An investment fund that specialises in property in Berlin and other cities in the former East Germany begins trading on AIM today. Daily Telegraph

The fund, Taliesin, hopes to profit from a recovery in the German economy.

Mark Smith, chief executive of the fund’s investment adviser, Taliesin Management, said properties in the former East Germany were still cheap. ‘You can buy a property [in Berlin] for less than it would cost you to build it,’ he said.

The fund already owns 36 properties in the German capital, having raised €37.8m (£25.6m), and following listing, will look for property in Berlin, as well as Potsdam, Dresden, Leipzig and Chemnitz.