Exceptional luxury property in Germany sees significant price growth
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The most expensive residential locations in Germany have risen significantly in value once again between 2010 and 2011, according to the latest survey of he country’s luxury property market from Engel & Völkers.
There have been substantial price increases in price in Berlin, Hamburg, Munich, and on Lake Starnberg. Record price highs have also been recorded in holiday regions on the North and Baltic Sea coasts and in the Alpine region.
On Lake Starnberg, at prime addresses in the lakeside town of Berg, rare lakeside plots are already reaching prices per square metre of up to €25,000 in exceptional cases.
The dynamic of the price trend in these locations has become reminiscent of the development witnessed on the island of Sylt, the survey also shows. In Kampen, the most sought after part of Sylt, unaltered prices of as much as €35,000 per square metre mark the highest end of the market.
The survey focuses on exceptional locations and properties. ‘The top prices quoted are not representative of the market in general, nor do they reflect price trends for residential property in other locations,’ said Kai Enders, member of the board responsible for the residential property division at Engel & Völkers.
