Berlin property market to boom
The property market in Germany could be set to boom after 15 years of static prices, according to overseas property experts. Property prices in the centre of Berlin are as much as five times lower than equivalent properties in Paris, London and other major European capital cities. According to property investment firm Assetz, just 13 per cent of the population of Berlin own their homes, compared to 43 per cent in Germany as a whole, 66 per cent in the UK and 85 per cent in Spain.
A two or three-bedroom 100 square metre (1,100 square foot) apartment in a 19th century building in central Berlin now costs about €200,000 (£137,120), which is just €2,000 a square metre. An equivalent property in London or Paris is likely to cost up to €10,000 per square metre.
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