Sell a multi-family building in Berlin, calculated from the rent roll.

The guide figure is annual rent times the price-to-rent multiplier, not the living space. Anyone buying a multi-family building is buying rental income. Investors therefore calculate with the price-to-rent multiplier: purchase price divided by annual rent excluding service charges. In Berlin in 2026 it averaged 20.9, measured across 490 notarised purchase contracts. By district, the published values range from 15.9 in Marzahn-Hellersdorf to 24.6 in Charlottenburg-Wilmersdorf (Guthmann Estate, based on the transaction data of the Gutachterausschuss, the Berlin valuation committee, as of 13 October 2026, district values retrieved on 3 November 2026). Only the figures from the Gutachterausschuss are official.

A calculation with an assumed rent. If a building brings in €150,000 annual rent excluding service charges, the Berlin average gives €150,000 x 20.9 = €3,135,000. Each point on the multiplier is worth €150,000 at this rent. Whether your building lies above or below the average depends on four things.

• The rent roll. It is the first sheet a buyer reads. If it differs from the contracts, they renegotiate the price.
• The level of the rents. If they are well below the rent index (Mietspiegel), the buyer sees room to raise them. They will not pay the full market value for that, because increases within an existing tenancy are tied to deadlines and caps, and the rent cap (Mietpreisbremse) applies to new lettings.
• The condition. Whatever has been left undone on the roof, facade, pipework, heating and windows, the buyer takes it off the price, and rarely cuts it fine. Invoices for completed work help in the other direction.
• The location. In Reinickendorf the multiplier was 16.2, in Charlottenburg-Wilmersdorf 24.6. If the building is in a preservation area (Erhaltungsgebiet), the pool of buyers gets smaller: structural changes and division into owner-occupied flats need approval there.

How valuers calculate an income value (Ertragswert) from rent, capitalisation rate and remaining useful life is explained in the guide Valuing a multi-family building in Berlin. The district multipliers are on the page Price-to-rent multiplier Berlin, the monthly edition in the Price-to-rent multiplier market report, November 2026.

As of 14 November 2026. Data cut-off for the figures: 13 October 2026 (Guthmann Estate, based on the transaction data of the Gutachterausschuss).

In four steps: have the rent roll calculated, fix the route and commission, approach suitable investors, review and notary appointment.

How we sell flats and detached houses is covered on the page Sell a property in Berlin.

If the building is in a preservation area (Milieuschutz), the municipality has a right of first refusal and three months to exercise it (§ 24 para. 1 no. 4, § 28 para. 2 BauGB, German Building Code). Allow for this waiting period after the notary appointment. The details are in the guide Selling an apartment building (Zinshaus) and multi-family building in Berlin.

The tenancy agreements continue. With ownership, the tenancy passes to the buyer, who steps into the tenancy agreements as landlord (§ 566 BGB, German Civil Code). The sale alone changes nothing in the contracts.

When an undivided building is sold, the tenants have no right of first refusal. It applies when let flats have been or are to be divided into owner-occupied flats and are then sold (§ 577 BGB, German Civil Code; more in the guide Right of first refusal for tenants). If your building has already been divided, we clarify this before the sale. The municipality is different: in a preservation area it has a right of first refusal, and the deadline is given above in the process.

As a private individual, usually not if more than ten years lie between purchase and sale (§ 23 EStG, German Income Tax Act; details in the guide The ten-year holding period (Spekulationsfrist) for property). If you sell earlier, the gain counts as part of your income. Different rules apply to companies, and anyone who sells several properties in a short time may be treated as a commercial dealer. Work this through with your tax adviser before you sign the purchase contract.

BBI has been a brand on the Berlin market since 1995. The agency is based at Kurfürstendamm 178-179 in 10707 Berlin and operates with a permit under § 34c GewO (German Trade Regulation Act). BBI is part of NAI apollo.

For owners of a multi-family building, that means in everyday terms:

• We calculate the first assessment from your rent roll, as a range and with the working shown. It is free of charge and not a formal valuation report (Verkehrswertgutachten).
• We ask investors first who have told us in advance what they are looking for.
• How high the commission is and who pays it is set out in the agency agreement before marketing begins.

Some owners search for a Zinshaus agent in Berlin and mean the same work (a Zinshaus is a let multi-family building, named only for its income). Our offer under that name is on the page Sell a Zinshaus. If shops, practices or offices belong to the building, read Sell a residential and commercial building in Berlin. If your building is in the surrounding area, different key figures apply: Multi-family building in Brandenburg.