Throughout the year 2023, the increase in rental prices in the capital continued, accompanied by a sustained influx of people moving to Berlin in search of housing.
The ongoing housing shortage continued to contribute to a significant increase in rents last year, which extended across the entire city area.
In 2023, the average net cold rent per square meter was 13.60 euros. Overall, rents in Berlin increased by approximately 19% last year. Compared to the 7 largest cities in Germany, this is the strongest increase. Rents are even higher in cities like Munich or Stuttgart.
City Center And Outskirts In terms of new rental listings, Berlin-Mitte is considered the most expensive district, followed by Charlottenburg and some parts of Pankow. In contrast, the offers in Hohenschönhausen and Spandau were the most affordable. Generally, the outskirts are significantly more affordable compared to the city center.
In the analysis of the most significant rent increase (almost a quarter), Neukölln (23.5%) and Friedrichshain-Kreuzberg (23%) emerge as leaders, while Reinickendorf (10%) and Steglitz (9.5%) have risen the least.
Surrounding Area
The ongoing rent increases are leading to an increased influx of people to the outskirts of Berlin, such as Brandenburg. This has resulted in rent increases there as well due to the increased demand. Examples of increased rents in the outskirts include Grünheide, Schönefeld and Potsdam. More affordable rents in the outskirts are still available in Hennigsdorf, Strausberg and Werneuchen.
Purchase Prices
In 2023, there was a decline in home property prices. Prices dropped by approximately 1.4% on average. This decline continues to be influenced by high mortgage interest rates.
