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Berlin housing market: Rents in Neukölln and Friedrichshain-Kreuzberg are rising rapidly
Housing is becoming unaffordable even in “working-class neighborhoods” – all information in a district comparison. Discover the rising rents in Berlin and the effects on the housing market. #BerlinHousingMarket #RentsinBerlin #ApartmentSearch
Berlin housing market: Rents in Neukölln and Friedrichshain-Kreuzberg are rising rapidly
The competitive housing market in Berlin is causing rents to rise rapidly, especially in inner-city districts such as Neukölln and Friedrichshain-Kreuzberg. Last year, asking rents rose by 23.5 percent in Neukölln and by 23.2 percent in Friedrichshain-Kreuzberg. The 2024 residential market report from Bank Berlin Hyp and CBRE revealed these figures and shows that asking rents across all districts increased by an average of 18.3 percent, increasing the price to 13.60 euros per square meter. Districts like Mitte, Friedrichshain-Kreuzberg and Charlottenburg-Wilmersdorf are among the most expensive in the city.
Steglitz-Zehlendorf ranks sixth among the most cost-intensive districts with an asking rent of 13.38 euros per square meter, followed by Tempelhof-Schöneberg, Neukölln, Lichtenberg, Marzahn-Hellersdorf and Reinickendorf. Spandau, on the other hand, offers the lowest asking rents of 10.31 euros per square meter. It is important to note that the asking rents only provide information about the asking prices of the vacant apartments, but not under what conditions they were ultimately rented out.
In the upper market segment, the most expensive ten percent of the offers, prices rose by 8.7 percent to an average of 26 euros per square meter of living space. Charlottenburg-Wilmersdorf is the frontrunner in this segment with 28 euros per square meter. At 19.06 euros per square meter, Marzahn-Hellersdorf remains below the 20 euro mark, making it the only district in Berlin with prices below this threshold in the upper market segment.
For the lower market segment, the cheapest ten percent of apartments, the asking rents across the city increased by 4.9 percent to 6.25 euros per square meter. The most expensive district in this segment is Steglitz-Zehlendorf, followed by Lichtenberg, Spandau, Reinickendorf and Marzahn-Hellersdorf. Marzahn-Hellersdorf has the lowest rents in the lower market segment at 5.42 euros per square meter.
In Friedrichshain-Kreuzberg in particular, there was a nine percent increase in the price of apartments in the lower price segment last year, which means that inexpensive housing is declining particularly sharply there. The Berlin tenants' association expresses its concern about rising rents and is calling for the rent cap to be tightened in order to protect inexpensive housing. State Secretary Alexander Slotty refers to the state-owned housing companies that offer affordable housing. The Senate is now investing 1.5 billion euros in promoting social housing in order to counteract the tense housing market.