Apartment market: Berlin landlords expect rising rents
Rents in Berlin rose 2% this year. This trend will continue in 2009, the current “Marktmonitor 2008” poll, compiled by the League of Apartment Enterprises in Berlin-Brandenburg (BBU), says. According to board member Ludwig Burkardt, the international financial crisis has little influence on the development of the market. “During the past years, Berlin has established itself successfully as a location for future technology and research,” he explained. The average rent among the 365 enterprises belonging to the league in Berlin currently runs to €4.56/sqm, which is still 19 cents below the rent index. Above all, BBU sees potential rent increases in the boroughs of Charlottenburg, Kreuzberg, Pankow, Schöneberg, Steglitz and Zehlendorf.