One of Berlin’s most sought-after enclaves, Charlottenburg-Wilmersdorf charms with its blend of baroque and modern architecture, high-end labels and emerging designer boutiques, and city views and natural escapes.
Boundaries
Funda Bayar of Sotheby’s International Real Estate in Berlin notes that, "Until 1920 Charlottenburg was an independent city west of old Berlin. In 2004, a reorganization of the districts of the area Charlottenburg-Wilmersdorf occurred, and the former Charlottenburg was split into today’s district of Westend, Charlottenburg-Nord and Charlottenburg. The borders are the districts of Steglitz-Zehlendorf, Tempelhof-Schöneberg, Mitte, Reinickendorf and Spandau."
Price range
Christian von Gottberg, Managing Partner of Engel & Völkers in Berlin-Charlottenburg explains that, "The high demand for property in the Charlottenburg-Wilmersdorf district, along with the outstanding quality of life, is reflected in the property prices. These range from rental prices of 10 euros (US$11.80) per square meter for simple properties to 28 euros (US$31) per square meter for more luxurious living spaces. Purchase prices range from 3,000 euros (US$3,353) to 15,000 euros (US$16,764) per square meter. In the area around Kurfürstendamm, in particular, the price of residential and commercial property is far higher than the capital average. On Berlin‘s most famous shopping street, retail rents can rise as high as 320 euros (US$358) per square meter, while office rents here tend to fetch up to 33 euros (USD$37) per square meter."
Housing stock
A tasteful mix of traditional and contemporary architecture is the appeal here. "There’s an abundance of historical property, such as opulent stucco buildings that were built in Berlin around the turn of the century, many of which have been extensively renovated and preserved," says Mr. von Gottberg.
Ms. Bayar also points out that, "Renovated old buildings are in particularly high demand, as well as high-quality new buildings—especially townhouses and modern construction lofts. The neighborhood is a mixture of apartments, penthouses and villas."
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What makes it unique
This well-placed area is decidedly cosmopolitan, but with easy access to green space. Mr. von Gottberg says, "For Charlottenburg-Wilmersdorf, the same old rule applies: Quality will prevail. The mix of residential, work and shopping facilities is unique in Berlin. The most striking feature of the district is probably the Boulevard Kurfürstendamm, which is home to the most famous international luxury labels such as Gucci, Prada, Louis Vuitton, Hermès, etc. The area around this glamorous street also offers a unique selection of cultural offerings and restaurants. Out on the edges of the district there are small lakes, large parks and woodland areas, especially in Grunewald, which is the perfect retreat for leisure and relaxation."
Luxe amenities in the neighborhood
This diversions-heavy neighborhood packed with restaurants, clubs, jewel-box boutiques and high-end department stores gives little reason for residents to leave. There are schools (Freie Universität), museums (Dahlem Museum, Allied-Museum and German Archaeological Institute), plus theaters and sports stadiums. It even has its very own baroque castle—the Castle Charlottenburg—a sprawling 17th-century estate with gorgeous gardens.
Who lives there now
Painting a portrait of current residents, Ms. Bayar cites, "Diplomats, top managers, doctors, architects, professors and established artists. There are local buyers as well as foreign buyers including Russians, Chinese, Swiss and young Israelis."
Mr. von Gottberg adds, "Due to the comparatively high rental and sales prices, the district is particularly popular with high-earning, often older Berlin residents and also with families. The average age in the district is currently 45. However, younger professionals, some of them single, have also been discovering this district more and more."
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Notable residents
This area in Berlin’s inner city counts artists and intellectuals among those who have defined it. Past residents include architect Erich Mendelsohn, dancer Isadora Duncan, writers Franz Kafka and Alfred Kerr, and Nosferatu filmmaker Friedrich Wilhelm Murnau.
Outlook
This is still the "it" enclave in Berlin, and Mr. von Gottberg predicts that won’t change anytime soon: "We expect demand for property in the entire Charlottenburg-Wilmersdorf district to keep rising. It’s not only a first-class residential district but also a highly attractive destination for offices and retail outlets. In the past, Berlin has always maintained a positive migration balance. The German capital is seen all over the world as one of the hotspots in Europe, in particular for young, well-paid creative talents. There are also very few new developments in this district, as almost all building gaps have already been built on."