Berlin Property Now More Style

  • 16 years ago
  • Uncategorized
Many old Berlin factories are being turned into residential properties and lofts are the designer’s choice. One of the largest conversions in the city has been the Paul-Lincke-Höfe project. This is taking an old factory in Kreuzberg, right in the heart of the city, and converting it into 116 lofts ranging from 80 square meters to 250 square meters.
Berlin has long struggled to find its identity, but today it is seeing a number of new developments and trends that are helping the city become a popular place to live. The German capital has an abundance of old homes and factories that are being converted to stylish properties and invigorating the housing market.
An increasing number of people are living in the heart of the city, rather than the suburbs. This has led to a dearth of larger apartments and homes, and the older properties are filling the need. Larger lofts and converted apartments are becoming more and more popular, and developers are looking for opportunities to create these spaces for residents.
Another conversion is taking place in Zehlendorf, where a developer is converting an old electronics factory into loft spaces ranging from 66 square meters to 400 square meters. All of these have 4 meter tall ceilings and cost between €180,000 and €1.1 million each. Bare loft spaces usually sell for €1,800 to €2,800 a square meter, which can increase to as much as €4,500 for finished warehouses, according to the article.
Apartments in older houses typically sell for €3,000 to €4,000 a square meter, or usually about €400,000. Prices have continued to increase over the past few years, averaging about 10% per year according to one realtor. These prices are still low compared to other German cities, making Berlin a bargain.
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