Berlin’s real estate became popular among foreign investors
According to Engel & Völkers real estate agency, over the last ten years, the share of foreign buyers of elite housing in Berlin grew by 20% and reached 30%.
As reports tranio.ru, referring to real estate agency, the popularity of Berlin's luxury real estate is explained by its low cost in comparison with other European capitals where the prices are about 30% higher. To this factor was added the weakening of euro against American dollar and the British pound that caused additional interest of foreign buyers.
Thus the demand for an elite real estate in the capital of Germany considerably exceeds the offer as the majority of new buildings are sold even before completion of construction. In addition, often objects which are considered elite in Berlin, especially in the east part of the city, hardly get under such definition in Paris or London.
The most popular districts of the German capital at buyers of houses and luxury apartments are Mitte, Charlottenburg and especially Kurfürstendamm.
If in the middle of the 2000th years among buyers in the market of the elite real estate of Berlin prevailed British buyers, after the crisis the situation started changing. Today more and more investors come from Saudi Arabia, Kuwait, and Israel, but Chinese and Russians dominate in the market. Russian buyers spend on average 1 million euros in Berlin's real estate market.