Boom for the Baltic and North Sea
(Holiday Real Estate Advisor)

According to the research of the Dresden’s Bank the holiday areas at the North and Baltic seas are before a new boom stand. “We experience a wave of the investments in holiday real estates”, said the real estate expert of the Bank of Dresden, Thomas Beyerle, to the German pressing agency in Hamburg.

Thus it would give over 15 holidays real estate projects in planning and building at the Baltic Sea coast between Luebeck and Rügen at present. In each case in each real estate project would develop between 20 and 100 vacation homes. The main beneficiary is thereby Mecklenburg Vorpommern. According to Th. Beyerle’s words “Most investment capital flows to Mecklenburg-Western Pomerania with holiday real estate”. Nowhere otherwise more holiday houses and vacation homes were planned and built.

As the real estate specialist of the Bank of Dresden confirmed the prices for free standing holiday houses at the North and Baltic Seas would have moved upward in the past years. On the contrary, the prices for vacation homes would stagnate particularly in the west of the republic. And also first of all it would affect the vacation homes as in this case they would be modernized, especially those that have been built several decades ago. The Baltic Sea coast by Mecklenburg-Western Pomerania infrastructure was only renewed after the reunification or even only created, so the many holiday houses and vacation homes in the west that are 30 – 40 years old need being modernized. And it is not only because they have been in use all this time, the requirement now are higher than they were 40 years ago. Nowadays many users and tenants do not want little kitchens for cooking any more, they wish want fully furnished and functional kitchen. This is applied equally to other housing comfort.

Many owners would switch in the meantime renting offices in order to avoid longer empty conditions of the real estates.

25.09.2007