Period Flats in Mitte! Condominiums as Private Investment in Berlin-Mitte
Berlin’s historic core is regaining its significance as city centre and combines a wide variety of functions. Prime locations downtown are more coveted than ever. For the longest time, development stagnated on the northern and north-west edge of the borough, but keen demand caught up even with these areas lately.
Mitte, the borough hosting downtown East Berlin, is marked by great heterogeneity. Culture, politics and an international flair define the character of the inner city and neighbouring quarters, whereas the northern part of Mitte has been slow to change. Just years ago, flat hunters were barely aware of the areas along Torstrasse and Chausseestrasse. It took a long time before the strip of brownfield land marking the course of the former Berlin Wall was discovered as land reserve.
Lately, though, with the construction of the new head office of Germany’s intelligence service BND, the area has begun to see serious changes. In fact, it has become something of a hot spot in the city’s housing construction market, with rental flats coming onto the market in large numbers. One of the consequences of the surge is a rise in mean asking rents by 20 percent since 2017 for the area around Chausseestrasse, putting it slightly ahead even of the Unter den Linden boulevard as top-ranking location.
A Condominium in Berlin Mitte as Buy-to-Let Investment A Safe Bet for Your Retirement Planning
Many consider Berlin the most liveable city in Germany and place it at the very top of the popularity list. The statistics show an unending flow of incoming migration. Backed by upward economic growth, Berlin has increasingly turned into a qualified choice as permanent place of residence, especially for young people. Highly skilled professionals like to be close to established or emerging business and research locations. Having a centrally located place of residence with convenient transport links remains a key criterion.
At the same time, period flats as buy-to-let investments in this coveted residential area present a great opportunity to bolster your private retirement plan. Bear in mind that few people who move into a period building in Berlin-Mitte will ever want to move again. This makes it safe to expect a stable rental income.
Among the most compelling features of this Belle Époque building on Torstrasse are its handsomely designed façade and the original period elements that were preserved. Eye catchers include the arched windows and wooden double-cased windows. In fact, the sheer size of the building is impressive. It consists of a front building, two side buildings and two back buildings, accessed via six separate entranceways and two inner courtyards. The five floors of the front building divide into five commercial units along with flats of 1 to 3 bedrooms and of around 40 to 106 square metres in residential floor area. Moving in and feeling right at home is the thing to do here. Few will be able to resist the typical period building character of the extraordinary flats.
In conjunction with refurbishment work, the apartment building will be fitted with lifts and will be expanded to include attic flats. The building is supplied by a gas-fired central heating system.
There are nine parking spots in the first of the inner courtyards plus bicycle racks recently installed.
Buying one of these attractive apartments means you will be investing in your own future. Because as a buy-to-let investment, ownership of a period flat in Mitte is an optimal asset-building opportunity. Please to not hesitate to get in touch with us – we will be happy to advise you!