Englishmen may see themselves as king of their own castles, but the fact that Europe largely did away with its monarchies many years ago does not necessarily explain why those on the Continent are happier to rent, even if the situation is starting to change.
Germany has the greatest proportion of home-renters in Europe, and Germans still prefer to rent accommodation rather than own it. Only 39 per cent of the population own the homes that they live in compared with about 60 per cent in Britain. But that pattern is changing. Berlin is experiencing a boom in property buying: hundreds of recently renovated, turn-of-the-last-century apartments are being snapped up by wealthy Germans. (more)
(RTTNews) – The German economy logged robust expansion in the first quarter, lifted by a recovery in investment after harsh winter and strong domestic as well as external demand.
The biggest Eurozone economy expanded 1.5 percent in the first quarter from the previous three months, the Federal Statistical Office said Tuesday, in line with the initial estimate published on May 13. The sequential growth rate accelerated sharply from the 0.4 percent expansion seen in the fourth quarter.
It’s a hard thing to admit, but while we Brits are struggling to pull ourselves out of austerity, Germany is booming.
Germany’s gross domestic product rose by 1.5% in the first quarter of 2011 and is forecast by the International Monetary Fund (IMF) to rise by 2.5% in 2011 as a whole. The UK, by contrast, grew by 0.5% in the first quarter and is expected to grow just 1.7% for the year.
So how is it that the German economy has managed to shrug off the effects of the global financial crisis, while the UK’s is still mired in debt, low growth and high unemployment? (more)
The first thing that comes to an engineer’s mind when thinking about Germany is the huge automobile industry. Surely, the Germans have been the pioneers in many technologies concerned with cars. On Monday, Germany took another giant forward stride in this field by unveiling the government’s ambitious but achievable plan of replacing all the gasoline driven cars by electric vehicles by the end of 2030. The idea sounds great and has earned accolades from all the corners of the world. However, at present, there is hardly anyone using electric cars in the country. To make the fact clearer, consider the statistic that in a nation with 40 million cars, only 3000 to 4000 cars are running on electricity. This fraction seems to be negligible and proves to be a stumbling block in the project.(more)
The components of the European markets continue to diverge and are reflected in the strength of the German economy relative to peripheral economies. Yesterday’s economic data displays the overall strength of the German market. German exports surged above their pre-crisis level to set a record after rising more The rapid rise of export growth highlighted the strength of Europe’s largest economy. Germany’s growth spurt should help boost the overall euro zone performance, but most will observe a Europe that has weak performance in countries such as Spain, Greece, Portugal and Ireland.(more)
BERLIN — German exports surged 7.3 during March to their highest value since records started being kept in 1950, rounding off another strong quarter for Europe’s biggest economy, the Federal Statistical Office said Monday.
Germany, one of the world’s biggest exporters, sold goods and services beyond its borders for a total of euro98.3 billion ($141 billion) in March.
Overall exports were up 15.8 percent in year-on-year terms, the Federal Statistical Office said. Germany’s deliveries to other countries in the 17-nation eurozone were up a slightly more modest – but still healthy – 14.2 percent to euro39.7 billion.
German industrial production rose for a third month in March as construction surged, adding to signs Europe’s largest economy gathered strength in the first quarter.
Output increased 0.7 percent from February, when it rose 1.7 percent, the Economy Ministry in Berlin said today. Economists had forecast a gain of 0.5 percent, the median of 21 estimates in a Bloomberg News survey showed. In the year, production rose 11.2 percent when adjusted for working days.(more)
“The project is part of our plan to continue expanding our supply in high-end residential real estate in the upper price segment,” said Florian Lanz, CEO of Estavis. Following in the wake of the Glanzfilmfabrik project in Köpenick, this is the next major venture of Estavis that involves a protected monument. “Indeed, we intend to keep acquiring large brownfield properties in the future,” stated Lanz
“A decisive factor for us in this part of town with its positive growth aspect was the central location. Alexanderplatz, Berlin’s Mitte district, as well as Prenzlauer Berg, are all just minutes away,” Lanz went on to elaborate. The positive development of Friedrichshain was also confirmed by independent market observers: The latest Housing Market Report issued by the consultancy firm CB Richard Ellis and the housing company GSW identifies Friedrichshain-Kreuzberg as one of Berlin’s up-and-coming boroughs. According to the report, rent rates in this borough are the second highest in Berlin, while the IVD Real Estate Federation has reported a steady increase in demand for apartments. (more)