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Historical tourist attractions: The Charlie check point( Left) and the Berlin Wall( Right).
Schulten believes that Middle Eastern investors would be a good fit for Berlin’ s real estate landscape. He is currently handling the first requests for joint venture investments from the Middle East from pioneers looking to invest in cities less obvious than London.
“ There is a benefit for both,” he explains- noting that the Middle Eastern investor typically has more equity at his disposal, is not committed to answering to other investors and, importantly, has time on his side. American and UK hedge funds expect high leverage and are committed to certain time frames due to their financing.
Schulten adds that, in comparison to London, the Berlin property market offers a greater yield. A typical“ trophy” property in London will have a 2 % yield. A similar property in Berlin has a 5 or even 6 % yield. This also applies to the whole range of property types, from trophy through to core. In Schulten’ s opinion, Berlin is the perfect starting point for Middle Eastern investment.“ It’ s the capital,” he states.“ Investors need a sure start and the conditions are pretty ideal.”
giving way to a more stable and affluent metropolis. Berlin has always been a city of change, continually reinventing itself. The coming ten years will be no different.
Reinventing itself. The coming ten years will be no different.
• Berlin- Johanna Whelehan
Opportunists were deterred by the fact that a building owner may not, without significant tax loss, resell a building within ten years of buying it
Deutscher Dom, Berlin
Demand has increased so much over the last decade that Schulten does not predict a further increase, rather a levelling off. Berlin’ s“ arm aber sexy”- poor but sexy- reputation, though once well deserved, is
The Victory Column, Berlin
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