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Berlin: Apartment, House and Investment
Berlin is known worldwide as one of Europe’s mega-cities. It offers everything from fashion, art, finances, startups, and the list goes on. There’s hardly a person that wouldn’t find their passion represented in this 3.75 mil. city. This is also evident in its sprawling size and distinct districts. For this reason it’s often described as being many cities in one. Every person can find their dream property here, whether historic villas in Zehlendorf or luxury lofts in Charlottenburg.
From Affordable to Luxury Investments
Real estate is a major draw in Berlin. Prices are increasing steadily, especially in e.g. Kreuzberg or Prenzlauer Berg. Last year, around 20.000 new living units were approved, showing just how much this city is gaining in popularity. Apartment prices have increased by 13.5% in the past 3 years, being the highest in Germany. Similarly for single- or double-family residences, growing by 16,2%. On average, rent prices can reach €9,50-28,00 per square meter in good areas. But this shows the disparity between the finer places like Charlottenburg, and up-and-comers like Wedding where prices are comparatively low.
Berlin: Buy Property
Where to Live? The districts you have to know are Berlin-Mitte, Kreuzberg, and Friedrichshain, where the world-famous nightlife takes place. They also boast cafes, and especially Kreuzberg and Friedrichshain, thanks to their relatively inexpensive rent prices are home to artists and students which make these parts very lively. Also important are Prenzlauer Berg, where young families spend their days walking along the long tree-lined promenades and 18th century facades. For professionals, the districts of Treptow-Köpenick and Stelgitz-Zehlendorf are desired for their close proximity to the city without losing greenspaces, and a calmer atmosphere.
German Real Estate Info
If you’re looking into buying real estate in Germany, there’s some details you have to know about. Germany has substantially different laws relating to real estate than other countries. Therefore, to know where to save, what to look for, and the nitty gritty details, you have to get specific information. You should know about things like the Immobilien GmbH and Grunderwerbsteuer and German real estate taxes.
Buying a House in Germany – Additional Costs
What additional costs can you expect buying a hosue in Germany? It can be maddening trying to understand the German real estate laws and regulations. Below we explain the most important additional costs, and hidden fees which you may not know about. This short how-to guide should let you know a lot about what to consider when buying a house in Germany. Low interest, mad loan offers and irresistible purchase prices entice and the seducive dream of home ownership can become reality. However, most people do not deal enough with the subject and forget about the additional costs that buyers and sellers expect in a purchase contract. Which additional costs arise with the purchase of a condominium?
