Berlin Properties Pankow 2024

From Political Elite to Family Idyll: The Transformation of Pankow

In the north of Berlin, as part of the administrative district of the same name, lies the smaller locality of Pankow, which during the GDR era was synonymous with the privileges of a small elite. Many high-ranking officials resided here. Long after the fall of the Berlin Wall, especially West Berliners often considered Pankow to be "JWD, Janz weit draußen" (far out in the sticks). The large embassies that were once located here and the political elite of the past state have disappeared along with it. Instead, the district has developed a new, completely different appeal. Today, Pankow is finding more and more friends, even in the old western part of the capital, not least because Pankow has modernized and transformed. Lofts have been developed not only in the representative former Schultheiss malt house from 1874. Apartments were also built in the old Garbáty cigarette factory. For many families today, Pankow is a real and not seldom better alternative to Kreuzberg or Prenzlauer Berg.

Property prices in Berlin Pankow

The current median asking price for existing apartments in the core area of Pankow stands at 5,070 EUR/m². Over the last year, a total of 510 properties in this segment were listed on the market. The price change during this period was -7.30 %.

Across all localities in Pankow (Pankow, Niederschönhausen, Wilhelmsruh, Rosenthal, Blankenfelde, Buch, and Französisch Buchholz), the median stands at 4,780 EUR/m². Here, the development is -4.60 %, highlighting the need for price differentiation by quarter and micro-location.

In the core area, prices are at the aforementioned 5,070 EUR/m², in the family-oriented locality of Buch at 4,570 EUR/m², and in Niederschönhausen at 4,820 EUR/m².

We have recorded 90 new condominiums in Pankow, which were introduced to the market at a median listing price of 7,190 EUR/m². Price development compared to last year: -8.10 %.

Development of property price segments in Berlin Pankow

Development of the housing offer (existing apartments) in Pankow. The chart shows price increases and price segment shifts over the 10-year period.

Location and Type Determine Value Development

In the Pankow district, the real estate inventory is quite diverse. In the family-oriented neighborhoods featuring single and two-family homes, modern row house developments, and an attractive mix of property types, prices—particularly for penthouse apartments in modern complexes—have noticeably increased in recent years. Overall, all segments are currently showing sideways movement, with minor price adjustments here and there. With 890 listings in a year, the market for single and two-family homes in Pankow is one of Berlin's larger sub-markets. The current median asking price stands at 4,880 EUR/m². The price correction compared to the previous year is -1.40 %. Location-adjusted prices vary: in the Pankow neighborhood, the median price is 6,660 EUR/m², in Buch it's 4,550 EUR/m², and in Niederschönhausen it's 6,170 EUR/m². In the new-build segment, 520 properties were listed at a median price of 5,000 EUR/m². Higher existing-home prices are often due to the location.

Clustering of Real Estate Listings in Pankow by Age and Size

The bubble chart visualizes the dynamics of the Pankow real estate market over the past 12 months. Here, the color scheme represents the different construction year categories, while the size of the bubbles indicates the number of listings. The coordinates of the chart map out the price per square meter and the sizes of the apartments.

Trend

Pankow continues to evolve as a magnet for various age groups and lifestyles. While the southern districts, especially Prenzlauer Berg and Weissensee, offer an urban, youthful atmosphere, the northern and northeastern areas exude a more bourgeois, tranquil charm. At the center of this trend is the core district of Pankow, with which many young families readily identify: urban yet relaxed; environmentally conscious but not ideologically charged; well-connected but not overcrowded.

The real estate prices seem well-balanced in light of the quality of living and lifestyle offered. The growing supply of new-build apartments and homes lends additional dynamism to the market, although currently interrupted by rising interest rates. The search for a residential alternative to traditionally "hip" neighborhoods like Kreuzberg or Friedrichshain is leading many people to Pankow, supported by a robust infrastructure, diverse educational offerings, and an international neighborhood. Poles, Italians, Romanians, Britons, Spaniards, and Brazilians are among the top 10 nationalities represented.

Overall, this trend reflects Pankow's future, which for now manifests in stable and very likely soon-to-be rising prices.

Apartment buildings

Compared to more central districts of Berlin, Pankow has a slight oversupply of around 550 apartments. The housing market in South and Central Pankow is relatively "relaxed". In the multi-family homes in Buch and in the mixed residential and commercial buildings in the core district of Pankow, small households averaging 1.74 people are more common. The at least theoretically balanced housing market in Pankow results in a nice, stable, and mostly very well-maintained stock of buildings, ideal for long-term investments. The good substance is reflected in only slightly decreased square meter prices despite the interest rate background. The average multiplier paid in 2023 has dropped more significantly due to the same reason. In the areas of South Pankow and the center, milieu protection areas moderately slow down price development. The price range varies from around 1,200 to about 5,600 EUR/m² of living space. We are at your disposal for an excellent sale of your multi-family house in Pankow.

