Berlin Apartment Market Q3 2026

Resale market

Resale apartments in Berlin are notarised at an average of €5,230 per sqm. Year on year, the change is -€60 per sqm or -1.0 %.

Measured over longer periods, average annual change stands at 8.4 % over fifteen years and 7.2 % over ten years.

Prices by location

The highest prices per square metre are notarised in Mitte (€6,620 per sqm), Friedrichshain-Kreuzberg (€5,770 per sqm) and Charlottenburg-Wilmersdorf (€5,750 per sqm). The lowest are in Spandau (€3,380 per sqm), Reinickendorf (€3,700 per sqm) and Marzahn-Hellersdorf (€3,890 per sqm). The full ranking of all twelve boroughs is shown in the table.

Within individual boroughs, values lie further apart than between some boroughs. In the district of Mitte the price per square metre is €8,650 per sqm, in the district of Wedding it is €4,110 per sqm. Both belong to the borough of Mitte.

Supply and notarisations

The gap between asking price and transaction price stands at 8 % or €400 per sqm.

As at the data cut-off for this edition, 6,768 notarisations are recorded. For 2025 the series shows 12,514. The current-year figure is incomplete because notarisations are reported with a lag.

On the supply side, 37,099 listings are recorded, against 28,934 for 2025.

Other factors in pricing

Alongside location, availability, construction period, condition and size all affect price. The average living area of notarised resale apartments is 70 sqm; in 2010 it was 74 sqm. The average transaction price is €374,800, against €109,200 in 2010.

By availability, sales divide between vacant and occupied units and tenant purchases.

Sales are distributed unevenly across construction periods. The largest share is accounted for by apartments built up to 1918, followed by the 1950 to 1964 period.

The table below describes the characteristics of each construction period.

New development market

New developments are notarised at an average of €8,440 per sqm. Year on year, the change is €240 per sqm or 3.0 %. Over ten years, the change is 106.0 %, an average annual change of 7.5 %.

As at the data cut-off for this edition, 833 notarisations are recorded. For 2025 the series shows 1,428.

The average living area of notarised new developments is 57 sqm. In 2015 it was 82 sqm.

Rental market

The average asking rent for resale apartments is €18 per sqm net cold. For new developments it is €22 per sqm. Year on year, the change for new developments is -€1.00 per sqm.

In 2015 the asking rent in the resale segment was €9 per sqm, in 2020 €11 per sqm.

Asking rents include furnished and fixed-term lettings. Their share of total supply cannot be determined from listing data.

For new developments the series follows its own path.

Asking rents relate to new lettings. The 2022 census, by contrast, captures the entire rent level across the existing stock and reports an average net cold rent of €7.8 per sqm. In all twelve boroughs, asking rents lie above census rents. The range by borough is shown in the table.

Social housing

Berlin's building authorities reported 13,754 approved apartments for 2025 according to the final figures of the Berlin-Brandenburg Statistics Office, after 9,772 in 2024. Within social housing, the Senate granted approval for 5,175 apartments. Most subsidised apartments are aimed at middle incomes, with entry rents of €11.50 per square metre. At the end of 2023, Berlin counted just under 100,000 social housing units, against 105,000 a year earlier. Around 5,000 apartments leave their subsidy commitment each year.

Housing demand

For the period from 2022 to 2040, the 2024 Urban Development Plan Housing (Stadtentwicklungsplan Wohnen) puts housing demand at 272,000 apartments. The figure comprises additional demographic demand of 85,000 units from in-migration, relief demand of 137,000 apartments to establish a fluctuation reserve of around three percent, and a land reserve of 50,000 units. The plan makes no statements on future rent or price developments. In inner-city locations, additional housing arises predominantly through densification and conversion, in new quarters on the urban fringe through new construction.

Outlook

There is no clear citywide price trend in the third quarter of 2026. The annual change of -1.0 % is an average across movements in different directions. Prices in the larger districts have changed little through the third quarter of 2026. Friedrichshain, Kreuzberg, Charlottenburg, Wilmersdorf and Neukölln are all within a range of −1% to +3%. Larger movements are mostly found in districts with a low number of transactions. One exception is Halensee, with 17.0 % based on 73 recorded transactions.

On the interest-rate side, the ECB Governing Council raised all three key interest rates by 0.25 percentage points on 10 September 2026, following an initial increase in June. Since 16 September, the deposit facility rate has stood at 2.50%, the main refinancing rate at 2.65% and the marginal lending facility rate at 2.90%. Mortgage brokers reported rates of around 4.2% for ten-year loans on 10 September.

Berlin continues to attract international buyers returning to the market after a period of limited investment activity. International investors tend to take a more detached view of regulation and political change. The elections to the Berlin House of Representatives and the district assemblies on 20 September 2026 do not, for the time being, change the underlying market conditions.

When assessing potential regulatory changes, it is also important to distinguish between federal and state-level powers. Major changes to rent controls, index-linked rents or rent increases following modernisation cannot be implemented by the Berlin Senate alone. At state level, Berlin has greater scope in enforcement, supervision and state-specific regulatory measures. Measures under discussion include tighter rent supervision, a rent register, additional controls and further protected neighbourhood areas.

Structural conditions are likely to remain the main driver of the market. Vacancy remains very low, net additions to the housing stock are limited and supply in the rental market remains tight. Increasing the amount of housing available will therefore depend primarily on additional new construction.

Methodology

Data cut-off for this edition: transaction data as at 09.09.2026, listing data as at 31.08.2026. Current-year figures are part-year and not comparable with completed years.

Asking prices and asking rents are reported as medians, transaction prices as arithmetic means. The price gap and the comparison with census rents therefore set differently calculated measures of central tendency against one another.

Data sources: Gutachterausschuss für Grundstückswerte in Berlin for transaction data and IMV Immobilien-Marktdaten-Vertriebs GmbH for listing data. Own calculation, aggregation and presentation across Berlin's spatial levels of borough, district and neighbourhood. The figures shown are based on a model-based analysis and do not replace official statistics. Deviations cannot be ruled out.