Driesener Strasse Berlin

There are 24 units in this Altbau property built in 1910, with apartments ranging between 1-4 rooms. The building is currently being renovated by Inspiration Group. The modernization of the building includes the renewal of the property’s facades and balconies, as well as renewal of the guttering and refurbishment of the basement.

The beautiful Stucco engravings which decorate the building will be preserved as part of the modernization work.

Individual water heating systems are installed in each apartment.

The Centrally located neighborhood of Prenzlauer Berg, adjacent to Mitte, is one of the most popular and expensive neighborhoods in the city, attracting young affluent residents, in particular young families.
A large number of restaurants, coffee shops, galleries, pubs and boutique stores create the unique life style characteristic of Prenzlauer Berg.

Driesener Straße 3 is located on a quite cul-de-sac with beautiful classic Altbau buildings. Schonhauser Allee metro stations are just a short walk away from the property.

Driesener Strasse 3 presents a unique investment opportunity, with prices of apartments in the property significantly below similar apartments in the area.

Prenzlauer Berg together with adjacent Mitte were the first neighbourhoods to become high demand areas in what was once part of East Berlin.

During the last decade, attracted by the beautiful altbau properties the neighbourhood experienced a true renaissance as German and international members of Berlin’s professional upper class made Prenzlauer Berg their home.

A vivacious cultural and leisure scene evolved further accelerating a process of gentrification in the area. The combination of central location, high quality education, an abundance of parks and relatively large apartment has turned Prenzlauer Berg into the hub of Berlin’s more affluent and trendy young generations.

Rental Demand

The increasingly high demand for properties in the area caused a upward trend in rental prices; within a radios of 500 meters from the property new rental contracts reach 10 – 12.5 EUR/SqM. According to the data published by CBRE, new leases in the area’s top rental segment stand at 15.2 EUR/SqM.

The strong demand for apartments in the area creates a high level of security, ensuring future re-rental and very high potential increase in future yields.

Re-Sale

The market price for newly renovated vacant apartments in the immediate vicinity reach 4,000 EUR/SqM. Rented apartments in a radios of 500 meters from the property are marketed for 3,000 EUR/SqM.

This gap reflects the substantial capital-gain potential of the investment.