REAL ESTATE FOR SALE (€ Euro 292,000)
Apartment for sale in Berlin Prenzlauer Berg Pankow Germany

Ref: 000R0636


District: Pankow


Location: Prenzlauer Berg


Located in direct neighbourhood to the well-known Kollwitzplatz in Prenzlauer Berg, this apartment comprises 2 bedrooms, living room, big-living kitchen of approx. 45m², bathroom as well as a small balcony. The area: Countless pubs, restaurants, cafés, galleries and little shops create a day and nightlife atmosphere unrivalled in the rest of Berlin. The well-known Alexanderplatz is only 2.5km away. The public transportation connections are excellent.


Specifications:

Apartment is in very good condition

Big living-kitchen (not furnished)

First-class bathroom

Flooring: Timber floor board and parquet

Small balcony

Separate storage room in the cellar

Building is in good condition (completely refurbished approx 12 years ago)

Top location in Prenzlauer Berg – Alexanderplatz is only 2.5km away and the well-known Kollwitzplatz approx. 1.8km

Payment:


100% after signing of the notarial purchase contract.


Prenzlauer Berg:


Prenzlauer Berg is a former borough of Berlin situated in the eastern part of the city. In 2001 Prenzlauer Berg was combined with the former boroughs Pankow and Weißensee under the name of Pankow.
After German reunification in 1990 Prenzlauer Berg soon attracted young people, often referred to as hipsters, with its alternative lifestyle. Today Prenzlauer Berg is one of the trendiest areas of Berlin… from businessmen to students; everyone wants to live in this borough with its stunning old buildings.
Prenzlauer Berg's urban apartment block structures have, for the most part, been renovated. This and rising property values have led to more wealthy residents moving into some areas of the borough.
Countless pubs, restaurants, cafés, galleries and little shops create a day and nightlife atmosphere unrivalled in the rest of Berlin.
Kollwitzplatz and Helmholtzplatz with weekly street markets, the former breweries Kulturbrauerei and Pfefferberg and Kastanienallee are the hot spots of interest.
Besides diverse tram and bus lines, Prenzlauer Berg is above all connected to the public transport net by the underground U2 (alongside Schönhauser Allee) and by the ring train S41/42 and city train S8.


Berlin:


The capital of Germany is dynamic, cosmopolitan and creative, allowing for every kind of lifestyle. East meets West in the metropolis at the heart of a changing Europe.
After experiencing a staggering drop in housing prices since the early 90s, Berlin’s property market is springing back to life. No other property market in Europe offers such undervalued property prices and a solid rental market.


Rental Potential:

The trend goes to properties which are situated in medium/good locations near the town centre.

Berlin: 88% of the habitants are renting properties - 12% are property owners.

Germany has a strong rental culture and tenants tend to live in a property for many years. Therefore, they treat rented property as if it was their own, and this works to the advantages of the owner. Property is let without furniture so tenants must provide their own. This situation might seem a good prospect for investors looking for regular income while they wait for their property to appreciate.

2 Bedroom Apartment – Fourth Floor - Apartment Specification

Rooms (Living/Dining Room and Bedrooms): 3

Living Size (approx.): 124m²

Balcony: Yes

Year of Construction: 1905

Availability/ Move-in: Immediately

Yearly additional costs for landlords: approx. 780 € per year (no allocatable overheads)


Heating costs and allocatable overheads like yearly building insurance, housekeeping etc. are going on top of the basic rent and has to be paid by the tenants: approx. 1,560 € per year


Expected basic rent: 14,880 € per year (10.00 € per m²)


Net Yield*: 4.83% (yearly additional costs are considered)


From 292,000 €