Berlin Properties Wedding 2023

Welcome to Elektropolis

Berlin-Wedding is a central inner-city district which, together with Gesundbrunnen, stretches from Tegel Airport to Brunnenstrasse in the Berlin-Mitte district, from Prenzlauer Berg to Mauerpark and from Pankow to Wollankstrasse. To the west, the district borders Tegel Airport and the Quartier Napoleon. There is hardly a more heterogeneous urban district. Wedding is gradually reinventing itself and the coming decades will be marked by far-reaching structural change. Since 1887, the district has been firmly connected with the electrical industry and the name AEG, with huge areas on Brunnenstrasse / Voltastraße and Ackerstrasse. Since the 1980s and increasingly after the fall of the Berlin Wall, large industrial areas have been developed into diverse, small-scale business locations with services, production, science and university uses.

Property prices Wedding

Real estate prices in Wedding did only catch up late with the overall development in Berlin. In the 10-year period the average offer price for apartments increased by 213.50 %, from 1,490 EUR/m² to 4,660 EUR/m². In Gesundbrunnen, the average offer price is slightly higher than in the other Wedding locations. Contrary to the Berlin trend, the number of properties on offer is currently increasing. With 1,110 the number of properties (existing apartments) offered on the market was significantly higher than in the same period of the previous year. The price development in the 12-month period is 6.40 %. New construction activity is high. In the 12-month period 100 newly built units were placed at an average list price of approx. 8,050 EUR/m², with a price corridor reaching just over 8,000 EUR/m². The closer to Berlin Mitte, the higher the offer 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. Over 6.000 EUR/m² mostly new construction properties are offered.

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

The district of Berlin-Wedding profits from its location, which unfolds its potential on multiple sides. At the interface with Mitte, the districts are growing together and leading to an upgrading of formerly basic residential areas. In these areas Wedding is perceived as Berlin-Mitte. The conditions are good and investments are promising even under the conditions of milieu protection areas. On the other hand, the structural transformation of the former TXL airport into a technology and science hub will have a strong impact on the western part of Wedding. At the same time, the central city locations of Mitte are growing ever closer to Wedding and Gesundbrunnen. The nearby headquarters of the Federal Intelligence Service (BND) on Chausseestrasse is creating a demand pull that is affecting the residential areas of both districts. In addition, the building typology, dominated by old buildings dating back to 1920, leaves room for development. The submarket for apartment buildings in Gesundbrunnen is somewhat smaller and more expensive than the submarket for apartment buildings in Wedding.

As an investment, real estate in Wedding is a clear recommendation. Dynamics and prospects remain at a top level despite regulation. Market entry is currently possible at moderate entry prices with very good development opportunities.

Apartment buildings Wedding

10 years ago, apartment blocks in the Wedding district were still being offered on average at 1,140 EUR/m², unthinkable today. The median value of notarised transactions until 31.10.2022 was EUR/m² 2,189 (GAA). The offer volume will continue to decline in 2022 despite a large building stock. The rental demand overhang in Berlin-Wedding is high, which has caused average asking rents for new lettings to rise by 15.30 % to 12.50 EUR/m² in most neighbourhoods despite predominantly simple residential locations. Overall, however, the situation on the rental market is calmer than in previous years. The price range of EUR/m² 1,519 until 3,867 reflects the very different locations and building classes. The highest prices per square metre are realised in Chausseestraße and in trendy neighbourhood locations. Due to the small number of cases, statements on the achievable factors and prices per square metre can only be made to a limited extent. We would be happy to accurately determine the market value for your apartment building in Wedding and discreetly arrange an off-market buyer from our clientele.

New construction Wedding

It is a characteristic of places with a promising future that one often does not even notice when they have arrived in the present. In the tradition-rich industrial and working-class district of Wedding, for example, the structural change from an industrial district to a science and research hub has proceeded steadily, but often unnoticed by outsiders. For years, the smooth transition to the expensive neighborhoods in Mitte was regarded as the most important quality of location, while the actually interesting spots evolved in the background. Great neighborhoods along the Panke, the (hyper) active life along Müllerstrasse, the Soldiner, Gesundbrunnen and Schillerpark neighborhoods, which are particularly popular among young internationals. All of this is Wedding. 

Bayer recently confirmed its commitment to Berlin and Wedding with a 100 million investment in a high-tech center where it produces and exports to 130 countries. In any case, the company's global pharmaceutical headquarters with 5,000 people, about 2,000 of whom are engaged in research, is located in Berlin. 

In addition to corporations, start-ups and young companies have also settled in the many commercial courtyards in Berlin Wedding. Together with many thousands of students, these young professionals form an important customer market for interesting new construction projects. Developers such as Cosimo Construction have recognized this for a while now and will soon provide more than 600 apartments on around 30,000 m² GFA with a project in Iranische Straße. No small project, therefore the end of construction is not yet fixed, the costs can be estimated at at least 80 million euros. 

In Holländerstaße, a large residential complex is currently in planning by Stattbau. Approximately 390 residential units on four floors are supposed to be realized. The construction sum is estimated to be around 50 million euros. The start of construction and the time frame for this new building project in Wedding are not yet set. 

Not everything in Wedding is so voluminous. For example, an apartment building by Covivio, where around 35 apartments will enrich Sprengelstrasse in 2023.

Wedding is one of the most popular districts for new construction projects. We have researched and listed around 30 new construction projects from 2020 to 2022 in our project map. 

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 -6.60 %. In this time 1,350 units were offered. The average offered rent is 12.50 EUR/m². The comparative rent 12 months ago was 13.40 EUR/m². Opposite to portfolio units the rents in the submarket for new constructions are going up rapidly and are currently at approx. 27.00 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.