23.08.2011 - German property refurbishment market to reach EUR244bln, says IVG
Investors' continued appetite for new-build prime is "completely out of sync" with Germany's real estate stock, according to a report published today by IVG. Instead, they should be looking at refurbishment projects that could be worth 244bn over the next five years. High-profile conversion projects currently account for 1.5% of the German real estate inventory. The 'Research Lab' report said: "The big picture, meaning the remaining 99%, is often overlooked.".............................................Full Article: Source
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