Germany an 'excellent' location for property investment

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GERMANY AN 'EXCELLENT' LOCATION FOR PROPERTY INVESTMENT

Monday, 20 Aug 2007

Germany is an excellent location for those looking to make strong returns on property investment - as it is one of the few European markets not to have undergone a boom in recent times, meaning that much of its property is undervalued.

This is the opinion of Michael Gilfoyle, managing director at Frontline Berlin. He explains that it's much harder to get a mortgage in Germany than it is to get one in the UK - and that renting is much more common in the continental European country.

"The prices in Berlin are probably the cheapest, at this stage, as anywhere in Europe. It is probably one of the major cities in Europe. It represents an excellent investment because there has to be a heck of a correction of property prices here in the future," Mr Gilfoyle comments.

"Property prices actually fell, in real terms, between 1994 and 2004 in Germany. Everywhere else in Europe prices were motoring ahead, so what you have now is an under valued market," he adds.

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