Released on: October 8, 2007, 11:18 am

Press Release Author: Jim watson

Industry: Real Estate

Press Release Summary: Those looking to invest in property in Germany have been
frequently advised to look to Berlin, a capital city starting to rediscover itself
following its division during the cold war years and subsequent economic malaise as
the subsidies vanished and the post-reunification recession took its toll.

Press Release Body: Those looking to invest in property in Germany have been
frequently advised to look to Berlin, a capital city starting to rediscover itself
following its division during the cold war years and subsequent economic malaise as
the subsidies vanished and the post-reunification recession took its toll. Today, it
is proclaimed, the city is starting to flourish, with new buildings, attractive
housing developments and a cultural regeneration.

Yet while Berlin is reinventing itself, not all are convinced it is the best place
for German property investors to go. Simon Tweddle, chief analyst for Property
Secrets, is one expert who has begged to differ, suggesting Hamburg and Munich are
the better prospects.

He said: \"I think there are probably better opportunities if you look outside of
Berlin. If you look towards somewhere like Hamburg and Munich, they are actually
economically stronger. When the German property market does pick up, those are
likely to be the cities that will grow first, not Berlin.\"

Mr Tweddle said this was due to the fact that, while the German economy and property
market have been sluggish in recent years, meaning anyone looking to sell a property
quickly would take a loss, the two cities nonetheless have better employment rates
and more available property.

This downbeat view of Berlin contrasts with the views of many. For example, last
month Berlin Capital Investments talked of good times ahead, with director Fergal
Creed saying: \"There is strong demand for both sales and rented accommodation,
particularly at the luxury end of the market\".

Simon Tweddle, by contrast, has argued that Berlin\'s popularity is down to the way
agents are singing its praises rather than any really special prospects. On the
question of the merits of Munich and Hamburg, however, there may be rather less
dispute.

In February this year, a survey of European property experts jointly published by
the Urban Land Institute and PricewaterhouseCoopers found both cities ranked ahead
of Berlin in a league table of the best European cities to invest, with Munich
fourth overall and Hamburg ninth.

Both cities have attractive elements which may interest investors, with Hamburg
having redeveloped its large harbour area and Munich being famous for the
Oktoberfest. In the latter case, the city is also historically wealthy, being based
in Bavaria, the richest Lander in Germany.

Those considering investment in Germany should be in it for the long term, Simon
Tweddle advocates, due to the low growth at present. But if the economy improves at
the rate some optimists believe it soon will, investors may have some very
interesting choices to make about which cities they look to buy property in.

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