Reinvestment | Lukinski https://lukinski.com Thu, 24 Aug 2023 13:56:20 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.5 Apartment & house for sale Hamburg: valuation, documents, procedure https://lukinski.com/apartment-house-for-sale-hamburg-valuation-documents-procedure/ Thu, 24 Aug 2023 13:56:20 +0000 https://lukinski.de/apartment-house-for-sale-hamburg-valuation-documents-procedure/ Apartment & house for sale in Hamburg – You want to sell your apartment, house or apartment building here? With my little free guide about selling real estate in Hamburg, you can prepare yourself. What belongs to it? From the most important documents, over the evaluation, up to sales emphasis in the individual districts (at the end of the councellor). Because, “good planning is half the battle”! Hamburg real estate is extremely sought after, but you should still avoid the typical mistakes when selling. This is what you should know for your apartment sale and house sale in Hamburg. Do you have questions about valuation and sale in Hamburg? Contact us.

Hritt 1

Various documents need to be obtained for the house sale. Your prospective buyers are also looking for information about the building permit, the building description and have legal questions about the property. Before the planned sale, the following documents should be available for the sale:

  • Energy certificate (mandatory when placing the ad)
  • Land register extract and cadastral map
  • Living space calculation
  • Building description
  • Floor plans, elevations
  • Building permits
  • Evidence of maintenance, modernization and repairs

Contact authorities and offices in good time so that the documents are available in good time and in full. We will be happy to help you obtain some of the documents. The documents are not only required at the time of sale. The energy performance certificate is already obligatory when the first property advertisement is placed and must be presented to the prospective buyer at the viewing without being requested to do so.

Always allow enough time and costs if documents have to be requested first!

Do you have everything together yet?

Checklist: House sale in Hamburg

With my small house selling tool you can easily collect the most important documents for your house sale in Hamburg. Tip! Here you can find more real estate tools from my real estate app. You can also find more on the topic including the process, risks and much more here: Selling a house.

Checklist: Apartment sale in Hamburg

The quick checklist for your apartment sale in Hamburg:

Checklist: Selling an apartment building in Hamburg

Here I have an extra guide, as selling from data room to prospect acquisition is a bit more complex:

House & apartment evaluation – Step 2

Whether it’s a spacious apartment in an old building, a bungalow on the outskirts of town or a luxurious single-family home in the north of the city, experience shows that owners set a selling price that is significantly too high. The home is loved and a lot of time and effort has been invested. The tasteful and high-quality interior design is often of little interest to the prospective buyer when selling the property and price premiums are not accepted.

Potential buyers are primarily interested in the technical condition of the property and the room layout. If you plan a quick renovation to increase the value or renovation of your property with the help of craftsmen in Hamburg, Hamburg architects & Co. this can increase the value of your property immensely.

The following questions will affect the purchase price of your property:

  • What needs to be remediated in the short term?
  • What is the condition of the property?
  • Are the bathroom and kitchen to be modernized?
  • How is area layout and the stairs of the house?
  • How far away are kindergarten and school?

Read the most important facts about the assessment in Hamburg here:

No time? No desire to stress with interested parties and buyers?

Exposé, Buyer Acquisition, Negotiations & Co. – Step 3

Now it’s time for you to go on the offensive. You have all the documents for the sale together, so you can provide excellent evidence of your offer price. Ideally, this is also supported by a well-founded property valuation. Now it’s time to approach the right people.

A small apartment is easy to market in real estate portals, but in Hamburg you can also expect 200 responses directly. Which 5 of them offer sufficient financial security? Invitations are followed by viewing appointments, individual conversations, negotiations and later the purchase contract and your notary appointment.

There is a lot to consider! Learn the most important here:

Hamburg real estate prices

Here is an example of the development of real estate prices in Hamburg. You can see the real estate prices for condominiums in Hamburg in 2023, broken down by existing and new construction.

Statistik: Immobilienpreise für Eigentumswohnungen in Hamburg von 2008 bis 2019 unterteilt nach Bestand und Neubau | Statista
You can find more statistics at Statista

Sell in… – Hamburg districts

Hamburg is not only home to Germany’s largest port, but also to a large number of major companies, publishing houses and media agencies. The Hanseatic city impresses not only with its strong economy, international flair and growing job market, but also with its many chic neighborhoods. Whether family, single, student or entrepreneur – everyone feels at home in Hamburg. While families prefer the quiet Rotherbaum, singles and couples enjoy the colorful city life in HavenCity. And the city’s suburbs on the edge of the Elbe also have something to offer.

