Germany scoring highly with investors
Interest in Germany from UK property-buyers surged dramatically last month, proof that many Brits have been put off investing in Eurozone countries where weak economies have put them at risk of leaving the single currency.
In the Rightmove Overseas November report, the top three spots for destinations that recorded the strongest percentage rise in searches on the property portal went to Germany, with Brandenburg at the top, followed by Sachsen-Anhalt and Oberbayern. Two further German destinations in the top ten were Sachsen and Bayern.
Cities in Germany present residential buy-to-let opportunities thanks to German people being less prone to buying their own homes – home ownership is estimated at less than 40 per cent there, compared with around 80 per cent in the UK.
Shameem Golamy, Head of Overseas at Rightmove said: “Significantly 9 out of the top 10 most popular regions month on month are in Germany and Poland, the most popular being Brandenburg with a 82 per cent rise. This suggests that, as in previous months, the economic stability of the Germany, together with the investment opportunities available in Poland are really attracting UK buyers.”
If you’re planning to buy property in Germany and need to transfer a large sum of money, remember to use a currency specialist to exchange your pounds into euros. For more information, contact Smart Currency Exchange.
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