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Berlin apartments increase by 9.4% in 2010

Apartments became significantly more expensive again in 2010. According to a survey by the ifs institute for urban development, prices rose by an average of 4.2% to €130,900. The institute said the increase is mainly due to the increasing appeal of apartments as investments. Regionally, there are significant differences. Rising to €227,900, a hike of 5.4%, the highest prices are again in Munich. The city is followed in the top apartment price ranks by Hamburg, Dusseldorf and Cologne. Berlin, with an increase of 9.4%, showed the greatest rise. With an increase of 4.4%, Eastern Germany’s Dresden also saw positive price development. For the coming years, ifs predicted relatively constant price development.

(Source: TD News International)