• Germany's news in English
 

North Sea island is jewel in German house market

Published: 07 Jun 2012 15:24 GMT+02:00

Sylt, the largest of Germany's North Sea islands, is famed for its sandy beach and has been a go-to destination for the upper classes for decades. Nestled into the island's dunes are the country's most expensive houses, some setting a buyer back several million euros.

According to Engel&Völkers, a luxury property agency, snaring one of the sought-after, thatched roof cottages that dot the island is no mean feat – requiring piles of cash and a stroke of luck.

Prices remain high on the island as there simply are not enough houses to go around and those who have one, tend to hang onto it.

Company analysts examined market trends for 2010 and 2011, to see where Germans were paying the most money for a swanky house. For their purposes, a property was deemed “luxury” if cost more than three times of the average price in the area. This also had to be over €5,000 per square metre.

“The top prices quoted are not representative of the market in general, nor do they reflect price trends for residential property in other locations,” head of residential property Kai Enders said in a statement.

The same analysts also found that luxury property prices had clearly increased over the past few years, both in Germany and in popular holiday destinations such as Italy and southern France. At the very top end, the price-tags on some properties had even increased by 60 percent.

In Berlin, price per square metre may be less than in the country's fancier provinces but for a city hailed for its cheap living, some buyers with deeper pockets than most are starting to cough up €15,000 per square metre for a new-build flat in the city centre.

This is around three times more than it was just a few years ago, when paying €5,000 per square metre would have been considered extravagant.

Other sought-after locations such as on the banks of Alster Lake in Hamburg and the environs of the English Garden park in Munich, are experiencing a similar price boom, as are several popular holiday spots.

“We are anticipating that prices in the best locations detailed in our survey will continue to rise,” said Enders. He added that there was still, “a great deal of upward scope if one considers top locations abroad.”

The Local/jcw

The Local (news@thelocal.de)

Your comments about this article

10:43 June 8, 2012 by BobbyBaxter
Good to hear that house prices in Germany are on the up. I brought a flat in Berlin a year ago and it is nice to know that it appreciating in value.
Today's headlines
'Blackfacing' is Anglicism of the Year
They may be collecting for charity, but this is not really OK. Photo: DPA

'Blackfacing' is Anglicism of the Year

"Blackfacing", used by Germans to describe white people painting their skin dark to mimic black people, has been named Anglicism of the Year by a jury of linguists. READ  

Cocaine-cop trial shakes Bavarian Alps
File photo: DPA

Cocaine-cop trial shakes Bavarian Alps

For 20 years no-one noticed that the head of the drug squad in Kempten, Bavaria, was on a personal rampage of narcotics- and domestic abuse - until his wife shopped him for the €250,000 brick of cocaine he had stashed. But the local population isn't buying the story. READ  

Merkel wishes Tsipras 'strength and success'
Photo: DPA

Merkel wishes Tsipras 'strength and success'

Chancellor Angela Merkel congratulated Greece's new Prime Minister Alexis Tsipras on Tuesday and wished him "much strength and success" after his anti-austerity party's election victory. READ  

Refugees suffer over 200 attacks in 2014
Swastika graffiti at a refugee home in Bavaria with text reading "No asylum seekers". Photo: DPA

Refugees suffer over 200 attacks in 2014

Refugee NGOs' first annual report on violence against asylum seekers found that there were over 200 attacks on people and accommodation in 2014. READ  

'No German identity without Auschwitz'
President Gauck addressing the Bundestag on the 70th anniversary of the liberation of Auschwitz. Photo: DPA

'No German identity without Auschwitz'

President Joachim Gauck on Tuesday warned Germans against drawing a line under the Holocaust as the Bundestag (parliament) opened a day of commemorations on the 70th anniversary of the liberation of Auschwitz. READ  

Handball! Neuer blows whistle on wax double
Manuel Neuer at the inauguration of his double in Berlin. Photo: DPA

Handball! Neuer blows whistle on wax double

Madame Tussauds' hottest new effigy was unveiled to the public in Berlin on Tuesday, costing a euro for each of the 150,000 hairs on keeper Manuel Neuer's head. Pity about the handball goal frame though… READ  

Railway union threatens strike over €2
EVG members outside a station during a 2013 strike. Photo: DPA

Railway union threatens strike over €2

As railway operator Deutsche Bahn (DB) continues negotiations with train drivers' union GDL, its other major union EVG has threatened a strike over pay differences between employees. READ  

Dresden tolerance concert draws 22,000
Photo: DPA

Dresden tolerance concert draws 22,000

As Pegida supporters and opponents clashed in Hanover, musicians threw a free concert in central Dresden on Monday evening to show another side to the city famous for spawning the anti-Islam movement. READ  

Germany remembers horror of Auschwitz
"Work will set you free," the gate at Auschwitz-Birkenau tells inmates. Photo: DPA

Germany remembers horror of Auschwitz

Chancellor Angela Merkel joined survivors of the Auschwitz-Birkenau concentration camp in Berlin on Monday to open a series of events dedicated to the end of the Holocaust camp regime 70 years ago. READ  

JobTalk Germany: Entrepreneur series
'Work I love and a rewarding family life'
Working mum photo: Shutterstock

'Work I love and a rewarding family life'

Melanie Fieseler is a British business/career consultant and coach, and founder of Berlin-based WorkSmart. She is on a mission to help ambitious mums like herself successfully combine motherhood with building a fulfilling and rewarding career or business. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Business & Money
FATCA: 'The age of financial privacy is over'
Gallery
The best regional foods TTIP opponents want to protect
Photo: DPA
Features
The rise and spread of Pegida
Photo: Shutterstock
Culture
This cosplayer did not think his plan through
National
Europe in statistics - from Spain to Sweden
Photo: DPA
Politics
The Local's report from Pegida's largest ever demonstration.
Sponsored Article
Top-notch tech boosts bilingual schools
National
Six stories that will rock Germany this year
Photo: DPA
National
Terror alert at a new high. Should you be worried?
Dresden skyline and river by night. Photo: DPA
Politics
What does Dresden have against Muslims?
Photo: DPA
National
What were your favourite news stories of 2014?
Gallery
Top 12 German idioms
National
Why has The Local got a new logo?
Photo: DPA
National
This German was abducted and tortured by the CIA
Culture
10 top tips for partying in Germany
Photo: DPA
Technology
What does the Chancellor see as the future of the internet?
Photo: DPA
Berlin
The Local's series on 25 years since the fall of the Berlin Wall
Photo: DPA
Business & Money
JobTalk: All you need to know about working in Germany
National
Share news tips with The Local Germany
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

3,420
jobs available
Toytown Germany
Germany's English-speaking crowd