Berlin Property for Sale
A web resource for UK and Irish buyers looking to invest in Berlin propertyBerlin Property for Sale
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| German Property Experts Gather in Dublin for Berlin Real Estate Seminar | ||
8 June 2006 Germanpropertynews.com The German Property Centre, a specialist investment property services company, held a seminar in Dublin this week for investors considering investing in the German property market. The focus of the seminar was the Berlin property market which according to the speakers is now starting to see a turnaround in transaction volumes and valuations in the past year. |
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The
seminar, sponsored by Capital Invest Ltd, was organized by the German
Property Centre and featured a panel of German property specialists
covering topics including the residential property market; taxation;
and investing in large commercial portfolios via private property
funds. Wolfgang Hummel, the Director of City Planning and Outside Investment for the Berlin Senate spoke about the development of Berlin; its property market; and its economic prospects. He outlined that valuations in Berlin city are low when compared with other German cities and that at current valuations, buildings are being sold at prices which are less their construction cost. |
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| Denis
Madden, a Director at the German Property Centre, gave an analysis
on German property investment opportunities and where large and
small investment funds are flowing. "At one extreme there are
private equity companies buying up housing stock in multi billion
euro acquisitions, and at the other end of the market, smaller investors
are increasingly buying apartments and apartment blocks with yields
between five and seven per cent" said Madden. "Research is showing that the boom and bust cycle in the German construction industry in the last decade has led to a low level of housing completions currently. In 2005, 2.7 new homes were completed per capita in Germany, compared with a rate of 18.6 per capita in Ireland. The current German new home completion level is 63% down on 1995 levels. With an ongoing increase in the number of households and the low new supply level, forecasters are estimating regional shortages in the future with higher prices and rent levels", said Madden. A Munich based German taxation consultant, Thomas Zitzelsberger, covered tax aspects of investing in German property and the practicalities of managing annual returns, acquisitions and disposals. Speakers from Berlin property firms discussed the Berlin residential property market, its structure, districts and opportunities, while Michael Halsal, director of SolidBau Real Estate, a German property investment fund, outlined opportunities for German commercial property investments for private clients via tax efficient investment funds. |
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