Four-bedroom flats in Berlin
Buying a four-bedroom in Berlin: A look at the current market
Many buyers and renters dream of a large home with ample space to express their tastes and sensibilities. Due to historically low interest rates, owning a spacious four-bedroom flat has become a realistic dream for more and more prospective buyers.
According to the 2018 annual report published by the Statistical Office for Berlin-Brandenburg, three-bedroom flats made up 11 percent of all properties. In comparison, the proportion of one-bedroom flats came in at 33 percent, while two-bedrooms made up 27 percent of the city’s total housing stock.
Percentages of Berlin housing stock in 2019*
Things look a little different on the demand side of things. Four-bedrooms are the second most sought-after style of flat after three-bedrooms, creating an imbalance between supply and demand for four-bedroom flats.
Percentages of housing inquiries by room number in Berlin in 2019*
Where to buy a four-bedroom flat in Berlin
Statistics show that four-bedroom flats are most commonly found in the city’s outer districts. Given the high density of housing in more centrally located areas, four-bedrooms are rarer there than in outlying neighbourhoods such as Steglitz-Zehlendorf and Reinickendorf. The latter are located in the western part of Berlin and are currently growing in popularity, especially among older residents. This is largely thanks to their quiet location close to stretches of forest and lakes. Considering that both districts nonetheless provide excellent connections to the city’s public transportation system and centre, the price-performance ratio and quality of life leave little to be desired:
Percentage of three-bedroom apartments by neighbourhood*
Purchase prices in Reinickendorf and Steglitz-Zehlendorf*
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Buying a four-bedroom flat
Buying a four-bedroom home: a lifelong investment
If you’re thinking about buying a four-bedroom, you’re probably looking for a long-term investment. If you plan on living in the apartment, there are two factors to consider in this regard. First, you should think about whether or not you plan to start a family. Four-bedroom flats are a perfect fit for young families or those planning to start them soon. Buying a four-bedroom means you can own your home with no need for further adjustments down the line.
Second, you should always take into account provisions for old age when purchasing real estate. If you plan to live in your property for many years to come, you should make sure it’s appropriately equipped in case of future mobility limitations. Is there an elevator? Are there doctors and grocery stores in walking distance?
For investors: minimising risk through consistency
Four-bedroom apartments offer advantages not just for owner-occupiers, but also for those purchasing real estate solely as an investment. Four-bedrooms are likely to attract long-term tenants, a boon for landlords. Not only is your administrative effort considerably lower with longer tenants, but the risk of rent losses is also minimised as long tenancies foster trust between both parties.
Still, the fact remains that buying a four-bedroom flat is a significant financial investment for most people. A study conducted by Sparda Bank has shown that the main reason prospective buyers decided not to follow through with a purchase is because they’re afraid of having to shoulder a long-lasting financial burden. But it’s precisely the likelihood of finding a long-term tenant that mitigates the potential risk; combined with optimal financing conditions, the consistent returns associated with long-term rental agreements put buyers in an excellent position to minimise financial risk.
ZIEGERT is happy to support you every step of the way, from your very first consultation to finding a perfect tenant and signing a lease. Get in touch today, and our consultants will help make your real estate dreams come true.
* Source: Ziegert Digital using data collected by the Statistical Office for Berlin-Brandenburg and ImmobilienScout24, Germany’s leading online real estate portal.