Berlin real estate market is still on the up.
The Berlin real estate market is still on the up. The figures of the advisory committee for the 1st half of 2015th show that the number of purchase contracts increased by 31 percent to 16,042 contracts compared to the 1st half of 2014. The turnover has risen during the same period by 43 percent to 6.3 billion euros. Sales of condominiums take the largest share with around 66 percent of the transaction in the Berlin real estate market. The number of transactions has risen by 39 percent to 10,520 in the 1st half 2015th. The money turnover increased by 57 percent in condos summing up to 2.3 billion euros.
In the market for plots and buildings sales of single-family houses take the largest share with around 67 per cent of all transactions. The number of transactions for single-family homes rose by 33 percent to 1,426 in the 1st half 2015 and also increased significantly.
The growth of money turnover by 45 percent to EUR 0.5 billion even is even more significant.
Over all submarkets of the Berlin real estate market, a price increase of at least 10 percent compared to 2014 can be observed. “The price increases in the real estate market makes clear that much more land has to be created," says Engelbert Lütke Daldrup, State Secretary for Building and Housing, the report.