German property market 'great for investors'

Investors may want to make international money transfers to Germany after hearing how the country's property market is favourable.

James Kirkman, property consultant at ProVenture Property, explained how purchase prices are "very low" compared with other nations in Europe.

He claimed that the reason for this is the "low owner-occupied rate" that can be found in Germany.

For example, it was noted that cities such as Berlin tend to be made up of between 85 and 90 per cent renters and the remaining homes are lived in by the buyer.

Talking about the recent surge in price growth among the German market, as recorded in the Knight Frank house price survey, Mr Kirkman explained that the nation has "never really experienced a property bubble".

Therefore, the need to encourage people to join the housing ladder failed to occur as those with capital were aware of the gains to be made.

"German economy is stronger than ever, its GDP is higher than it's ever been since reunification, therefore [it has been] seen as a really good place for investors to look at," Mr Kirkman stated.

He added that after the global financial crisis, a considerable number of individuals with substantial funds recognised that investing in the country's housing market would be profitable.

His comments follow those recently made by director and founder of Rouge Property David Freeman.

It was suggested by the expert that an alternative area where making a money exchange and purchasing property overseas could be beneficial is in Egypt.

Mr Freeman described how developments in Sharm el Sheikh are worth considering for those interested in expanding their property portfolios.

Meanwhile, the US was also noted as being "great" for investors at the current time thanks to many homes selling at "very, very cheap" prices.

Source: HiFX

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