Jefferies Research - Germany: A Budding Real Estate Boom
Germany: A Budding Real Estate Boom [Sean Darby, Kenneth Chan, Irene Zhou]
A combination of firm wage growth, negative bund yields, dormant inflation and a booming current account surplus is allowing the German real estate market to reflate. In comparison to Western markets, the German property market starts from a much lower base and also relatively favorable price comparison. We are bullish on the real estate sector as well as the DAX.