Investment character Hot identify – Berlin
Sixteen years have passed since the former Soviet Union crumbled, leaving the intriguing East German capital of Berlin ready to confront its public.
With fantastic buy prices and high returns, Berlin is an unexpected character hot identify but one that has all the hallmarks of becoming a long term investment favourite.
With its troubled history and years spent out of the public eye, the city is a surprisingly modern, vibrant metropolis. Achingly hip, Berlin is unashamedly liberal, fusing Norman Foster architecture with graffiti. The street art, in turn sits side by side with world class displays at the Hamburger Bahnhof current art museum.
Berlin also has an abundance of green spaces and parkland, making for pleasant summer days when the mercury rises. instead of the traditional summer exodus of residents from the city, Berlin fills its steamy summer nights with festivals and music celebrations.
Germany has the lowest rate of home ownership in Europe with most residents opting to rent instead of buy. As a consequence, prices have been falling for the last decade or so. With more flexible mortgage lending slowly being introduced, now is an excellent time to take advantage of the low priced, high quality builds.
Like the city itself, Berlin’s character is complete of quirky charm and represents excellent value for money. A 1920s house, sympathetically renovated with central heating and a characterize staircase, located in the quiet west corner of the town, can be purchased for just EUR43,000 by DavidStanleyRedfern.com
For something completely different, the Teltower Damm Apartments in the exclusive residential area of Zehlensdorf if a premier development with a huge range of 1,2 and 3 bedroom similarities. Located to the south west of central Berlin, Zehlensdorf is close to the beautiful Wannsee lake area and Grunewald forest, both of which offer a range of outdoor as a hobby pursuits.
The ultimate desirable address, the area is well served with excellent transport links including the efficient Berlin city rail network. Prices start at EUR51,000.
German character typically offers much higher investment returns than the UK. Many similarities have strong, long term residential let possible due to the German tradition of renting instead of buying. The market is also regulated and benefits from EEC protection.
The strong and improving economy is complimented by low EU mortgage interest rates, making Berlin a beautiful destination to bag a bargain.