Hammering down prices
in Germany
Despite the recent falls in UK house prices, the average cost is still around £200,000 in (£350,000 in London).

Therefore paying £14,000 for a 20-bedroom guesthouse with two bowling alleys may seem like an elaborate April fools joke.

Yet across Germany a range of huge properties, from detached houses to converted barns and mills, are being auctioned for less than £20,000.

Property auction expert Andrew Binstock of SKB Auctions said:

“There are huge properties all over Germany being auctioned for small sums of money. One semi detached building with three flats going up for auction next month with no reserve price. If only one person bids £10 that’s what it could go for!”

Among recent properties that have been put up for auction include:

• 20 bedroom guesthouse, numerous function rooms and two bowling alleys. Located in a small town near the Czech border in an attractive cobbled square. Guide price £14,000+

• Detached mill building with two apartments and storage rooms located in Saxony, surrounded by lakes in an area of outstanding natural beauty. Guide price £15,000+

• Detached house arranged as four self contained flats. Situated in the centre of the village of Lenne, nestled in the valley mountain ranges. Guide price £16,000+.

Binstock adds: “Many of these properties are located in east Germany – an area which most of us normally associate with the cold war, industrial factories and the Berlin wall. In fact many of these properties are located in areas of outstanding natural beauty. For £200,000 most would struggle to find a one bedroom apartment in London – at these rates you could practically buy a village”.

Out with the old and in with the new for Italian investors
Italy is often associated with prestigious buildings steeped in history with very little attention being given to new build properties.

Fly to let investors could therefore be attracted to ‘Montecolo’, a select development of 100 one- and two-bedroom apartments in Lake Garda.

Montecolo is a gated complex in some 33,000 sqm of grounds, close to the Porto Dusano at Manerba del Garda, with its panoramic views over the Lake.

Purpose built amenities include an on site reception with in house manager to handle lettings. There are three swimming pools all interlinked by waterfalls getting progressively deeper, children’s pool, communal games room and a children’s play area.

Sarah Ferrara, managing director of Garda Homes said: “In such a beautiful location investors who wish to step on to the rental market can expect to achieve as much as £800-£900 per week in the high season for a 2 bedroom apartment.”

Prices at Montecolo start from £175,000 for a one bedroom and rising up to £275,000 for a superior two bedroom. All deposits paid prior to completion are covered by bank guarantee and the properties come with a 10 year insurance policy similar to the UK’s NHBC.

© Fly2Let.net Ltd 2010 l Terms of use l Contact l Free Subscription l Webmaster
Brazil l Bulgaria l Canada l Cape Verde l Croatia l Cyprus l Dubai l Egypt l France l Germany l Hungary l India l Italy l Morocco l Portugal l Romania l Slovakia
South Africa l Spain l Thailand l Turkey l UK l USA l Other Countries
Investment Property l Off Plan Developments l Ski Property l City Apartments l Golf Property l Beach Front Property l Land Investment
Cheap Flights l Car Hire l Property Finance l Property Insurance l Travel Insurance l Property Maintenance l Overseas Removals l Currency Exchange l Exhibitions & Seminars