The edition (N° 20594) from the 9th of april 2011 of the french newspaper Le Monde contains a special issue about the development of real estate prices in the big european cities. In difference to most of the major cities, where the prices exploded, Berlin remains affordable.
Although prices in Berlin also have risen since 2006 about 14%, having a record year in 2010 (+7,9%), the property prices are still far below the prices of other European capitals as Paris or London. Today, the prices lay between 1000 – 4000 € per m² in the most chic districts such as Mitte or Prenzlauer Berg, slightly lower in Kreuzberg and Friedrichshain.
According to the article the Berlin housing market was underestimated for a long time and now slowly is starting to adapt to the prices of other German cities. This rising trend is also influenced by the economic boom in Berlin. More and more business companies are settling in the city, followed by a young working population. Foreign investors have also recognized the potential of Berlin and take part in the price increase.
The article cites our associate Arnaud Schott, who explains that the advantages of Berlin are the recently renovated residential buildings, attractive prices and the system of maintenance funds that allow to keep the building in good conditions. Berlin offers a lot of opportunities for those who want to invest in stone with little risk.
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