Berlin IBB Wohnungsneubaufonds 2026 loans up to €5,300/m²

What the fund offers in 2026

The Investitionsbank Berlin (IBB) finances social rental housing via the IBB Wohnungsneubaufonds. In 2026 the product provides public construction loans up to €5,300 per m² of subsidised residential area, usually interest‑free for 30 years, with additional one‑off grants. The programme covers new build, purchase of to‑be‑built assets before construction start, and creating rental units by conversion, extensions and change of use in Berlin. Projects with fewer than 10 subsidised rentals are not admitted, except attic conversions with at least 4 subsidised units or specific cases tied to city contracts. Apartments must comply with the Wohnungsbauförderungsbestimmungen 2026 (WFB 2026). ([ibb.de](https://www.ibb.de/de/foerderprogramme/ibb-wohnungsneubaufonds.html))

Funding is organised in models. In outline: Model 1 targets lower rents and combines a €1,500/m² building cost grant with an interest‑free loan up to €3,800/m²; Model 2 increases the loan cap to €5,300/m² interest‑free; Model 3 allows a loan up to €5,300/m² at 0.5% p.a.; Model 4 supports upward extensions (up to €5,300/m² interest‑free) and change of use (terms set case‑by‑case). Additional fixed grants exist for lifts in attic/roof projects, wheelchair‑usable flats (DIN 18040‑2 “R”), sustainable certification, special needs, and basic barrier‑free units. ([ibb.de](https://www.ibb.de/de/foerderprogramme/ibb-wohnungsneubaufonds.html))

Maximum loan per m² depends on the site’s land value per m² of lettable floor area. The cap steps from €3,700–€5,300/m² for Models 2–4 (and €2,200–€3,800/m² for Model 1) as the land value rises; the top tier €5,300/m² applies from €2,001/m² land value. The table refers to Berlin’s official land values (BORIS) and special rules for cooperative land development and recent public disposals. ([berlin.de](https://www.berlin.de/sen/bauen/_assets/neubau/homepage-neubaufoerderung-neustrukturierung-wfb-2026_entwurf__vertiefungstabelle-darlehen-bodenwert.pdf?ts=1779978615))

The loans run 30 years. Minimum amortisation is 1.5% p.a., usually starting three months after IBB certifies average completion. An annual administration fee applies instead of a market interest rate: 0.25% p.a. (≤€12.5m) or 0.15% p.a. (>€12.5m) on the original loan amount. No commitment interest or prepayment penalty is charged. ([ibb.de](https://www.ibb.de/media/dokumente/foerderprogramme/immobilienfoerderung/ibb-wohnungsneubaufonds/wohnungsbaufoerderungsbestimmungen.pdf))'}},{

Rent caps, WBS income bands and binding period

Miet- and occupancy bindings run 30 years from IBB’s certification of average completion. Initial net cold rents are set by the funding model and the tenant’s WBS income band under §9(2) WoFG as adjusted by Berlin: €7.00/m² (Model 1, WBS 140), €9.50/m² (Model 2 and Model 4.1, WBS 180) and €11.50/m² (Model 3, WBS 220). Rents may increase every two years by fixed euro steps (€0.20/€0.25; €0.25/€0.30; €0.30/€0.35 depending on model). ([ibb.de](https://www.ibb.de/media/dokumente/foerderprogramme/immobilienfoerderung/ibb-wohnungsneubaufonds/wohnungsbaufoerderungsbestimmungen.pdf))

At projects with more than 15 subsidised dwellings, at least one quarter must be let to WBS holders with “special housing need” as defined in §27(5) WoFG. Individual condominium sales are prohibited during the binding period. A block sale of all subsidised units to a single buyer is possible, but requires IBB consent; the buyer must assume all funding obligations. ([ibb.de](https://www.ibb.de/media/dokumente/foerderprogramme/immobilienfoerderung/ibb-wohnungsneubaufonds/wohnungsbaufoerderungsbestimmungen.pdf))

If the project is leasehold land (Erbbaurecht), the minimum amortisation can be reduced by up to 0.5 percentage points per year, capped by the ground rent allocable to the subsidised part. ([ibb.de](https://www.ibb.de/media/dokumente/foerderprogramme/immobilienfoerderung/ibb-wohnungsneubaufonds/wohnungsbaufoerderungsbestimmungen.pdf))

These rules sit in the WFB 2026, which entered into force with publication in Berlin’s Official Gazette on 29 May 2026; the WFB 2023 were repealed the same day. ([ibb.de](https://www.ibb.de/media/dokumente/foerderprogramme/immobilienfoerderung/ibb-wohnungsneubaufonds/wohnungsbaufoerderungsbestimmungen.pdf))

Who can apply

The IBB states that municipal and private housing companies, cooperatives (and similar), landlords and investors can be funded if the project is in Berlin. The WFB 2026 add that the recipient must be an owner or other entitled party meeting §11 WoFG, be capable and reliable, and deliver economic project management. Single condominiums are not eligible. ([ibb.de](https://www.ibb.de/de/foerderprogramme/ibb-wohnungsneubaufonds.html))

Before applying to IBB, the project must be admitted to the city’s annual housing funding programme (“Programmaufnahme”). The application to the Programme Office at the Senate Department is informal but must describe location, number of subsidised/free‑financed units, layout mix, visuals and any urban development contract. After admission, IBB conducts due diligence and the Funding Committee decides; there is no legal entitlement to funding. Do not start works before approval under Berlin’s subsidy rules. ([ibb.de](https://www.ibb.de/media/dokumente/foerderprogramme/immobilienfoerderung/ibb-wohnungsneubaufonds/wohnungsbaufoerderungsbestimmungen.pdf))

