Until recently, it was believed that the wave of interest in cheap East German real estate from suddenly wealthy Russians would trigger a surge in prices for properties in Berlin, Leipzig, or Dresden, but these hopes did not materialize. As Metrinfo.Ru notes, prices in the former GDR are rising by 1.5-3% per year. Only Berlin showed 2.5% growth in the first three months of 2008.
As it turned out, even among Russian buyers, interest is predominantly in residential real estate in Munich, Cologne, and Baden-Baden, despite the fact that an apartment in Munich or Baden-Baden can be bought for €200–400 thousand, while in Berlin the same apartment would cost from €100 to 300 thousand.
Real estate prices in Berlin can be compared to prices in a provincial city in the west of the country: the average price barely exceeds €1,000 per square meter. As for West Germany, the most expensive city is Munich – there, in the capital of Bavaria, the average real estate price is from €4,000 per square meter.
Slightly cheaper are Cologne, Frankfurt, and Stuttgart – €2-4 thousand. They are followed by Bonn, Hamburg, and Düsseldorf – €2-3 thousand per meter. In the provinces, there is also a large spread in real estate prices – from €800 to €2,000 in the east of the country and from €1,300 to €3,500 in the western states.
By the way, buying real estate is one thing, but keeping your property safe and sound is another. Modern conditions require a more responsible approach to ensuring the security of your villa, dacha, or apartment. And a good help in this can be electromechanical locks, whose sale is also set up on the Internet. Specialized firms will help you not only choose the right electromechanical lock but also install it properly.
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