Berlin landmark reinvented as luxury apartments

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Berlin has been the hottest tip in European residential investment for several years, and it's showing no signs of slipping. The second most populous city in the EU, Germany's cosmopolitan capital is home to 3.7 million people hailing from over 190 countries. With the vast majority of these people preferring to rent, Europe's largest buy-to-let market is a perfect fit for landlords and overseas property investors.

Considered a safe haven for global capital, Berlin was named the best city for overall investment and development prospects for the fourth year running by PwC's Emerging Trends in Real Estate Europe 2018 report. Research by Jones Lang LaSalle (JLL) found that Berlin property appreciated by 14.9 percent in the 12 months to August 2017, while rental prices rose by 9.4 percent during the same period.

The main obstacle facing investors is that Berlin's residential market is extremely tight, with restrictions on new builds and an affordable housing mandate making the supply of new properties fall far short of demand. One way developers are working around this is by converting existing office buildings in sought-after locations into apartments. The most striking example of this trend is ÜBerlin, a new collection of 330 residences by developer CG Gruppe that offers sweeping views over West Berlin from one of its most iconic buildings.

Heart of West Berlin

Beyond real estate gains, Berlin is also one of the best places in Europe to do business. Investment in start-ups jumped 88 percent last year and the soon to launch Google Campus will give a further boost to Berlin's reputation as a global hub of technology and innovation. Leading German firms including Deutsche Bahn, Mercedes-Benz and Siemens have their headquarters in Berlin, alongside a growing number of multinationals.

Germany's capital is also one of the most popular destinations to live and study in Europe. The city has more than 800 schools and four major universities – the Freie Universität Berlin and Campus Benjamin Franklin being close to the ÜBerlin development. Berlin's rich history and culture is on display throughout the city, with over 440 galleries, 118 museums and abundant historical sites including the Reichstag, the Brandenburg Gate and remaining sections of the Berlin Wall.

ÜBerlin is located in Steglitz, a green residential area in the south-west of the city close to Berlin's Botanical Garden and surrounded by parks, forests and lakes. For shopping and dining, it's just two minutes' walk from the development to Das Schloss mall and the Schloßstraße shopping mile. The U-Bahn underground station is just 10 minutes on foot and the entrance to the A100 highway is also nearby, opening up travel all over Berlin and further afield.

Live the high life

ÜBerlin occupies the famous local landmark formerly known as the Steglitzer Kreisel. Built from 1969 to 1980, this 29-story building previously housed government offices, but a radical makeover by architects Fuchshuber Architekten involving glass balustrades and overhanging balconies is making the tower brand new again. Special attention has been paid to sustainability, using an air heat pump to regulate internal temperatures and solar panels to supply renewable electricity.

Every vantage point in the tower offers uninterrupted panoramic views over West Berlin all the way to the horizon. Many apartments feature a private balcony or loggia and floor-to-ceiling windows to make the most of the scenery, as well as generous ceiling heights, underfloor heating and premium fittings available in a choice of two design schemes. The 330 residences range from carefully planned 31 square meter studios for singles and couples to spacious 315 square meter apartments for families.

Residents will also have exclusive access to a hotel-style lobby area and a 24-hour concierge. The base of the building will feature more shopping, dining, health and leisure facilities right on the doorstep and 242 private underground parking spaces for residents. A number of apartments at ÜBerlin are now available for Hong Kong buyers starting from €259,000, with the project expected to complete by early 2022.

For more information about ÜBerlin and other residential properties in Berlin, click here or contact JLL International Properties at +852 3759 0909 or [email protected].