Friedrichshain’s accommodation is analogous to that of Prenzlauer Berg’s five to 10 years ago. For now, rents are low, students dominate the rental market, and few flats (around 6%) are owner-occupied. All of that may well change, however, when the building renovations currently underway throughout the district reach completion. Though Berliners usually prefer their apartments Altbau, the Stalinbauten on Karl-Marx-Allee form a curious exception. Once showcase dwellings of the GDR elite, these easter-than-east apartment towers have cache in the new Berlin. Friedrichshain’s other area for prestige housing is the Stralau peninsula, where newly built townhouses overlook the river. An unusually high percentage of the flats being offered for rent in Friedrichshain are designated ‘WBS’ – meaning that to rent them, one must show proof of a low enough income. The average rent in Friedrichshain is €6.18 per square metre, the average apartment purchase price €1,800 per square metre.