Berlin-Mitte: development and life in the district

Not only geographically, but also politically, economically and culturally, Mitte is the center of the capital. As the seat of government, location of embassies and companies, with its numerous shopping opportunities, cultural institutions and a dreamlike location on the Spree, it offers its public everything the heart desires. This is one of the reasons why Berlin is becoming increasingly popular internationally and is on a par with the world's greatest metropolises. In the following chapters, we will take you on a journey through the exclusive real estate market of Berlin-Mitte and show you what it has to offer.

Real estate market in Berlin-Mitte

The real estate market in Mitte is exclusive, sophisticated and in demand internationally. Prices for rent and property have more than doubled in recent years. Pure use of real estate as living space is rare here. The properties are home to stores, corporate offices and apartments in equal measure. The streetscape is composed of picturesque old buildings, modern building complexes and nostalgia-spraying GDR slabs, reflecting the melting pot existence of Berlin-Mitte.

Average rental prices

21

EUR / m²

+44.45%

Average purchase prices

7,379

EUR / m²

+22.99%

Rental offers

397

-41.99%

Purchase offers

937

-17.39%

Mitte: Real estate supply and development

Mitte is becoming increasingly important as a real estate location, especially for the international public. Despite dynamic construction activity, however, the supply is very low. Since the potential for new construction sites has almost been exhausted, land prices are rising enormously. New residential and commercial space is mostly being created through the costly additions to, or conversion of, existing properties.

Offer of properties for rent and sale in Mitte

Rental offers
Purchase offers

How are property prices developing in Mitte?

In Mitte, property prices have risen particularly sharply in comparison with the rest of the capital. Its real estate prices therefore put it on a more equal footing with other global metropolitan areas than with the surrounding districts of Berlin. Due to the exclusivity of the residential location and the rarity of the supply, it can be assumed that the price level prevailing here will continue to rise in the future.

Purchase price (m²) in Mitte

Existing building

Average purchase prices

7,379

EUR / m²

+22.99%

New builds

Average purchase prices

10,009

EUR / m²

+9.02%

Average purchase price Mitte

New build
Existing building

Current rents and development

Rents in Mitte have also skyrocketed in recent years. The end of the rent cap leads us to expect that rents for existing properties and new buildings will sooner or later reach a similarly high level. After all, the international and afflueunt public is more than willing to pay them.

Average rental prices in Mitte

Existing building

Average purchase prices

7,379

EUR / m²

+22.99%

New builds

Average purchase prices

10,009

EUR / m²

+9.02%

The population of the district

With over 380,000 inhabitants, Mitte is the second most populous district in Berlin. In first place is Pankow with over 410,000 inhabitants. The population in Mitte is international and young. The proportion of people over 65 is similarly low as in Friedrichshain-Kreuzberg. At over 70 percent, the proportion of people of working age 18 to 64 is particularly pronounced here, with 20- to 40-year-olds making up the majority.

Residents Mitte
The five largest international populations in Mitte

Migration in Mitte

Moves in

27,679

Persons

-24.93 %

Moves out

20,534

Persons

-3.78 %

In the year 2021, development compared to the previous year

Living in Berlin-Mitte

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