Microanalysis real estate market Berlin
Housing report Tegel
Tegel is the first station of a trip to Berlin for around 20 Million Berlin-visitors per year who check in and out in the airport Tegel “TXL”.
Since 2001 Tegel is officially part of the district Reinickendorf. It is known for the airport but is far more than that: an important industrial location and "future location" regarding the energy, traffic, mobility and the production industries. The senate is currently working on plans for the development and utilization of the airport Tegel once it has been closed. The area is supposed to become an industrial and research park with the motto “Urban Technologies”.
Real estate prices in Tegel
According to our analyses, 104 existing apartments were offered on the property market in Tegel in the first quarter of 2018. This value sounds low, but is projected for 2018 as a whole, forecasting more offers than in 2017 with just under 300 apartments. The average bid price currently demanded is EUR 3,200/sqm. The rate of price increase over the 12-month period is around 12 percent. The airport issue plays a decisive role in the price development in Tegel. Everything is open in this part of Berlin. Tegel is considered to be in a very good position for the future. If the airport, which is still in operation, is later developed into a technology hub, a dynamic development of the real estate market is to be expected. Anyone who makes this bet has a promising investment strategy.
Price segments in Tegel
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.
Tegel: Influx and outflux European Union 2017
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Real estate market in Tegel
In the past years the real estate market in Tegel was dominated by uncertainty. Since the closing of airport Tegel was originally planned for the years 2011 - 2013, the prices for real estate went up drastically. The delay of the opening of Berlin’s new airport “BER” led to continued operating in Tegel airport and low rate of price increases since 2014. The low increase was also registered in 2015 but seemed overcome in 2016.
Population of Tegel
Tegel’s population has been constantly growing since 2011. In 2015 a growth of 5,26 percent was registered. Scharnweberstraße and Alt-Tegel are the highest populated neighborhoods of the district. The area around Scharnweberstraße shows an even proportion of children and teenagers under 18 years and seniors over 65 years (both groups have a representation of ca. 16,6 percent). In contrast to that about 30,95 percent of all residents in Alt-Tegel are seniors, whereas only 10,89 percent are between the age of 0-18 years. The sociocultural indicators in Tegel are heterogeneous. Compared to Alt-Tegel the population in the quarters around Klixstraße is very international.
The number of single-households is below the average compared to other districts in Berlin. With ca. 57,28 percent the highest number of single-households can be found in the area of Scharnweberstraße. The area where the most people tend to live in their housing unit over 10 years is around the quarters of Mellerbogen (47,5 percent). In general 40,94 percent of Tegel’s residents live in their housing unit for more than 10 years.
Mix of classical architecture and modern buildings
The quality of living will go up even further once the airport has been closed in Tegel. The access to the public transport system (BVG) and the traffic infrastructure in general are both well-developed.
One of Tegel’s popular settlements is located at “Tegler Hafen” (harbor) and was built between 1984 and 1987. The postmodern architecture was awarded by the international construction exhibit (IBA). Besides Tegler Hafen, the district has beautiful old buildings located in charming old streets. Residents enjoy the greened areas everywhere around the houses and apartment complexes. Almost one quarter of the total area of Reinickendorf-Tegel consists of forests. The quote of vacancy in Tegel is really low. Visitors and locals like spending their free time at the many parks and the lake Tegeler See, which are one of Berlin’s most popular recreation areas and centers for watersports (besides Spandau).
The architecture in Tegel is a mixture of modern, well-kept apartment buildings from the 50s and 80s and beautiful old buildings. It is a very good location and the home to the good middle-class.
Real estate in Tegel definitely has a lot of increase potential and usually is very well-kept and shows a high quality.
Companies like Motorola and Herlitz are based in Tegel. The castle “Schloss Tegel” is one of the attractive sites of the district. Two very well-known men, the brothers Alexander and Wilhelm von Humboldt, grew up, lived and worked in Tegel.