Brickbats for Berlin? Is the German capital a property investor's dream or just an urban myth?
Brickbats for Berlin? Is the German capital a property investor's dream or just an urban myth?
15th August 2007
By Anna Grybel and Andrea Harper
The big question is: Why are the prices so low - is it just fool's gold?
Pick up a foreign property magazine featuring Germany and it's sure to extol the virtures of Berlin with its low prices, and good rental yields, which look like a bargain for a European capital city.
But what are we actually getting for our money?
Berlin only became a capital city in 1999 following the reunification of Germany and it hasn't yet established itself as a capital city. Its economic performance is below the national average and its GDP growth rate is flat.
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