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Berlin: Vacancy Rate on new 10 Years Low

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.