International

A nation of renters is changing its tune

Cheap mortgages and rising rents make buying more appealing in Germany

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The following story by Francine Carrel, international property reporter, OPP, is reposted with permission from OPP Connect. Known as a nation of renters, only around 43 percent of those living in Germany own their property, but the number is slowly increasing. The Institut der deutschen Wirtschaft Köln (IW) has conducted a five-year analysis of all 402 counties and cities in the country to find out where it’s worth it to buy property. Residential property in Germany’s cities is overvalued around 25 percent, according to an index released Thursday by the VDP Association of German Pfanbrief Banks. Prices are rising across the country, especially for new-built units. IW concluded that buying a house or apartment made financial sense in only 27 percent of the regions examined. The regions examined by IW (red = most desirable to buy). Source: Die Welt However, they showed that more and more people are taking advantage of low interest rates in Germany, and forec...