Compared to other European countries, Germany is an expensive place for home buyers, a study released on Friday by the management consultants Deloitte showed. To purchase a flat in a newly constructed building, homebuyers need to spend €4,700 ($5,170) per square metre. Only Austria is slightly more expensive. In terms of average income, a 70-square-metre flat is cheapest in Denmark. Priced at nearly €3,000 per square metre, Danes only have to pay 4.7 annual salaries for a home that size. According to Deloitte, property is also very cheap in Italy, where around five annual salaries are enough t…