First time home buyer news: Germany attracts overseas property investors

12-Jun-2006

Overseas property investors are snapping up good deals in Germany in anticipation of a boom in the property market, German Property Investors states.

The European Housing Review for 2006 revealed a drop in house prices in Germany, however with the economy showing signs of recovery, the real estate company states the country's property market represents a good investment.

Many overseas property investors are taking advantage of Germany's low property prices as compared to its neighbouring countries, according to the Observer.

Ilya Spitalnik of German property Investors, told the Observer: "About two-and-a-half years ago really clever people started to buy.

"I call this the pre-stage, where foreign investors from the UK, Holland and the US sent runners into the German market."

Mr Spitalnik drew comparisons between the German housing market and the British housing market 15 years ago, when private investors began to buy properties to renovate and sell on.

Although house price inflation is not expected to increase in the near future, investors in Germany are able to rent out apartments to earn income until prices increase, Mr Spitalnik added.

2008: May | Apr | Mar | Feb | Jan

2007: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2006: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2005: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar