German Homebuilding Permits Soar as Buyers Seek Inflation Hedge
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German homebuilding permits soared to records this year as investors sought real estate as a hedge against inflation and a refuge from the sovereign debt crisis.
Permits rose 22 percent in the first nine months, while privately owned apartments gained 43 percent, the most in more than two decades, according to data compiled by the Wiesbaden, Germany-based Federal Statistics Office.