Developer
The SCP Eisenzahnstraße 11-16 GmbH & Co. KG is a single-purpose company with the corporate purpose of implementing the Beautique Apartments project. The company will not acquire any further properties or take up any operational activities that do not directly serve to achieve the company's purpose. The general partner is SCP Verwaltung Selektion 03 GmbH, whose managing director is Einar Skjerven. He is the founder and managing director of the Skjerven Group and has more than 20 years of experience in real estate, capital markets, asset and fund management. He has already invested more than 1 billion euros in the real estate market.
Macro location Berlin
The Berlin housing market will remain very tight in the coming years. 87% state that the Corona crisis is not currently leading to falling prices for condominiums. This is the result of the current housing market barometer of the Investitionsbank Berlin (IBB), for which about 200 experts from politics and economy were interviewed.
Berlin is still booming
The signs in Berlin continue to point to growth. With an unemployment rate of 7.8%, which is comparatively low for Berlin, the number of people in employment rose significantly in 2019: 2.066 million Berliners were in work, 49,600 more than in the previous year. From 2014 to 2018 this increase amounted to 11.3 %, with an increase of 198,500 people in the service sectors alone. During the Corona crisis, unemployment figures soared to 10.8 % in July and have since fallen back to 10.1 %.
Many new jobs in the medium term
Growth drivers are for example the Tesla Gigafactory in Grünheide in Brandenburg on the eastern border with Berlin or Siemensstadt 2.0.
Prices up by 10,2%
Taking all market segments into account, the offered prices for condominiums in Berlin 2019 have risen by 10.2% compared to the previous year to an average of 4,630 euros per square meter. This dynamic shows that demand in the purchase segment continues to exceed supply.
Premium location near Ku'damm
The property is located in the Berlin district of Charlottenburg-Wilmersdorf, approx. 2 km southwest of the "City West" city centre, within walking distance of Kurfürstendamm. The underground stations "Konstanzer Straße" and "Adenauer Platz", which are within walking distance, as well as various bus stops in the vicinity provide good connections to the public transport network.
The big plus of the property is its proximity to the Kurfürstendamm, the flagship of the City West with its colourful mix of office, shopping, cultural and gastronomic offerings and living. The complete range of a city's offerings is linked there in short distances. The boulevard and its surroundings have undergone a remarkable update in recent years.
This also has an impact on the housing market in the form of increasing demand and new offers. There is hardly any space for new commercial or residential buildings, which means that it is not uncommon for older properties to be completely core demolished or to have to make way for new projects that are tailored to contemporary needs.
The further south you go from Ku'damm, the calmer it gets. Wilmersdorf is located there, which is one of the decidedly middle-class, somewhat better-off districts of Berlin. The district captivates by its charm and is still very much in demand. Sophisticated corners alternate with unagitated and simple residential streets and apart from urban flair you will also find pleasantly quiet places here.
Documents
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