The managing director of a firm which helps UK and Irish investors to enter the German property market has said the country represents a safe investment because the credit crunch has only had a slight effect.
Denis Madden of the German Property Centre stated that interest over the past couple of years had been "huge".
He added: "Whereas you've seen a fall-off in other markets, Germany has, relative to other markets, been as safe as houses."
Mr Madden explained that the improvement in the German market had come about because the overall economy has been recovering in recent years following a long time in the doldrums after reunification in 1990.
Examples of this were the recent falls in unemployment and the fact that last year saw the first budget surplus since the east and west of Germany were brought back together.
In an article reproduced in Newsweek, the vice-president of Germany's Real Estate Association Jurgen Michael Schick told Speigel Online that the places with the best growth in value in the country were Munich, Hamburg and Nuremberg.
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