an innovative technology campus at the former Tegel Airport. The population is young, colorful, international. The district remains among the top 5 for students.  

Property prices Wedding

Property prices in Wedding have been late to catch up with the overall trend in Berlin. Over the 10-year period, the median asking price for apartments rose by 194.90 %, from a very low price level at 1,550 EUR/m² to 4,580 EUR/m². The offers are stable at a relatively high level. 1,070 Inventory housing units have been offered in the last 12 months. Contrary to the slight downward movement of some districts, housing prices in Wedding have increased by 1.60 % over this period. New construction activity is currently very low. Over the 12-month period, 80 New construction homes brought to market at an average list price of 7,960 EUR/m². The closer to Mitte, the higher the listing prices.

Development of property price segments in Berlin Wedding

Despite rising prices, properties in Wedding are still a favourite with young investors. With the above mentioned prices Wedding ranks in the Berlin midfield. The shift of the price segments from the lower segment (2,000 - 4,000 EUR/m²) to the middle segment has almost been completed. The segment of 4,000 - 6,000 EUR/m² is growing. Almost everything higher than 6.000 EUR/m² is new construction.

Snapshot

The Bubble Chart shows the supply situation over the past 12 months on the property market in Wedding. The colors mark the year of construction classes, the size of the bubbles the quantity of offers, the location in the grid price radius (square meters) and apartment sizes.

Trend in Berlin Wedding

An investment property in Wedding is like a safe bet on the future. Apartments and apartment buildings are a forward-looking investment in what will soon be one of the most important research and production locations for emerging technologies in Europe. In Wedding, a location is defined less by nice little neighborhoods or hip hubs than by the district's enormous potential. Real estate in Wedding will continue to increase significantly in value over long periods of time. The excess demand for rental apartments in Wedding is among the highest in Berlin, whether Humboldhain, Müllerstrasse, Leopoldplatz or further towards Reinickendorf. The starting point is good, too, because purchase prices have not yet completely caught up with the development in Berlin as a whole. 

For capital investors and investors, real estate in Wedding is a clear recommendation. Despite regulations, the dynamics and prospects remain at a top level and entry prices in line with the market allow a very good development opportunity for investors.

Apartment buildings Wedding

10 years ago, multi-family houses in the Wedding district were offered on average at 1,200 EUR/m², unthinkable today. The median value of the notarized transactions, as of 07/01/2023, was EUR/m² 2,189 of living space. With 18 sales of rental houses, Wedding is to date in the upper half of an overall market that is thinning out. According to the latest figures from the Gutachterauschuss Berlin, the spread is EUR 919 to 2,467 for a square meter of relevant floor space. We convert this by a factor of 1.3 to the residential area and come up with the above-mentioned average.

The rental demand overhang in Berlin-Wedding is extremely high, which has caused average asking rents for new leases in most neighborhoods to rise by 14.10 % to 13.45 EUR/m² in 5 years despite predominantly simple residential locations.

The highest prices per square meter are achieved in Chausseestraße and in trendy neighborhood locations. We will be happy to accurately determine the market value for your MFH in Wedding and discreetly arrange an off-market buyer from our clientele.

New construction Wedding

Wedding, a historical industrial district in Berlin, has been gradually transforming into a research and science hub. Its progression might go unnoticed by many but it's already home to various international communities and global companies like Bayer, which recently invested another 100 million Euros in a high-tech center here. 

Besides large corporations, start-ups and young businesses have found a home in Wedding's commercial spaces. They, along with the numerous students, make a vibrant market for new construction projects. Developers, like Cosimo Construction, are planning significant ventures here like a 600-apartment project on Iranische Straße, with an estimated cost of 80 million euros. 

Stattbau also has plans for a sizable residential complex on Holländerstaße, though its construction timeline remains undetermined. Smaller projects, like a 35-unit apartment building by Covivio on Sprengelstrasse, add to the district's diversity.

