Over the last five years German property funds have been awash with cash, writes Robin. This has been in part driven by the German public's lack of belief in investing in the stock market. Many people lost money in the disastrous flotation of Deutsche Telekom and felt cheated that the stock, pushed up by the German government, had, by 2002, almost halved in value. This came hard on the heels of the wider dot com crash in 2000.