Berlin Property Investment Booms

As this Friday sees the start of the World Cup 2006 Quarter finals, we thought we should feature the capital city of Berlin, whose at their new-look, 76,000-capacity Olympiastadion sees host country Germany take on favorites Argentina.

Berlin is similar to London, in that it houses a collection of communities rather than a mass of people. However matters were complicated by nearly 30 years of division by the Wall, which has created big differences between east and west. Look east and to the riskier former communist areas of Prenzlauer Berg and Kreuzberg. Whilst prospects are good, risk is higher as unemployment in higher in this area which is somewhat higgledy-piggledy in its development partly due to the legacy of the fall of the Wall. Totally renovated luxurious apartment buildings can often be found alongside collapsed ruins which can be off-putting however does leave room for the area to grow and gentrify itself.

Prenzlauer Berg is a neighbourhood in the district of Pankow, on the market with The Wilden real estate group, Berlin is offering a refurbished residential development of 22 apartments and 3 penthouses ranging in size from 1, 2 and 3 bedrooms of 51m2 to 132m2 with completion set for April 2007.

The building enjoys prominent location, in an exclusive area well connected to the city by an excellent infrastructure. The development is close to subway, bus and tram stops. The area is tipped for good capital growth as demand already outstrips supply. The popularity of the area remains good, due to the large number of medium sized businesses, cultural venues and retail shops within the vicinity. The well-known Kollwitzplatz, with its numerous small cafés and restaurants, is just a few minutes’ walk away.

Prices start at 107.566 euros rising to 221.450 euros for penthouses. For floor plans, prices and availability click here.

A safer alternative is the older, more established west, districts here are quieter, well cared for with extensive green areas, close to Lake Lietzensee (a key rental demand) the location is ideal for families with children. Proximity to local infrastructure and industry translate to secure long term rental prospects. A haven for white washed mansions and historical treasures such as the Brandenburg Gate, Charlottenburg Palace and Humboldt University, Charlottenburg-Wilmersdorf is Berlin’s exclusive suburb with plenty to see and do. This leafy, late 19th district is home to young well-heeled residents which bodes well for future capital gains. Prices are likely to rise as much as 15 percent a year for the next five years.

Imoinvest International is the marketing agent for the 2nd phase of the luxury RIEHLSTRASSE development. Property options start from 40m2 Studios starting at 44.000 euros to 3 bedroom 112m2 apartments priced at 124.000 euros. To request a brochure with more details click here.

To find out even more on the Berlin property debate visit housepricecrash.co.uk.