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German Housing Market is Heating Up

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Grit Hildebrandt finally found her dream house near the German city of Rostock two years ago, paying more than 10 percent over the asking price to beat the other bidders. She’s now glad she’s on the other side in the country’s red-hot housing market.“When you really like a place and there are so few others available, you just have to bite the bullet,” the 38-year-old banker said by phone. “It’s an absolute seller’s market, and they know it.”Germany’s residential property market has taken off in the last seven years, with apartment prices in the biggest cities rising more than 60 percent, according to Deutsche Bank AG. In Munich, they’ve doubled in value. The result? Homes in 127 German cities were overvalued by as much as 30 percent last year, the government said in a June report, adding that the low level of private indebtedness means the risk of a “correction” appears to be small.

Source: Germany’s Housing Market Is Red Hot, But Don’t Call It a Bubble – Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
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