Despite a large number of market uncertainties due to the Iran crisis, oil price and interest rate developments, as well as ongoing geopolitical uncertainties, the Berlin market for apartment buildings and residential/commercial buildings in the second quarter of 2026 is much more positive than many market participants expected. These are the results of the 'Apartment Building Market Report Berlin QII 2026', which is published on the basis of figures from the Berlin Valuation Committee and SCHICK IMMOBILIEN's own calculations.
Fig.: Development of sales MFH/WGH Berlin (€ billion), QI 2023 – QII 2026
After a noticeable decline in the first quarter of 2026, sales and market activity are back significantly. At EUR 901.6 million, the transaction volume in Q2 2026 was around 47 percent higher than in the same quarter of the previous year (EUR 613.2 million). With 179 completed transactions, purchase cases recorded an increase of around 8 percent compared to 166 in Q2 2025.
The price development is particularly remarkable in view of the market environment. According to an initial analysis (around 27 percent of all purchase cases) of the current figures of the Berlin Valuation Committee, the price level for apartment buildings in QII 2026 will remain slightly below the previous year's average at around €2,062/m² of living space (2025: 2,285 /m², around -10 percent). At the same time, residential and commercial buildings sold in Q2 2026 achieved a significant increase of around 11 per cent compared to their average price in the previous year (€2,110/m²) with around €2,342/m² of residential/usable space.
Fig.: Average purchase prices MFH vs. WGH Berlin (€/m² WNF), QI 2024 – QII 2026
Further price declines, as rumoured by some market participants after the weak start to the year, are therefore not to be expected. Rather, after the dip in the first quarter of 2026, the Berlin residential investment market seems to be returning to its stable long-term development, which it has started since 2024.
"The current figures show that the Berlin apartment building market is more resilient than many market observers expected. Especially in view of the ongoing geopolitical and macroeconomic uncertainties, the latest figures are remarkable. The development of the second half of the year will have to show how market activity and price levels will develop," says Jürgen Michael Schick, Managing Director at SCHICK IMMOBILIEN and publisher of the apartment building market report for Germany and Berlin.
Significant differences between Berlin districts in property prices and market activity
At the district level, there are clear differences in Berlin both in average property prices and in market activity. In the second quarter of 2026, the highest average property price was in Tempelhof-Schöneberg at around €10.7 million, while the lowest values were achieved in Marzahn-Hellersdorf at around €0.9 million.
Fig.: Purchase cases MFH/WGH Berlin district level, QII 2026
Transaction activity is also unevenly distributed across the city. The highest number of transactions was registered in Pankow with 26 transactions, while Marzahn-Hellersdorf also brings up the rear here with only two transactions this quarter. In terms of transaction volume, Pankow also leads the ranking with around 166.9 million euros, just under a fifth of Berlin's total quarterly turnover, while Marzahn-Hellersdorf recorded the lowest volume with 1.8 million euros.
