More investors snap up homes in Berlin

Wednesday, July 27, 2011

More investors snap up homes in Berlin

A growing number of international property investors, including more Brits, have identified the Berlin property market in Germany as a good place to invest their money, according to a new Savills report.

Anyone buying an investment property in Berlin, with a view to letting it out, can expect to receive a rather high rental return, with yields of eight per cent and over not uncommon, partly because many locals prefer to rent rather than buy property.

The Germany property market is performing rather well at the moment, on the back of a rather strong domestic economy, which is outperforming most other countries in Europe.

Savills report that close to 10,00 homes in Berlin were sold during the second quarter of 2011, mainly due to a rise in large property transactions.

Karsten Nemecek, Managing Director of Corporate Finance and Valuation at Savills Germany, said: “The figures reflect the growing interest of both national and international investors in residential property in Germany. This is why we also expect to see further large-scale transactions in the second half of the year.”

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