There’s a huge demand for any property for sale in Frankfurt, Germany, which is fast emerging as an alternative to the City of London in the post-Brexit world. A number of companies have already moved some of their employees from London to Frankfurt, or are considering doing so.
So this is not a bad time to sell your apartment in Frankfurt, Germany. There is every chance that you will get good money for it. Bank of America, JP Morgan Chase, GE, HSBC and IBM are some of the companies that have announced that they would be setting up major offices in Frankfurt, bringing along tens of thousands of employees with them.
The effect of all of this on the Frankfurt property market is expected to be massive. Already there are real estate experts saying that Frankfurt is the new London. Signs are that property prices in Frankfurt are headed higher as demand picks up.
The cost of office space here is shooting up anyway, and this could also percolate to the residential property market. There will be a number of business executives who will be moving to Frankfurt along with their families. This means there will be a lot of people who will want to buy an apartment in Frankfurt, Germany online as fast as possible.
Indeed, Frankfurt could turn out to be one of the biggest beneficiaries of Brexit. A number of multinational corporations have said that they don’t see any point in having their European headquarters in London when Britain will no longer be a part of the European Union. That just does not make sense.
Frankfurt and other cities in Germany such as Berlin, Munich and Hamburg have certainly benefited from two things – One, the Brexit vote and the subsequent unpopularity of the City of London; Two, the awesome rise of Germany as the power centre of Europe.
There’s no question that Germany under Chancellor Angela Merkel has become a superpower. Mrs. Merkel has taken over as the leader of the free world, at a time when the United States seems confused about its role in the larger global context under President Donald Trump. While there are chaos in America and an economic slowdown in China, Germany has been marching ahead, politically and economically.
Not only is Germany the manufacturing superpower of the world, it is also a fast emerging financial hub. Almost every major bank or financial institution in the world has critical operations in Germany. Frankfurt is the most advanced city in Germany with an excellent quality of life and world class amenities, and is a natural beneficiary of this change.
Deutsche Bank, for example, has already relocated 4000 workers from London to Frankfurt. A substantial chunk of London’s financial centre could well move to Frankfurt in the near future, unless the British government gets its act together. As of now, there is a lot of confusion and political uncertainty in the UK, which has worked to the advantage of the property market in Frankfurt.