Germany is seeing more interest from overseas property buyers as its economy is regarded as more stable than many other European countries.
It has entered the top ten list compiled by TheMoveChannel for the first time in terms of the most popular property destinations.
Germany jumped four places in the overseas property portal’s rankings to take the tenth spot, joining the familiar faces of Spain, France, Portugal and the United States.
The country accounted for 2.19% of all enquiries received by TheMoveChannel in September, replacing the small island of Cape Verde, which dropped 12 places after its surprise entry into the top ten last month.
Unlike the short term surge of interest in Cape Verde’s smaller economy, the popularity of German property has been growing for some time. An established member of the Eurozone, Germany has been consistently drawing more enquiries from investors for three months in a row, rising seven places in the chart since July.
‘The high yields and low prices have long made German real estate a recognised investment for property buyers, but it seems that the wider climate of uncertainty across Europe is pushing buyers to consider more stable markets, such as Germany,’ said director Dan Johnson.
‘Consumer debt is relatively low and the inherently more cautious banks are somewhat less likely to get drawn into the debt crisis than their European counterparts and it’s maybe this longer term security that is inspiring confidence in buyers,’ he added.
Spain remained the most popular destination for buyers in September, seeing an increase of over 2% in enquiries since August. France is still a firm second favourite, also perceived as a safe place for investment, but Portugal claimed third place for the first time, attracting more attention than the US with buyers looking for cheap prices as the market bottoms out.
Berlin Capital Investments explained Germany’s growing appeal:
‘The property market has shown investors that there is a safe and secure option in Europe. Berlin property prices have grown 7% in the last 12 months and this coupled with a strong demand for high class rental apartments make Berlin a very attractive investment opportunity,’ said a spokesman.