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Hamburg: Apartment, house and investment
Hamburg is known worldwide for its historical significance and port. This port is deserving of its reputation, being the third-largest in Europe. This fails to describe Hamburg accurately though. It is one of Germany’s most liked, high-class, culture capitals. The image of the ‘Elbphilharmonie’ is iconic, its Hafencity, modern and ground-breaking, and its countless restaurants and museums mean this city will never get boring. It offers interesting options for people from young students to those in their golden years.
Real Estate Market Hamburg
Hamburg ranks third in Germany for amount of real estate transactions. Showing just how popular this market is in this city. Additionally, this is growing, meaning an investment is likely to pay off over time. Hamburg also ranks second in the country for amount of properties being built. Increasing supply means lower prices at the moment, but with purchases seemingly growing endlessly, this is a ripe market. The majority of these real estate transactions are apartments, making up over half of all sales. Prices for apartments are increasing by about 8% annually, while for single-family residences, these increase by around 6%.
Hamburg: Buy Property
If you are also looking for exclusive real estate in Hamburg, from condominiums (ETW) to private estates and city villas, then you don’t need an ordinary real estate agent, but someone with expertise. Especially with expensive and high-quality properties, a lot of money can quickly be at stake. From exclusive stucco decorated ceilings in old buildings to marble decorative panels in the kitchen. It takes more than “just” real estate knowledge, it also involves materials, style and future developments, especially for Hamburg investors.
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?
