Germans are buying up gold and real estate

Posted on Apr 30, 2012

Concerns about the prospects of the single European currency forced the Germans to invest in real estate and precious metals, according to radio station Business FM.

A month gold price increased by 8%. In Germany, the demand is growing even faster. To order the gold in the bank, in small towns have to take turns.

Bavaria resident Thomas Bauer said the radio station: “Now Im not so sure. Many countries have debt problems of the eurozone – Greece, Portugal, Ireland and Italy already, among them. So I think that I have to somehow save their money. For example, to invest in gold. Gold is gold throughout history. And it keeps getting more expensive. I think gold – financially, and will always remain so. A piece of paper, what are all the same is the euro may disappear, so I decided to gold invest. ”

Germans left the euro and in real estate. Buy it was a lot harder than six months ago. Many owners refuse to sell the land or an apartment – do not want to go into the cache, the outlook is unclear, the expert of the German Council on Foreign Relations Alexander Rahr.

“The real estate market is very stable – and in Berlin and other German cities – Rahr develops his idea. – It is better to have today, real estate, property – rather than hot money, which, indeed, may lose value. Money is not clear what to do. Submits them to the bank – it is absolutely not cost even a big mistake, because the banks give a very small percentage. only way out, and this is all they say – or a property – or buying gold. I have invested in real estate in the center of Berlin, and, therefore, must now do everything to keep this property, although it is not quite easy, because you have to pay a debt – a loan to the bank, for which the apartment was bought. ”

In 2010 the amount of cash savings of Germans rose by 5% to a record 5 trillion euros. Now they need to be – according to many – to translate into bars, square footage, antiques. Well, or, at least, to the Swiss franc.