Pursuits
Berggruen Says German Real Estate Vulnerable in Euro Breakup
This article is for subscribers only.
The German real-estate market, one of the biggest beneficiaries of the European debt crisis, would be hurt by a breakup of the euro, according to billionaire investor Nicolas Berggruen.
“Germany has been a safe haven, but if the euro disintegrates, it will be in trouble,” said Berggruen, a German-American whose assets include homes and other Berlin properties valued at about 300 million euros ($375 million). Investors should take a “very cautious view,” he said.