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Cost of living in Berlin is rising

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Cost of living in Berlin is rising

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Tens of thousands of new residents move to Berlin each year, and the property investors are following.

The city famously dubbed 'poor but sexy' by a former mayor is becoming a lot more expensive to live in

This mum-to-be lives in the Kreuzberg district of Berlin.

The pharmacist grew up here and has seen living costs rise in recent years.

Weeks away from the birth of her first child, she is worried for the future.

Berit Schlumbohm says, "I’ve moved five times in the last few years, about five, and we’ve been looking for flats to rent. Every week you can see how much the rent is going up."

Scarred by reunification and with little industry, Berlin was a cheap place to live after the fall of the wall.

The growing economy has seen the population increase rapidly over the past decade.

The housing market is under pressure, the average rent has increased by 71% since 2010.

This expert believes it's just catching up to other cities.

Jan Hebecker, Head of Analysis and Data at IMMOBILIENSCOUT24.com:

"There are many investors, especially foreign investors who recognize, as far back as 2010, that Berlin had a very low rent and cheap property. And so they entered the market back then and continue to now because the prices here are still much lower than in Paris or London, or even compared to other German cities like Munich or Hamburg."

Construction sites can be seen across the city.

But local residents are often priced out and are demanding change

Berlin is still a magnet for young people and artists from around the world looking for an affordable and often alternative lifestyle. But the rising living costs could change this.

Euronews reporter, Jessica Saltz: "Tens of thousands of new residents move to Berlin each year, and the property investors are following. The city famously dubbed 'poor but sexy' by a former mayor is becoming a lot more expensive to live in. Jessica Saltz, for euronews, in Berlin"