Ger­man mar­ket for lux­ury hous­ing grows

Financial Mirror (Cyprus) - - FRONT PAGE -

As both the Frank­furt Al­ge­meine Zeitung and the Süd­deutsche Zeitung, along with Die Welt, re­ported, some 3,000 lux­ury residential prop­er­ties worth a com­bined EUR 3.7 bln were sold in Ger­many’s top seven lo­ca­tions in 2014.

Ac­cord­ing to a re­port is­sued by Dahler & Com­pany, this rep­re­sents an in­crease of close to 25% over 2013. Dahler & Co. de­fines lux­ury residential prop­er­ties as those that cost more than EUR 750,000.

Of the al­most 3,000 lux­ury vil­las and apart­ments that changed hands in 2014, Mu­nich had the most ac­tive mar­ket. The 920 trans­ac­tions in the city were worth a to­tal of EUR 1.2 bln (+41% YoY).

Ger­many’s other ma­jor cities also re­ported high de­mand, although sup­ply of­ten lagged be­hind. The num­ber of lux­ury prop­er­ties sold in Ber­lin ac­tu­ally fell last year. As re­ported by Dahler & Co., 468 lux­ury prop­er­ties worth a to­tal of EUR 595.4 mln swapped own­ers in Ber­lin in 2014. In 2013 there were 480 sales worth EUR 636 mil­lion.

The num­ber of de­tached and semi-de­tached houses sold in Ber­lin last year was lower than dur­ing the pre­ced­ing year, whereas con­do­minium sales were slightly higher. Taken to­gether, Ber­lin saw the weak­est de­vel­op­ments in com­par­i­son to the other six cities cov­ered by Dahler & Co.’s mar­ket study.

Ei­nar Sk­jer­ven of the Sk­jer­ven Group hasn’t budged in his pos­i­tive as­sess­ment of Ber­lin’s hous­ing mar­ket.

Sk­jer­ven is clear, “Apart­ments in any other mod­ern me­trop­o­lis, any­where else in the world, are nowhere near as cheap to buy as they are in Ber­lin. The mar­ket still hasn’t reached equi­lib­rium. Prices will con­tinue to rise, maybe not as quickly as in the past, but they are still head­ing higher.”

Last year alone, Sk­jer­ven sold con­do­mini­ums with a com­bined value of more than EUR 60 mln. Al­most 40% of his buy­ers came to his com­pany via Face­book. At Straus­berger Platz in Ber­lin, Sk­jer­ven is look­ing for buy­ers for 170 apart­ments. He has made the neo-clas­si­cal apart­ments ready for in­vestors. Sk­jer­ven has a strong track record of selling apart­ments in Char­lot­ten­burg, Mitte, Friedrichshain and Pren­zlauer Berg via his Part-B I mmo­bilien sub­sidiary. (www.Zitel­mann.com)

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