The population of Berlin is growing by 30,000 to 40,000 people every year. Housing is in demand, but also very limited. As the housing demand in Berlin has exceeded supply for years, building plots are correspondingly expensive. Construction projects with a balanced cost-benefit balance have become a rarity in Berlin.
"The real estate market in Berlin is overheating," explains Charles Smethurst, founder of German Property Group GmbH (GPG). The real estate company from Langenhagen near Hanover specialises in the redevelopment and conversion of listed properties. At selected locations, these are supplemented with new buildings to create additional living space. Especially for Berlin, such concepts offer immense opportunities in the construction sector. "GPG clearly benefits from its years of experience in the construction industry. Without well-established networks, it is difficult to generate projects that are of interest to both, investors and the people who end up looking for a home in Berlin."
GPG realised 139 apartments in Dottistraße, near the S-Bahn station Frankfurter Allee. With renowned architects and the local monument protection, the Old Post Office Lichtenberg was developed for residential purposes. For refurbishment and revitalisation GPG, until recently known as Dolphin Trust, was even nominated by the district of Lichtenberg for the Builder Award 2019. 48 modern apartments were built in the heritage building of 1925. Another 91 apartments are offered by the adjacent new buildings, which have been adapted to the Old Post Office architecturally. "At the same time, GPG is opening up new markets north and south of Berlin as well as around Potsdam. In these areas, we see a tremendous growth potential," says Smethurst, "there, apartment buyers and tenants benefit from convenient connections to the capital at much lower real estate prices."
German Property Group GmbH
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