Read more here: Sell property

Blankenese: affluent district with a view of the river Elbe

Adjacent to the popular residential district of Rissen, lies the luxurious district of Blankenese. Enjoy the beautiful landscape and nature that this unique residential area has to offer. The high elevations make for a unique picture. Unique is the stair quarter: behind this quarter hides a residential area with old fishermen’s houses, which can only be reached on foot. Thus, a project for car-free living is realized. And the view of the Elbe also adds to the charm of Blankenese.

Rissen: Chic suburb on the banks of the Elbe River

The popular district of Rissen is located west of the elegant Blankenese and the exclusive Othmarschen. The westernmost district of Hamburg, directly bordering Schleswig-Holstein, is home to around 15,900 inhabitants and covers an area of 16.65 km². In addition, Rissen belongs to the district of Hamburg-Altona and is one of the luxurious suburbs on the edge of the Elbe.

Othmarschen: Exclusive district with high quality of life

In the middle between the exclusive Blankenese and the quiet Rotherbaum is Hamburg-Othmarschen. Here it is bursting with sights, restaurants and cafes, which are not only very well known and popular in the neighborhood, but directly in the whole city. The proximity to the Altona fish market and the unique view of the Elbe River also add to the unique flair of the district.

Hafen City: Luxurious place to live in the center

The Hafen City district is located in the heart of Hamburg and lies south of Hamburg’s old town. The districts of Rotherbaum and Harvestehude are also not far away. The Hafen City district is highly modern and has only been developed in the recent past. Since 2003, the redevelopment of the Hafen City district has been taking place in the center of Hamburg. Among other things, new residential areas are being created here between Kehrwiederspitze and Elbbrücken. Ten city quarters with modern residential buildings are being built in the former harbor area.

Harvestehude: A distinguished district in transition

Enclosed by the Outer Alster and the Isebekanal, the district is located in the district of Eimsbüttel and is the neighbor of the districts of Grindel and Schlump. The popular Rotherbaum district borders to the south and the sought-after Hafen City residential area is also not far away.

Rotherbaum: Upscale district on the edge of the Alster lake

The Rotherbaum district is located north of the city center. It borders the popular Harvestehude district to the south and is also not far from the modern Hafen City residential area. 16,000 residents have already settled in the district with its Tudor-style villas.

]]> Living in the Elbe suburbs (Hamburg): Buying land in Rissen, Othmarschen, Blankenese & Co. – Popular property types and prices per square metre https://lukinski.com/living-in-the-elbe-suburbs-hamburg-buying-land-in-rissen-othmarschen-blankenese-co-popular-property-types-and-prices-per-square-metre/ Thu, 29 Apr 2021 02:17:43 +0000 https://lukinski.de/living-in-the-elbe-suburbs-hamburg-buying-land-in-rissen-othmarschen-blankenese-co-popular-property-types-and-prices-per-square-metre/ Living in the Elbe suburbs – Upscale Uhlenhorst, exclusive HafenCity and luxurious Winterhude, the Elbe suburbs of Hamburg are also among the most exclusive residential areas in Germany. Due to the proximity to the romantic banks of the Elbe and the breathtaking villas, it is almost like a fairy tale here. Would you like to invest in a property as a capital investment in one of the Elbe suburbs? Find out here everything you need to know about living in Rissen, Nienstedt & Co. In addition: The individual Elbe suburbs presented, as well as all square meter prices for apartments, houses and land – Welcome to the Elbe! Back to: Living in Hamburg.

Living in the Elbe suburbs: Blankenese, Isebrook, Othmarschen & Co.

The Elbe suburbs are particularly well known beyond Hamburg’s borders. These are located in the west of Hamburg on the banks of the Elbe and are considered the largest contiguous villa area in Germany. The fairytale atmosphere, the proximity to the banks of the Elbe and the unspoiled nature contribute to the charm of the Elbvororte. Before we go into the individual districts and their prices per square metre, here is a brief overview.

Welcome to Hamburg: International Hanseatic City in the North

Hamburg is the only metropolis in Germany that offers a port feeling. Every day, thousands of containers reach the city via the port facilities. That is why so many people are drawn to Hamburg. Not only is there a flourishing Hanseatic economy, Hamburg is also home to major media houses, advertising agencies and, of course, a correspondingly large number of real estate agents. Especially the Elbphilharmonie with its unique architecture stands for Hamburg.

