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Anyone who wants to buy a property in Berlin that costs less than 250,000 euros will have a difficult time. The proportion of condominiums and single and two-family houses that cost less than a quarter of a million euros is just 17.9 percent. This emerges from a study by the brokerage firm Poll Immobilien, in which purchase offers from the first nine months of this year were evaluated. The information is based on evaluations by the online platform GeoMap and by Poll Immobilien Research.
Berlin real estate market: Hardly any affordable properties under 250,000 euros
Anyone who wants to buy a property in Berlin that costs less than 250,000 euros will have a difficult time. The proportion of condominiums and single and two-family houses that cost less than a quarter of a million euros is just 17.9 percent. This emerges from a study by the brokerage firm Poll Immobilien, in which purchase offers from the first nine months of this year were evaluated. The information is based on evaluations by the online platform GeoMap and by Poll Immobilien Research. According to a report from www.berliner-zeitung.de, experts like me have long observed the rising prices on the Berlin real estate market. The investigation into Poll's brokerage house...
Berlin real estate market: Hardly any affordable properties under 250,000 euros
According to a report by www.berliner-zeitung.de,
Experts like me have been observing the rising prices on the Berlin real estate market for a long time. The study by the brokerage house Poll Immobilien confirms this development. The small number of properties that cost less than 250,000 euros makes purchasing a condominium or house practically impossible for many people in Berlin. This development will further increase pressure on the rental market as more and more people are forced to look for affordable accommodation on the rental market. The rising rental prices can also lead to an increase in social inequality in the city, as low-income households are particularly hard hit by the high rental costs. Overall, it seems as if the situation on the Berlin real estate market will not ease in the near future. Rising demand and limited supply will continue to drive up prices and make purchasing property unaffordable for many. It remains to be seen whether politicians will take appropriate measures to counteract this and ensure affordable housing for all sections of the population in Berlin.
Read the source article at www.berliner-zeitung.de