Real Estate – Germany still attractive for foreign investors
Although real estate prices in Germany are raising and demand is increasing there are still attractive opportunities for foreign investors.
Berlin, Germany, November 8th 2011
As to real estate, Germany is still an interesting option for investors. In its issue 44/11 the German news magazine FOCUS published a study about the current real estate prices in most German cities.
According to FOCUS, the average real estate price in Germany ranges from 953 € to 2620 € for properties built earlier than 2007, while the price for new buildings ranges from 1718 € to 4342 €.
The overall trend in Germany is an increase in prices; in particular as to high quality properties in attractive locations the prices are still going up.
FOCUS claims that in the most popular cities for every property that is being offered on the market there are on average 10 prospects interested in buying.
Furthermore, FOCUS presented the German cities with the most potential in terms of future demand for property and price increase. While finding some of the cities in this list, such as Munich and Hamburg was not surprise, there were also other cities that even experts didn´t expect to get mentioned in the study.
As to the potential of the cities, FOCUS based his estimation on research conducted by “PROGNOS” – a famous and reputable research institution in Germany.
Mr. Kiril Stawrew, attorney at law in Berlin, Germany, specialized in real estate transactions, says: “Although prices are rising – and this is a tendency that I am observing in Berlin over the last several months – there are still good investment opportunities. Even in the most expensive cities, such as Munich, Frankfurt /Main and Hamburg, there are motivated sellers that have to sell fast and are willing to trade quick cash for a lower price.”
“Moreover”, Mr. Stawrew explains, “the asking price you´ll find in real estate directories isn´t the lowest price that the seller would be willing to accept. From our experience we know that sometimes it is possible to negotiate significant discounts. Therefore, being well prepared for the negotiation and offering a lower price at the beginning usually pays off for someone looking to buy real estate in Germany.”
- Contact Information
- Kiril Stawrew
- attorney at law, managing partner at Polikar & Partner
- Polikar & Partner
- Contact via E-mail
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