Nottingham, United Kingdom (PressExposure) July 09, 2008 -- The overseas property specialists, David Stanley Redfern Ltd, have a unique opportunity in the German capital, Berlin.
The Landhaus CarrÃ©e, in Zehlendorf, comes with a 10-year rental guarantee (providing additional income security); a 10-year modernisation guarantee (covering all aspects of modernisation work undertaken to keep property standards up to date); a 10-year maintenance guarantee (protects against ongoing maintenance costs for a ten year period); and 10-year rent/apartment management (tenant support, rent administration and operating cost accounting all undertaken free of charge).
However, it is unlikely to take 10 years for the property to appreciate: The German market is one characterised by extremely low home-ownership â 43 percent nationwide and 12 percent in Berlin. The majority rent, especially in Berlin, which has helped to keep property prices amongst the lowest in the Westernised world. Yet these rents, which have been kept artificially low by large public housing companies that once owned large swathes of housing, are beginning to rise as state governments force their sale in order to offload some of the states debts. As rents rise, and interest rates stay relatively low, mortgages and home ownership become more attractive causing house prices to rise. On top of this, not enough homes are being built to meet future demand, causing rents to rise further and further fuelling the ownership market.
Over the next 3-5 years, Germany, and especially Berlin is likely to see both rising rental rents and rising prices. This presents a unique opportunity as Berlin prices are at the same level as they were in London, Dublin and Paris 18 years ago. There is no other European city where you can buy high quality apartments in the city centre for less than Â£2,359 per square metre.
David Stanley Redfern Ltdâs Landhaus property is in Berlinâs wealthiest district and contains some of the most natural settings in Berlin, including parts of the Grunewald forest and the Schlachtensee and Krumme Lanke lakes. Direct access to city centre can be made via road; the S-Bahn; the U-Bahn; and the U3 line.
The apartment complex itself was built in 1928 in the CarrÃ©e style in keeping with the old country houses. The living spaces are bright and airy providing a high standard of living in innovative architecture, with one of the largest inner courtyards and a private park. All apartments have been modernised and certified by the German underwriters âTUVâ who carry out all repairs and modernisation, awarding the coveted TUV stamp of approval. Prices range from Â£117,000 to Â£188,000 for a 2-3 bedroom apartments.
Find out more about German property.