Last time I spelt out the significant changes we've seen in the German property market over the last year or so and why I think it's heading towards a potential investment opportunity for the BTL investor.

But I concluded that now is NOT the right time to invest.

This time I'm going to spell out why I believe this.

It isn't hard to see why the mortgage market and the desire for property ownership in Germany have remained almost static for so long.

The key has been the German consumer's reluctance to take on debt, even at ultra low levels of interest. And the reason for this has primarily been fear. Fear that worse economic woes were on the way.