Overview

• Average asking rents in Berlin increased by 12% in the past year, reaching €15.79/m², making it the third most expensive city for new rentals in Germany after Munich and Frankfurt.
• Despite 43,500 apartments in planning or construction across 215 projects, the supply remains insufficient to meet the projected need for 222,000 new units by 2040.
• Existing rents average under €9/m², with municipal housing at approximately €7.50/m², leading to low tenant turnover as residents stay in more affordable units.
• Berlin experienced the steepest rent increases among German cities, driven by population growth and limited housing availability.
• Condominium asking prices fell slightly by 1% to €5,696/m², attributed to higher interest rates dampening demand for property purchases.