RENTALS IN BERLIN’S S-BAHN OUT OF REACH DUE TO LACK OF PROPERTIES

Property rental prices have risen dramatically in Berlin over the past year, meaning most natives can no longer afford to live within the S-Bahn belt (inner city ring).

According to figures from the CBRE Berlin Hyp Housing Market 2018 report, apartment rents in the S-Bahn belt have risen on average by 2 euros per square metre since 2016. S-Bahn junctions such as Jungfernheide and Greifswalder Strasse have even risen between 3 and 4 euros, meaning rents are no longer below 11 euros per square metre.

The latest survey from Black Label Properties’ Rental Map 2018 supports this data, citing the lack of rental properties available as the reason for the price hike.

“The gap between rent levels and the actual market price increases from year to year,” says Achim Amann, CEO of Black Label Properties. “From the Rental Map, we can clearly see that rents are not falling.”

He adds: “As long as there are too few rental apartments in Berlin, nothing will change. For Berliners on an average income, living within the S-Bahn belt is barely affordable these days.”

In light of the growing prices, Achim has advice for prospective renters on to handle the rental in the region, urging them to consider their lifestyle choices.

“I advise tenants looking for an apartment to rethink their options,” says Achim. “Is it worth paying high rents to live in the inner city areas when you could have a bigger apartment and better quality of life living a little further out, but still within an easy commute of the city centre?

“There are lots of companies based on the outskirts of the city in places like Adlershof, the science and media centre of Berlin. If you have a bigger space working from home is also an option.”

To assist with finding rental property in Berlin, access the Black Label Properties’ Rental Map 2018.

“The Rental Map is a good starting point for people who are looking to buy in Berlin, as it gives an overview of the real estate market,” adds Achim. ““We update it every year to realistically assess rental price developments for our customers.”

Use Black Label’s online rent or buy calculator to work out what property you can afford.