According to the OPP news, the German residential market is booming and investment volumes in the first 6 month of 2011 equalled the total amount spent in the full 12 month of 2011.
The top-selling properties are the freehold apartments in all the major cities of Germany. In a year-on-year comparison, purchase prices in Munich and Hamburg grew more than 10%. Increases were also registered in Berlin, Frankfurt and Düsseldorf of more than 5%.
Leipzig comes out as Germany’s cheapest city on the home front and the only one recorded a slight drop in purchase prices.
Rental prices have increased significantly since mid-2011 in the most of major cities, with Hamburg (+7%) and Berlin (+6,2 %) showing the greatest level of growth.