Location matters when it comes to buying property in Berlin or investing in it. This can be gauged from news item about the Berlin Wall and the area once occupied by it. Ever since the Wall came down, the area known infamously as the “death strip” is where people are ready to pay high prices for property. There is history here on this strip and memories that go back a long way.
Berlin is about a rich past, a culture all its own and a lifestyle that sets it apart from other metros, which is why locations matter so much. If development along with Wall areas is of recent origin and attracts a premium then there are other properties in specific locations that predate the War and have an old world charm. These properties in Mitte or Charlottenburg-Wilmersdorf as well as Grunewald are the cream of Berlin real estate because they are becoming increasingly difficult to purchase and buyers are ready to pay higher than market prices. Grunewald, Mitte, Friedrichshain-Kreuzberg, Prenzlauer Berg and Charlottenburg-Wilmersdorf are locations where property attracts high prices. Areas such as Lichtenberg, Reinickendorf, Spandau, and Marzahn-Hellersdorf cost half as much. Properties in Pankow and Steglitz-Zehlendorf sit in the middle.
It is not just history and the past that impact property prices. Frtiz Lang filed properties in Metropol Park for his movie Metropolis. These properties are much sought after by film aficionados who are willing to pay higher than current market prices for a piece of nostalgia. The same building served as the Karl Marx Academy.
These are special cases. In general investors wishing to invest in premium properties would do well to head south of Torstrasse and look for properties around Hackescher Markt and Spandauer Vorstadt. When people talk of upmarket areas of Berlin Mitte invariably turns up in the conversation and in Mitte itself Rosenthaler Vorstadt and Oranienburger Vorstadt, though not in Torstrasse, still command good prices. Arkona Platz, Bergstrasse, Ackerstrasse and Gartenstrasse are some of the sought after residential locations in Mitte. Mitte blends in with Prenzlauer Berg around the Teuteborger Platz and this is another area investors can target. In Prenzlauer Berg itself Helholtz Platz, Anton Platz and Kollwitz Platz are considered worthwhile investment areas. Move off to Friedrichshain and the specific locations here are Rummelsburg Bucht, Boxhagener Platz and Simondach Kiez. Treptow East offers Karl Kunger Kiez as a property investment target. Charlottenburg claims Savigny Platz, Friedbergstrasse, the most famous Ku’damm and Westend as worthy locations.
These are but a few of the most worthwhile locations that command high prices whether investors wish to buy now or sell off at some point in the future. Prices of berlin real estate are high but are yet to level off in comparison to prices prevailing in Munich, Frankfurt, Rome and London. Getting hold of property in any of the above areas is not an easy task and investors must also consider future returns so it takes insights to make a considered decision. This is where a Berlin realtor helps.