Germany is a place for long-term investments, overseas property advisor Amberlamb has advised…

Spokesperson Rhiannon Williamson explained that the reason for this was a market that had been static for the last five years, with the country's economy failing to match the successful growth seen in the UK.

Moreover, she pointed out, property taxation is high, all of which means those looking for a speedy profit should look elsewhere.

She said: "Taxation on investment property is high, taxation on the resale of property is high within the first few years, tenants' rights are pretty tough in Germany and an investment made should be considered a long-term, income producing commitment rather than a short term flip opportunity for equity growth."

All this might make Germany seem a less than attractive proposition. But there are hotspots in a country where things are otherwise somewhat cool, Ms Williamson points out.

‘peculiar’ qualities of Berlin

Berlin, as Stuart Law of Assetz and Bruno Nonaca of IPP investments have recently noted, has its own peculiar qualities, not least the potential for converting old commercial buildings in the former east, the comparatively low home-ownership (13 per cent compared with 43 per cent in Germany as a whole) and the redevelopment of the city following unification and its restoration as the national capital.

In fact, noted Ms Williamson, two cities, Frankfurt and Berlin, have benefited from economic and political changes in recent years, with the former becoming the headquarters of the European Central Bank (ECB) following the creation of the Eurozone.

She said:

"Berlin and Frankfurt have a lot of new development - both are employment hubs in a nation with high unemployment. What this means is that there is national inward migration of those seeking jobs and also both locations have many international companies as well as companies who require an international workforce - think investment banks and the ECB in Frankfurt and everything from diplomats to translators all working within government in Berlin."

The other city Amberlamb recommends is Munich, as it, like Berlin, is enjoying high demand for rental property and good employment prospects (Bavaria being the most affluent Lander). As for the type of property, apartments in urban areas near rail or underground stations are, Ms Williamson insists, a must.