The real estate market is rather slow, and has been rather flat over the past 10 years, but at least we didn't get the bubble,' says Andreas Meyer-Vonreich, executive director of the German Chambers of Commerce in Germany. So while Berlin Property are contemplating rapid declines in the value of their biggest asset, German families are safe.
In a statement from their representatives the McEvaddys said they planned to build retail units, offices, a hotel and residential buildings. Construction is due to start next year and will take 9 nears to complete.
'Germany has completely missed the property in Berlin boom. It has missed out on a lot by having this fairly restrictive property market, but now, in times of financial uncertainty, it's helping Germany, and stabilising the eurozone as a whole,' says Katrin VonRobeck of Moodyseconomy.com.
The new airport the largest infrastructural Property in Germany will accelerate economic activity in the greater Berlin area but especially in Schonefeld. What has been a relatively small community will be transformed into a city in the coming years, Mr McRigg said.