Our Berlin office opened in 2017 and we now have several boutique and smaller developments under our management, with a number of new projects planned for completion across the city.
The team now has 83 properties under management and is currently assisting 109 tenants with their property needs. This phenomenal success can be credited to a number of key instructions across several developments across the city. Richard Quartier, AM Tierpark, KODA and The Galleries are few of our stand-out developments for the team in Berlin which proved to be extremely popular with tenants. We have provided a short overview of both of the developments below:
Richard Quartier is located in one of Berlin’s oldest and most popular residential areas, Richardkiez. Many people recognise this area as one of the most exciting places to live in Berlin due to the cosmopolitan atmosphere which transcends the cityscape at every corner and unities the melting pot of cultures. Our team managed to secure a 100% occupancy rate across our instructed units at Richard Quartier with the average monthly rent being €909 and an average rental yield of 6.8%.
AM Tierpark was one of the first developments which our team worked on in Berlin. This development is located in Lichtenberg, which is a leafy residential district in east Berlin. The team secured five full managed rentals with an average monthly rent of €1,138 and an average rental yield of 3.7%.
Positioned neatly within the ever-transforming and trendy area of Neukölln Berlin, our KODA development was always going to prove to be extremely popular with tenants. As of 28th March, our team have tenanted 99% of our instructed units within an average rental yield of 6.18%.
Our team in Berlin have managed to secure 100% asking price for all of tenancies – which can be contributed to the extremely high proportion (82%) of furnished properties.
The Galleries is located in the Friedrichshain district, Berlin’s most fashionable district. This dynamic district is fully of trendy boutiques, and bars which contributes to the area’s youthful lifestyle – making it extremely popular with locals.
Since its completion at the end of 2018, we’ve tenanted 72% of all instructed units with a pipeline of tenancies waiting to commence at The Galleries. As it currently stands, the average rent was €1,125 and an average rental yield being 3.5%.
Across all of our schemes in Berlin our typical tenant profile is extremely similar, if not the same in some cases. Typically, our tenants are either students, who are studying at one of Berlin’s many universities, young professionals and international expats, who are working for one of the many multi-national or German companies based in the city.
With many more projects due for completion over the coming months, the team’s success is going to continue its upwards trajectory. Especially, with the recent sale launches of Eden West and Einbecker 47 by our sister company IP Global, the Berlin rental market is really on the rise.
If you would like to find out more about our offering in Berlin, please contact the team on +49 3094 866 863 or email the team at email@example.com