Last Update: 19.05.2024

Berlin Properties Wedding 2024

This is where the future is being made. The former industrial and working-class district of Wedding has developed into a center for modern services, science and research. The whole thing is no coincidence: The strategic location between Mitte, Siemens and the Urban Tech Republic make Wedding a safe bet. Apartments in Wedding easily go up to 6,500 EUR/m², depending on the location. The median is 4,400 EUR/m².

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.  

Existing buildings

Median Asking price
4,400 EUR/m²
-5.70 %
Median Asking rent
12.25 EUR/m²
+5.70 %

New buildings

Median Asking price
7,500 EUR/m²
-0.80 %
Median Asking rent
25.40 EUR/m²
-4.90 %

Property prices Wedding

Property prices in Wedding took a while to catch up with the overall development in Berlin. Over a 10-year period, the average asking price for apartments increased by 125.00 %, from 1,950 EUR/m² to 4,400 EUR/m². Listings have stabilized at a relatively high level. 1,010 existing apartments were offered in the last 12 months. Recently, asking prices in Wedding have decreased by -5.70 % amidst high interest rates and inflation. New construction activity is currently very low. In the 12-month period, 100 new-build apartments were introduced to the market at an average list price of 7,560 EUR/m². The closer to Mitte, the higher the purchase prices.

Price index Wedding (existing buildings)

Period Existing buildings Median Offer price Index (base 10 years = 100) New buildings Median Offer price Index (base 10 years = 100)
Current quarter 4,400 EUR/m² - 7,500 EUR/m² -
1 Year 4,670 EUR/m² -5.70 % 7,560 EUR/m² -0.80 %
3 Years 4,180 EUR/m² 5.10 % 6,500 EUR/m² 15.50 %
5 Years 3,880 EUR/m² 13.30 % 5,760 EUR/m² 30.20 %
10 Years 1,950 EUR/m² 125.00 % 2,790 EUR/m² 168.40 %

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.

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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

A decade ago, apartment buildings in the Wedding district were typically marketed at below 1,000 euros per square meter. The current average for recorded deals now hovers around 2,040 EUR/m². The interest rate climate in 2023 applied downward pressure on sales, square meter pricing, and yield factors. Last year witnessed the widest spread to date: prices ranged from 560 to 3,250 euros per square meter of living space, encompassing all conditions and locations. Demand in Berlin-Wedding far exceeds supply, which has propelled the average rental rates on new leases in many areas up by 4.10% to 12.30 EUR/m² over five years, despite the simple living conditions and building styles. The average yield factor for income properties stands at 24.1, with the median slightly lower.

The premium square meter prices are found on Chausseestraße and in fashionable neighborhood spots. We specialize in precisely assessing the market value of your multi-family property in Wedding and facilitating a discreet, off-market sale to a purchaser from our extensive client network.

MFH Wedding: Werte und Entwicklung

Jahr
Year
Vorgänge
Transactions
Mittelwert
Average
Vielfaches
Multiplier
2018 55 2.268 33,7
2019 29 2.429 31,9
2020 65 2.489 27,3
2021 43 2.520 35,4
2022 31 2.660 27,1
2023 28 2.043 24,1
Quelle: Gutachterausschuss Berlin, eigene Auswertung und Darstellung

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 5.70 %. In this time 1,090 units were offered. The average offered rent is 12.25 EUR/m². The comparative rent 12 months ago was 11.55 EUR/m². Opposite to portfolio units the rents in the submarket for new constructions are going up rapidly and are currently at approx. 25.40 EUR/m².  

Rent index Wedding (existing buildings)

Period Existing buildings Median Offer price Index (base 10 years = 100) New buildings Median Offer price Index (base 10 years = 100)
Current quarter 12.25 EUR/m² - 25.40 EUR/m² -
1 Year 11.55 EUR/m² 5.70 % 26.70 EUR/m² -4.90 %
3 Years 10.50 EUR/m² 16.30 % 20.05 EUR/m² 26.90 %
5 Years 11.80 EUR/m² 3.60 % 16.75 EUR/m² 51.70 %

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.

Milieu protection area In force since Area in ha Extended Last update
Leopoldplatz 2016 62.1 - -
Seestrasse 2016 48.6 - -
Sparrplatz 2016 51.3 - -
Humboldthain Nord-West 2018 15.8 - -
Kattegatstrasse 2018 14.0 - -
Reinickendorfer Strasse 2018 41.0 - -
Soldiner Strasse 2018 54.8 - -

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.

Population by nationality

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.

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

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This report was last updated on 19.05.2024 .

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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