Microanalysis real estate market Berlin
Micro market report Tempelhof
Until recently the district was not really considered as hip. It felt like the neighborhoods of Tempelhof had not woken up yet. Geographically the district goes all the way to the city border and is surrounded by Kreuzberg, Schöneberg, Steglitz and Neukölln. Young families have always enjoyed living here and right now the real estate market of Tempelhof is booming. Row houses from the 20s and 30s, quiet and green streets, little traffic and good locations westwards of Tempelhofer Damm are attractive factors. Even the prices for the beautiful, central locations did not go up dramatically for years because there was almost no fluctuation. Who once owns real estate at the family friendly neighborhood “Fliegerviertel” around Adolf-Scheidt-Platz will usually not try to sell it that easily. With the rising popularity of the recreation area on the former airfield “Tempelhofer Feld” the just so quiet times were over. Houses and classic old apartments right across from one of Berlin’s largest inner-city recreation areas became really interesting. A fashion fair is held at Tempelhofer Feld twice a year and brings some glamour to the district.
Also the area around the train station “Südkreuz” is uprising at the moment. The well-kept residential areas around Südkreuz are definitely an insider tip for those, who like living close to the city- center but still enjoy a quiet and comparatively cheap neighborhood. Besides that the access to the public transportation system (BVG) is excellent.
Real estate market in Tempelhof
The district benefits from the easy access to public transportation, its neighboring district Kreuzberg and Schöneberg and the beautiful residential areas. Only 700 apartments were offered in 2016. One reason for the low number of offered apartments is a high quote of owner occupied housing of 25 percent in Tempelhof and its urban districts Mariendorf, Marienfelde and Lichtenrade. Another reason is that owners are still counting on a catch-up effect of the price development. In 2017 real estate prices continue to increase.
Evolution of the real estate market in Tempelhof
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 Tempelhof
Real estate in Tempelhof is booming. Catching up with the unified development of Berlin, apartment prices in Tempelhof went 20 percent up in 2016. Prices were at almost 3.000 EUR/sqm last year. There were only a few top floor apartments and almost no penthouse apartments among the total number of 600 offered apartments. The price segment in Tempelhof is strongly concentrated on the middle level. The segment of lower prices has been decreasing since 2013. A demand for higher price segments is not really strong at the moment.
Population in Tempelhof
Many residential areas started becoming more interesting with the closing of the airport in Tempelhof almost 10 years ago. Visitors and residents enjoy their free time at the large greened area, which is also an important natural site for birds and insects.
It is quite obvious how popular the neighborhood of “Neu-Tempelhof” has become since about 600 new residents moved here in 2015. The garden city in Neu-Tempelhof is also called “Fliegerviertel”. Streets are dominated by twin and row houses as well as four- to five- apartment buildings. Life is happening in the northern part of the quarter at Manfred-von-Richthofen-Straße, which is characterized by reconstructed old buildings. Even though the “Fliegerviertel” is right in the middle of the city, it is possible to feel comfortable and to get away from the everyday stress to the many green areas. The population here is a heterogeneous mixture of old and new residents.
People with many different nationalities and cultures are coming together in Tempelhof. More than 50 percent of the residents under 18 years of the area of Tempelhof have a migration background. At the neighborhood “Rathaus Tempelhof” 39,61 percent of the residents have a migration background.