Ralf Derenthal has been in the business long enough to recognize a good deal when he sees one.
That is one reason why the asset manager is looking to buy an apartment in one of Berlin’s trendiest districts. “In 10 years, I can sell it tax-free and will benefit from a great increase in value,” he said in an interview.
Mr. Derenthal, who comes from a town near Düsseldorf and lives in Berlin, is one of many Germans who are looking to park their assets in real estate.
Germany tends to be a country of savers, low-risk takers and reluctant investors. But near zero interest rates are eating into savings at a time when a sound economy is boosting disposable incomes.
Many people, to prevent their savings from being eroded by inflation, are investing – more than before.
Consumer confidence measured by German market researcher GfK rose to a 13-year high in February. Germans are upbeat about their country’s chances and their personal economic futures. The last time optimism was this high was in 2001, shortly before the dot.com company boom imploded.