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Secondary housing market in Germany demonstrates stability
Secondary housing market in Germany demonstrates stability
May 20, 2010In Q1 2010, prices for German second homes have only declined by 0.9%, compared to the preceding quarter, while decreasing by 1.5% in annualized terms.
In comparison with Q4 2009, detached homes have depreciated by 0.7%, while apartments cheapened by 1.6%, according to a report by VdpResearch Company, a division of the Association of German Banks.
Company experts claim that the statistics speak of relative stability of residential property market in Germany, in comparison with other European states. Despite the macro-economic “weakness” of Germany throughout 2009, the demand for local second homes has remained stable.
We would like to remind you that, according to a recent study by the Urban Land Institute organization and PricewaterhouseCoopers, commercial property markets in Munich and Hamburg were considered the most promising in Europe.
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