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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| Investors bet on German commercial property boom. | ||
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10 February
2007 Financial Times |
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Investment
in German commercial property is at a record high, boosted by the
flood of foreign investors who are betting that the recovery in
Europe's largest economy will at last trigger rising demand for
offices and shops. The volume of German commercial property transactions more than doubled to €45bn ($59.8bn) last year from 2005, according to figures by Jones Lang LaSalle, the property consultant and investor. Activity is at an all-time high and foreign investors account for 79 per cent of the deal volume. |
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| "These
figures are considerably better than expected and underpin the view
that the recovery in Germany has become self-sustaining," Elga
Bartsch, economist at Morgan Stanley, said. The data, following
very upbeat business sentiment surveys at the end of December, will
buttress the view shared by a majority of economists that the strong
German recovery will last well into 2007. The closely followed Ifo
business sentiment index surged to a 16-year high last month after
notching up the fastest growth last year since the start of the
decade. The German economy is expected to have grown by 2.5 per
cent in 2006, exceeding French growth for the first time since 1994.
"The positive development in unemployment is mainly down to the cyclical rebound in job creation," the Labour Agency wrote in its monthly report. In November, the latest month for which employment data was available, the Agency recorded 46,000 job creations, bringing the total number of positions created in the past year close to half a million. |
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