From polit-bonzen to bourgeois eastern district
Property market Pankow
The district of Pankow with over 397,400 inhabitants, 13 neighbourhoods and an area of over 100 square kilometres is larger than many medium-sized cities in Germany. Located in the north-east of Berlin, the bourgeois district borders on the districts of Lichtenberg, Friedrichshain, Kreuzberg, Mitte and Reinickendorf and is at the same time the city border to the counties of Oberhavel and Barnim in the neighbouring State of Brandenburg.
Pankow was considered privileged in GDR times; the district was the preferred residential area of high-ranking members of the GDR government. The embassy quarter was also established here. The political greats from GDR times are no longer to be found in the former renowned district and the big embassies moved their headquarters to or near the government quarter. Smaller, less wealthy nations, however, still have their representation here.
Property prices in Pankow
Pankow covers 14 districts in our price analysis. These are Buch, Blankenfelde, Niederschönhausen, Französisch Buchholz, Karow, Blankenburg, Heinersdorf, Märchenland, Rosenthal, Wilhelmsruh, Niederschönhausen, Pankow (centre), Weißensee and Prenzlauer Berg. Prices within Pankow vary considerably in some cases. Please contact us for a specific location assessment of your property. The values for Prenzlauer Berg and Weißensee are analysed separately in the corresponding district reports.
Viewed across the entire district, property prices in Pankow have risen substantially in recent years. In the 12-month period, as of the third quarter of 2018, the average offer price for flats was approximately EUR 4,450/sqm. The annual price increase in Pankow is between 10 and 12 percent.
Attics and penthouse apartments declined in the 12-month period. In a Berlin comparison, prices are at a medium level. What has a dampening effect on the market for apartment buildings is price-driving in the market for condominiums: the high number of existing milieu conservation areas, as of 2018, makes 13 of them subject to the Conversion Ordinance German: Umwandlungsverordnung). Overall, the number of apartments on offer has been falling for years and the units offered on the market are consequently priced higher. Living space is declining. In 2007 the average size of an apartment was 97 square meters, in 2018 it was only 85 square meters.
Housing market Pankow Price segments
The housing market in the Pankow district is characterised by radical regulation through milieu conservation areas, in which the Conversion Ordinance (Umwandlungsverordnung) de facto prohibits the creation of owner-occupied housing. Who wants to be a property owner in Pankow, encounters difficulties. 13 areas are already subject to the conservation statutes: Falkplatz, Arnimplatz, Humannplatz, Ostseestraße/Grellstraße, Pankow Zentrum, Kollwitzplatz, Bötzowstraße, Helmholtzplatz, Winsstraße, Pankow-Süd, Langhansstraße and the Komponistenviertel. Further information on milieu protection can also be found here.
Growth through immigration and births
Births and immigration are expected to continue to have a positive impact on the district's population in the coming years. In the case of internal migration, i.e. migration to and from other Berlin districts, Pankow gains the most citizens from the districts of Prenzlauer Berg and Wedding, followed by Spandau. On balance, the mega district loses most of its inhabitants to Köpenick. Most immigration from Romania, Poland and Bulgaria takes place throughout the EU, while the classic Western European countries show a tendency towards outward migration, i.e. negative balances.
Pankow: Influx and outflux European Union 2017
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Glamorous mansion quarters, classic new buildings and modern areas of multiple dwelling units
The high number of 13 urban districts offers a variety of residential areas and concepts of living. It goes from glamorous mansion quarters, classic new buildings and single-family houses to solid and modern areas of multiple dwelling units such as the one in Französisch-Buchholz. Large urban districts of Pankow are Prenzlauer Berg and Weißensee. Smaller urban districts such as Blankenfelde and Rosenthal usually do not make it feel like living in a big city at all.
One of Berlin’s most popular neighborhoods is the “Florakiez”, which is located around the train stations (U-Bahn and S-Bahn) of Pankow. The lively and green neighborhood was highly demanded in the past years and changed from an insider tip to hyped residential area. This is also why people who want to live here need to have the according budget. Real estate Berlin-Pankow is highly demanded. In order to control rental prices, luxury redevelopments are prohibited since January 2013.
Majakpwskiring is one of the fancier areas and was home to many politicians during the GDR. The mansions, apartment complexes and multiple dwelling units are all well-kept. Not only very different residential areas but also a population from young to old is part of Pankow’s character. Positive aspects of the district are the low unemployment rate, a comparatively high per-capita income, good schools, comparatively low rental prices and well-kept buildings.
Potential for innovations: biotechnology and economic systems for health
The innovative potential of Pankow is quite high due to the heterogeneous structure of industries. The urban districts are each focusing on different segments. Creative businesses are located in Prenzlauer Berg, a competence center for rail vehicle can be found in Wilhelmsruh, Weißensee is the base for mechanical engineering and small businesses. Buch is a developing location for biotechnology. The location is characterised by a comprehensive approach that encompass research of the causes of disease, the innovation of new medications and patent orientated clinical research. Parts of the economic base are institutions and research centers like Leipniz-Institut for molecular pharmacology, Max-Dellbrück-Centrum for molecular medicine (MDC) and the Biotechpark with a center for innovations and development.
Living in Pankow
Pankow has the highest population of 390.000 residents and is the second largest district of Berlin. The positive development of population is expected to continue in the coming years if birthrates and immigration to the district will go on. Even in 2015 the population of residents between the age of 0-18 years (17,43 percent) was higher than the one of seniors over 65 years (15,14 percent). Elementary schools are reaching their capacities because of the high numbers of first to six graders. The building of new schools is already planned because young families keep on moving to the district. Great recreation opportunities for kids are already given with the farm “Pinke-Panke”, the theater “Varia Vineta” and the sports club “Baba”.
Adults get the chance to enjoy a nice walk through Bürgerpark along the river Panke. Another beautiful park to spend the free time at is the park around the castle of Schloss Schönhausen. The castle itself is also worth visiting with its baroque architecture and furniture of the 18th century.