The Elbe: One of the largest & most beautiful rivers in Europe

Alongside the Danube, Vistula and Rhine, the Elbe is one of the largest rivers in Europe. The Central European river runs from the Czech Republic through Germany to the North Sea. The unspoiled nature at the edge of the Elbe and the breathtaking banks and beaches, which invite you to go for a walk in summer, make the Elbe suburbs the most exclusive residential areas in Hamburg.

Sightseeing: A tour of the Elbe suburbs & prices per square metre

Whether it’s an exclusive villa in Blankenese, a modernised apartment in an old building with a view of the riverbank in Othmarschen or a luxurious detached house in Iserbrook – a property in Hamburg’s Elbe suburbs is considered a great privilege. No wonder: the standard of living here is high, the nature is varied, the cultural offer is wide-ranging and the real estate market is exclusive.

These districts belong to the Elbvororten:

  • Rissen
  • Blankenese
  • Iserbrook
  • Nienstedten
  • Othmarschen

Rissen: chic suburb on the banks of the Elbe

To the west of elegant Blankensee and upmarket Othmarschen is Rissen. Here are on an area of just under 16.65 km ² about 15,900 inhabitants at home. Especially the many green spaces, such as the Tinsdaler Heide, the forest Klövensteen, the Schaakenmoor and the Wittenbergen beach make the flair of this district.

  • District: Altona
  • Population: 15,327
  • Inhabitants per km: 918
  • Area: 16,6 km²

Square meter prices for house & apartment

Apartments, villas and detached houses are all popular in Rissen. And this is also reflected in the prices per square metre. Whether it’s a bungalow, a semi-detached house or a newly built apartment – there is hardly another Elbe suburb where prices are as similar as here. The only exception: existing apartments.

All prices per square metre at a glance:

  • Buy a house (existing): 5.406 €/m²
  • Buy a house (New): 5.500 €/m²
  • Buy apartment (existing): 3,926 €/m²
  • Buy apartment (New): 5.616 €/m²

Our tip: If you would like to buy an apartment building here, it is worth renovating and refurbishing the existing apartments. With the help of an experienced craftsman and architect, such a modernisation leads to an immense increase in the value of your property.

Blankenese: affluent district with a view of the water

Blankenese is considered the most exclusive, luxurious and chic district of Hamburg. Enjoy the beautiful landscape and nature that this unique residential area has to offer. Here, above all, the view over the neighbouring communities and the banks of the Elbe from Hamburg’s most famous mountains is the most beautiful: the Süllberg and the Baursberg. In addition to the diverse nature and the breathtaking real estate, the historic staircase district in the south of the district also inspires. It is also home to some of the most expensive streets in Hamburg.

  • District: Altona
  • Population: 13,491
  • Inhabitants per km: 1,744
  • Surface area: 8.3 km2

Map and location of Blankenese:

Square meter prices for house & apartment

Real estate in Blankenese is among the most expensive in the city. Especially villas overlooking the entire banks of the Elbe are coveted. And even apartments in old and new buildings are nowhere as expensive as here.

Learn more here:

  • Buy a house (existing): 8,094 €/m²
  • Buy a house (New): 6.461 €/m²
  • Buy apartment (existing): 6,362 €/m²
  • Buy apartment (New): 7.678 €/m²

Isebrook: Elegant Elbe suburb full of middle-class down-to-earthness

Isebrook has only been considered a district of Hamburg since 1951. It is mainly young families who move here and enjoy the friendly neighbourhood, the exclusive detached houses and the proximity to the Elbe.

  • District: Altona
  • Population: 11,468
  • Inhabitants per km: 4,295
  • Surface area: 2.7 km2

Square meter prices for house & apartment

Compared to Blankenese, Othmarschen & Co., the prices per square metre in Isebrook are somewhat more affordable than in the other Elbe suburbs. In particular, houses that are less than 3 years old sell more quickly here than the imposing mansions of years gone by.

Learn more here:

  • Buy a house (existing): 5,128 €/m²
  • Buy a house (New): 3.375 €/m²
  • Buy apartment (existing): 4,031 €/m²
  • Buy apartment (New): 5.822 €/m²

Nienstedten: Village flair meets timeless elegance

The district of Nienstedten between Blankenese and Othmarschen convinces with its unique mix of timeless elegance and village flair. This unique combination is what makes Nienstedten so charming. The gastronomy, which is known beyond the borders of Hamburg, as well as the multitude of sights make Nienstedten one of the most popular places to live on the banks of the Elbe.

