View Larger Map As mentioned before, Neukoelln is the new place to be for the young and urban.
If you talk to restaurant and coffee owners in neukoelln (like we do for you) they will all tell you about rumors regarding Flughafenstrasse. This street is close by the area arround Herfurthplatz with its nice Schillerpromende mentioned in an earlier post.
And now guess what: As featured in Zitty and Prinz Magazin: there is a new restaurant darling in town
right on Flughafenstr. 46, 2nd Yard, Neukölln, U-Bahn Neukölln
Tue-Sat from 12 clock, dinner menu from 19.30 clock,
Tel: +49-30-62722152
info@lavanderiavecchia.de
Berlin Restaurant hardly take any credit- or debitcards, go get some cash at a ATM.
While Berlin Mitte and Prenzlauer Berg is the main hunting area for Berlin based hotel and residential developers, Friedrichshain seems to gain traction, due to high prices and short suplly in Mitte and Prenzlauer Berg. With prices outreaching 3500 Euro/sqm Berlin Mitte and Prenzlauer Berg is no longer suitable for “normal” families with 2 incomes and 2-3 (!) kids.
For example, condo project Gleimstr. 50 (Gleimkiez in Prenzlauer Berg) of developer natulis AG in a more northern part of Prenzlauer Berg sold for 2850 Euro/sqm back in 2008 and would cost today 3500 Euro and more today in the same location and quality. Yet unfinancable by people with a “normal” income.
Developers now turn heads towards Friedrichshain, especially in former redevelopement area “Samariterviertel” and Simon-Dach-Kiez, arround Boxhagener Platz lots of plots are still unbuildt (does not mean on sale). One part of Friedrichain is allready heavily developed, the Island Stralau half surrounded by the river spree.
Berlin Zehlendorf: Diamona & Harnisch (D&H) just announced a new condo project in Zehlendorf Königstrasse 40 (Wannsee) . On 9.000 sqm land 37 units in 5 new villas and a prewar villa (rehab) with a total of 4800 sqm living space will be developed.
Project start: 2011
End of project 1: End of 2011
End of project 2: Mid 2012
This is another example for premium high end living condos and rehabs in the best areas of Berlin.
If you need information about luxury living, locations, prices, developers or if you want to buy a prime home in Berlin Germany, then give me a call or send us an email.
Torstrasse in Berlin Mitte is what urban land planner call a “magistrale” a big trafficed street in this case 2 lanes each direction. While the real estate market in Mitte matured Torstrasse stayed unfinished until this year. Mostly all empty plots got sold.
The last undeveloped plot Torstr. 136 will host a new budget hotel starting constructions this year. This will “finish” Rosenthaler Platz and form one of the main crossings in Berlin Mitte into the main hub for hotel and budget living in central Berlin.
Torstr. 67 with permission for residential or commercial usage went t o auction a couple of years ago, and did not find a buyer for te price asked. It finally got sold a couple of weeks ago. Yet no info on the usage.
Nevertheless there are still residential/condo developments and rehabs to be found on Torstreet:
Cross the street at the corner Rosa-Luxemburgstr / Torstr. (adress: Linienstr. 40) one of the most progessiv locations are finished with on of the most design orientated concepts (L-40.de) actually a residential condo for art lovers and art collectors who want to live with their art.
Another residential condo will be put on Torstr. 165 which got sold this year by an Berlin based real estate company.
A residential rehab project called “Tor Quartier” between Torstr.79/83 and Zehdeniker 28 will be finished soon. While this is a heritage building (A-listed) this project is interesting for buyers paying (high) tax in Germany.
No matter if you want to buy a rehab or a development. Give us a call, we just don’t have the time to present all our properties and knowledge on this blog.
Shortage of flats in good areas, rents grow.
Berlin runs short on rental apartments in good and very good locations.
According to the federation of the housing companies and housing cooperatives of Berlin and Brandenburg BBU the vacancy rate with in the central located districts hit the crucial bench of “below 2%”
Charlottenburg (vacancy rate falls from 2,2 to 1,9 %)
Wilmersdorf (vacancy rate falls from 2,9 to 1,6 %)
Prenzlauer Berg (no change, but very low vacancy rate of 1,5 %)
Mitte without Tiergarten and Wedding (vacancy rate climbed from 1,6 to 1,9 %)
In all districts of Berlin the vacancy rate fall by 0.4% to a new 10 years low (3.5%), actually the lowerst since 1997 (3,3%). This rates reflects the number of 664.000 units managed by members of the federation.
The rents (netcold) climbed in 2008-2009 by 2,6% to 4,82 Euro/month.
About BBU:
The BBU is the federation of the housing companies and housing cooperatives with their place of business in the city of Berlin and in the federal state of Brandenburg. 368 housing associations, limited companies, joint stock companies and housing cooperatives are members of the BBU. Their housing stock comprises 1.1 million residential dwellings. Approximately 36 percent of the Berlin housing stock and 29 percent of the housing stock in Brandenburg is owned and administered by the members of the BBU.
Emerging Trends in Real Estate® Europe 2010 Report
The prospects for development have declined fractionally, but as other cities
have declined further, Berlin has risen up the rankings
slightly, moving from 15th to 12th. Residential property is
favoured. As one interviewee comments, “Berlin is an interesting
market for residential, ‘It is hip to live in Berlin.’ ” This
is reflected in the investment recommendations, with 31
percent of respondents citing residential as the preferred
asset type, the highest proportion for any of the cities covered
by the survey.
Among the top tips from the report’s respondents:
Keep it simple: Go for “plain vanilla real estate investments that everybody understands.”
Best buys: Core is king. Stick to core and core-plus investments in large, liquid markets.
Development: For those with the stomach for risk, buy land and start building up a pipeline of projects. Residential and mixed-use are the best sectors.
Go for debt: Buy a bank or set up a lending platform. Now is a great time to lend on real estate, if you have the right skill-set and no legacy issues. Values are low and “the gap between cost of funds and loan margins is as good as it gets”. Or, buy distressed debt at a discount.
Green is good: Real estate is on the front line in the battle against climate change. “There is now a clear realisation that environmental and social responsibility is connected to economics. It has become an action issue.”
