Resicom – Holiday Investment – 04-21 – LB

Strike Property Investment Gold in Spandau

The Berlin district of Spandau is probably most famous for the prison that housed Nazi war criminals after the second world war, and the term Spandau Ballet that described the appearance of those same criminals hanging at the prison before being adopted by the pop band synonymous with their number one single ‘Gold’.

However, the prison is now long demolished, replaced by a shopping mall, and Spandau is fast becoming an investment property hotspot where overseas property investors can strike gold.

One of the twelve Berlin districts, Spandau retains its medieval charm with beautiful historic buildings and cobbled streets in the centre, as well as the castle which remains the main tourist attraction.

The district is also traversed by the Havel River, offering boating and riverbank walks in the area known as Klein Venedig (Little Venice).

Another area of note is Gutspark Gross Glienicke, the ancestral estate of medieval knights, which is now a large park containing Gross Glienicke Lake. The Berlin wall ran directly through the centre of the lake before the reunification of Germany, and a section of the Berlin Wall can still be seen on the estate.

Despite the charm and medieval heritage of Spandau, modern infrastructure and transport links are also excellent. The district has very good public transport links to the centre of Berlin, and ICE fast trains from Berlin-Spandau railway station link it to other major German cities.

Spandau has benefitted greatly from the property boom seen in Berlin over recent years, as it is seen as one of the nicest Berlin districts to live in. However, bargains can still be found for overseas property investors.

Apartments with one or two bedrooms are still available for less than 100,000 euros if you search carefully, albeit often with some minimal renovation or updating required.

The most sought-after residential areas are in the centre of the district, with Kolkviertel representing the heart of Spandau, with its historic buildings and cobbled streets. Though expect prices to be higher in the central parts to reflect their popularity.

More modern parts of Spandau were developed in the 50s and 60s after the war with apartment blocks situated on attractive leafy streets. These are now being renovated into more modern residential and commercial buildings where you can then expect to pay around 105-130,000 euros for a newly renovated one-bedroom apartment.

For charm and historical beauty this district of Berlin is hard to beat. Overseas property investors may be keen to buy into a part of history.

You may strike property investment gold in Spandau, and you can always believe in its soul.

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