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Berlin catching the eye

Growing economic prosperity and reasonable prices are drawing more foreign property investors to the German capital.

According to the Guardian, a surplus of cheap properties coupled with the German tendency to rent rather than buy, makes Berlin an ideal destination for buy-to-let investment.

Julian Power, of Berlin Capital Investments, told the paper that rental returns in the city were better than most other European capitals.

"If the overseas investor chooses to buy direct from the developer or owner," he said, "he will get a package with a four per cent rent guarantee.

"If he buys through an estate agent or property broker, he can get eight per cent yields in the less fashionable areas and six per cent in smarter districts."

The city's stunning architecture and rich history have resulted in its status as the third most visited tourist destination in the European Union.

With one-bedroom apartments available for as little as £30,000, investment in this leading European city could prove very lucrative.

London businessman Francis Pike related his successful investment to the paper:

"Berlin's had a long, hard struggle, but a younger, more go-ahead element is moving in. The city centre is getting busier and the shops are starting to fill up.

"Two years ago, my friends said I was bonkers to buy in Berlin. Now they are asking for price lists."

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