High-end homeowners hunting for an exclusive retreat in Berlin

High-end homeowners hunting for an exclusive retreat in Berlin

Numerous luxury villas are being restored with up-to-date amenities

 

High-end homeowners are showing a renewed interest towards the villas of southwest Berlin – which were an emblem of luxury until World War II – and are trying to buy up idyllic pre-war retreats in lakeside settings to convert them into beautifully-restored mansions or to tear them down in order to build a new exclusive one.

Where are the most expensive villas located? The most dramatic rise in prices has been reported in Potsdam, a city situated on the river Havel, 24 km southwest of Berlin’s city centre. The city is known as “the German Versailles” and attracted bankers and movie stars in the 1910s and 1920s who wanted to buy their prestigious private home in the area. Griebnitzsee and the Berliner Vorstadt neighbourhood were prime investment areas in the first decades of the 20th century.

The prices of villas have doubled over the past decade. They start from € 1.5 million, but there are lakeside villas in Berliner Vorstadt listed for more than € 3 million, even if they need to be finished.

Numerous villas built in the 1920s by rich industrial tycoons are being restored in the east, too. Among the most exclusive areas, it is worth mentioning Dahlem and Grunewald, where prime waterfront homes are listed for € 10 million.

Here, many villas that were converted into multifamily homes, apartment blocks and offices during WWII are being turned into luxury single-family residences again. The areas are calling the attention of foreign buyers, particularly Russians, who very often prefer to tear down typical West Berlin villas to build new mansions with up-to-date amenities including large spas, eat-in kitchens and bigger gardens.

Main Source:

NY Times

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