Construction projects in Berlin climb to record high
Berlin is developing increasingly into an El Dorado for project developers. This is the upshot of a survey BulwienGesa Valuation undertook on behalf of developer Hochtief Projektentwicklung and cooperative bank Berliner Volksbank.
The survey by the market analyst looked at projects completed, under construction or in planning. It returned a record result for the Berlin-Potsdam metro region: between 2011 and 2018, the volume of the project development floor space that has been or will be completed rose to around 7.66 mln square metres. This is an increase by 655,000 sq.m. since 2013 which itself was a banner year.
The trend is led by housing construction: residential projects account for 66% or 5.06 mln sq.m. of development area. The latter figure breaks down into a 60% share of condominiums and a roughly 32% share for rental flats.