How are the real estate prices currently developing in the Oder-Spree district?
Sascha Schenk: During the past year, we have brokered a wide variety of properties for our clients: land properties, single-family houses, multiple-family houses and commercial properties. On the average, we have sold single-family homes in Beeskow for 209,000 € and in Fürstenwalde for 385,000 €. In general, prices have risen by 15%.
Does this apply to all types of property?
Sascha Schenk: Of course, this depends upon the property on offer. In prime locations of Bad Saarow, Grünheide and Wendisch Rietz, we have been observing a rise of up to 35%. Enthusiasts for certain properties are willing to pay well above the market value. Whoever has an attractive property can quickly become a millionaire.
This is advantageous for those who wish to sell now. How can you explain this price increase?
Sascha Schenk: First of all, the demand is increasing exponentially. This is probably due to the Corona crisis and people now setting other priorities and would like to move to greener areas. Secondly, attractive interest rates for mortgages make it possible for a broader range of people to be able to buy their own home. Previously it would take us on average six months to sell a property – currently it is only four weeks.
How does this affect the property prices?
Sascha Schenk: Properties for construction are enjoying increasing popularity. A year and a half ago, properties with existing buildings were in higher demand, now vacant lots, that existed for years are quickly disappearing. Properties for construction in Beeskow are reaching the price of 90 € per sq. m., in Wendisch Rietz up to145 € and in Fürstenwalde up to 200 €. In the top areas of Bad Saarow, 700 € is possible.
Are rentals also currently rising?
Sascha Schenk: Rental prices vary according to location and age of the building. In Beeskow, for older buildings, the average rent per month is 6 to 8 € per sq. m., in newer buildings, 12 und 14 €. In Fürstenwalde, tenants pay for existing rental properties 7 to 10 €. In Bad Saarow, rental prices are sometimes significantly higher, especially in prime locations near the water.