Berlin property rentals stand at '85%'

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BERLIN PROPERTY RENTALS STAND AT '85%'

Friday, 10 Aug 2007

In some parts of Germany, particularly Berlin, the rate of property rental stands at around 85 per cent, it has been claimed.

Paul Collins, property editor for Buy Association, says that such a proportion makes investing in Germany a very attractive option - as the chance of being able to rent out your property "are particularly good".

"In Germany, particularly in some parts of Berlin, the rate of people renting property is about 80-85 per cent. So if you were to buy a property in Germany then the chances of being able to let it out are particularly good," Mr Collins commented.

"There just isn't the same property culture so if you buy a property somewhere like Germany, there's not so much of a market to sell it on again afterwards."

A recent report revealed that around 70 per cent of properties in the UK are owned with 30 per cent rented out. This proportion stands at 42 per cent owned and 59 per cent rented in Germany, in comparison.

"It's quite like the UK in the fact that the law is very much weighted in favour of the tenant. So again that's something to consider if you're thinking about buying a property abroad to then let out," Mr Collins added.

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