  • District: Altona
  • Population: 7,307
  • Inhabitants per km: 1,668
  • Surface area: 4.4 km2

Before we get right into square footage prices, here’s the map and location:

Square meter prices for house & apartment

You would like to buy a property in Nienstedten? In Nienstedten, it is mainly existing properties that are in demand. A newly built house, on the other hand, is rarely found here.

All prices per square metre at a glance:

  • Buy a house (existing): 8,107 €/m²
  • Buy apartment (existing): 6,477 €/m²
  • Buy apartment (New): 7.857 €/m²

Othmarschen: Exclusive district with a high quality of life

In the middle between the exclusive Blankensee and the quiet Rotherbaum is Hamburg-Othmaschnen – home to Hamburg’s most famous sights, cozy coffee houses and upscale restaurants. The Alton fish market is also not far away, as is the legendary Elbstrand, the well-kept Jenischpark and the museum harbour Övelgönn.

  • District: Altona
  • Population: 15,281
  • Inhabitants per km: 2,570
  • Area: 6.0 km2

Here map and location of Othmarschen:

Square meter prices for house & apartment

In Othmarschen, it is primarily the prices per square metre that differ between the various existing properties. Here, the purchase prices depend mainly on the type of house and apartment. The purchase prices for new-build properties, on the other hand, tend to be similar.

Here is the overview:

  • Buy a house (existing): 9.015 €/m²
  • Buy a house (New): 8.949 €/m²
  • Buy apartment (existing): 6,410 €/m²
  • Buy apartment (New): 8.263 €/m²

Conclusion: Living in the Elbe suburbs

Are you drawn to the north of Germany? You would like to live in Hamburg? The real estate prices in Hamburg have risen immensely in recent years – and that also in the Elbe suburbs. As Germany’s largest contiguous villa district, they inspire with their breathtaking nature, the high standard of living, as well as the exclusive properties. The attractive villas and well-kept mansions of past decades add to the flair of the area. And the multitude of cultural events and street festivals, chic monuments and popular sights, as well as the romantic flair of the banks of the Elbe make the Elbe suburbs Rissen, Othmarschen, Blankenese & Co. what they are: One of the most fabulous areas in Germany.

Hamburg: Real estate in the Hanseatic City

Hamburg is the only metropolis in Germany that offers a port feeling. Every day, thousands of containers reach the city via the port facilities. That is why so many people are drawn to Hamburg. Not only is there a flourishing Hanseatic economy, Hamburg is also home to major media houses, advertising agencies and, of course, a correspondingly large number of real estate agents. Above all, the Elbphilharmonie with its unique architecture stands for Hamburg.

Hamburg property market: Overview

Many apartments, lofts and penthouses offer unique views. Perfect for people who work a lot and therefore seek relaxation within their own four walls. Hamburg is not only the hub of the global economy, but with a high standard of living, impressive architecture, a diverse culture and a good geographical location, it also offers an attractive place to live for families, singles, couples or entrepreneurs and investors.

Living in Hamburg: Popular districts & residential areas

The Hanseatic city, Germany’s pearl in the north, is full of life and forms a centre for business and lifestyle. While the Elbe suburbs inspire with their proximity to the shore and the many villa districts, HafenCity and Speicherstadt enjoy great popularity due to their central location. Historic Harvestehude, culturally upscale Uhlenhorst and charming Winterhude are also among the most attractive places to live in the city. Find out all about the prices per square metre and properties in Hamburg’s most sought-after districts here. Read more here: Living in Hamburg.

House, apartment and land for sale in Hamburg

While Othmarschen and Rotherbaum impress with their historic charm, the residential areas of Blankenese and Rissen delight with their views of the Elbe. And the modern Hafen City and progressive Harvestehude also enjoy great popularity. 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’ll be well prepared. Plus: everything you need to know about property valuation, estate agents & the process. Click here for the overview: Selling real estate in Hamburg.

