German cities grow as economy prospers

GERMANY, according to the IP Global report:

Berlin: This city’s prosperous economy and population influx contributed to the German capital recording the highest price rises in the country in 2016, with a year-onyear price increase of 13% for apartments. Similarly, the rental market is strong, with between 5.1% and 6.9% rental growth in the past three years.

Hamburg: A third of its citizens are under 30, but the city has the highest gross domestic product per capita in the country. Hamburg has seen property prices rise by

70% since 2009, and rents are expected to keep rising by up to 9.6% this year.

Frankfurt: This city is a global financial hub and the financial centre of Germany. It is also known as the “Green City”, offering an excellent quality of life and fantastic transportation system. House prices increased by 30% in the past five years with population increases of 40 000 projected by 2020 and 830 000 by 2040.

Dusseldorf: This is ranked as Germany’s number one city for foreign direct investment and a centre for international finance. The city saw increases of 65% in property prices from 2009 to 2016, with rents increasing 33% in the same period. Property appreciation is expected to continue as long as interest rates remain unchanged. With 3.5% population growth forecast per annum until 2025, an increased demand is likely.

PICTURE: PIXABAY German cities are attractive investment options because they have good transport systems for residents.