Immigrants inflated property prices in Germany

Immigrants inflated property prices in Germany

In 2012, about 1,081,000 immigrants arrived in Germany, which was 13% more than in 2011. It’s the largest figure since 1995, reports portal Capital.gr. According to the Federal Statistical Office, in Germany came mainly citizens of the southern European countries affected by the crisis, such as Spain, Greece and Italy, as well as the countries of Eastern Europe.

According to others, the number of visitors from Spain, Greece, Portugal and Italy increased by 40% or more compared to 2011, reports Reuters.

The biggest boom of German immigration in the last 20 years has affected the value of real estate in the country. According to portal ee24.com, over the past two years, the price tag rose to about €5,000 per square meter in the major German cities.