Prenzlauer Berg was developed during the second half of the 19th century based on an urban planning design from 1862 by James Hobrecht, the so-called Hobrecht Plan for Berlin. Envisaged as a working-class district, its tenement houses (in German: Mietskasernen) were mainly inhabited by intellectuals, artists, and students in the former German Democratic Republic.
This area of former East Berlin is now perhaps the most sought after area to live for professionals and young families. The area was relatively unscathed by Second World War bombing, leaving street after street of intact 19th and early 20th century apartment buildings. It offers an abundance of beautiful pre-war ‘Altbau’ buildings, the vast majority of which have been completely restored since unification of the city. Rising property values have led to more wealthy residents moving into some areas of the borough.
It is close to central Berlin and has a lively café, bar and restaurant scene as well as several parks and green spaces. Popular places to go out include Kastanienallee, Kollwitzplatz (home to the sculptor Käthe Kollwitz), with its excellent Saturday market, Kulturbrauerei (an expansive brewery which has been transformed into a centre for culture and evening entertainment) and Helmholtzplatz. Keeping in rhythm with a slower, more livable pace, this area also abounds with several weekly street markets and the world-famous Mauer Park Flea Market every Sunday. This area is also home to countless advertising, design and media firms and traditionally the bohemian quarter of East Berlin,this is still a haven for artists and alternative culture, despite gentrification.
|Some of the Highlights of Prenzlauer Berg|
Over a period of only 3 years the purchase prices for apartments in Prenzlauer Berg rose from 2,300 €/m² to 3,000 €/m² while the rents in the same time span went from 7.30 €/m²/month to 9.24 €.
Because of its ambiace Prenzlauer Berg is attractive as a location for condos to be used by he investor as much as a buy to let investment in rented apartments. Attractive developments with excellent potential and both options are coming up for sale . More detailed information can be found here: www.Properties-in-Berlin.com.