{"id":4574,"date":"2022-04-15T16:26:47","date_gmt":"2022-04-15T14:26:47","guid":{"rendered":"https:\/\/www.edel-re.com\/uncategorized\/developments-in-the-berlin-real-estate-market\/"},"modified":"2022-09-30T00:25:49","modified_gmt":"2022-09-29T22:25:49","slug":"developments-in-the-berlin-real-estate-market","status":"publish","type":"post","link":"https:\/\/www.edel-re.com\/en\/developments-in-the-berlin-real-estate-market\/","title":{"rendered":"Developments in the Berlin real estate market"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"4574\" class=\"elementor elementor-4574 elementor-1817\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-50bc8a4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"50bc8a4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div 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\"><\/polygon>\t\t<path class=\"st0\" d=\"M51.9,25H5.8v77.4h17.1c-0.5,0.6-2.6,3.5-4.2,5.4H0.4V19.6h56.4L51.9,25L51.9,25z M72.4,19.6   c-2.3,2.5-2.7,3.5-4.4,5.4h15.2v77.4H39.1l-4.8,5.4h54.4V19.6H72.4z\"><\/path>\t\t\t\t\t<rect x=\"21\" y=\"59.3\" transform=\"matrix(0.6761 -0.7368 0.7368 0.6761 -30.6293 54.4769)\" class=\"st0\" width=\"51.3\" height=\"5.6\"><\/rect>\t\t<polygon class=\"st0\" points=\"13.9,59.4 68.4,0.3 72.7,4 18.2,63.1   \"><\/polygon>\t<\/g><\/g><\/svg><\/div>\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-58d3912c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"58d3912c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4244db6e stretch-to-none\" data-id=\"4244db6e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5fb31cb6 elementor-widget elementor-widget-text-editor\" data-id=\"5fb31cb6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.6.5 - 27-04-2022 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#818a91;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#818a91;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Germany\u2019s capital, Berlin, is the seventh most populous urban area in the European Union. The city\u2019s residential sector has been boosted by its young population and growing reputation as a European creative and media hub. It hosts several renowned universities, orchestras, museums, entertainment venues and other creative industries.<\/p><p>It ranked 13th out of 231 cities included in the <a href=\"https:\/\/www.mercer.com\/newsroom\/2019-quality-of-living-survey.html\" target=\"_blank\" rel=\"noopener\">Mercer&#8217;s Quality of Living Index<\/a>.<\/p><p>For several years, Berlin has recorded a population growth of about 40,000 to 60,000 annually, mainly due to inward migration. Berlin has currently a population of around 3.6 million and an average population growth rate of 5% in the past five years. Yet last year, population declined slightly after international inward migration has been adversely impacted by the pandemic.<\/p><p>\u201cInternational inward migration had been seriously affected by the COVID-19 movement restrictions. [Aber] [But] This development must be interpreted as being crisis-related and therefore a short-term effect, and the additional requirement for new housing will remain at a high level,\u201d said <a href=\"https:\/\/www.jll.co.uk\/content\/dam\/jll-com\/documents\/pdf\/research\/emea\/germany\/en\/Residential-City-Profile-Berlin-JLL-Germany.pdf\" target=\"_blank\" rel=\"noopener\">JLL<\/a>.<\/p><p>According to <a href=\"https:\/\/www.jll.co.uk\/content\/dam\/jll-com\/documents\/pdf\/research\/emea\/germany\/en\/Residential-City-Profile-Berlin-JLL-Germany.pdf\" target=\"_blank\" rel=\"noopener\">JLL<\/a>\u2019s forecast, Berlin requires about 18,500 new apartments annually until 2030 to address the severe housing shortage in the city. And the introduction of a rent price cap (Berliner Mietendeckel) last year is expected to exacerbate the situation.<\/p><p>On January 30, 2020, Berlin adopted a law to freeze rents in the city, which came into force on February 23, 2020. The rent cap covers all residential space completed before January 1, 2014, with rents frozen at the level of the rent on June 18, 2019. The law prohibits rent increases until 2021 with monthly maximum rent fixed between \u20ac3.92 and \u20ac9.8 per square metre, depending on the year of completion and the standard of the residential property. Rent increases of 1.3% per year will be permitted starting 2022.<\/p><p>Source:<a href=\"https:\/\/www.globalpropertyguide.com\/Europe\/Germany\/Price-History#:~:text=%E2%80%9CMore%20than%20%E2%82%AC20%20billion,uninterruptedly%20high%20level%20in%202021.%E2%80%9D\" target=\"_blank\" rel=\"noopener\">https:\/\/www.globalpropertyguide.com\/Europe\/Germany\/Price-History#:~:text=%E2%80%9CMore%20than%20%E2%82%AC20%20billion,uninterruptedly%20high%20level%20in%202021.%E2%80%9D<\/a><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>These are the forecasts for the real estate market in Berlin.<\/p>\n","protected":false},"author":3,"featured_media":4496,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[190],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.6 - 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