]]> Selling real estate in Hamburg: Procedure, documents and real estate agent – Property, flat & house https://lukinski.com/selling-real-estate-in-hamburg-procedure-documents-and-real-estate-agent-property-flat-house/ Thu, 08 Apr 2021 07:56:04 +0000 https://lukinski.de/selling-real-estate-in-hamburg-procedure-documents-and-real-estate-agent-property-flat-house/ Selling property in Hamburg – More and more people want to live in the northern metropolis of Hamburg. The high standard of living, the flourishing economy and the diverse real estate market make the city attractive as a place to live. And also the individual districts have so much to offer. While Othmarschen and Rotherbaum impress with their historical charm, the residential areas of Blankensee and Rissen inspire with their views of the Elbe. And the modern Hafen City and the progressive Harvestehude also enjoy great popularity. Do you want to sell your apartment, your apartment building or your own property here? With our free guides on selling real estate in Hamburg, you are well prepared. Plus: Everything you need to know about property valuation, estate agents & the process – Welcome to Hamburg! Click here to go back to the overview: Real Estate Hamburg.

Selling real estate in Hamburg: Hamburg districts

Hamburg is not only home to Germany’s largest port, but also to a large number of major companies, publishing houses and media agencies. The Hanseatic city impresses not only with its strong economy, international flair and growing job market, but also with its many chic districts. Whether family, single, student or entrepreneur – everyone feels at home in Hamburg. While families prefer the quiet Rotherbaum, singles and couples enjoy the colourful city life in HavenCity. And the city’s suburbs on the edge of the Elbe also have something to offer.

Reading Tip! Hamburg: The most expensive streets

The most popular neighborhoods to live and reside in are:

Blankensee: Affluent district with a view of the Elbe River

Adjacent to the popular residential area of Rissen, lies the luxurious district of Blankensee. Enjoy the beautiful landscape and nature that this unique residential area has to offer. The high elevations make for a unique picture. Unique is the stair quarter: behind this quarter hides a residential area with old fishermen’s houses, which can only be reached on foot. This is a project for car-free living. And the view of the Elbe also adds to the charm of Blankensee.

Rissen: chic suburb on the banks of the Elbe

The popular district of Rissen is located to the west of the elegant Blankensee and the exclusive Othmarschen. The westernmost district of Hamburg, directly bordering Schleswig-Holstein, is home to around 15,900 residents and covers an area of 16.65 km². Rissen also belongs to the district of Hamburg-Altona and is one of the luxurious suburbs on the edge of the Elbe.

Othmarschen: Exclusive district with a high quality of life

Hamburg-Othmaschnen is located in the middle between the exclusive Blankensee and the quiet Rotherbaum. Here it is bursting with sights, restaurants and cafes, which are not only very well known and popular in the district, but directly in the whole city. The proximity to the Alton fish market and the unique view of the Elbe River also add to the unique flair of the district.

Hafen City: Luxurious residential area in the city centre

The Hafen City district is located in the heart of Hamburg and lies to the south of Hamburg’s old town. The districts of Rotherbaum and Harvestehude are also not far away. The Hafen City district is highly modern and has only recently been created. Since 2003, the redevelopment of the Hafen City district has been taking place in the centre of Hamburg. Among other things, new residential areas are being created here between Kehrwiederspitze and Elbbrücken. Ten city quarters with modern residential buildings are being built in the former port area.

Harvestehude: A distinguished district in transition

Enclosed by the Aussen-Alster and the Isebekanal, the district is located in the Eimsbüttel district and is the neighbour of the Grindel and Schlump districts. The popular Rotherbaum district borders to the south and the sought-after Hafen City residential area is also not far away.

Rotherbaum: Upscale district on the edge of the Alster

The Rotherbaum district is located to the north of the city centre. It borders the popular Harvestehude district to the south and is also not far from the modern Hafen City residential area. 16,000 residents have already settled in the district with its Tudor-style villas.

Selling real estate in Hamburg: With real estate agent or sell privately?

Selling real estate in Hamburg – Lukinski is a specialist for real estate throughout Germany. We represent the best locations in cities such as Berlin, Munich, Hamburg and Düsseldorf and sell apartments, single and multi-family houses, plots of land as well as commercial properties. One focus of our activity is the online marketing of real estate – because that’s where potential buyers concentrate to make their pre-selection. Our experience shows:

Professionally presented real estate sells the fastest

And so over 72% of all sellers trust their real estate agents & co! Find out here why selling real estate through an agent is worthwhile. What makes a competent estate agent and the biggest stumbling blocks of a private property sale.

