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German house prices - how it should be
Topic Started: 30 Sep 2014, 11:17 PM (7,285 Views)
peter fraser
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ThePauk
3 Oct 2014, 10:56 AM
Numbeo whilst interesting is a bit loose with it's data collection method - it's all done by volunteers with little or no qualification.

But lets look at what you have shown us.

Country data
(source CIA, 2013)

GDP Per Capita (PPP) ($) : Germany 39,500.00 Australia 43,000.00
GDP Growth Rate: Germany 0.50 Australia 2.50
Population Growth Rate: Germany -0.18 Australia 1.09

So Australians are more productive in $ terms than the mighty Germans - that will astound some people.

Overall Germany is a little better than Australia but not that much considering their anti landlord regulations and negative population growth. Note how your own reference source puts the Growth rate in Australia to be 1.09% and Germany to be negative 0.18%

Perhaps now you should accept that you may have been wrong on that growth rate in Germany.

http://www.numbeo.com/property-investment/compare_countries_result.jsp?country1=Germany&country2=Australia

Going back to an earlier point of mine - Brisbane is indeed better than Berlin in terms of price to income.

http://www.numbeo.com/property-investment/compare_cities.jsp?country1=Germany&city1=Berlin&country2=Australia&city2=Brisbane&displayCurrency=AUD

Price to rent - rental yields - everything really.

Now you did mention that Munich was the highest price city so perhaps we should compare Munich to Sydney. What we find using the data source that you are now quoting is that when we compare the most expensive city in Australia to the most expensive city in Germany, Sydney wins against Munich hands down in every department.

http://www.numbeo.com/property-investment/compare_cities.jsp?country1=Germany&city1=Munich&country2=Australia&city2=Sydney&displayCurrency=AUD

I just know that you will want to thank me for pointing these facts out to you.

Sydney is also only about half as expensive as London and about on par with New York. Personally I would prefer NYC but that's personal preference.

.
Edited by peter fraser, 3 Oct 2014, 02:13 PM.
Any expressed market opinion is my own and is not to be taken as financial advice
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skamy
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ThePauk
2 Oct 2014, 05:45 PM
Veritas
Correct, German banks will only lend to approx a 70% And getting a mortgage is avery difficult task.
So you think that is a good thing. Keeps the plebs out of housing so investors can charge huge rents?
peter fraser
3 Oct 2014, 02:11 PM
Numbeo whilst interesting is a bit loose with it's data collection method - it's all done by volunteers with little or no qualification.

But lets look at what you have shown us.

Country data
(source CIA, 2013)

GDP Per Capita (PPP) ($) : Germany 39,500.00 Australia 43,000.00
GDP Growth Rate: Germany 0.50 Australia 2.50
Population Growth Rate: Germany -0.18 Australia 1.09

So Australians are more productive in $ terms than the mighty Germans - that will astound some people.

Overall Germany is a little better than Australia but not that much considering their anti landlord regulations and negative population growth. Note how your own reference source puts the Growth rate in Australia to be 1.09% and Germany to be negative 0.18%

Perhaps now you should accept that you may have been wrong on that growth rate in Germany.

http://www.numbeo.com/property-investment/compare_countries_result.jsp?country1=Germany&country2=Australia

Going back to an earlier point of mine - Brisbane is indeed better than Berlin in terms of price to income.

http://www.numbeo.com/property-investment/compare_cities.jsp?country1=Germany&city1=Berlin&country2=Australia&city2=Brisbane&displayCurrency=AUD

Price to rent - rental yields - everything really.

Now you did mention that Munich was the highest price city so perhaps we should compare Munich to Sydney. What we find using the data source that you are now quoting is that when we compare the most expensive city in Australia to the most expensive city in Germany, Sydney wins against Munich hands down in every department.

http://www.numbeo.com/property-investment/compare_cities.jsp?country1=Germany&city1=Munich&country2=Australia&city2=Sydney&displayCurrency=AUD

I just know that you will want to thank me for pointing these facts out to you.

Sydney is also only about half as expensive as London and about on par with New York. Personally I would prefer NYC but that's personal preference.

.
Good researching Peter very interesting.

it just goes to show that The most expensive German city is more expensive by any measure than that of Sydney. Yet the Average Monthly Disposable Salary (After Tax) in Sydney is $4,714.56 compared to only $3,281.90 for Munich. Germany is a flat market no doubt about it so people who think Sydney has no room to grow need to look at these figures. It has some way to go to catch up with Munich a supposed bear paradise.
Edited by skamy, 3 Oct 2014, 03:30 PM.
Definition of a doom and gloomer from 1993
The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
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miw
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ThePauk
2 Oct 2014, 10:05 PM
Yep, a new unit.
can you find me a new unit in Sydney that is approx the same specs and price?
It's in friggin' Kreuzberg for heaven's sake. That's the Berlin equivalent of Cabramatta, except more violent.
The truth will set you free. But first, it will piss you off.
--Gloria Steinem
AREPS™
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