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German property investment market looks perky

15th January 2007 | back to article listings BACK    print this article PRINT

Investors looking for long-term property gains abroad may wish to consider Germany as a possible location for their money.

Last year's World Cup saw a huge influx of visitors to the country and many, particularly the Brits, went home determined to return on holidays in future years.

The event is widely thought to have opened many people's eyes to the unique beauty of Germany's towns and countryside and is expected to entice both property investors and those looking for a place to rent for a week back to the country over the coming years.

Indeed, tourism figures in the months following the World Cup bode extremely well for Germany's future as a major holiday destination.

Fraport, the owner of Frankfurt Airport, the country's busiest airport, announced that passenger numbers were up by 4.2 per cent last month on the same period in 2005.

Furthermore, the number of passengers who came through the airport's sliding doors rose by 1.1 per cent last year.

The smaller Frankfurt-Hahn Airport, which welcomes a number of low-cost carriers, including many from Britain, saw a 26 per cent increase in passenger numbers in 2006, far too big a number to be put down to four weeks during June and July alone.

British investors will be pleasantly surprised at the cost of property in the country, even in major cities.

For example, prices in Berlin commonly range from between €1,000 to €3,000 a square metre, which is in stark contrast to London, where €10,000 per square metre would be considered reasonable.

However, while just 40 per cent of Germans own their own home, compared to around 80 per cent in Britain, increasing numbers of locals are finding themselves able to purchase their own place, meaning prices will not remain low for long, meaning property investors looking for a bargain need to act quickly.

Commercial property prices are also said to be favourable in the country at the moment, especially when compared with opportunities in the UK.

A recent report by Killik claims that British commercial property returns are paltry in comparison to possible gains in Germany, where yields are much higher, according to citywire.

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