Cosmopolitan Liveability in Close-Knit Quarters: Buying a Condo in Berlin!
Berlin sets the pace in Germany, being the country’s leading city in more ways than one. Home to around 3.7 million residents, it has the largest population of any city nationwide as well as the largest academic community with around 190,000 students enrolled in four universities, four university of applied sciences and 30 private higher education institutions, and it is also the most multicultural city in Germany as its residents hail from 190 different nations. At the same time, Berlin is said to have more green areas and bodies of water than any other European capital. Roughly 30 percent of the city’s total area of 892 square kilometres is made up of greenery and woodlands. There are around 2,500 parks in the German capital – and many of them right in the centre of the city.
Naturally, politics and history have a palpable presence everywhere you go. There is plenty of international glamour in the city as well, for instance during the International Film Festival that turns Berlin into a film metropolis. In addition to the Berlinale, the city also hosts many smaller film events and you will still find quaint old cinemas with the charm of the 1920s and 1930s as well as Kino International, East Germany’s former film premiere cinema open for business. But not just film buffs, stars and starlets are drawn to Berlin. The city has always fascinated tourists, and their number keeps growing.
Berlin – Boom Town and Sightseeing Destination
In 2018, around 13.5 million people from all over the world visited the city, a year-on-year increase by 4.1 percent. With around 32.9 million overnight stays, implying a one-year growth of 5.5 percent, Berlin consolidated its position as one of Europe’s top 3 travel destinations. And it is not just as a tourist destination that Berlin has been booming these past years. Its business sectors and labour market have experienced one banner year after another.
Rarely have the parameters for economic and personal advancement been better than in today’s Berlin. The fact is reflected in the steadily growing number of new arrivals, among them a large number of young scholars from elsewhere in Europe. Nowhere else in Germany did the labour market show a similar dynamic as in Berlin in recent years: The city has seen uninterrupted job growth since 2003. During this period, the number of gainfully employed persons has gone up by almost 20 percent and exceeds 1.8 million today.
Going for Homeownership in Berlin, an Innovation-Friendly Metropolis
Berlin’s economy is also characterised by the particularly innovation-minded nature of its business community. In the recent past, Berlin has evolved into one of the world’s leading start-up metropolises and pulled abreast of cities like New York, Tel Aviv and London in this regard. As it is, Berlin’s digital economy accounts for more than 70,000 jobs. Just recently, the city was chosen as the site of a new innovation campus that will cost 600 million euros and become yet another milestone for Berlin as a business location. The ground is laid for further growth, and so the pent-up demand for housing will remain a key issue in the city. The Statistical Office of Berlin and Brandenburg reported a positive migration balance of around 20,000 new residents in 2018, among them a large number of highly skilled young professionals from abroad. It is reasonable to say therefore that Berlin’s housing shortage is here to stay. As it is, condominiums are particularly rare and coveted in inner-city locations and along the rapid-transit circle line. But if you do find a flat here for owner-occupancy or as buy-to-let investment, you will have secured an investment of lasting value in one of the world’s most dynamic metropolises.