Donnerstag, 27. November 2008
Berlin Residential Real Estate Market 2009 Outlook
Yet another indicator for the development potential of the Berlin residential market. With the current price level for Investment Property at early last year’s level and growing numbers of pressured sales due to “De-Leveraging” where investors sell properties to generate fresh cash the yields have improved significantly. Recently some big investors in the Berlin market like ORCO Germany have sold properties between 2 - 20 % below their book values.
The take-up by the market is relatively slow as most banks require up to 40 % equity to match their lending. “Equity is king” and those who have it can cherry-pick. Any relaxation in this area will depend on the development of the financial crisis and any forecasts on this a currently very vague.
In order to make the right decision on property investments reliable pre-acquisition information and investigation is vital.To then ensure a long term successfull outcome, performance targets, measurement concepts and concepts for performance improvement have to be implemented based on the information gathered during the pre-acquisition process.
A bundle of services and tools necessary to achieve the fundamental set-up requirements of a property investment are described on www.berlin-portfolio.com
Uwe Falkenberg
source: http://www.quickannounce.com/berlin-residential-real-estate-market-2009-outlook/
Berlin rental yields and real estate market in the financial crisis
MARKET OVERVIEW
Though there was a construction boom in the 1990s after the unification of East and West Germany, the property market in Germany has been relatively flat over the past decade, according to Tobias Just, head of real estate research for Deutsche Bank. Prices are growing slightly in desirable markets like Berlin and Munich, but Mr. Just said most markets were holding steady or experiencing a slight downturn. “We haven’t had a rapid growth period like other markets,” he said, “so there is nothing to correct.” The stability may also be ascribed to Germany’s conservative mortgage system. Over 90 percent of the mortgages issued in Germany have fixed interest rates, and borrowers typically put down 30 percent of the purchase price. “This is a nice cocktail to prevent prices from going through the roof,” Mr. Just said.
Germany’s tenant-friendly laws are another factor in keeping property prices down. Rent control is strict, and evictions are slow and expensive for property owners. The laws favor tenants because “most of the electorate is renting,” he said. Roughly 50 percent of all residential units in Germany are rentals, and many are owned by the government or by nonprofit public welfare agencies. Although there was an influx of foreign investors buying rental units from 2003 to 2006, prices stayed stagnant because of an oversupply of rental units.
The market for luxury homes in the Munich area is small but strong, according to Christian Ehbauer, owner of Re/Max Exclusive in Gruenwald. Older luxury condominiums in Munich cost 6,000 to 9,000 euros per square meter ($695 to $1,040 per square foot), but some new units sell for as much as 12,000 to 16,000 euros per square meter ($1,390 to $1,850 per square foot).
Well-appointed single-family homes in Gruenwald or Starnberg, suburbs south of Munich, cost 1.4 million to 2.8 million euros ($1.7 million to $3.5 million), but Mr. Ehbauer has seen mansions with lake frontage in Starnberg sell for as much as 8 to 12 million euros ($1 million to $15 million).
source:
Credit Crunch Could Boost German Property Market
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source: http://www.theopenpress.com/index.php?a=press&id=41127
Dienstag, 18. November 2008
In Berlin - Real Estate continues to rise
Cost of the inhabited and commercial real estate in Germany has grown on 5,2 % from the beginning of current year, however it still can’t be compared with the level of 2007. Such information has been represented in Real Estate Price Indicator’s report, published by investment group Estavis.
The prices in Berlin have risen on 2 %. In the areas located in vicinities of large city agglomerations, the gain has made 0,8 %. However, as a whole on the country cost of habitation and the commercial areas has decreased on 9,3 % in comparison with last year.
Last Thursday the Federal statistical bureau of the country declared that in the third quarter of 2008 growth of gross national product of Germany was reduced to 0,5 %, after recession(on 0,4%) in the second quarter. Reduction of gross national product’s growth within two quarters testifies about the end of recession.
Mittwoch, 12. November 2008
ANGELINA JOLIE and BRAD PITT COMPRANO A BERLINO CASA DA 600 MQ!
BERLINO - Brad Pitt (43 anni) e Angelina Jolie (31 anni) hanno comprato a Berlino un enorme appartamento da 600 metri quadrati. A riferirlo, nel suo primo numero dell'edizione tedesca, è oggi il settimanale americano 'Vanity Fair'. La nuova casa berlinese della famosa coppia di Hollywood - che negli ultimi mesi sono stati a più riprese nella capitale tedesca - è un attico situato nel quartiere 'Mitte' (Centro) non lontano dall'Alexanderplatz, nella parte est di Berlino.Pitt e Jolie possiedono, oltre a varie case negli Stati Uniti, un appartamento anche a Parigi. Di recente la Jolie aveva espresso l'intenzione di non voler far crescere i propri figli a Hollywood e di considerare per questo un possibile trasferimento in Europa. Brad Pitt da parte sua ha rapporti di amicizia con gli architetti berlinesi Lars Krueckeberg, Wolfraum Putz e Thomas Willemeit, che hanno progettato fra l'altro la sua villa a Los Angeles.Brad Pitt e Angelina Jolie hanno una figlia, Shiloh, nata lo scorso maggio in Namibia. L'attore da parte sua ha adottato anch'egli i due bambini - Maddox e Zahara - precedentemente adottati dalla Jolie. Il primo esemplare in tedesco di 'Vanity Fair', che avrà cadenza settimanale, è uscita in 500 mila copie e costa solo un euro.
ANGELINA JOLIE and BRAD PITT have taken a step closer to moving to Europe permanently by buying an apartment in Berlin, Germany. The couple have been regular visitors to the German capital, and have now taken ownership of a luxury 600 square metre (6,500 square foot) attic flat in what used to be East Berlin, according to the German edition of Vanity Fair. The GIRL, INTERRUPTED star - who already has homes in the US and an apartment in Paris, France, with Pitt - wants her adopted children MADDOX and ZAHARA and her biological daughter SHILOH to grow up outside the Hollywood bubble. Pitt is good friends with German architects LARS KRUECKEBERG, WOLFRAM PUTZ and THOMAS WILLEMEIT, who designed his house in Los Angeles.
Donnerstag, 6. November 2008
Trend BERLINO: Costa la metà di Roma: 20 affari nella città più cool d´Europa
Dienstag, 4. November 2008
Price: EUR 395,000
Net rent: EUR 34,750
Net yield: 8.8%
Year of construction: 1983
Year of renovation: 1999
Total living area: 617.7 sq m (excluding storage rooms and balconies)
These ten apartments are all fully renovated and were given modern fully-tiled white bathrooms and double glazed PVC windows in 1999. Each apartment offers very generous room sizes and substantial balconies with views over the City towards Mitte. All apartments are let to reliable long-term tenants. The apartments form part of a very well managed development. Corridors, lifts etc are cleaned twice weekly. The grounds include ample parking and a variety of young trees and plants. The accounts for the development are EUR260,000 in credit (i.e. the buyer effectively gets EUR12,000 in free contributions). The development is in a green area of Eastern Berlin popular with young families.
The local U-Bahn and S-Bahn stations are a 5 minute walk away, the local park is a 2 minute walk. The development includes several small shops and a nursery. The regional shopping centre is just 5 minutes by car, and the very popular Gardens of the World attraction is just as accessible.
The centre of Berlin can be reached in 20 minutes by car or train. They were fully refurbished in 1999 (windows, internal doors, electrics, heating, and insulation were upgraded. They have all new bathriooms. Ideally, the owner wishes for them to be sold individually. Sales of individual properties are also possible.