Around 16,000 people currently live in the highly sought-after Kollwitzkiez in the district of Pankow. Young families and well-heeled couples in particular are drawn to this residential area in Prenzlauer Berg. The residential buildings date back to the Wilhelminian era and exude a unique Berlin charm.
Kollwitzplatz, around which the neighborhood of the same name extends, was named after the sculptor, graphic artist and painter Käthe Kollwitz. The German artist was born in Prussia in the mid-19th century and died near Dresden in 1945.
The Kollwitzkiez is bordered by Prenzlauer Allee, Schönhauser Allee, Danziger Straße and Torstraße. The residential buildings have been extensively renovated in recent years and now shine in their former glory. It is not surprising that the apartments with their high windows and ceilings, stucco decorations and wooden floors are among the most expensive in the whole of Berlin.
But how has the real estate market actually developed? What prices are buyers paying for a condominium and how can the sale of a property be handled without complications?
Selling a property in Kollwitzkiez - A look at the current situation
Around 16,000 people live in over 9,000 households in Kollwitzkiez, which speaks for a relaxed coexistence. Every year, new families, young couples and single people look for their dream property in Kollwitzkiez. In addition, there are investors who are aware of the neighborhood’s great potential and want to invest in a rented apartment in Kollwitzkiez.
The neighborhood’s excellent infrastructure, its location in the heart of Berlin and its high quality of life have a major influence on the high property prices. Demand is huge, as many people would give anything to live in this residential area in the middle of Prenzlauer Berg. Not even the critical situation in Eastern Europe or rising interest rates on loans can affect the high demand for apartments in Kollwitzkiez in Berlin.
The situation is somewhat tense throughout Berlin. People looking to buy an apartment in Kollwitzkiez or other popular districts in the capital are on the hunt for the right property. Anyone who advertises their condominium can hardly save themselves from inquiries. Nevertheless, the sales process is anything but simple. The documents have to be checked, because a property in the center of Berlin is expensive. As the seller, you want to make sure that the potential buyer can actually afford the agreed sum. That’s why it pays to work with a professional estate agent. In this way, you will find the necessary support so that the sale of your property can be completed quickly and without complications.
The price trend for real estate sales in Kollwitzkiez
Unfortunately, there is no data available that explicitly covers the Kollwitzkiez. For this reason, information and prices available for properties in Kollwitzstraße are used here. The residential area is not particularly large, which is why property prices in the entire neighborhood are roughly the same. If you require information on a specific property, please contact our team of experts. We will be happy to advise you and provide you with information on specific properties in Kollwitzkiez in the Prenzlauer Berg district.
Generally speaking, prices in the residential area around Kollwitzplatz are well above the average prices for Berlin as a whole. This is partly due to the excellent condition of the residential buildings, but also to the central location of the neighborhood and the high quality of life it offers.
The development curve runs roughly parallel to the curve for Berlin as a whole, although properties in Kollwitzkiez are on average € 2,500/m2 more expensive than in Berlin in general. Prices have risen significantly in recent years, although there was a slight decline in the first quarter of 2023. Although the real estate market in Kollwitzkiez has not collapsed under the current challenges, investors are currently much more cautious than they were a few months ago.
What price can a condominium in Kollwitzkiez be sold for?
As an investor, you may have decided to buy a property in the Kollwitzviertel a few years ago and now want to sell it again. Or perhaps your condominium is an heirloom that has been in the family for many years. But whatever your starting point, you will naturally want to find out what price you can sell your apartment for.
As already mentioned, apartments in Kollwitzkiez are significantly more expensive than in other parts of Berlin. The Prenzlauer Berg district is known for its infrastructure, central location and special charm. Newcomers are prepared to pay a lot of money for their living space. As there are more apartments in demand than available, prices are rising continuously. In the first quarter of 2019, they were around €5,000/m2, in the first quarter of 2020 they were already €5,500/m2. Looking at current prices, they are around €6,800/m2. The most expensive properties in Kollwitzkiez so far were in the third quarter of 2022, when they reached a high of €6,900/m2. An analysis of price trends over the past few years shows an increase of 36 percent. Even though other residential districts in Berlin have experienced even higher price increases, it is important to note the considerable starting point in Kollwitzkiez. Prices are on average around €2,500/m2 higher than prices in Berlin as a whole.
What price can a house in Kollwitzkiez be sold for?
Most of the properties in the Kollwitzviertel are condominiums that are either owner-occupied or rented out. If you own one of the special townhouses in this residential area, you will find potential buyers within a very short time. Refurbished coach houses, which are usually located in the backyards of large residential buildings, are highly sought-after on the real estate market and achieve considerable sales prices.
Single-family homes in Kollwitzkiez peaked at the end of 2022 at an impressive € 7,100/m2. In the first quarter of 2023, prices fell by an average of 4% and are now at the level at which they started 2022. Compared to 2019, this represents a price increase of 39.5%.
Even if you can theoretically initiate the process of selling your property yourself, we recommend that you make use of professional support. The entire process can then be handled smoothly and you don’t have to deal with bureaucratic procedures or checking prospective buyers.
What net cold rent can be estimated for an apartment in Kollwitzkiez?
Would you like to rent out your property in Kollwitzkiez? In addition to sales prices, rental prices in the residential area around Kollwitzplatz are also significantly higher than in other parts of Berlin. On average, you can expect to pay €15.50/m2 for the net cold rent of your apartment. This compares with just €11.45/m2 for Berlin as a whole.
Prices have risen significantly in recent years. Until the middle of 2020, the increase was curbed by the rent cap, but a significant rise in rents was observed from 2021 onwards. In March 2021, the Federal Constitutional Court ruled that the rent cap in Berlin is not compatible with the Basic Law.
