Contents page 1 — But what to buy? Page 2 — Only the brokers know your customers page 3 — Consistently ignored or not
read For some time, I know how it feels like to be an expert On a page. So it needs lawyers or Doctors go, if parties, after some initial banter, the tone confidential, and you will be asked: “do You Think this Mole is dangerous?”
My first apartment was a no-brainer. So the Americans call a Deal, you can’t go wrong with a low down payment and monthly financing cost below the rent. I bought it in the nineties in New York, where I studied. It was dirt cheap, was in a rough neighborhood of Queens and had a fabulous view of the Empire State Building. When I moved eight years later to Germany, had doubled the value of my property, and my curiosity was piqued. Back in my home in Munich, the search for a similarly lucrative Deal began.
Utta Seidenspinner
lived for ten years in New York and studied sociology. She works as a TV journalist with a focus on economic and social Affairs. Today she lives in Munich – rent. In September her book “living madness appeared: Why is Rent getting more expensive and property is priceless”.
Since 2003, I have been watching the market like a hawk and I live in Munich still for rent. To increase my surprise, the prices continuously, although the people who have to pay for everything, earn a lot more than in the past. My own interest has turned into a General Obsession, as I heard from other German cities similar story: Why emerged in Berlin everywhere luxury buildings? It was in Hamburg, suddenly less apartments, or more people? Since when needed, the Frankfurt residential towers with a Doorman and a gym? And why the Rents have increased steadily in the past years, up to 30 percent and the purchase prices of up to 75 percent, and our average monthly earnings in the same period, but only 11 percent? The continuous research conducted in my circle of friends to roll first eyes, and then I was suddenly the expert, were asked the following questions:
What is actually going on here?
the trigger was of course the financial crisis. Since the international Central banks in 2008 opened the floodgates and the interest rates continuously lowered, addiction to cheap money in the world to yields and came on the in the Away from slumbering German real estate market. The offers relatively cheap prices and a high level of security in a country that is considered to be Europe’s engine of growth. Germany is according to a study, not only the most respected country in the world, but since the Latest “Cool Germany”. Together with the historically low financing costs, results in an irresistible mix.
at the same time, low interest rates destroy the favorite form of investment in the German: the savings account. If you can afford it, invest now in concrete gold. The middle class, for example, sits on a couple of 100.000 inherited Euro and now does not know what to do with the money (German cherish an insurmountable Aversion to shares). The beginning of real professionals, who weren’t afraid of the risk were, however, followed by more and more investors, on the train jumped. German real estate has become a global asset class.
