Behind the Bricks: A Glimpse of Germany’s Real Estate Market
October will provide Education Pathways own Octoberfest with four posts that focus on the professional life of realtors in Germany.
Why Germany? Or, as the Germans might say, “Warum Deutschland?”
I lived in Germany at the house pictured above for two years at 89 Biebericher Allee, a major road in Wiesbaden that runs from Ringroad near the central railroad station at the north end and south through the town of Biebrich. Like many Americans in the region, I was there as a military wife living in an apartment that was carved out of an imposing home. That was long ago before even a thought of online classes, real estate agents, continuing education or professional development had even entered my mind.
In the present-day timeframe of Education Pathways, the issues of realtors, especially continuing education, is top of mind. There are approximately 11,000 Immobilienmakler (realtors) in Germany compared to more than 3 million licensees in the United States. Despite the contrast in the number of licensees, the real estate market in Germany is generally considered to be robust and has historically been known for its stability. It weathered the global financial crisis of 2008 relatively well compared to many other countries, which made it an appealing destination for investors seeking stability.
Like the United States, the German real estate market consists of various property types, including residential, commercial, and industrial properties. It is segmented by type (villas, houses with land, condominiums and apartments) and key cities (Berlin, Hamburg, Cologne, Munich, and the Rest of Germany). Like many other countries, Germany has experienced urbanization, with more people moving to cities. This has driven demand for housing in urban areas.
Next week: Behind the Bricks: A Glimpse of Germany’s Real Estate Rules