Microanalysis real estate market Berlin
Micro market report Kreuzberg
It was barely 20 years ago when Kreuzberg still carried its genetic make-up as an original working class district. Lowest standards, precarious living conditions in run-down old buildings, outside toilets, the apartments mostly without bath or hot water and almost always stove heating. In the 1970s it seemed more practical to demolish whole blocks of houses and to replace them with functional buildings. Protests by the population prevented the city planners from causing even greater damage. Progressive, modern Berlin is omnipresent in Kreuzberg. Thousands of young people from almost 200 nations live in Kreuzberg, populate the neighborhoods and ensure an agile cultural, street and nightlife 365 days a year. With the fall of the Berlin Wall in 1989, the former border district was suddenly back in the middle of Berlin. The Kreuzberg scene was scattered in newly emerging neighborhoods in Prenzlauer Berg, Friedrichshain and Neukölln. For years, there has been a migration movement that did not stop until the beginning of the new millennium and is now leading to a wave of immigration.
Property prices in Kreuzberg 2018
In Kreuzberg, despite further price increases per square metre, there are signs of a slight easing of the price trend for apartments. In the first quarter of 2018, an increase of "only" 4.4 percent was recorded for the 12-month period despite an increasingly strong shortage in the sub-market for condominiums. However, the overall trend, i.e. further price increases, will persist in 2018. In the period from 2007 to March 2018, the total upward price trend was around 240 percent. The average offering price for all types and sizes of apartments in March 2018 is around EUR 4,750 per square metre of living space. In 2017, double-digit growth rates were only barely missed. With the growing number of milieu conservation areas, supply continues to shrink as a result of the transformation regulation. As a result, the pressure in the existing segment is increasing.
Real estate price segments in Berlin Kreuzberg
Chart below: Shift of price segments between 2007- 2017. The curve shows the development of the average asking price for all apartment types.
Kreuzberg: Influx and outflux (2017)
Even though the district is one of Berlin's most sought-after locations for years now. In internal relations with other districts, the housing shortage in Kreuzberg is reflected by an overall negative migration balance to other districts. Click on the legend to show and hide values. Move the mouse over the bars to find out the number of migration movements.
God save the Queen and Kreuzberg
Below you can see the migration flows between Kreuzberg and the European Union in 2016.
In Kreuzberg, the top 3 is made up of the United Kingdom, Italy and France. Within Berlin, the inhabitants of Kreuzberg are currently moving to other districts where rents and purchase prices for housing are lower. The situation is different with regard to the arrivals and departures of the Member States of the European Union. No Member State shows a negative migration balance.
Kreuzberg: Migration flows European Union 2017
|Denmark and Faroe Islands||77||45||32|
Interactive Kreuzberg Map: Age groups, green areas, duration of residence, election results
Learn more about Berlin-Kreuzberg. Click on the report you are interested in in the interactive map. Where does your peer group live? How multinational is my neighbourhood? How green is Kreuzberg? By clicking on Berlin 2016, you can obtain information for entire Berlin.
Real estate market in Kreuzberg
Kreuzberg went through a structural shift: the reputation improved with the influx of international employers and founders, artists and young professionals settling here. Even though Kreuzberg is very popular, the number of owners living in their apartments (and not renting them out) is only increasing slowly. Kreuzberg continues to be a district of renters and it is not surprising that the vacancy rate is very low.
What the population and living in Kreuzberg is like…
The structure of Kreuzberg’s population is dynamic and ever changing. Half of the 151.500 (2015) people living here have a migration background. Students, who moved here years ago because of low rental prices, are becoming young professionals and starting their family. They cover the middle class of Kreuzberg and are part of the reason why the buying power in Kreuzberg is rising. Young residents and international visitors value the variety of pubs, bars, clubs and the diverse music scene.
Kreuzberg is diverse and multi-cultural with its galleries, bookstores, clubs, cafés, showrooms and artist scene. Also the alternative health scene settled here. Besides the alternative part of Kreuzberg exclusive restaurants and boutiques can be found, which goes back to the rising buying power. Not long ago the restaurant “Horvath” at Paul-Linke-Ufer got its second star from “Guide Michelin” (a guide for restaurants, hotels and travel).
Thousands of visitors come to Kreuzberg every year for events like the carnival of cultures and the street festival on the 1st of May. Many tourists prefer staying in Kreuzberg during their stay in Berlin to experience the culture and events here. The number of holiday flats got higher and higher throughout the years, which is why the prohibition of misuse has been introduced.