German Real Estate

According to the FTD, anglosaxon investment funds have spent a massive 72 bn € on German residential and commercial real estate during 2005-08. And apparently, much of it is now proving hard to rent out or sell on.

It's not clear from the article how much of that money is from investors and how much from banks (nor do we learn how much of the bank loans are from German banks, and how much of the investor money is German money flowing into American-led funds), but it shows that it isn't only German investors that got burnt with US subprime - at least to some extent, it was a two-way-street...