The real estate market in Berlin is expected to grow further, but at a slower pace than in the past two years, property consultant Winters & Hirsch said on Wednesday. Total turnover is seen rising to over EUR 17 bn in 2007, compared with some EUR 15 bn in 2006 and EUR 10 bn in 2005. 'This development does not represent overheating of the market nor is a developing bubble to be expected,' said Bruno Tabert, head of Valuation Advisory. 'Rather, the real estate market is currently experiencing a price revaluation.'

The real estate market in Berlin is expected to grow further, but at a slower pace than in the past two years, property consultant Winters & Hirsch said on Wednesday. Total turnover is seen rising to over EUR 17 bn in 2007, compared with some EUR 15 bn in 2006 and EUR 10 bn in 2005. 'This development does not represent overheating of the market nor is a developing bubble to be expected,' said Bruno Tabert, head of Valuation Advisory. 'Rather, the real estate market is currently experiencing a price revaluation.'

Winters & Hirsch issued a press release on Wedneday confriming its earlier forecasts for the Berlin market in 2006. Citing the latest market report from the Berlin board of expert valuers, the company said a record EUR 14.83 bn was generated through more than 32,000 deals last year. 'The capital city is experiencing its first stable increase period since reunification,' Tabert said.

Foreign investors continued to pour into the German capital last year, with one in every four investors coming from abroad. According to the report, foreign interest in Berlin properties will remain strong in the future.

'The interest from foreign investors in Berlin is far from saturated. Investors are increasingly willing to invest as the city is only at the beginning of a stong economic upward trend,' Tabert said.