German property market not so bonne
As we start to report on the German property market, the familiar stories of plummeting market values and real estate developers & agencies all facing oblivion are as prevalent here as anywhere.
Market figures of true property values in the country seem to be a little unreliable, according to a report by Jones Lang La Salle, last month.
It would seem properties for sale in Germany have under gone the same process of re-evaluation in the sales process that has been seen in transactions throughout Europe, as offer prices are re negotiated last minute by investors in a strong position.
For Germany, market recovery seems uncertain as the global crunch has perhaps had a bigger impact upon what was Europe’s largest housing market.
The key areas for the country, according to many experts, are Hamburg, Munich, & Frankfurt, cities of relatively strong economic position. With post 1990 constructions topping the list for prospective investors.
As with anywhere these days, the long term investor, patient & cash ready will harvest the best returns in the market recovery.