Sales of prime housing in Germany cities are increasing

Sales of prime housing in Germany cities are increasing

2240 luxury properties were sold in seven leading German cities in 2013, which is by 113 more than in 2012, reports ee24.com citing welt.de. Most often, customers were the residents of the corresponding cities, with the exception of Berlin, where there were a lot of investors from Russia, China and the Middle East. 

In value terms, sales of luxury property in Germany, worth more than €750,000, rose by 9% - from €2.7 to €3 billion. Wealthy buyers have spent the most in Munich (€415.6 million), Berlin (€346.3 million) and Hamburg (€333.6 million). 314 luxury houses and 340 luxury apartments were purchased in Munich, 219 and 261 in Berlin, 232 and 190 in Hamburg. Figures from Stuttgart (€119.2 million), Cologne (€98.4 million), Frankfurt (€40.1 million) and Dusseldorf (€12.5 million) are more modest, but those cities are smaller. 

Among three leading cities sales rose only in Berlin. If locals prevail in other German markets (from 65% to 85%), the federal capital attracts a lot of investors from Russia, China and the Middle East.