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House Prices In Germany


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#1 vlp

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Posted 16 December 2011 - 07:47 AM

While property prices drop around Europe there have been controversial reports for cities like Hamburg, Munich, Berlin, Frankfurt and others on 30% rise in 2011. On the other hand the official news papers in Germany report on average 5% rise. We visited few properties in Wiesbaden yesterday just to see that 80% of them were sold in just 2-3 weeks. We also saw some other interesting things. For example, if the agency advertises the apartment lets say for 120sqm, in reality there are only around 95-100 sqm. Even though having this in mind, they were all either under offer or reserved. What left on the property were totally unacceptable properties that none would even consider renovating?
We are puzzled on 2 things:
1) Why there are no official reports on this (my extensive search on Google did not return anything official) and
2) Is this a sign that Euro is going to collapse in a month or two.
P.S. We were told that December is the highest activity in real estate market here but seeing a queue of 20 buyers in the flat was an astonishing thing in a overall European depressed situation.

#2 whitemice

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Posted 16 December 2011 - 03:45 PM

We also saw some other interesting things. For example, if the agency advertises the apartment lets say for 120sqm, in reality there are only around 95-100 sqm.

Reporting requirements are very tightly regulated in Germany, report this kind of thing immediately.

#3 Moneyalchemist

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Posted 09 April 2012 - 06:33 PM

I can anecdotally confirm the price rises in Germany.

I bought a flat in SW of the country in 2006 and sold it in October 2011 for 43% more in Euros, 100% more if you calculate in Sterling.

#4 Son of Taeper

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Posted 12 April 2012 - 01:08 PM

Is the culture in Germany to rent rather than own?

It used to be but maybe changed a bit over the years.
I haven't been out there for about 10 years now but most of the German side of my family were owner occupiers even back in the 80's.
The views expressed in my posts are my own based upon what I read on other information supplied by other HPC members.
These should not be used a a definitive answer to any posts I attempt to answer.

#5 Son of Taeper

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Posted 12 April 2012 - 02:00 PM

While property prices drop around Europe there have been controversial reports for cities like Hamburg, Munich, Berlin, Frankfurt and others on 30% rise in 2011. On the other hand the official news papers in Germany report on average 5% rise. We visited few properties in Wiesbaden yesterday just to see that 80% of them were sold in just 2-3 weeks. We also saw some other interesting things. For example, if the agency advertises the apartment lets say for 120sqm, in reality there are only around 95-100 sqm. Even though having this in mind, they were all either under offer or reserved. What left on the property were totally unacceptable properties that none would even consider renovating?
We are puzzled on 2 things:
1) Why there are no official reports on this (my extensive search on Google did not return anything official) and
2) Is this a sign that Euro is going to collapse in a month or two.
P.S. We were told that December is the highest activity in real estate market here but seeing a queue of 20 buyers in the flat was an astonishing thing in a overall European depressed situation.

Thought I should get back to the op.
1 post in over a year of HPC membership.
That's a long time.
Not sure where you've been lurking in that time but I doubt it was on HPC.
2-3 weeks for a house sale is fast. Very fast imo. I know it's possible in the UK but never ever saw it even with vacant possession and no chains.
I'm sure there are some very clever tricks developers/agents use to shift property.

And you wonder why you cannot find any official figures?
On the 20 viewers per property it's not a new thing.
They call them open days in the uk.
We may well see a Euro crash, but as long as there are 20 guys queuing to buy a German property do you think it's likely?
I think you need to sift through the info you have on the German housing market and decide which bits you trust and which bits you don't.
The views expressed in my posts are my own based upon what I read on other information supplied by other HPC members.
These should not be used a a definitive answer to any posts I attempt to answer.

#6 Berlin Expert

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Posted 25 April 2012 - 02:17 PM

The German property market is a regionalised maket like any other. There are regions where the demand and price increases are high which is the south (Bavaria) and south west (Baden-Württemberg) to name two whereas some of the ex-east German regions look very dire due to the exodus of the work force.

There has been a lack of new building activities due to financing problems since the sub-prime debacle, this has produced some shortage of acceptable housing.

To name just these few aspects there are a lot of contributors to price increases in certain regions. Berlin is experiencing another run of international investors from Greece, ex Soviet Union states. If you want some detailed information there is a very detailed report to download from a blog called Property Investment in Germany: Berlin Housing Market Report 2012.




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