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Growth in Berlin During Brexit

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German properties continue to grow during Brexit. Even the rentals are constantly growing in the city and property is rather unaffordable for the local buyers. Germany offered easy citizenships to Britons during Brexit, although, the country does not allow dual citizenships. It is treating Britons as citizens during the transaction phase and there are provisions where the people who lived for more than 5 years in the country will be given the settled status and citizenship benefits such as pensions and healthcare. During Brexit, Berlin is offering opportunities in commercial investment where rents are growing for the small and midsize tenants. The markets of Germany are transparent as compared to China. China growth declined from 7 to 4.5 per cent in 2017, and in the US, the home prices rose 6.3 per cent in 2017, where, Seattle showed the highest growth of 12.7 per cent – as per Knight Frank reports.

BR-NAS bought office space for 30 million euros in Germany Düsseldorf and Essen. Finnish fund Ilmarinen invested in Berlin, Amsterdam and US. Deutsche Industries bought three industrial properties in Berlin – (Schleiz on Munich mototway, Bremen and Lower Saxony, Shortens for 8.05 billion euros). Dentan entered a partnership with real estate company René Dubois to enhance business in Germany real estate. Swiss company Swiss Life will buy Berlin-based BEOS to enhance its branches in mixed real estate business – office space, manufacturing and logistics. Singapore wealth fund bought properties in GIC Pte, bought properties in TechnoCampus Berlin with the partnership of local company for a project that transforms aging buildings to office space.

Germany property fund investment increased in 2017 by 50 per cent and there are at least 13 German open ended funds targeting institutional investors and private investors to invest in the country to gain during Brexit volatility (as evaluated by Scope). In 2017, the total investment in Germany was 2.3 billion euro.

Inflation rose by at least 80 per cent in the leading cities of Germany in the past decade as per the statistics released by the Deutsche Bank. The apartment rates in Munich doubled, while, in Hamburg it is growing at the rate of 70 per cent. Germany is showing some of the highest growth, while, UK properties are slowing in some regions. Hong Kong and Vancouver are other growing cities. Low interest rates, more jobs and growth in population in the top cities are the key reasons for the rise in property prices leading to shortage where the city such as Munich population grew several thousands in comparison to the available house units in Germany. In Berlin, the prices grew 20 per cent y-o-y and on an average, the rates of properties in Frankfurt, Munich and Hamburg grew 13 per cent in the last year.

Germany office space prices are growing and the price of commercial real estate in Germany sub markets also increased. The growing demand from investors has led to the rise in price of office space three times in five years. The welcoming visa and settlement options increased inflow of young tech workers in the country.

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Growth in Berlin during Brexit. (2019, May 14). GradesFixer. Retrieved December 4, 2022, from https://gradesfixer.com/free-essay-examples/growth-in-berlin-during-brexit/
“Growth in Berlin during Brexit.” GradesFixer, 14 May 2019, gradesfixer.com/free-essay-examples/growth-in-berlin-during-brexit/
Growth in Berlin during Brexit. [online]. Available at: <https://gradesfixer.com/free-essay-examples/growth-in-berlin-during-brexit/> [Accessed 4 Dec. 2022].
Growth in Berlin during Brexit [Internet]. GradesFixer. 2019 May 14 [cited 2022 Dec 4]. Available from: https://gradesfixer.com/free-essay-examples/growth-in-berlin-during-brexit/
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