Microanalysis real estate market Berlin
Micro market report Tiergarten
Real estate in Tiergarten: in the heart of Berlin
Tiergarten is located in Berlin’s center and neighboring the districts Mitte, Schöneberg, Charlottenburg, Wilmersdorf and Wedding. It is a diverse district with many old and postwar buildings. One of the best located and most popular quarters of Berlin is the “Hansa-Viertel” with its postwar architecture. 53 architects from 13 different countries started designing and developing the project since 1953 in preparation for the international construction exhibit (IBA) in 1957. The classic character of the neighborhood comes with many greened, light areas and attractive building complexes.
After World War 2 the district became part of the British sectors. Many parts of it were destroyed by bombings during the war. Rebuilding started in the 1950s.
Some of Berlin’s most important cultural institutions are based in Tiergarten: the convention hall at Spreeufer (Berliners also call it the “pregnant oyster”), philharmonic orchestra, town library and the new national gallery. Other quite important locations in Tiergarten are the zoological garden, Technische Universität and Potsdamer Platz. The rebuilding of Potsdamer Platz started right after the German reunification. Today it is a tourist hot spot as well as business and shopping location.
The “Regierungsviertel” (quarter of governance) was built between 1997 and 2001 on an area along the river Spree. The Reichstag building was rebuilt at the same time. In 1998 the new central station of Berlin (“Hauptbahnhof”) was built after the former train station “Lehrter Bahnhof” was torn own at the end of the 1950s.
Real estate marktet in Tiergarten
The high amount of offered apartments goes hand in hand with a high demand. Almost all locations of the district are extremely popular because they offer everything a central district needs. The access to the public transportation (BVG) is excellent, very good universities and some well-known companies (and employers) are just around the corner.
Evolution of the real estate market in Tiergarten
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 Tiergarten
For the past 10 years the prices on the real estate market went wave-like from single-digit to double-digit rates. These price fluctuations are starting to go higher. According to our research, the increase of prices was at almost 20 percent in 2016, which is really high considering that it was at only 7 percent in 2015. More than 900 apartments were offered in 2016. The average price for all apartment types went from 3.400 EUR/sqm in 2015 to 4.050 EUR/sqm in 2016. Almost no apartments were offered at Hansa-Viertel last year, which also explains the high real estate prices in the quarter.
Population in Tiergarten
Compared to other districts the population of 14.450 (2015) residents is very low. The district got its name from the 2,1 square kilometre large park area “Tiergarten”, which is Berlin’s second largest and Germany’s third largest inner city park area. It is a neighborhood with only around 200 residents. Most residents of the district live around the quarter of Lützowstraße.
The age group of residents between 27 and 45 years has the highest representation in the district (14,78 percent). Around 58,70 percent of all residents here have a migration background; around 30 percent of them are coming from countries of the European Union.
59,04 percent of all households of the district are single-households with a record-high of 63,36 percent in the quarter of Stülerstraße. In that quarter only 5 percent are living in a household with 4 or even more persons.