Microanalysis real estate market Berlin
Micro market report Spandau

Spandau is a district of history and tradition. The castle “Spandauer Burg” has been documented even 50 years before the first official mentioning of Berlin in the year 1237. A settlement developed around the castle, which was reconstructed in the 13th century. The castle was relocated to today’s old town of Spandau and the picturesque architecture is still preserved.
Currently the architecture of Spandau is very mixed and embossed by urban and rural characteristics. Besides the medieval architecture, settlements of single-family houses, apartment complexes, public housing from the 60s and 70s and beautiful waterside areas can be found. The quality of life is very high in Spandau. And still the Heerstraße close to Olympiastadion was considered as the metaphorical border of the city for a long time. Berliner’s only came here to spend their free summer days at the forests or by the waterside.

The access to the public transportation system (BVG) is well-developed. The lines U7, S3 and S75 as well as the ICE railway connection to Hamburg can be used.

For sure Spandau has an important history and traditions but it also has an industrial key function and will be a district of the future. Thanks to the parks, gardens, culture and shopping opportunities it became a popular, lively and charismatic district of Berlin.

60,94
%
Percentage of people between 18 and 65
33,85
%
Internationality (2016)
239.942
Population (2016)
37,82
sqm
Living space per capita
9,82
%
Unemployment levels (06/16)
+5.957
Balance of migration (2016)

Real estate market Spandau

Since the 1970s Spandau started to develop from an industrial location to a residential area. The district was booming in 2016 due to high rising prices for real estate and developable land in the inner circle of Berlin. Outskirts are starting to become more interesting for buyers and investors. Renting and buying apartments in Spandau is still comparatively affordable. On average new tenants were paying 7,67 EUR/sqm in 2016, which is about 0,7 EUR/sqm more than in 2015. It is the second cheapest districts to rent an apartment at. The average apartment size is 73,9 sqm (source: Amt für Statistik Berlin Brandenburg 2016).

Evolutionary stages of the real estate market in Spandau

Chart above: The three different price segments show how the price structure in the district has changed between 2007- 2017. It also describes how many apartments have been offered in each price segment. The curve represents the development of the average offering price of all apartment types and their price segment.

Real estate prices in Spandau

In 2016 the average offering price for real estate in Spandau of 2.300 EUR/sqm was definitely lower than in other Berliner districts. Prices increased about 24 percent, which shows how popular the district and reals estate Berlin-Spandau has become. Around 1.000 properties were offered in 2016 and it usually took 13-14 weeks to sell one. Other than in central districts it takes a little longer to market real estate in Spandau.
New built apartments are also getting more attention today. In 2016 about 150 new apartments were built and offered for an average price of approx. 3.400 EUR/sqm.
We are assuming that real estate in Spandau will continue to become more important and demanded. It definitely will develop into an interesting investment and living area in 2017. The traffic connection into the city as well as to Hamburg and Wolfsburg via ICE are excellent. At the same time Spandau’s green areas and waters are very attractive.

Spandau as an industrial location

Spandau does not only have the advantage of the rural atmosphere, it also is one of Berlin’s most important industrial locations. Medium-sized businesses and global corporations are based in Spandau. One of Europe’s first modern workmen’s dwellings was built by Siemens in 1913 in Spandau’s east at today’s “Siemensstadt”. More than 70.000 people worked there in the 1930s and even more in the supplying industry.
Siemensstadt is still characterized by industrial facilities but not all of the companies are part of the concern Siemens anymore. Today only 20.000 people are working here.

Spandau: district of contrasts

The population and residential areas of Spandau are heterogeneous. In the districts Kladow and Gatow, which are located between Havel and Glienicker See, is an idyllic and rural atmosphere. Many of the single-family houses and mansions were built close to the lake and some even have a direct access. The households in Kladow and Gatow have the highest incomes in Spandau. Most residents are over 45 years old, which is close to the general distribution of the district.

More like a small town than rural area is the old town of Spandau. Historic, well-preserved buildings (including Fachwerkhäuser), shops, cafés and restaurants are located in rustic alleys. The old town definitely has a special charm. Many shopping options are given at the boulevard, which also is Berlin’s largest pedestrian zone.

Another facet of Spandau is represented by the large housing estates.

Around 43,61 percent of Spandau’s residents live in their housing unit for over 10 years, which is 1,6 percent above the average duration in Berlin. The neighborhood “Am Heidelberg” in Staaken is the residential area where people tend to live the longest in their housing unit. The shortest occupancy has been registered in the residential areas of Kurstraße in Hakenfelde.

The number of single-households is relatively high at 49,5 percent. Nevertheless the average size of households is the 3rd highest in Berlin with 1,88 persons per household.

The structures of residential areas in Spandau are very different from each other but they still have one thing in common: many facilities to spend the free time at - for young and old. Among these facilities: one of Berlin’s oldest buildings the “Zitadelle Spandau”. It is one of Europe’s most remarkable renaissance- fortresses.

Top