Price-to-rent multiple by Berlin district, October 2026

Price-to-rent multiplier by district

Series A counts notarised sales of apartment buildings, series B asking prices for freehold flats and asking rents. The two series are not offset against each other. The gap between them is not a negotiation discount, because property type, data basis and period differ.

A: Guthmann Estate, map dataset "apartment buildings" based on transaction data of the Berlin Committee of Valuation Experts, as of 19/08/2026, unchanged on 02/10/2026. Not official. "No value in the source" means the source shows no value for this district. The notarised purchase price per m² is only available for Berlin as a whole. Marzahn-Hellersdorf is based on 8 transactions and is correspondingly uncertain.
B: Investitionsbank Berlin, IBB housing market report 2025, table volume table 25 (asking rents, median) and table 27 (asking prices for freehold flats by price band); the purchase price is a median linearly interpolated from the price bands, own calculation by BBI, not an IBB value. * Spandau: the median lies in a price band open at the bottom and is less certain.
Official: the Committee of Valuation Experts publishes multiples for rental buildings only for Berlin as a whole or by area groups, not by district; hence "no official value".

Official comparison value

In its capitalisation rates 2025 (reference date 31/12/2024, Official Gazette for Berlin no. 39 of 19/09/2025), the Berlin Committee of Valuation Experts shows for rental and mixed-use rental buildings a ratio of purchase price to annual net gross income of 26.6 on average. This is based on 651 transactions from the years 2022 to 2024. 90 per cent of cases lie between 18.0 and 39.3. The average purchase price is 2,644 euros per m² of living and usable space, the average property rent 8.42 euros per m² per month (table 12).

Recalculated: 2,644 ÷ (8.42 × 12) = 2,644 ÷ 101.04 = 26.2. The official value of 26.6 is the mean of the individual multiples, not the quotient of the means; this is why the two differ slightly. The official value is a three-year mean, the value 21.1 from series A a median for 2026. The two are not directly comparable.

Method and formula

Formula: price-to-rent multiple = purchase price ÷ annual net cold rent. The annual net cold rent is the monthly rent excluding service charges times twelve. Per m²: multiple = purchase price per m² ÷ (rent per m² per month × 12).

• Series A (notarised): median of the multiples from purchase contracts for apartment buildings, evaluated by Guthmann Estate based on transaction data of the Committee of Valuation Experts. BBI adopts the values unchanged and adds no calculation.
• Series B (asking): median of the asking prices for freehold flats (linearly interpolated from the price bands of IBB table 27) divided by the median asking monthly rent (IBB table 25) times twelve. The IBB itself does not publish a multiple.
• Worked example Berlin: 5,789 ÷ (15.78 × 12) = 5,789 ÷ 189.36 = 30.6.
• Worked example Lichtenberg: 5,550 ÷ (13.33 × 12) = 5,550 ÷ 159.96 = 34.7.
• Yield: 100 ÷ multiple gives the gross initial yield before all costs. At 21.1 this is 100 ÷ 21.1 = 4.7 per cent.

All series B multiples have been recalculated by script from purchase price and rent and match the table to one decimal place. The report contains no forecast and does not replace an individual valuation.

Change on the previous month

First edition. No previous-month value of this report exists yet; the change on the previous month will be shown from the November 2026 edition. Compared with the previous year, the source for series A gives: Charlottenburg-Wilmersdorf plus 0.5, Lichtenberg minus 4.9, Reinickendorf minus 4.1; Berlin as a whole from 22.4 (2025) to 21.1 (Guthmann Estate, as of 19/08/2026).

How to cite and data

For individual values, please also cite the primary source of the respective series (Guthmann Estate based on data of the Committee of Valuation Experts, IBB housing market report 2025 or Berlin Committee of Valuation Experts). The asking-price values (series B) and the official comparison value are available as a CSV file (semicolon, decimal comma, UTF-8). The series A values are only in the table above; their reuse is subject to the terms of Guthmann Estate. BBI Immobilien's own compilation and calculation is licensed under Creative Commons Attribution 4.0 (CC BY 4.0); the rights of the primary sources remain unaffected.

Sources

• Guthmann Estate, Market Intelligence Berlin, Apartment Buildings: median multiple and transactions by district, transaction price 2,390 euros per m², as of 19/08/2026, data basis Berlin Committee of Valuation Experts, accessed on 02/10/2026: guthmann.estate
• Investitionsbank Berlin, IBB housing market report 2025: report page and table volume (PDF), table 25 (asking rents by district) and table 27 (asking prices for freehold flats by price band); multiples own calculation
• Berlin Committee of Valuation Experts, capitalisation rates 2025 (PDF), reference date 31/12/2024, table 12, Official Gazette for Berlin no. 39 of 19/09/2025
• Berlin Committee of Valuation Experts, market information and property market report on berlin.de

More figures: price-to-rent multiple Berlin 2026, Berlin housing market report, market data at a glance.