Hockenheim’s race on Sunday was another win for Brit Lewis Hamilton, tallying his overall points to 58 which puts him into the Championship lead, ahead of Brazilian Felipe Massa. Having started in pole position, Hamilton was leading the field until he was called into the pits for a late stop, due to German Timo Glock’s accident. Glock crashed into a wall when his rear tire suddenly deflated at lap 36. Luckily he didn’t carry any serious injuries and was later released from hospital. The accident brought out the safety car, which kept Hamilton on the track while the rest of the field did their final pit stops.
When he was finally forced for his pit stop Hamilton lost the lead to Finn Kovalainen, Brazilian Massa and rookie driver Nelson Piquet Jr., also from Brazil. But Hamilton couldn’t be stopped and with eight laps to go he snuck his way back into the lead and eventually into race victory.
His win gave McLaren their first win in Hockenheim since 1998 while rookie driver Piquet celebrated his first ever podium.
Biggest rival Ferrari didn’t have a particular great day but still managed to come away with third and sixth place.
- Lewis Hamilton (McLaren-Mercedes)
- Nelsinho Piquet (Renault)
- Felipe Massa (Ferrari)
The race result must have been quite emotional for Piquet Jr., as it was the first time since 1991 two Brazilians shared the podium. Back then it was his father Nelson Piquet Sr. who was joined by legend Ayrton Senna on the winning podium.
German property market still ticking along
On the German property front there are many conflicting news reports. Some mention gloom while others rave about the imminent boom. Despite recent news on the German economy taking a big hit, reported by Market Watch a week ago, the German property market is actually looking very stable indeed if we are to believe David Stanley Redfern Ltd.
According to a recent report, the German market is a rising force in the international property investment scene. As commercial buyers manage to make instant profit from the word go, the market seems ideally suited for property investors who have the financial means to ride the global property gloom.
In recent months, the market has been stable but slow, but with the recent increase of interest rates, (admittedly executed earlier than estimated), by the European Central Bank (ECB), property investments in Germany might actually be further encouraged to jump on board right now.
Instead of renting, German buyers might feel encouraged enough to buy, since the difference between rent and mortgage repayments isn’t major.
Attention and demand
According to an article on the world of property site, property company David Stanley Redfern has revealed that Germany is the fourth most searched for country on their website. It was also the ninth most visited among site browsers.
While Market Watch painted a much bleaker picture with their article it seems that Germany is strong enough to weather the global economy and the rising oil prices.
German hot spots
While some markets are stagnant, others power ahead and it seems that Berlin is now one of the best global investment opportunities. The last ten years have seen a gradual drop or stagnation in property prices due to heavy depression. With a staggering 80% of locals living in rental accommodation, this didn’t help to further the situation, at least until now.
Market analysts predict this period finally to be over and investors can expect a surge and property boom in Berlin within the next five years.
Some factors have been indicative about the imminent boom over the last year or so with investment banks and financial institutions buying up apartments blocks in bulk. It only makes financial sense that these companies will use their investments to cause a sellers market in the near future.
With increasing rental costs it is also highly likely that more people will jump on the investor train opposed to forking out money to somebody else.
Frankfurt is also predicted to surge, due to major financial investments. The city is after all the financial heart of Germany and has a wide range of hotels that boast an 80% occupancy rate throughout the year.
This provides excellent opportunities for investors, since they could do well with a hotel suite investment while the market climbs up to its full potential.
For property investors who have spare cash right now, Germany is a gold mine, since many properties can be bought for less than £100,000. This positions early buyers into a great spot if they have the financial means to play the waiting game.
With Germany being one the the world’s leading economy, it is clear that the German property market is in fact a sleeping giant.