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From war bunker to penthouse to market flop: how Germany’s property boom ended

Source: reuters.com reuters.com
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[1/3] The site in central Munich of a project planned by Euroboden, a property developer that has filed for insolvency, in Munich, Germany, August 29, 2023. REUTERS/Tom Sims Acquire Licensing Rights MUNICH, Sept 1 (Reuters) - It has been a tumultuous year for one prominent German property developer: his efforts to sell his penthouse atop a Nazi-era air raid shelter have stalled, and just weeks ago his firm filed for insolvency. The one-two punch for the developer, Stefan Hoeglmaier, and his company, Euroboden, mirror the travails of the broader property sector across Europe's largest economy as it suffers its worst...
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