New construction Pankow

Pankow as we know it today is the most populated and the second largest district in Berlin in terms of area and was formed in 2001 from the former districts of Pankow, Prenzlauer Berg and Weißensee. Its 13 districts, stretching from the northernmost part of Berlin to Torstrasse, feature plenty of greenery and vibrant big-city living, almost contrasting with the rest of Prenzlauer Berg with its narrow development.

The district of Pankow is significantly clearer. There is a lot of construction going on. For example, in recent years one of the largest projects with around 190 residential units has been planned in Wiltbergstrasse. A gross floor area of 29,000 m² on 5 floors is currently planned, and construction is scheduled to begin in July 2022.

With an estimated construction sum of 73 million, several apartment buildings are also planned in Idunastraße and Neukirchstraße. GESOBAU AG is developing a gigantic project here with 430 residential units, 883 parking spaces and a 500 m² commercial and retail area. Construction is scheduled to start in 2023 and be completed in 2025.

Many smaller projects are spread throughout Pankow.  In French Buchholz, for example, many new projects have been completed in recent years. For example, the 7 new row houses that create a real suburban feeling with lots of greenery, gardeners and balconies. This project in Ferdinand-Buisson-Str. was developed by REAL-Wohn-Wert and was completed in 2021. 

And also in Rosenthaler Str., 16 new residential units will be constructed by Siegl und Albert GbR, probably by the end of 2022. The construction sum is estimated around €3,800,000. 

New construction remains relevant in a district as diverse and large as Pankow. About 100 construction projects have been initiated, built or completed since 2020 alone. We have collected them for you in our project map and will keep you up to date in our market reports. 

Neighbourhoods in Berlin Pankow

The district of Pankow comprises 13 quarters. Pankow itself is a district and a quarter at the same time. With about 71,500 inhabitants, Pankow is the most populated quarter, followed by Niederschönhausen with about 30,000 people. Almost 18,500 people live in Französisch Buchholz and almost 16,000 in Buch. We have prepared specific reports for Prenzlauer Berg and Weißensee due to their USPs. Pankow offers a wide range of residential locations, from villa districts to classic new development areas with detached houses to solid and modern mixed buildings. The Florakiez is one of the most sought-after residential areas in the district. Those who prefer it more sophisticated will look around in the Mayakovskiring, where almost the entire political VIPs resided in GDR times. The villas and representative rental and multi-family houses are in great demand. Almost all locations have in common a low unemployment rate and high per capita and household incomes. Good schools and the very well preserved old buildings, depending on the district, ensure a sustainable influx. Nevertheless, the pressure on the housing market is significantly lower than in other districts.

Rental market in Berlin Pankow

The average offered rent in Berlin-Pankow is 12.50 EUR/m² taking into account the offers of the last quarter. In the 12-month period, 1,180 rental offers were brought to the market. During this time the price development was about 5.50 %. New apartments in Pankow are currently being offered at an average price of 21.15 EUR/m². The price correction to the previous year is about -9.60 %. 

Bird's eye view: Asking rents in Berlin Pankow

The Bubble Chart shows the supply situation of the last 12 months for the property market in Pankow. 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 property price segments in Berlin Pankow

The development of rents in Pankow is moderate. The shifts between the price segments reflect the slightly less tense situation compared to other districts.

Building activity in Pankow

Pankow is the northernmost district of Berlin and has the highest housing stock with 165.000 units directly after Neukölln. Pankow comprises 12 statistical planning areas LOR (Lebensweltlich orientierte Räume). At 73.0 m², the average apartment size is in line with the Berlin average. The statistical household size is 1.78 persons per household and is thus among the top 5 in Berlin. Mathematically it amounts to 2.05 persons per household. Throughout Berlin, Pankow has one of the smallest disparities between the statistical and the calculated household size.

In the last few years, construction activity in Pankow has been consistently high. When and in which quarters (LOR) construction completions were reported, can be seen from the map. (Source: Amt für Statistik Berlin-Brandenburg)

Milieu protection

In the district of Pankow, as of January 2019, two milieu protection areas are in force.

Milieu protection map Pankow

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

While other districts are losing domestic residents, in Pankow most new arrivals come from Berlin. Altogether, the population growth is supported by three pillars: Berlin, international, national. In the suburban relationship, there is much more migration than immigration. Many international migrations currently originate from countries without further specification. In the exchange with the federal states, the majority of new arrivals and departures come from Brandenburg.