Buying agency, German Property Finder, considers housing stock in Europe's biggest economy “a secure long term investment”. Prices for brand new homes rose 4 per cent over the past year and are projected to go higher in the next twelve months by financial services group, Hypoport, which monitors the housing market.
Prices for second-hand homes fell 5 per cent over the past twelve months Hypoport says. But they will start rise in the "medium term" as the growing proportion of older, wealthier Germans look for somewhere to settle down in their later years, it forecasts.
Nationally, the population is declining by 50,000 a year, but Deutsche Bank says the number of people living in south west Germany and Berlin will keep growing over the next decade. Investors ought to buy the most desirable properties in these locations German Property Finder recommends.
German property is relatively inexpensive. A refurbished, two bedroom apartment in a salubrious part of central Berlin is on offer for GBP187,000 through property-abroad.com. There are no restrictions on overseas investment in German property.
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