2010: News, Facts and Gossip about Berlin (Germany) Real Estate
New Berlin based online mag sugarhigh.de today features the lifestyle of the new berlin hotspot kreuzkoelln (north neukoelln).
read the artcile here: “meet the kreuzkoellner”
Don’t know were Kreuzkoelln is located? Get our real estate investment map on BerlinInvestment.com.
Categories: Uncategorized.
According to BNP Paribas Real Estate (BNPRE) Investment Market Report 2010 turnover in commercial real estate investments trippeled in Q1/2010 compared to the same period in the previous year. This is the highest quarterly turnover since 2 years.
For the Top6 Real Estate cities Berlin, Munich, Dusseldorf, Frankfurt, Hamburg, Cologne
BNPRE reports ca. 2.86 bn Euro compared to 0.66 bn Euro in Q1/2009.
Berlin again heads Big six
By Q1/2010 turnover by city:
Portfolio deals account for 30 % or 1.5 Bill. Euro
Singel deals account for 70 % or 3.54 Bill. Euro
Q1/2010 turnover by segment:
Retail/Shoppingcenter investments account for 57%*?
Office investments 26%
I bookmarked this in del.ico.us a day after it was published, and forgot about it, that is why I share this so late with you.
Nevertheless the good news is this article is still more than true even 6 month after it was published and reflects my experience with the market.
Berlin is coming into balance
After a long period of excess supply, house prices now rising steadily.
English Version (translated by Google Language Tools).
Source: Die Welt
Author: Stephanie Creutz
Published: 25. Oktober 2009
Categories: Condo Prices, News, Property Prices, Rental Prices, Sales Prices.
Jones Lang LaSalle Retail Report Berlin:
Berlin remains stable even during times of crisis, as reflected by the
current situation on the retail property market.
Categories: Video.
Since a long time Nord Neukoelln is on our Berlin Real Estate Area Analysis Map.
Now the wellknown and popular Berlin based Magazin Tip Magazin has published an articel about Nord Neukoelln.
Read the English translation of this articel North Neukölln: avant-garde playground, auto-translated by Google here.
Some quotes from the article:
“Every few days, opened a bar, a studio or an art room, where previously only mattress discounters, Turkish mobile phone maker and resided shops. In the northern part of Neukölln exciting and courageous culture emerges beyond cocktail lounge, and White Cube Gallery.”
The author of the article Jacek Slaski thinks what happens today in North Neukölln, has similarities to New York’s Lower East Side 30 years ago. In the 1970s and 1980s people moved into the rundown neighborhoods of Lower East Side in the southeast of Manhattan, because the Greenwich Village was too expensive and because of the network of creative people combined with empty and inexpensive space which transfoormed into an incubator platform for new ideas.
I want to point out a note in the text mentioned by Igmar Beyer:
“One is still here in the city center, which must not be forgotten”
I think this is absolutely true, especially with the new tendence towards the South East with the new developments arround the river Spree between Friedrichshain and Kreuzberg and the new airport in the South-East.
Read the whole articel in the print version.
TIP 06/2010 page 28 to page 35.
Note: After my company and I got nicely mentioned as “Gentrification in Action” in a blogpost (see trackbacks below), the publisher asked us not to use his article on our page, therefore we quote the highlights from our perspetive and give you a link to the article auto-translated by Google.
We actually try to get a document from the publsiher to be translated, obviously to buy a German print version does not really make sence to you?
Categories: Berlin Locations.
In Transit: Three Years Later, Revisiting a Berlin Art District
By KIMBERLY BRADLEY Published: March 1, 2010
Brunnenstrasse, a gallery strip in Berlin that emerged a few years ago, is still bubbling with activity. (read full article here)
Categories: Uncategorized.
This is a post I posted in a forum called ToyTownGermany.
You will find the complete thread here.
As you can easily regonize from my posts in this thread I am a Berlin based broker, and this might make you not listen to me, but for all the other readers and posters I would like to answer your post:
your figures are way to high, and your conclusions are way to aggressive.
How will you proof this?
Why do my friends (they are not broker but Internet & Tech guys) drive Jags and Porsches in the streets of Berlin?
Why does the Fashion Company Barbour (as a british company) opens up the biggest showroom on the planet in Berlin? Why do we have several flats for rent in the region of 20 Euro/sqm plus?
Why is the biggest Mercedes Benz Showroom in the World in Berlin?
Why does more luxury and five star hotels open in Berlin than anywere else in Europe?
Boorlin I don’t know were you live, but I can hardly imagine you have any onground knowledge of Berlin??
Even if you live in Neukölln or any other “problematic area” I can give you a tour to open your eyes.
The underdeveloped situation is THE BIG Chance for Berlin. Germanies Capital is a evolving Media and Technology hub. Besides all the Lobbying and Political Associations and Embassies as well as national and international institutions. To get a clue of what is going on here just sign up for the “Berlin Partner Newsletter” at www.berlinpartner.de (in english as well)
Additional I can send you some infosheets about all the stuff I mentioned above.
But you can just go and read my blog at www.reberlin.com
Lets talk about the more detailed things you mentioned in your post.
Can a renter stay for 3 years without paying rent?
If you have a tenant not paying for 3 years, you either have the wrong lawyer or you are to weak to make decisions.
The laws regarding this subject changed shortly and became much landlord friendly. The truth is in the worst case cenario a renter can extend his freeride up to 12 month. But the statistics show it happens not often, in fact most real estate proffessionals calculate with 3% risk deduction on rent that can not be collected.
People need to life on the street because of hard landlords?
Sorry, nobody in Germany gets kicked out to the street, we have social housing for everybody, it has nothing to do with “beeing kicked by a cruel landlord”. Maybe you have heard that Germany has a very big and expensive wellfaresystem, were do think the money goes?
Renters on social wellfare, a problem?
If somebody lives on social wellfare, and you buy the flat he lives in for lets say 950 Euro/sqm and he pays 6.50 Euro/sqm per month, this makes a yield of more than 7%. (These figures referr to a real deal I did in Oktober 2009 in Neukölln)
Rent payed by the municipality? To nice to be true?
You can even ask him that the municipality pays directly into your account (you need permission of the renter so).
I highly recommend not to go this way because to my opinion a renter should be able to choose what he consums and what he wants to spend for it. But if you have a renter on social wellfare always paying late its better to ask him for permission to get payed directly by the municipality.
Just my 2cents
Alexander
of BerlinInvestment.com (corporate website) and ReBerlin.com (blog)
Categories: rental law.
400.000 visitors of 3.4 mio berlin visitor are families (mom, dad and kid(s)) therefore the suplly with kidfriendly hotels in Berlin is not very good. A wellknown Berlin based Hotelprojectdevelopment company wip Willmeroth Projektentwicklungsgesellschaft mbH wants to change this. They just have aquired Berlins biggest existing indoor pool form Liegenschaftsfond Berlin, a real estate asset management company owned by the municipality.
The 35.000sqm site is located at Buschkrugallee in Berlin-Britz (a subdistrict of Neukoelln). The developemnt includes a 3 to 4star hotel and othe facilities like a outdoor steamroom area.
The idea behind the holiday park is to attract loacl families as well as visiting families (tourists).
Not the standard hotel pproject idea so, and the location formerly known as “Blub” is well kown by the Berliners.
Categories: News.
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Categories: Research.
Alexander Korte is a German Real Estate professional and owner of Berlin Real Estate Investment. His focus is on investment property & luxury homes.