Brits move to Germany 'for work reasons'

Property investment in Germany usually comes from people who are looking to move there for work reasons, an expert said this week.

Nick Barnes is a partner of international residential research at Knight Frank and commented on the state of the country's market during the ongoing global economic slowdown.

He said the German property industry has not felt the same impact as the UK and prices have remained "pretty flat" for the past ten years - which could be good news for those looking at making their cash go further as foreign currency.

But those who decide to take advantage of this and move there are likely to be doing so for work-related reasons "rather than wanting to live there", he added.

Those who do not are probably purchasing property in Germany for "investment play", according to Mr Barnes.

"They will buy in western Germany - in the major cities with probably a good mix of tenants - so people from the business world and students etcetera."

Knight Frank is a global company specialising in both residential and commercial sites.