Your Condominium in Kreuzberg: Buy-to-Let Investment in a Growth Borough
Kreuzberg is part of the successful growth core of the German capital in economic and societal terms but also as creative hub of the city’s start-up scene. Year after year, people keep moving to the district, and many of those who move to Kreuzberg are looking for a home to own outright. Kreuzberg’s appeal is based on its central location in the heart of Berlin, boasting top-notch transport links, a cosmopolitan climate along with a diversified cultural spectrum and night-life action.
Accordingly, the demographics of the districts have only known one direction over the past years: steadily upward. From around 245,000 residents in 2001, Kreuzberg’s population went up to 289,120 by 2018 while the district’s age average is a comparatively low 38.1 years. In analogy to the strong incoming migration, the economy is also outperforming. For example, the number of businesses in the district has more than doubled over the past ten years. A young multinational scene has settled in throughout the neighbourhoods of Kreuzberg and fuels the demand for residential accommodation. Real estate in Kreuzberg now counts among the most valuable investment assets in Berlin. Aside from the inflow of new residents, the demand for housing in Kreuzberg is also being driven up by the high percentage of single-person households. At 60.4 percent, their share is higher than in any other district in Berlin, with the exception of Mitte.
Condominium in Kreuzberg: Pent-up Demand Rising in Attractive Environment
Condominiums for sale are therefore coveted and relatively rare in Kreuzberg. Anyone lucky enough to find a condominium here has reason to look forward to its steady appreciation. Especially the housing markets of the inner-city districts of Prenzlauer Berg and Friedrichshain-Kreuzberg are booming, as rents and prices here have followed an upward momentum for years.
Kreuzberg, for one, has seen condominium prices rise by 13 percent since 2017, driven by the combination of keen demand and short supply. The parameters at this sought location on Johanniterstrasse in Kreuzberg are just right for the acquisition of a buy-to-let residential property investment. Acquiring a condominium in Kreuzberg will let you participate in the development of this aspiring district while adding another component to your pension plan.
In addition, Friedrichshain-Kreuzberg is extremely sought after by companies as place of business while also being in demand as place of residence among young academics. Especially the media and creative industries feel at home here, in addition to a number of renowned large corporates: Around 11.7 percent of Berlin’s enterprises in this sector are based in Friedrichshain-Kreuzberg. While other districts make headlines with beacon projects like higher education institutions and technology parks, Kreuzberg is defined by a rather small-scale stock of industrial estates and creative labs as well as by a high density of service providers and freelancers.
Not least, Kreuzberg counts among the favourite places and sight-seeing destinations of the tourist crowd. In the wake of Berlin’s ongoing boom cycle, roughly 13.5 million visitors came to the city in 2018. The borough of Friedrichshain-Kreuzberg alone registered 4.2 overnight stays, second only to the borough of Mitte. Predictably, the hotspots of Kreuzberg have long found their way into travel guides and blogs. The district, which extends over around ten square kilometres, is dotted with high-lights, among them high-street pitches like Bergmannstrasse and lush parklands like Viktoriapark and Prinzessinnengärten. It is also home to architectonic landmarks like the Oberbaumbücke, the bridge connecting Kreuzberg with the borough’s other district, Friedrichshain.