German house prices

StevieJ

lollipopsarah wrote: »

As far as I know most germans prefer to rent.
xx

I am fairly sure that isn't true.

Conrad

sarah69696pink wrote: »

OH is from Germany and he finds it weird we buy houses, seems renting is def the norm!

This is a bit of a myth.

I owned a plot of land in Berlin and I still own some flats out near the Polish border.
Ownership rates in what was West Germany are only just behind the UK's.

Eastern Germany was of course communist so thats why few owned, but slowly it's changing.

Also wanted to add that prices can be high or low, depending where you are in Germany, just as is the case with the UK.

One part I thought had staggering value was lovely parts of the North where you could get a massive detached wonderful home for under £100k. I cant think of a part of the UK like that (that is still pretty and a nice place to live).

Conrad

toby3000 wrote: »

Also, house prices are much more stable AFAIK.

Berlin had a massive boom then bust in the early noughties.

CRASH_BANG_WALLOP

Sibley wrote: »

I think the UK will end up the same.
Houses totally out of the reach of the average man.

It won't bother me. I own already. Pull the ladder up Jack.:rotfl:

laughing at other dudes misfortune. im not surprised as you have no children to worry about

posh*spice

Germany’s house price bubble is only just getting started

German fear of inflation is driving house prices higher

Prices across Germany rose 2.5% in 2010 and 5.5% last year (that’s twice the rate of inflation). In some cities, such as Berlin and Munich, apartment prices were up 10%. A few weeks ago, the FT even reported a very un-German and bubble-like trade in Munich: a house which sold for €3m six years ago has just changed hands for over €6m.

The Germans too are searching for a financial safe haven. And property doesn’t just offer a good yield (in much of Germany at least). It offers a degree of protection against the fallout from the problems in the rest of the eurozone and against inflation.
“People have started to look for alternative investments, and one of the obvious ones is bricks and mortar. Couple that with angst about inflation, which is driving people into real assets, and what you see is high demand for property”, Andrew Groom, head of valuation and transaction advisory for Germany at Jones Lang LaSalle, the property consultancy, told the WSJ.

http://www.moneyweek.com/investments/property/europe/money-morning-germany-house-price-bubble-21300

guitarman001

Tell me zee Germans wont get into property mania
I think renting is more the norm, but from what I hear more and more are wanting to buy as insurance in old age.

pqrdef

guitarman001 wrote: »

Have been looking at how much it costs to BUY in Munich and WOW - very expensive. It seems renting is well regulated and affordable (much better properties, also) but buying costs an absolute fortune. £400k for a flat, anyone?

OK, I'll ask the obvious. How come the landlords aren't all bankrupt?

Emy1501

Something like only 45% of germans own their property which is one of the lowest rates in Europe. Spain, Ireland and Italy have the highest rates.

Whilst most would probably prefer to own I suspect that the much better renting system they have means people do not over extend themselves to buy like in some other EU countries which does not seem to do well for the economies of these countries.

Pimperne1

Wookster wrote: »

If karma doesn't get him, syphilis will.

Comment itself is a disgrace and those who thanked him should be ashamed.

sims01

guitarman001 wrote: »

Tell me zee Germans wont get into property mania
I think renting is more the norm, but from what I hear more and more are wanting to buy as insurance in old age.

Some houses and bigger flats in prime residential locations in Munich have reached €20,000 EUR/sq m recently, which is about the same as South Kensington, although the majority is still 'only' at about 2/3 of London prices.