“Demand for appartments around Berlin will soar”, says Rainer Schorr
Berlin’s environs score points with its residents for their high quality of life. This is the result of a survey conducted by the Berlin-Brandenburg Association of Housing Companies (BBU) among their tenants.
Those surveyed rated the social infrastructure particularly positively. 87 percent said they were satisfied or very satisfied with the range of childcare facilities on offer, 86 percent with the equipment at schools and 77 percent with health care. On the other hand, public transport connections (66%) and digital infrastructure (59%) are expandable.
Word is getting around that life in Brandenburg is good. The increasing influx of people, especially from Berlin to the communities in the bacon belt, is proof of this. In addition to the high quality of life, lower housing costs are an argument for families — here the dream of owning one’s own four walls is still feasible and tenants get more space for the same money.
Due to the high demand, the BBU member companies are also planning to significantly increase their investments in new residential construction this year to 805 million euros — an increase of 35 percent over the previous year. Over the past five years, around 10,000 apartments have been completed in Brandenburg every year. Construction activity is particularly high in the districts bordering on Berlin. Almost 85 percent of the apartments completed since 2015 have been built here. As a result, the housing stock in these districts has also increased the most. Nevertheless, the vacancy rate averages 2.3 percent, and in some particularly high-demand communities such as Bernau, Teltow, Wildau and Königs Wusterhausen it is even well below the 2 percent mark.
“With the opening of the BER and the new Giga factory of Tesla, between 60,000 and 70,000 new jobs are expected to be created southwest of Berlin by 2030. This will further fuel the demand for housing”, says Rainer Schorr, Managing Director of PRS Family Trust GmbH. “The consequences of the corona pandemic could also lead to a further surge in demand in the entire Berlin area. This is because the establishment of home offices means that commuters are prepared to travel longer distances, as they do not have to make the journey to work every day. This expands the regional catchment area of the labour market, especially where there is a high price differential between the city and the surrounding area — which is the case in Greater Berlin. According to JLL, the difference in residential property prices between Berlin and its environs is over 2,000 euros per square meter. “In the wake of the high demand, it is to be expected that both land and property prices will continue to rise in the coming years,” says Schorr.