Microanalysis real estate market Berlin
Micro market report Weißensee
Weißensee is one of Berlin’s smallest districts and implements an urban, small-town feeling. The building height goes lower, the further one gets in the north of Weißensee. Neighborhoods in the district became more popular over the past years. People want to live central but not in the center, which makes Weißensee with its traffic infrastructure and access to the public transportation system (BVG) quite attractive. Besides that the quarters are calm and characterized by beautiful old buildings. A popular neighborhood is the “Komponistenviertel”, where an important historic and cultural monument of Europe is located: the historic Jewish cemetery.
A mixture of working and living evolved from the district, which is closed to the hip neighborhoods of Prenzlauer Berg, Mitte and Friedrichshain. Many classic, small businesses settled here. Many of the old buildings in the Wilhelminian style were already reconstructed. There are many greened areas and playgrounds and most of the back roads are traffic calmed areas. Many schools and kindergartens are quite attractive for families. The reconstructed Picasso- elementary school enjoys an excellent reputation. Shops, grocery stores and service companies are located alongside Berliner Straße.
It only takes 5 minutes to reach the center of Berlin east by Tram. During the summer the lake “Weiße See” is one of the hotspots of the districts.
Real estate market Weißensee
The performance of Weißensee’s real estate market was quite positive in 2016 and 2017. A slight regression of transaction numbers of portfolio property has been noted. Prices for all apartment types rose about 15 percent. The dominating price segment is quite in the middle between 2.000 - 4.000 EUR/sqm. The number of new built apartments offered in 2016 was around one third higher than in 2015, with a total of 400 properties.
Evolutionary stages of Weißensee’s real estate market
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 Weißensee
Apartments in Weißensee are offered for an average price of 3.450 EUR/sqm in 2017. The real estate market in the district is small with less than 500 offered apartments in 2016 and around 200 offered apartments in the first half of 2017.
Weißensee: popular residential location and growth of population
Residential areas in Weißensee are popular, which also has been noted by many residents of Prenzlauer Berg and Pankow. The strongest flow of immigration to Weißensee has been registered from Pankow’s residents. Very popular among Prenzlberger’s are neighborhoods around Helmholtplatz, Winsstraße and Komponistenviertel. Especially former residents of Kollwitzplatz and Erich-Weinert-Straße have been attracted to living at Komponistenviertel.
A growth of 4.550 residents has been registered between 2011 and 2015. With a total growth of 13,37 percent between 2011- 2015 the neighborhood Weißer See has registered the most new residents. Also at the top of the list is the neighborhood of Gustav-Adolf-Straße with 10 percent growth of population.
Household structures in the district are divergent. On average around 48,78 percent of all households are single households. The neighborhood with the most single households is Behaimstraße with 62,56 percent. Over 70 percent of Alt-Karow’s and Blankenburg’s residents are living in a household with more than one person.