The article analyses emergence of a new build luxury housing segment in Berlin’s inner-city neighbourhoods. Its highlights the international discussion on new forms of gentrification like ‘super-gentrification’ and ‘new build gentrification’. The process of gentrification has mutated over times in both, spatial aspects and characteristic progress. The article argues that new build luxury housing projects should be integrated into a gentrification analysis and interprets the new build projects in Berlin as a third wave of gentrification in still gentrified neighbourhoods.