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German housing market overheated, says Bundesbank
By EUobserver
German real estate is overvalued by up to 30 percent, Germany's central bank, Deutsche Bundesbank, said on Monday. Its monthly report for February singled out seven cities which were particularly affected by overheated markets - Berlin, Cologne, Duesseldorf, Frankfurt, Hamburg, Munich and Stuttgart. Investors have turned to real estate as low interest rates erode benefits from saving.