Fly-to-let buyers set to flock to Berlin for guaranteed rentals

With its recovering economy, growing consumer and business confidence and strong rentals market, Germany is set to become one of 2007’s property hotspots for overseas investors.

With the German heritage of opting to rent rather than purchase properties changing, and just 12% of Berlin’s residents currently owning their property, the time is now ripe for prospective buyers to invest in properties in Berlin.

To meet the demand from buyers looking to invest in Germany and to help them take their first step on the German property ladder, MRI Overseas Property is collaborating with developers who are currently offering guaranteed ten-year rental contracts for selected properties in its new portfolio of Berlin properties, launched by the overseas property specialist this week.

Most prospective buyers will look at properties with tenants already in residence. This is for added financial piece of mind about their overseas purchase.

Berlin’s property market is well-suited towards UK ‘fly to let’ investors, who look for buy to let investments abroad to take advantage of overseas property markets. This is due both to the rentals potential of the German capital’s properties and also the raft of low fares flights from the UK to Germany introduced in the past few years.

Prospective buyers can take advantage of MRI Overseas Property’s portfolio of re-sale and new development properties in Berlin from January 2007. MRI Overseas Property will launch properties in further regions of Germany later in 2007.

Opting for an investment property in Berlin also offers easy access back to the UK and Ireland with its wealth of flights via low fares airlines and the bustling, 24-hour city offers something for everyone in terms of entertainment.

Schöneberg, Berlin

A five floor residence located in one of the most desirable areas of Berlin and overlooking a beautifully maintained communal garden area. The apartments are situated just a few minutes drive from the world famous Kurfürstendamm shopping area and within walking distance of the Metro. The management company is additionally offering investors 10 years’ free maintenance and rental service on these properties.

1, 2 and 3 bedroom apartments are available with prices starting at £42,834 (€65,000).

Shoelerpark, Berlin

Located alongside the Shoelerpark, this development of newly refurbished city apartments is situated right in the heart of Berlin. The management company is additionally offering investors 10 years’ free maintenance and a guaranteed ten-year rental contract on these apartments.

One bedroom apartments available from £52,880 - £67,217 (€80,245- €102,000).

Rolf Christensen, European Sales Director, MRI Overseas Property, said: “Berlin is one of Europe’s largest cities alongside London and Paris, yet its property prices are significantly lower than comparable properties in the British and French Capitals.

“We believe Berlin offers a significant opportunity for property investors as we forecast a solid return on investment as a result of the strong rentals market and expected capital growth.”