In the third quarter of 2021, the average net rent in Kollwitzkiez in Pankow was € 12.35/m2. Looking at the development curve between the third quarter of 2021 and the first quarter of 2023, an increase of 25.5 percent becomes clear. Unlike sales prices, there has been no crisis-related slump in rental prices.
Criteria for determining the value of real estate in the Kollwitzkiez
There are several factors that can either increase or decrease the value of a property. These include, for example, the year a house was built or its structural fabric. Other factors include the furnishings or interior design. For example, a renovated apartment in an old building with original wooden flooring costs more than a renovated apartment in an old building with tiles.
However, there are also criteria that are not directly related to the construction method or the condition of the property. Certain locations increase the value of a condominium. You can find out which factors increase the value of apartments and houses in Kollwitzkiez here.
Of course, there are also criteria that can reduce the selling price of a property. The residential area around Kollwitzplatz is part of a social conservation area. Politicians have been working for several years to preserve the cityscape in Berlin. Due to the many renovations and new buildings, property prices have risen sharply in recent times. The rent freeze no longer exists either, which is why rents continue to rise steadily. Many owners have decided to stop renting out their apartments and use them themselves instead. The rising prices displaced many families who had already lived in the neighborhoods for many years. To counteract this gentrification, milieu protection areas were established. Special regulations apply in these areas, which apartment owners must comply with. These include, for example, that rented living space may not be used by the owner without further ado. In addition, the living space cannot be changed without the consent of the responsible authority. You are not authorized to combine two apartments into one or make similarly invasive changes.
Wide range of restaurants and leisure activities
You own a property in Kollwitzkiez and therefore know from your own experience what a diverse range of offers the residential district has to offer. Berlin is known for its authentic restaurants and quaint bars. But there is hardly any other neighborhood with as many dining establishments as Kollwitzkiez.
Specialties from all over the world come together in the district around Kollwitzplatz. Buyers or tenants of your apartment can find everything their heart desires directly on Kollwitzstrasse. Whether Israeli, Italian, Georgian, French, Catalan or German cuisine – everything is represented.
This is an advantage for your condominium, as the future residents of the property can look forward to informal, carefree evenings with their friends. Without having to get on the bus or fetch the private car from the parking lot, you can sample the gastronomic delights of different countries during the week or at the weekend. This advantage over other parts of the city has a positive effect on residents and therefore also on the selling price of a property.
Extensive green spaces
Even though Kollwitzkiez is located right in the center of Berlin, it has several large green spaces that are just as popular with residents as they are with tourists strolling through the German capital, especially in the summer months. The listed Wasserturmplatz square is enchanting with its old trees, winding paths and water tower. The playground is popular and frequently used by children in the area. The water tower is one of the landmarks of Prenzlauer Berg, as it is the oldest of its kind in Berlin. Today there are renovated apartments inside.
The Jewish cemetery was closed in 1880 and is also a listed building. Today it is used by families living in the Kollwitzkiez as an oasis of peace. It is laid out like a park and has beautiful old trees, walking paths and benches in shady spots.
The green parks in Kollwitzkiez are places where the residents of the neighborhood can relax. They are used for picnics with friends, long walks and time-outs and increase the quality of life in the neighborhood. That’s why your property has a clear competitive advantage if it is located near a park in the Kollwitzkiez in Prenzlauer Berg.
Very good infrastructure
Berliners are known for using public transport in everyday life. This avoids the annoying search for a parking space and gets you to your destination much faster. However, a good infrastructure is needed to make this lifestyle possible. Shopping facilities, schools and doctors must be in the immediate vicinity. This is the case in Kollwitzkiez. Residents do not have to travel long distances to run their errands. The infrastructure supports the active everyday life of Kollwitzkiez residents. Bus stops, streetcar lines and train stations are in the immediate vicinity. It is also easy to get to your destination by bike in Kollwitzkiez in Prenzlauer Berg. All these factors have a positive effect on the sales price of your property. The positive aspects must be presented to potential buyers in the best possible light. That’s why it makes sense to commission a real estate agent to present your apartment.
High quality of life
Anyone looking for a property in the heart of Berlin wants a place to live with a big city feel. The residential districts of the German capital are known for their small restaurants and bars, playgrounds and stuccoed facades. While numerous tourists stroll through the streets during the day, especially in the warm summer months, things quiet down in the evening. All the places you need to visit in everyday life are within walking distance or can be reached by public transport. What’s more, although you live in the heart of a metropolis in Berlin, you still get a carefree living experience.
In the afternoon, you go for a walk with the children and explore the playgrounds before meeting up with good friends at your favorite restaurant around the corner in the evening. The high quality of life in Kollwitzkiez naturally has a positive effect on property sales prices. People are prepared to pay good money for this incomparable lifestyle.
Conclusion
Kollwitzkiez is located in the middle of Prenzlauer Berg, one of Berlin’s most popular districts. If you own a property here, you can sell it for a considerable amount. Over the past ten years, most of the apartments in the stately residential buildings from the Wilhelminian era have been extensively renovated to meet the latest standards. In addition to the solid building fabric and the modernization work, there are other factors that increase the value of a property.
If you want to sell or rent out your condominium, you can expect numerous interested parties. However, finding the right buyer or tenant involves a great deal of effort. The value of a property in Kollwitzkiez is high, which is why prospective buyers need to guarantee their financial stability.
A professional estate agent can support you during the sales or rental process, advise you and relieve you of time-consuming tasks.
Would you like to buy or rent a property in Kollwitzkiez? Then read more in our article “Buying & renting real estate in Kollwitzkiez (Prenzlauer Berg): Condominiums & houses”.
