Wednesday 30 April 2008

German Unemployment further reduced in April 2008

Despite worries about how the global credit crisis and strong Euro might affect its economy, Germany's unemployment rate sank to 8.1 percent in April, down from 8.4 percent in March. The new government figures, which were announced Wednesday (30.04.), represent 94,000 fewer people out of work.

Together with wide spread wage increases this is one of the key factors that actually make the increases in rent feasible which were held back for a long period.


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Wednesday 16 April 2008

Turkish property sales to foreigners temporarily halted

Hurriyet English with wires, Wednesday, April 16, 2008 21:54

Turkish property sales to foreigners is to be temporarily halted from Wednesday, declared a Ministry of Public Works and Settlement inline with a Constitutional Court ruling three months ago. A new regulation was delivered to the Board of Ministers for approval. (UPDATED)


A new regulation regarding the sale of Turkish property to foreigners was delivered to the Board of Ministers for approval on Wednesday.

According to information obtained from ministry's officials, a circular letter on Tuesday was sent to all land registry offices indicating the end of the sale of real estate to foreigners.

The related verdict of the Constitutional Court will come into effect from Wednesday.

The law does not restrict foreigners who already own property in Turkey from selling it to Turkish Citizens.

A total of 63,085 properties have so far been sold to 73,103 foreigners, with German, British, and Greek citizens being the leading purchasers of Turkish property.

Foreign investors’ annual real estate purchases amounted to $3 billion for the past three years, accounting for about 8.5% of the current account deficit.

"We believe that the government will take this issue seriously and is likely to pass the necesssary legislation through the parliament. However, the timing remains uncertain and the impact on the financing of the current account deficit should be negative in the near term," Raymond James Financial said in a research report on Wednesday.


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Monday 7 April 2008

Net Yield 11.62% Residential Investment in Thuringia(Germany), 1.6 Mio. Euros

2 Apartment blocks, 43 (out of 64 condominuims / apartments) and 20 apartments completely. A 1972 building modernised in 1997. near the A9 autobahn and the cities Gera and Jena.
Net rent 185,927 Euro (currently 5 apartments vacant). New price 1,600,000, net yield 11.62% (440 Euro/sqm)

Please order detailed in formation at www.properties-in-germany.de



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Wednesday 2 April 2008

German Jobless Falls to 15 1/2-Year Low

German Jobless Falls to 15 1/2-Year Low; Italy Slows (Update1)

By John Fraher

April 1 (Bloomberg) -- German unemployment fell to the lowest since 1992 in March and manufacturing accelerated as Europe's largest economy helped the region cope with a global credit squeeze and weaker growth in Italy and Spain.

Germany's jobless rate declined to 7.8 percent from 8 percent in February, the Federal Labor Agency said today, and a Royal Bank of Scotland Group Plc index of German manufacturing rose to 55.1 this month from 54.3. Italian manufacturing contracted for the first time in three years and an index of Spanish factory activity was the weakest since December 2001.

German exports and corporate investment are helping to shore up growth across Europe as Italian manufacturers struggle to cope with a stronger euro and falling property prices curb growth in Spain. ...

Property Slump

``Germany and other northern European countries continue to see surprisingly strong performance in the face of current headwinds, while Mediterranean countries show a continuation of a worrying downtrend, especially Spain,''' said Royal Bank of Scotland chief euro-region economist Jacques Cailloux in an e- mailed note.

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Commentary

In the current situation with the aftermath of the subprime crisis originating in the US it seems a blessing that the German property market was not part of the property bubble of the last decade. There is solid development and opportunity for lucrative investment. The latest mega deal of Lone Star buying a portfolio of 1,300 properties from Deutsche Post shows the confidence of the financial sector in the German real estate market.

There are investments available at all levels. From a Buy to Let Investment Apartment at 40,000 Euro to apartment blocks between 600,000 Euro and 1.5 million Euro to mega deals.

Some of these you can find at www.Properties-in-Germany.de

Uwe Falkenberg


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