An indisputable advantage of Germany is a strong economy. This was the decisive factor in overcoming the crisis painlessly with the real estate market in this country. But how are things in this sector today?
The fact that the state with minimal losses emerged from the crisis does not yet confirm the constant stability of the real estate market. After the destruction of the Berlin Wall and the unification of the state, serious changes took place in the market, associated with the massive relocation of many citizens to other areas and the sale of housing at low prices. First of all, this was reflected in the real estate market in the eastern regions of Germany, where the fall in prices reached 30%.
2008 was marked by a rapid decline in housing prices in many European countries, which was impossible to say about Germany, where the reduction in prices reached a maximum of only 2%. According to experienced analysts, such stability is due to a lack of real estate. So, for example, in 2007 only 230 thousand objects were built, while 10 years earlier this figure was 3 times higher. Continue reading