Germany may soon compete with London on the international real estate arena. Analysts at global real estate advisor Knight Frank, found that ultra-high-net-worth investors are increasingly interested in cities such as Berlin and Munich, which have seen a marked increase in activity in the last year.
House prices in Ireland leapt by 16% in 2014, putting it at the top of Knight Frank’s global house price index – but the market remains a long way off its pre-crisis peak.
We anticipate a growth in the owner-occupier housing market in 2015. The positive factors such as a further economic recovery, high consumer confidence, falling mortgage interest rates and the substantial number of new homes sold will be strong enough to compensate for the negative factors, such as ending or scaling back stimulus measures, the negative equity problem and credit-restricting measures. We anticipate a rise in the number of sales in 2015 to between 150,000 and 170,000, following 153,000 sales last year. The average house price index is expected to rise in 2015 by between 1 and 3% compared to a rise of 0.9% in 2014.