german property 8th on top 10 on changing attitudes of overseas buyers
News Posted On: 09 October 2009
Germany is currently the 8th most popular country with those searching for overseas property on Property Abroad.com.
This shows the changing attitudes of overseas property investors according to the portal, director Les Calvert said:
"Germany has never been known for its massive price growth, slow and steady wins the race when it comes to German property. However, almost 50% of the German population lives in rented accommodation, and while yields aren't spectacular rental income is reliable. The fact that German property is now more popular with overseas buyers confirms that today's investor is buying for rental cash-flow not capital growth potential -- a bird in the hand is worth two in the bush."
Brits have been investing in German property for as long as they have been investing anywhere, it was one of the first destinations that attracted buy to let investors with its strong renter's culture.
The popularity of investing in Germany grew as the economy grew during the last few years, as German export growth saw it become Europe's biggest economy. This is because the high proportion of renters means the government must regulate the rental market; landlords can only raise rents when and by as much as the government allows.
Its popularity had begun to fall away in recent years, when the capital growth forecasts that people had been making for years continually failed to materialise, and then when the economy started to contract. Now that the economy is out of recession and people are buying to let rather than to wait on capital growth, German property is once again growing in popularity.
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