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Berlin hits the big time
Berlin is one of the best investment destinations in the world, claims one company...
As a result of Germany's privatised industries selling off their property stocks to reduce costs, big financial institutions like Merrill Lynch have been buying German apartments in bulk – sometimes tens of thousands at a time. The opportunity for bulk buying has arisen as a result of Germany having the most depressed property market of all industrialised, "western" countries.
Liam Bailey, Head of International Research for David Stanley Redfern Ltd, gave his thoughts on what this means for the German property market: "These major players buying thousands of apartments throughout Berlin and Germany are likely to use their considerable financial clout to create somewhat of a seller's market, and/or to increase incentives for people to buy. Most notably raising rents, and increasing the availability of finance packages, as well as the percentage thereof."
Janet Gieram, a Berliner and head of DSR's new Western European Division, said: “Plans are already beginning to take effect, with prices and rental rates finally seeing some real growth, the latter triggering an upsurge in people willing to buy their property as oppose to just renting."
”Berlin currently presents one of the best investment opportunities on the global market because property there is more affordable than any other established market. Put simply, you can buy into the safety of an established market, with the price and potential of an emerging market property.
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