Wedding is gaining popularity for new construction, with around 30 projects in the pipeline. 

Neighbourhoods in Berlin Wedding

Berlin Wedding is one of Berlin's most up-and-coming districts. The former traditional working-class quarter is undergoing a structural transformation from an industrial zone to a location for science, research and modern services. The Beuth Hochschule für Technik Berlin offers the largest range of engineering courses in the region. Eight faculties are spread along Luxemburger Strasse and Amrumer Strasse. Around 12,500 students study here. South of Amrumer Straße lies the Cardiac Centre of the Charité, the Virchow Clinic. However, the future plans for Wedding go even further: The former Tegel Airport, TXL will be transformed into the "Urban Tech Republic". With a campus for urban technologies including a commercial belt, industrial park and urban quarter, Berlin is gaining an international think tank in which concepts and technologies for the cities of tomorrow are being developed. On 495 hectares the Urban Tech Republic will offer space for 20,000 employees, 5,000 students, 1,000 companies and 9,000 apartments. In addition to listed industrial sites and science locations, the spectrum of micro-locations and building types is also large. Along the northern shore, a peaceful old building quarter stretches to Müllerstraße, the main road of the district. The large modernist settlements in the west and north were built in the 1920s and 1930s. In the neighbourhood of Reinickendorf the buildings are lightened, with a lot of greenery. These locations will benefit most from the TXL closure.

Rental market in Berlin Wedding

The development of asking rents in Berlin Wedding over the last 12-month period is 5.00 %. In this time 1,370 units were offered. The average offered rent is 13.45 EUR/m². The comparative rent 12 months ago was 12.80 EUR/m². Opposite to portfolio units the rents in the submarket for new constructions are going up rapidly and are currently at approx. 27.05 EUR/m².  

Bird's eye view: Asking rents in Berlin Wedding

The Bubble Chart shows the supply situation of the last 12 months for the property market in Wedding. 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 rental price segments in Berlin Wedding

Even though new contract rents in Berlin-Wedding are rising, there are still many units in the 8.00 - 11.00 EUR/m² segment available for rent. The mid-price segment is growing. Due to the new construction activities of recent years, more offers are being made available in the upper price segment as well.

Building activity in Wedding

Berlin-Wedding is located in the north of Berlin and consists of 11 statistical planning spaces LOR (Lebensweltlich orientierte Räume). Currently, the housing stock in Wedding amounts to around 87.000 units with an average housing size of 67.4 m². In Wedding, the difference between the statistical household size (1.76 persons) and the calculated household size (2.12 persons) is the largest in Berlin.

There has been a strong increase in construction activity in Wedding over the past 2 years. When and in which quarters (LOR) construction completions were reported, can be seen from the map. (Source: Amt für Statistik Berlin-Brandenburg)
 

Milieu protection

As of January 2019, there are seven milieu protection areas in Wedding. The total area of Weddings is about 1,530 ha, of which about 287 ha are milieu protected areas.

In a first rough screening in 2014, the district office of Mitte had the entire district checked for potential milieu protected areas. Two suspected areas in Moabit and Wedding have crystallized. In 2015, an in-depth study based on the rough screening was carried out. The final report published in January 2016 stipulated that the preconditions for the application of the law had been met for three milieu protection areas in Berlin-Wedding.

Milieu protection map Wedding

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

Since 2013, the majority of inflows into Wedding have come from Berlin, but the district also transfers to other districts. International arrivals are led by Bulgaria, Romania and Poland, followed by Italy, Turkey and France. Wedding has a lively exchange with Brandenburg, North Rhine-Westphalia, Bavaria and Baden-Württemberg. Also in Wedding the excess demand for living space is high, which will drive the price development further positively. Residents in Wedding are particularly attracted to the Oberhavel, Havelland and Barnim. Conversely, in 2017 Oberhavel will continue to lead the inflow into Wedding.