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Residential property investment surges in Germany
Residential property investment surges in Germany
June 24, 2010€1.58 billion were invested in German apartment buildings over the first half of 2010, which exceeds the last year’s indicators by 17.9%, in annual terms.
The number of residential properties purchased by investors soared by 20% - up to 30,000 units, Property Magazine International reports, citing data provided by Cushman & Wakefield. It is also noted that the number of large transactions (sale of more than 250 properties) concluded over the specified period has remained intact since the first half of 2009.
Average residential property prices on German investment market have amounted to €770 per a sq. m. - a 1.3% decline in comparison to the end of last year.
We would like to remind you that, the total volume of investment transactions on local housing market has decreased by almost a half over 2009, year-on-year, down to €3.2 billion.
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