The Germans are buying up gold and real estate

27.07.2011 16:50
Articles about real estate | The Germans are buying up gold and real estate Concerns about the prospects for the European single currency forced the Germans to invest in real estate and precious metals, according to radio station Business FM.

During the month of gold increased in price by 8%. In Germany, demand is growing even faster. To order the gold in the bank, in small towns have written to the queue.

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A resident of Bavaria, Thomas Bauer, said the radio station: "Now I'm not so sure. Many countries have debt problems the euro area - Greece, Portugal, Ireland and Italy already, one of them. So I think that must somehow save your money. For example, investing in gold. Gold is gold throughout history. And it keeps going up. I think the gold - the material, and will always remain so. A piece of paper, what still is the euro, may disappear, so I decided to gold invest. "

Germans go out of the euro in real estate. Buy it became much harder than six months ago. Many owners refuse to sell land or apartments - do not want to go into the cache, the prospect is not clear, expert says the German Council on Foreign Relations, Alexander Rahr.

"The real estate market here is very stable - and in Berlin and other German cities - Rahr develops his idea. - Better to have today, real estate, property - rather than hot money, which, indeed, may lose value. With the money it is not clear what to do. Make them to the bank - has absolutely no cost, even a big mistake, because the banks give a very small percentage. The only way out, and everyone is talking about it - this or property - or buying gold. I've already invested in real estate in the heart of Berlin and, therefore, must now do everything to keep this property, although it is not quite easy, because you have to pay the same debt - loans the bank, for which the flat was bought. "

In 2010 the volume of money savings Germans grew by 5% and reached a record EUR 5 trillion. Now they have to - according to many - to translate into ingots, square footage and antiques. Well, or, at worst, the Swiss franc. 
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