Berlin fact of the day

Berlin has some catching up to do. Apartments in Berlin cost just 25% more in 2010 than in 1977, whereas prices in Hamburg and Munich—Germany’s second- and third-largest cities—rose by 55% and 135%, respectively, over the same period, according to real-estate association Immobilienverband Deutschland, or IVD.

Last year, the average price paid for apartments in popular Berlin locations was €1,700 ($2,221) a square meter, up from €1,625 a year earlier, and rose to €1,300 a square meter from €1,200 in standard locations, according to IVD. (One square meter equals 10.8 square feet.) This compares with €2,230 a square meter for high-quality condominiums in Hamburg, and €2,890 in Munich.

That, in a nutshell, is why Berlin is probably the best city in the world right now.  The article is here.


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