Selling real estate in Altstadt – As an exclusive residential area with a traditional flair, this district is right up there with the districts of Lehel, Bogenhausen, Maxvorstadt and Schwabing as one of the most attractive places to live in Munich. You want to sell your apartment, your property or your apartment building in the historic old town? With our free guides and tips, you are well prepared for your property sale. Selling procedure, the most important documents and property valuation – here you will find out everything you need to know. Welcome to Munich-Altstadt! Back to overview: Selling real estate in Munich.
Old town: Exclusive residential area with traditional charm
A diverse cultural offering, breathtaking architecture and picturesque landscapes make up the flair of Munich. This also has an effect on the lives of Munich residents: The standard of living is high, the economy is booming and the unemployment rate is low. Every year, the Bavarian capital not only attracts many tourists from all over Europe, but also entrepreneurs, investors, families and singles. Munich is a popular place to live that has something to offer for everyone.
Old town: map and location
The Old Town in Munich is especially known for its medieval style. The numerous flagship stores of international brands or with selection for Bavarian traditional costumes in the pedestrian zone are much visited and make the Munich Altstadt very attractive. The districts of Lehel, Neuhausen-Nymphenburg, as well as Maxvorstadt are also nearby.
Sell real estate: Apartment, house, apartment building
You want to buy a property and are now in a hurry with your current property sale? Or you would like to buy an apartment building in order to rent it out lucratively? The reasons for a real estate sale in the old town are versatile. Since a private real estate sale is always associated with a variety of problem sources and risks, we recommend that you contact the real estate agent you trust. An estate agent will advise you on tax and financial matters, guide you through the entire selling process and be familiar with the different types of houses and apartments.
Real estate valuation: Valuation for the sale of real estate
Real estate prices in Munich are on the rise. Therefore, determining the purchase price is one of the most important steps in selling real estate. If the purchase price is realistic, you can enjoy high demand. However, if it is too high or too low, you will scare off prospective buyers and lose unnecessary time and, in the worst case, even money!
Here we show you which factors influence the purchase price – with our free guides and tips:
On the central Marienplatz, crowds gather to watch the carillon with life-size figures on the tower of the neo-Gothic town hall. If you want to sit back and relax in a beer garden, there’s plenty of choice of deli stalls and beer gardens at the Viktualienmarkt. Munich’s Altstadt district essentially corresponds to the area of Munich’s historic city centre, the area that was surrounded by Munich’s city fortifications from the Middle Ages until the end of the 18th century.
Planning: What to consider when selling real estate?
If you have made the decision to sell your property, the first step is to plan the sale. This includes already looking around for a new home or considering how to clear out the property for the sale. Ownership should also be clarified and any loans or credits should be settled or you take care of an early repayment decision with the bank.
Whether it’s a semi-detached house in Lehel, a loft in the old town or a villa in one of the most expensive streets in Munich – determining the value of the property always presents a special challenge. The property value depends on the condition of the property, the location and the usual market prices demanded in a region.
When it comes to the purchase price: location, location, location!
Once you have determined a price, you can start creating an exposé. In it, the most important key data and details about the property are listed and, if possible, also provided with corresponding pictures. Subsequently, you can take care of the sale of the property and make viewing appointments with interested parties. For all these activities, however, it is advantageous if you work together with a real estate agent.
The broker also conducts the negotiations about the sale and prepare the purchase contract at the notary. You then only have to sign the purchase contract together with the buyer. The notary makes the entry of the property in the land register. The new owner’s name will then appear there. Once these procedures have been completed, the notary informs the buyer when he can transfer the agreed purchase price to the seller. You as the seller then only have to check your bank statement to see whether the money has arrived.
Here are the final steps of the real estate sale:
Purchase contract is prepared by broker and notary public
Purchase contract is signed by buyer and seller
Change in the land register
Transfer of the purchase price
Verification of the account
Capital tax: When to pay?
In some cases, the sale of a house is also subject to the payment of capital gains tax. If there are more than ten years between the purchase and sale of the property, or if you have lived in the property as the owner for at least three years, this tax liability does not apply. Taxes and real estate are a subject where good advice is important. So here, too, it is worth contacting a real estate agent or a real estate lawyer in Munich.
Capital tax: If there is less than ten years between purchase and sale
Tip: Off Market – The work of the discreet broker
Many private real estate sellers hesitate to entrust a broker with the handling of the sale – not only because of the costs. They fear that the work of the broker will make the sale too public. Whatever the reason, neither neighbours nor friends and acquaintances should find out about the intention to sell. Many brokers in Munich are aware of the needs of their customers and also allow off market transactions. Here the discretion of the seller is always in the foreground.
Reading tip: Off Market – selling real estate discreetly and anonymously
Munich: Real Estate in Bavaria
Munich is the most populous city in Bavaria and the third largest municipality in Germany. With around 4,800 inhabitants per square kilometre, the Bavarian metropolis is also the most densely populated municipality in Germany. The figures confirm the population growth. More and more people want to live in the Bavarian metropolis. The proximity to the Alps and neighbouring Austria make Munich very attractive.
Real estate in Munich
Munich counts itself as one of the economic metropolises of Germany. It is also famous for its high quality of life and the surrounding nature. Skiing in the Alps or hiking, as well as countless lakes for summer activities are in the immediate vicinity, not to mention the Italian coast in the south.
Living in Munich: Popular districts & residential areas
In no other German city is housing as expensive as here. Experts agree that a property in Munich in the right neighbourhood is a safe investment. But what does ‘right location’ mean in Munich and what kind of investment should one expect to make in order to buy a decent apartment or a luxurious house in the capital of Bavaria? We answer these questions here! To the overview: Living in Munich
More and more people want to live in the Bavarian metropolis. The proximity to the Alps and the neighbouring country Austria make Munich very attractive and also the individual districts have a lot to offer. While Lehel and the old town convince with their historical charm, the residential areas of Bogenhausen and Schwabing inspire with their variety of well-kept green spaces and parks. The vibrant Maxvorstadt and the elegant Nymphenburg are also among the most attractive places to live in Munich. Do you want to sell your apartment, your apartment building or your own property here? With our free guides on selling real estate in Munich, you are well prepared. To the overview: Selling real estate in Munich.
