Microanalysis real estate market Berlin
Micro market report Reinickendorf
Multifaceted real estate in Reinickendorf
Reinickendorf covers everything from rural idyll up to the urban way of living. Frohnau and Hermsdorf are known as the green neighborhoods with many mansions. Lübars has a rural character of living. Konradshöhe, Heiligensee and Tegel are located alongside the river Havel and at the lake Tegler See. In both urban districts (Tegel and Reinickendorf) a mixture of buildings in the Wilhelminian style and from other different centuries can be found. The building density in the center of Tegel is quite closed. Between 1920 and 1965 multiple dwellings were built all around Eichborndamm, Residenzstraße and Alt-Reinickendorf. An economic architecture was used to save money. The settlement “Weiße Stadt” (white city) was built during the golden twenties accordingly to plans by the architect Otto Rudolf Salvisberg. In 2008 the settlement became one of the six UNESCO World Heritage settlements in Berlin.
The construction work of the large settlement “Märkisches Viertel” ended in 1974 and is an urban district today. The settlement is home to 36.000 people, has 12 schools located around as well as a shopping center.
The economic development of Reinickendorf expresses how the district has changed over the decades. Industrial parks are located between residential areas. They were the origin of the industrialization and still are base for high-tech developments of today. On a real estate of the size of 22,5 hectare the “Borsikwerk” (the production plant of the company Borsig) was built in 1898. Housing for the 5.000 workers of the company was built at the same time and is known as the settlement “Borsigwalde”. With the beginning of the 90s the metal processing stopped and the production site got transformed in today’s shopping mall “Hallen am Borsigturm”. Today the settlement Borsigwalde is a family friendly area with various schools and other educational institutions and a well-developed infrastructure. Fifty percent of the architecture here is landmarked.
Post-modern living quarters and a library were built during the international construction exhibit between 1984- 1987 on the former area of the industrial harbor of Tegel. The architecture southern of the Tegler harbor consists of town mansions with 4- 6 apartments, 3 so called “Wohnschlangen” and one “Wohnhof”. The 351 apartments were part of the social house-building project.
Real estate prices in Reinickendorf
Not only the architecture but also the real estate prices in Reinickendorf are heterogeneous. Due to that fact we will view the price per sqm on three different levels: simple, medium and premium locations for living. Alt-Reinickendorf, Borsigwalde, Märkisches Viertel, Saatwinkel and Schulzendorf are counted in as the simple residential areas. Medium locations are Waidmannslust, Wittenau, Heiligensee, Lübars and Tegel. Last but not least the better or premium located parts of Reinickendorf are Hermsdorf, Frohnau and Konradshöhe.
The growth of simple and premium locations in Reinickendorf is moderate.
Even though one of Berlin’s airports is located next to many residential areas, the rental prices are moderate in Berlin Reinickendorf. Compared to the previous year, real estate prices increased around 3,5 percent in the neighborhoods around Eichborndamm, Kurt-Schumacher-Damm and Residenzstraße. The neighborhoods are interesting especially for those who want to get around paying high rental prices for apartments in Berlin’s center but still want the luxury of living in the city and not having to move to the outskirts. Low rental prices are paid for apartments in the multi story buildings at Märkisches Viertel east and west. The average size of apartments in this area is 83 sqm, which is quite big. Smaller apartments can be found westwards of Residenzstraße in Alt-Tegel with an average size of 59 sqm.
The rental market for urban districts at the northern outskirts like Frohnau, Hermsdorf, Heiligensee and Konradshöhe is quite small. Single-family houses and mansions are dominating the green parts of Reinickendorf. With 4.450 EUR per month Frohnau has the second highest household income after tax (source: cbre).
Reinickendorf: base for industry and trade
Reinickendorf continues to play an important role as an industrial location with more than 9.000 businesses currently based there. They all have a positive impact on the employment trend and Berlin’s social product. Industrial locations are for example at Kurt-Schumacher-Platz, Oranienburger Straße, Quickborner Straße, Flohrstraße and Kühnemannstraße. Companies like ALBA, BSR and Berliner Seilfabrik are based in Flottenstraße. Also working in Reinickendorf: the elevator manufacturer OTIS, candy producer Storck and Staatliche Münze Berlin. More than 250 companies are given the best conditions for corporations and synergies at the center for technology and development at “Am Borsigturm”. According to information provided by the Department for Statistics Berlin Brandenburg 52 manufacturing businesses employed 9.564 employees in 2015.
Comparing rental prices for office space in Berlin shows that Reinickendorf has the lowest prices to offer. In 2015 the average rental price for an office was at 7,60€/sqm. One year earlier the price was at 7,50€/sqm, which means a moderate increase of rental prices of 1,3 percent.
Tegel: location of the future
The reuse approaches of Berlin’s airport area once it has been shut down are quite positive for the development of the city. An industrial- and research park with the concept “Urban Technologies” is planned for the 490-hectare large area. Focus will be put on research, development and the production of environmental friendly technologies going hand in hand with a sustainable urban development. Research institutions are going to cover the topics energy, technologies for buildings, mobility, recycling, water and information and communication technologies. It is also planned to open facilities of the Beuth academy and of the Technische Universität of Berlin.
Considering the economic development of the land and city, Tegel is one of the Berlin’s most important locations of the future. And the best conditions are already given as Tegel has an excellent infrastructure and is close to the City-West and its science and research locations.
The green north: living in Reinickendorf
Forests, parks and water: Reinickendorf has all of it. A popular destination is the Greenwichpromenade, which goes along the 5 sq km lake "Tegeler See". Hermsdorf, Frohnau, Konradshöhe, Heiligensee and Tegel are all neighboring the Berliner forest. Greened areas are part of most settlements in Reinickendorf. 8 percent of Reinickendorf's surface consists of parks.
Even though Reinickendorf implements a rural atmosphere there is a variety of public institutions with the character of a big town. A well-developed infrastructure is given thanks to many kindergartens and 60 schools. Children and teenagers can spend their free time on one of the round 70 playgrounds, art academies, music-schools and sports clubs.
The traffic infrastructure is also developed really well: access to public transport systems, the highway A 111 and Bundesstraße 96 take residents and visitors to the inner city within short time.
About 262.000 people are currently living in Reinickendorf with an average age of 45 years. Until 2030 a population growth of 9,4 percent is expected by the Senates Administration for urban development and environment.