Property in Germany

To those not involved in overseas property markets the name of Hypo Real Estate is probably not familiar but it will certainly be in the news over the next few days. Hypo Real Estate is the second largest property lender in Germany and has literally fallen to its knees over the last few days.  Only last week the group was on the verge of going under when a consortium of banks stepped in with a last ditch financial package to stave off bankruptcy.

However, only a few days later the deal fell apart as the banks in question pulled out leaving the German authorities to step up and announce a $68 billion rescue package for the group to stave off a crisis in the German property sector.