BUYING PROCESS GUIDE
- Reservation Process we ask for a 1% of the property value, a copy of a legal identification, and three forms to be filled out which are, Reservation Contract, Withdraw Policy, and Commission Contract.
- Buying costs include roughly about 1-2% for Notary Cost, 6% for Transfer Tax Cost, 7,14% Agent Commission, and additional cost for Legal Advice.We make sure the property is free of financial burdens such as maintenance fees prior to full closure.
- Maintenance & Running Cost: consist of the monthly undertaking expenses usually paid by tenants when rented. Maintenance cost includes costs such as minor repairs, restoration, painting, garden maintenance, garbage, rental management services, etc. Running cost includes the consumption of electricity, gas, internet, tv, etc.
- Rented Properties Rights are automatically transferred to the new owner. Overall rents cannot increase by more than 15% in a three year period.
- Mortgage for foreigners are also available through German Banks with a 50% deposit of the purchase value.
- Capital Gains Tax on Re-Sales does not apply in Germany if you sell your property after ten years and is held personally.
REASONS TO BUY IN BERLIN
- Germany is Europe's largest economy.
- Euro zone, no currency risks.
- Strong legal system, safe property titles protecting Germans and foreign Investors.
- When compared with prices in other European, property prices in Germany are still much lower per square meter, and so is the living cost.
- House management companies deal with tenants, maintenance, and all day to day issues involved in running apartment buildings.
- Rental leases on German residential property provide insurance against inflation.
- Very strong rental market for residential property due to Berlin´s increasing population of about 50,000 people per year.
- According to the magazine New York Metropolis, Berlin is once again in the process of change, absorbing new demographics as professionals in technology and creative young people in the search for affordable studios.
- Creative people, artists, international painters, writers, cinematographers, musicians, and young entrepreneurs in Berlin have been making a creative foundation for more than a decade. Berlin's 3.5 million population is very young and vibrant many of whom are under 35 which provides the core of the city's creative energy.
- Berlin is also host to about 150,000 students, and hosts 3 of the top 6 German universities ranked among the top 100 such as the Humboldt Universitat Berlin, the highest-rated plus Freie Universität Berlin and Technische Universitat Berlin. Therefore, there is a high demand for student apartments in the popular neighborhoods of Berlin: Mitte, Prenzlauer Berg and Friedrichshain.
- While it is clear that it has the fast growing economy in Germany, Berlin also remains one of the greenest cities in the world, with a lot of parks, lakes and forests. Together with all the museums, the Berlin Film Festival and the Berlin Philharmonic, the city hosts one of the most vibrant cultural and artistic scenes in the world.