Loan amounts, equity and profit cap

IBB expects at least 20% equity in the total project financing. Mezzanine and callable subordinated loans do not count as equity during the binding period. The public loan and grant are usually secured by a subordinated land charge. ([ibb.de](https://www.ibb.de/de/foerderprogramme/ibb-wohnungsneubaufonds.html))

Public loans are interest‑free by default; Model 3 carries 0.5% p.a. A beihilfe test caps the internal rate of return (IRR) at an “appropriate profit” of 5.0% over the 30‑year binding period. If the IRR exceeds 5.0%, IBB can either reclaim over‑compensation or levy an additional interest on the public loan to neutralise the excess. This mechanism matters for value‑add or rising‑rent scenarios. ([ibb.de](https://www.ibb.de/media/dokumente/foerderprogramme/immobilienfoerderung/ibb-wohnungsneubaufonds/wohnungsbaufoerderungsbestimmungen.pdf))

Berlin reserves a real right of first refusal if the subsidised property is sold during the binding period, earliest from the third year after average completion, with a three‑month exercise window after notification. Plan exit strategies accordingly. ([ibb.de](https://www.ibb.de/media/dokumente/foerderprogramme/immobilienfoerderung/ibb-wohnungsneubaufonds/wohnungsbaufoerderungsbestimmungen.pdf))

How private investors structure compliant deals

- SPV and mix of models. Investors typically develop through a German SPV (often a GmbH & Co. KG). On larger schemes, a mix of funding models within one project is common. If Model 3 (WBS 220) is used, at least 30% of new‑build units must be under Model 1 in the same project. ([ibb.de](https://www.ibb.de/media/dokumente/foerderprogramme/immobilienfoerderung/ibb-wohnungsneubaufonds/wohnungsbaufoerderungsbestimmungen.pdf))

- Capital stack. Plan for roughly 20% equity, senior bank debt, and the IBB public loan/grants secured subordinately. Combine with federal KfW 297/298 if you meet energy standards; IBB explicitly allows combining programmes. No commitment interest or early‑repayment fees on the IBB leg improve cashflows. ([ibb.de](https://www.ibb.de/de/foerderprogramme/ibb-wohnungsneubaufonds.html))

- Land value check. Use BORIS land values to estimate the per‑m² loan ceiling: from €3,700/m² up to €5,300/m² for Models 2–4, and €2,200–€3,800/m² for Model 1. This directly shapes the feasible rent mix and free‑financed share. ([berlin.de](https://www.berlin.de/sen/bauen/_assets/neubau/homepage-neubaufoerderung-neustrukturierung-wfb-2026_entwurf__vertiefungstabelle-darlehen-bodenwert.pdf?ts=1779978615))

- Programme admission first. File the informal “Programmaufnahme” request with the Senate Programme Office before banking on funding or starting works. Do not sign execution contracts before approval; otherwise, the grant can be lost. ([ibb.de](https://www.ibb.de/media/dokumente/foerderprogramme/immobilienfoerderung/ibb-wohnungsneubaufonds/wohnungsbaufoerderungsbestimmungen.pdf))

- Tenancy plan. Fix the apartment schedule to WBS bands and initial rents: €7.00/m² (WBS 140), €9.50/m² (WBS 180) or €11.50/m² (WBS 220), and plan for the 2‑year step increases stated in WFB 2026. For projects with >15 subsidised units, reserve at least 25% for special‑need WBS tenants. ([ibb.de](https://www.ibb.de/media/dokumente/foerderprogramme/immobilienfoerderung/ibb-wohnungsneubaufonds/wohnungsbaufoerderungsbestimmungen.pdf))

- Exit and sale. Condominium split is barred for subsidised units during binding. A block sale to one buyer is possible with IBB consent. Berlin’s pre‑emption right and the 5% IRR cap both need to be modelled. ([ibb.de](https://www.ibb.de/media/dokumente/foerderprogramme/immobilienfoerderung/ibb-wohnungsneubaufonds/wohnungsbaufoerderungsbestimmungen.pdf))

- Documents and monitoring. Expect staged payouts (up to five tranches), proof of total financing at grant, and evidence of non‑cash payments and invoices kept for audit. ([ibb.de](https://www.ibb.de/de/foerderprogramme/ibb-wohnungsneubaufonds.html))

Investors should have German counsel familiar with WoFG/WFB, a tax adviser to model the beihilfe IRR cap and depreciation, and a lender adviser who understands IBB’s subordination and consent mechanics. This article is not personalised advice.

Key dates and where to read the rules

- WFB 2026 were published in the Berlin Official Gazette on 29 May 2026 and took effect the same day; WFB 2023 were repealed. ([ibb.de](https://www.ibb.de/media/dokumente/foerderprogramme/immobilienfoerderung/ibb-wohnungsneubaufonds/wohnungsbaufoerderungsbestimmungen.pdf)) - The IBB product page consolidates the current loan/grant amounts, rent bands and application links, including downloads for WFB 2026, FAQs and the 2023–2026 comparison. ([ibb.de](https://www.ibb.de/de/foerderprogramme/ibb-wohnungsneubaufonds.html)) - The land‑value‑based loan cap table for WFB 2026 is published by the Senate Department. ([berlin.de](https://www.berlin.de/sen/bauen/_assets/neubau/homepage-neubaufoerderung-neustrukturierung-wfb-2026_entwurf__vertiefungstabelle-darlehen-bodenwert.pdf?ts=1779978615))