Berlin

What international buyers need to know

You want to buy property in Germany? 10 important things you have to keep in mind

Wer als Ausländer eine Immobilie kaufen möchte, muss einige rechtliche und gesetzliche Aspekte beachten

1. Do I have to speak German fluently?
No, you don't have to be able to conduct negotiations in German to buy an apartment in Berlin. Our international team is happy to conduct viewings in English or other languages – and deal with you in that language until the key-handover.

2. Is it necessary to already have a German residence?
No, a German residence is not a requirement for buying an apartment in Berlin. Your home address will suffice.
 

3. Can I finance the purchase of a property in Germany?
Yes. For international buyers, German banks typically finance up to 50-70% of the purchase price. We are happy to help you find the right financing.
 

4. What do I have to keep in mind if I rent out my apartment?
We're happy to take care of renting out the apartment at conditions that meet your needs.

5. How high are average rental returns in Berlin?
With the purchase of a new apartment, rental returns are generally between 3 and 3.5%.

6. What additional costs should I expect when buying an apartment?
In some cases, additional costs in Berlin can reach 15% of the purchase price. ZIEGERT is less expensive. Our commission is 5.95% (including VAT) and not 7.14%, as is quite common. Further costs include notarization (2%) and the land acquisition tax (6%).
 

7. What legal issues need to be kept in mind?
The purchase of real estate in Germany is clearly regulated. The purchase must be overseen by a notary. As far as legal security with regard to real estate purchases is concerned, Germany is among the most secure countries in the world.

8. Do I need legal representation to purchase real estate?
Generally not. Our consultants will be happy to go through all the relevant issues with you. If you have any questions that cannot be cleared up to your satisfaction, by us or the notary, you may instruct a lawyer if you so wish.

 

9. Can you tell me something about the tax issues related to purchasing an apartment?
We're happy to provide you with an overview. For more detailed information, we can recommend a tax consultant.

10. Does ZIEGERT also offer rented apartments?
Yes. Note, however, that in Berlin, tenants can only be terminated ten years after the purchase if the owner wishes to occupy the apartment personally. Potential owner-occupiers should therefore only purchase un-rented apartments. Rented apartments can however be a very good investment option, please ask us to provide you further information.

 

Foto: fotolia