german property market hardly affected in economic downturn
News Posted On: 17 February 2009
Overseas property investors looking for a stable investment opportunity might wish to acquire a home in Germany, it has been claimed.
According to Nick Barnes, partner at international residential research firm Knight Frank, the market has barely been affected by the economic decline across the world.
He said that tourism has always been strong and Britons who opt to purchase homes in the European country usually do so for investment purposes.
"[Germany's] property market has not been affected as much as it has here. Compared to the house prices that most of western Europe has had, prices in Germany have been pretty flat for much of the last decade," Mr Barnes said.
The expert noted that prospective buyers should watch out for currency fluctuations and be aware of their tax situation when considering a purchase in the country.
This comes after Write About Property said that people often invest in Germany because there is a secure low yield in the residential rental market.
Written by Les Calvert
Property Abroad - for your overseas mortgages, buyers guides and the latest news on buying property in Germany
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