Berlin – the city with the fastest rising property prices in the world
The German capital ranks first in front of cities like Hong Kong, Paris and London when it comes to rising real estate prices
- April 17, 2018 18:30
- Olya Georgieva
Berlin has the fastest-rising house prices in the world. The prices there jumped by 20.5% in 2017 and just for comparison the average growth rate in real estate prices internationally are at 4.5%. The German cities of Hamburg, Munich, and Frankfurt all experienced price growth of between 13 and 15% too, putting them in the top 10.
Germany has an acute shortage of affordable apartments—demand for affordable houses currently outstrips supply by 1.9 million in Germany, and by 310 000 in Berlin alone. The triple whammy of foreign investment, low-interest rates, and a booming population has caused the Berlin property market to explode.
Source: The Local