Who would have thought it?! Germany's residential sales market spent the past decade floundering at or near the bottom of most league tables for price growth. Property prices fell in Europe's economic powerhouse for most of the ten years leading up to 2007, even though they rose just about everywhere else.
Now, the league tables are turned upside down. Just when the rest of the world is caught in the global property slump, so the value of German apartments are rising, up 1.2 per cent last year according to property research company Bulwiein Gesa AG.
Why is Germany's property market surviving better than others? Investors consider Germany a safe haven in these troubled times, and its property market, unlike so many others, is not weighed down with millions of euros of mortgage debt. There's also a solid rental market to tap into - most Germans rent.
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