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Brad’s Berlin Briefing
November 27, 2015Article by Clare Moorhouse
Property Frontiers’ very own Brad Wiid took a weekend city break to visit his brother who has lived in Berlin for 6 years. We caught up with him on his return to find out what he really thinks of the city and get the low-down on the construction progress of Property Frontiers’ buy-to-let investment in Berlin, Stadtpark Steglitz.
What were your first impressions of Berlin?
Berlin is a very welcoming and accepting city. From the moment I arrived, I felt at home because everyone was so friendly. The city has a vibrant, young and creative feel to it: the music, the street art and the beautiful architecture. I loved it and I can really see why my brother has decided to call it home.
Apart from visiting your brother, what else did you get up to whilst you were there?
There are so many great things to do in Berlin that it can be a bit overwhelming deciding what to do first! The Tiergarten, Brandenburg Gate and the Topography of Terror were amongst the must-see sites if you ever visit Berlin. I also enjoyed experiencing the local beer in a brauhaus and sampling an authentic German currywurst. Awesome!
How did you get around the city and how do you rate the public transport system in Berlin?
I used the S-bahn a lot whilst I was there: a fast overground train which is an affordable, clean and very punctual. The most useful S-Bahn route for tourists is the circular ‘Ringbahn’ that goes around the centre of the city. For those living in Berlin, S-bahn stations are conveniently located in the residential suburbs, so getting about is very easy, fast and hassle-free.
What was the reason for your brother moving to Berlin?
He was offered a job out there as Director of a global tech company. Like many young entrepreneurs in the tech industry, Berlin tends to attract young, dynamic, free-thinking innovators eager to work for innovative tech start-ups.
Does he enjoy living in Berlin?
Absolutely! He’s been there for 6 years now and has bought up a young family there. He likes the fact that it’s cheap to live, and compared to other capital cities renting property in Berlin is very affordable. Berlin is also a green city and there are plenty of beautiful parks to get away from the hustle and bustle and keep kids entertained.
You visited the development, Stadtpark Steglitz whilst you were there, what’s the district of Steglitz like?
Steglitz is a very affluent area, full of young families and young professionals. It’s immaculately clean and leafy with a large park and some good local shops. There is a huge shortage of new developments in Steglitz, so I won’t be surprised if there’s a waiting list of tenants waiting to move into Stadtpark once it’s completed.
Stadtpark Steglitz is currently under construction. What stage is it at?
The scaffolding has been erected and the structure is already in place for haus 1 and 2, so construction is well on target for completing in early 2017. There’s a Sales and Marketing suite on site where you can view the quality of the bathrooms, floors and doors, which are truly outstanding. Everything from the way the toilet flushes to the way the taps turn on is slick and super impressive.
Did you manage to meet the developers, Diamona and Harnisch whilst you were there?
Yes I did. They showed me around the construction site and also 6 of their completed developments in the area of Tiergarten – all of which are 100% occupied. Their developments really stand out as being of high quality construction.
So now you’ve sampled Berlin for yourself and had a good look around the area, what’s the one piece of advice you would offer anyone interested in investing there?
Berlin is a fantastic market to invest in with a vibrant tenant community waiting to snap up the next available property. If you’re looking to invest in this market, you have to think longer term. Tenants rent for an average of 10 years in Berlin so you won’t have the hassle of finding tenants every few years. Of course, you’ll get a good yield (around 5-6%) but when you come to reselling in say 10+ years, that’s when you’ll see the real return on your investment.
To find out more about Brad’s trip to Berlin download his Berlin Briefing here. To find out about our fantastic buy-to-let opportunities in Berlin, contact the team at Property Frontiers on +44 1865 202 700 or request your FREE Berlin Insight Guide here.