Mr. Gröner, we read that you are selling your villas on the Côte d’Azur and your Porsche collection. Has the crisis in the construction industry brought your companies to their knees?
Oh well, I invested in French real estate in good times, assuming that its value would develop better than in other markets. I didn’t bet on Paris, Berlin or Warsaw, but on Saint Tropez and the surrounding area. It paid off. I achieved annual increases in value of ten to 20 percent.
Why there?
Because I am half French, my mother was from France, and therefore have the opportunity to invest in France. To invest there, you have to know the language and understand the country. The market in France cannot be compared to the German one.
