Microanalysis real estate market Berlin
Housing 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.
Real estate prices in Spandau
At around EUR 2,750/sqm in the first quarter of 2018, the average offer prices for apartments in Spandau are noticeably under the Berlin average. By March, around 290 stock units had been offered on the market in Spandau. With an average marketing time of about 16 weeks per unit, marketing takes more time than in more central districts.
We expect property prices in Spandau to continue to rise. The district is developing into an interesting investment and residential location. The connection to the city centre is excellent and the connection by ICE in the direction of Hamburg/Wolfsburg is also very good. At the same time Spandau is surrounded by green and water.
Price segments in Spandau
Chart: The four 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.
Spandau: Influx and outflux European Union 2017
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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).
Urban and rural
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.
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.