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Residential complex Kiez: new development in central Berlin

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Kiez
Mock façade of the residential complex. Source: Volsung

General information

The residential complex Kiez is a contemporary building in Berlin’s geographical and political centre, Mitte. Kiez has 76 comfortable studios, as well as one- and two-bedroom apartments. The benefits the residential complex offers are good value for money in this location, proximity to the S-Bahn rail service, main sights and infrastructure of the city, and the overall price growth potential of the city real estate.  The price per square metre here varies from €7,300 to €8,500, whereas the average price in the new developments in the Mitte district is €9,810 per square metre. The building is to be commissioned in Q3 2022.

The address: 13353, Luxemburgerstrasse, 29

Apartments, layouts and prices

The ground floor of the residential complex will accommodate retail, and the residential floors will have 13 apartments each, but for the sixth floor where there will be 11 apartments. The complex will comprise 76 units ranging from studios to two-bedroom apartments with living rooms and a total floor area from 25.45 to 73.81 sq.m. 60 apartments will be completed first to be followed by 16 apartments at the second stage.

Kiez
Sample layout of floor four. Source: volsung

The apartments will have a light interior design in soothing shades with white wallpapered walls and oak laminated and tiled flooring. The layout of each unit is well-designed and resident-friendly to ensure comfortable life even in a small studio.

All the apartments are equipped with video intercoms, modern kitchens with home appliances (cooking tops, ovens, backshelf exhaust hoods, refrigerators with freezers, dishwashers), quality sanitaryware by famous manufacturers, including heated towel rails and washing machines.

Kiez
Sample interior design of an apartment in the residential complex Kiez. Source: Volsung

The prices of the microapartments in the residential complex range from €207,000 to €567,000. The residential complex Kiez is an excellent investment opportunity underpinned by the location in central Berlin, special mortgage terms, and free assistance from Berlin Finance. The prices in Berlin’s centre grew by 6.5% in 2019 and continue the upward trend now driven by the population growth and cheap mortgage loans. 

The apartment owners may make a management agreement with the management company and lease their units without any broker’s fees for the mid term (7-12 months) and long term. The rental yield is projected at 3.5–4.5%.

Location and transportation

Kiez

The residential complex is located in Sprengelkiez, a residential neighbourhood in Mitte (which means “middle” in German). Mitte is the focal point for Berlin’s sights, such as Postdamer Platz, Reichstag Building, and Berlin’s Hauptbahnhof (Central Station) that connects the city with the most distant parts of the country. The closest S-Bahn station is within a two-minute walk from the residential complex. Berlin’s new Brandenburg Airport opened in 2020 within a forty-minute ride from the residential complex Kiez, opening up new opportunities for development and even more investments into the German capital.

Surrounding infrastructure

Sprengelkiez is a unique district providing all the benefits of life in the city centre and affordable housing prices. There are diverse entertainment opportunities here: the lake Ploetzensee, the park Volkspark Rehberge, and the popular bar street Sprengelstrasse. The residential complex Kiez would be an ideal place to live for the associates of the companies based in the nearby business districts, such as Europacity with over 10,000 workstations and Friedrichstrasse that accommodates head offices of such large companies as EY, Facebook, Google, and the university hospital Charité.

Construction site and surroundings in May 2021. Source: Tranio

Architecture

The six-storeyed building will have a contemporary and size-conscious design within a rectangular footprint area. The off-white façade of the building with balconies and terraces will blend coherently into the overall exterior style of the district. The ground floor will accommodate retail spaces. Each apartment will get natural light through windows with low sills.

Kiez
Construction site in February 2021. Source: Tranio

Private amenities

Landscaping will be done in the open area of the residential complex , and there will be constructed a small children’s playground with an enclosed slide and swing sets. The apartments in the residential complex Kiez will be a good choice for families with small children and senior people.

Kiez
Sample interior design of an apartment in the residential complex Kiez. Source: Volsung

About the developer

Residential complex Kiez is created by the developer Ten Brinke Group and listed through Volsung. Ten Brinke Group was founded over 115 years ago and has over a century’s worth of building expertise. Today it ranks as the largest real estate developer in Germany in terms of revenue with annual turnover for 2018 reaching upwards of 950 million Euro. Ongoing developments continue to be well-diversified in these regions with projects spanning the Residential, Office, Retail, Hotel, Healthcare and Logistics sectors.

Volsung works in partnership with the Ten Brinke Group, guiding clients through the acquisition process, ensuring straightforward access to financing, successful handover and tenancy of the final asset. Together with private wealth, financial advisory and family offices, the company supplies competitive, investment-grade real estate products in top-performing markets to international clients.

Key takeaways

Given the benefits of the residential complex Kiez, mature surrounding infrastructure, the proximity of business districts, and the central location in one of the best boroughs of Berlin, purchase of an apartment in the residential complex Kiez will be a good choice for the purposes of residence or investments.

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