Real Estate in East Germany
Germany is one of the world's leading industrialized countries, located in the heart of Europe. It is bordered to the north by the North Sea, Denmark, and the Baltic Sea, to the south by Austria and Switzerland, to the west by France, Belgium, the Netherlands and Luxembourg, and to the east by Poland and the Czech Republic.
Real Estate in Germany:
There is still a big difference in price trends between East and West Germany.
West-German prices have been relatively stable or flat for the last five years, housing prices in East Germany have experienced substantial price decreases.
There are two primary reasons for this trend:
1. In 1999 the government stopped the allowance for tax deductions on newly-built properties in East Germany
2. The percentage of unemployment has been steadily increasing over the last years, resulting in homeowners leaving small eastern German towns in attempts to find work in the west.
Anyway, it is to be expected that this trend will change in the mid term range.
Jean - P. Deeken, akquinet AG
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