Frequent burglaries lead to hot sale of safes in Germany

Due to the increase in burglaries in Germany and the almost zero interest rate on bank deposits, more and more Germans are taking security measures in their homes, bringing huge business opportunities to manufacturers of safes and cabinets.

According to Deutsche Welle, one of the reasons for the apparent increase in turnover of the German security equipment industry is the increase in burglaries. In 2015, for example, 167,000 homes were burglarized, which equates to a 10% increase in burglaries in one year, reaching a record level.

In addition, since bank deposits earn little to no interest, Germans are now willing to spend money to place insurance facilities in their own homes to safeguard their property. As a result, the demand for private safes has even increased by almost 30% in recent months.

The huge demand in the field of private safes was already evident when the financial crisis occurred. Now, however, the demand for safe deposit boxes has risen even more sharply due to the sharp increase in burglaries.

In addition, discussions about banks capping cash payments and the European Central Bank’s interest rate policy have also been the reasons that have prompted some customers to buy safes.