Achim Amann, CEO and co-founder of Black Label Properties, said, “The purpose of this meet is to visit our clients from Oman and those who have properties with us in Berlin. We have seen a significant increase of clients from Muscat. The other purpose is to invite people to buy properties in Germany.”
Amann informed that Berlin currently has the fastest rising property prices in the world. “We want to help people find out more about the Berlin property market, lifestyle and luxury sector. We are keen to meet with local businesspeople, investors, entrepreneurs and families who would like to learn more about the Germany property market and how to make it work for you. We have affordable property rates, low-interest rates, and high rental yield.”
He said that Berlin has a housing shortage which means there is a huge demand for rental property, driving an increase in rent and real estate prices.
Berlin has been named the top market for real estate investment and development three years in a row in a report by PricewaterhouseCoopers and the Urban Land Institute. The city ranked first not only for investment but also for development and prospects for rental and capital growth, he said.
Black Label Properties is among Berlin’s top international estate agents and offers a one-stop-shop to help individuals, investors and companies find the right investment in Germany. With over 30 years of experience in the real estate market, Black Label Properties was voted as the most reliable estate agent for eight years in a row. It had reported annual sales volume of US$30mn in 2017. Commission/ turnover is estimated at US1.4-1.5mn.
Amann said the company already has 200 clients from the Gulf region and Omanis top the list in investment in properties in Berlin, the biggest city in the country with a population of over 3.4mn.
It has some of the best education, healthcare and welfare facilities. He said that there has been an investment of over US$1bn in 2017.
With the highest GDP among Western European countries, Germany has registered economic growth for the eighth year in a row, confirming its status as one of the strongest economies worldwide and attracting further investment.
Despite an average ten per cent annual increase over the past decade, purchase prices in Berlin are still below other large German cities as well as major European destinations, suggesting that there is still room to grow. As indicated by the vacancy rates, the demand is high and the supply is increasingly insufficient.