Here’s How Much the Rent Rose Last Year (Hint: 47%!)

Rents continued to jump in Berlin by as much as 47 percent last year, backed by increases in property prices as the Hauptstadt’s popularity shows no sign of abating.

Kaltmiete rents – the basic leasing fee – on new residential leases climbed to an average €9 per square meter last year, an increase of 5.6% over a year earlier, according to the 2017 Berlin Residential Property Report released Wednesday by real estate company CBRD and mortgage lender Berliner Hyp.

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Photo thanks Dennis Skley via Creative Commons/Flickr.

The area around Humboldthain Park rose the most – 47 percent – followed by the Neukölln neighborhoods around Richardplatz and Silbersteinstraße, where a fresh lease included an average increase of 32.4 percent and 24.1 percent, respectively.

“The situation on the residential market is apparently just getting worse,” Reiner Wild, the head of the Berliner Mieterverein renter’s association, told Berliner Zeitung. “The once-most affordable neighborhoods have the highest increases in rents on offer. Finding an apartment with rent of €5 to €6 per square meter net Kaltmiete has become a game of chance.”

Wild called on Berlin’s upper house parliament to do more to protect renters.

The increases are the result of renovations to aging buildings and a 9.6 percent increase in property prices – to an average €3,289 per square meter, according to the report.

The report shows efforts to slow rent increases in Berlin have had little effect, although the Mietpreisbremse, the city’s rent control legislation, has apparently led to more furnished apartments, where extra fees for furnishings are allowed. Some 27.4 percent of all apartments on the market were furnished last year, up from 23.8 percent in 2003, according to the report.

Hackesche Markt in Mitte is Berlin’s most expensive neighborhood at €13.80 per square meter while the far-flung Ahrensfelde neighborhood in Marzahn-Hellersdorf is the cheapest at €5.75 per square meter.

The Berliner Zeitung article includes a neat map to help find the bargains.

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