IN BERLIN, APARTMENTS ARE THE RAGE By Friedrich Geiger
Berlin saw a record number of tourists last year, but Germany’s capital also is becoming a place where more people want to live.
Demand for condominiums in Berlin is rising, driving sale prices higher. In the middle-market districts of Friedrichshain-Kreuzberg, Steglitz-Zehlendorf and Lichtenberg, apartment prices rose more than 10% last year. Upscale areas such as Mitte and Prenzlauer Berg have seen significant price increases for several years. The strong demand and resulting price increases make apartments in Berlin the most attractive residential investment among 27 major European cities, according to a recent PricewaterhouseCoopers survey of real-estate and finance experts.