‘The gold-digger mentality is gone, with people buying silly things for silly money’
The largest price declines compared with the same quarter of the previous year were logged in cities that have noticed the sharpest rises in the last decade: Berlin, Hamburg, Munich, Cologne, Frankfurt, Stuttgart and Düsseldorf. Here prices for semidetached houses fell by 10.4 per cent, while apartment prices are 6.4 per cent down on average.
“The gold-digger mentality is gone, with people buying silly things for silly money,” said one western Berlin agent. “But good properties in good areas and a sensible layout will still find a buyer, and there are a lot of cash buyers out there.”
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