Real estate agent: advantages & tasks

Above all, a broker has experience and probably knows the area better. This gives them personally less stress, more time for other things and, above all, greater security. Furthermore, you should not forget the contacts of the broker. This person has many years of market presence, which allows them to find potential buyers more quickly. However, make sure to look for a reputable and competent broker, so that he can assist you with his experience.

Reading tip: Off Market – sell property anonymously and discreetly!

In addition to a professional valuation that is appropriate to the local market, this also ensures that you can successfuly contact potential buyers. You do not have to worry about obtaining all the important documents, arranging and conducting viewings and checking the solvency of interested parties on your own. For many property owners, selling a house is a one-off affair, so there is a lack of know-how and the recommended expertise.

The main tasks of a broker at a glance:

  • Real estate valuation
  • Buyer contact
  • Acquisition of important documents
  • Organization and implementation of visits
  • Processing & purchase contract

Private real estate sale: advantages

Blankensee, Rissen, Rotherbaum or Hafen City – If you decide to sell your house privately, you can get an idea of the potential buyers yourself and have a look at them. Also, don’t discount the cost of an estate agent. Maybe I’ll get a better price because of the commission saved? So you don’t give the rudder out of your hand, you have everything under control and can follow every single step.

Reading tip: Selling property privately

Here is a summary of all the advantages:

  • No costs for brokers
  • Constant control over the sales process

Conclusion: Expertise of the broker convinces!

Although a private real estate sale also brings advantages, the real estate agent convinces through his expertise and experience. If you do without an estate agent when selling real estate, you risk a much longer sales process than necessary, in the worst case a far too low sales price and extreme stress for you and your private life. Stress and excessive demands always lead to mistakes and hasty decisions, which can have serious consequences in the case of real estate, as we are not talking about a few hundred euros here, but significantly more money.

The process of selling real estate: valuing, marketing & Co.

Hamburg is one of the most sought-after cities in Germany. Demand and therefore property prices in Hamburg are rising continuously. However, it is difficult to predict how long the trend will last. Selling your house or apartment today can achieve a very profitable sales price.

Good planning is half the battle

Whether it’s an inherited property or your own home – the sale should definitely be planned for the long term. Find out everything about the process, the property valuation, the most important documents & Co!

Valuation: Determine purchase price for apartment, property & apartment building

Whether it’s a spacious apartment in an old building, an exclusive bungalow or a luxurious detached house – experience shows that owners set a selling price that is far too high. The home is loved and a lot of time and effort has been invested. The tasteful and high-quality interior equipment is often little interesting with the real estate sales for the prospective customer and price increases are not accepted. Potential buyers are primarily interested in the technical condition of the property and the room layout. If you plan to renovate or refurbish your property with the help of a tradesman, architect etc., this can increase the value of your property immensely.

The following questions will affect the purchase price of your property:

  • What needs to be remediated in the short term?
  • What is the condition of the home’s heating system, windows, electronics, and roof?
  • Do you need to modernize the bathroom and kitchen?
  • How family-friendly are the floor plans and stairs of the house?
  • How far away are kindergarten and school?

Important documents: from the extract from the land register to the energy certificate

There are various documents to be obtained for the house sale. Your prospective buyers are also looking for information on the building permit, the building description and have legal questions about the property. Before the planned sale, the following documents should be available:

  • Energy certificate (obligatory when placing the advertisement)
  • Land register extract and cadastral map
  • Living space calculation
  • Building specification
  • Floor plans, elevations
  • Building permits
  • Evidence of maintenance, modernization and repairs
  • for condominiums: Minutes of the owners’ meetings, declarations of division.

Contact the authorities and offices in good time so that the documents are available in good time and in full. We will be happy to help you obtain some of the documents. The documents are not only required at the time of sale. The energy certificate is already obligatory when the first property advertisement is placed and must be presented to the prospective buyer at the viewing without being requested to do so.

Always allow enough time and costs if documents have to be requested first!

Exposé: Present property professionally with floor plan & photos

The online exposé is a decisive criterion in real estate sales. The internet and social media platforms are the hotspots of buyer research. We specialize in the online marketing of real estate throughout Germany and design attractive and meaningful exposés for your real estate sale. Here are some tips on how to present your house and apartment:

  1. Have a professional exposé created. With photos and text, it should appeal to seriously interested buyers, but without raising false expectations. Avoid superlatives and use many good photos.
  2. Name a realistic sales price. This is the only way that serious prospective buyers will come to the viewing appointments.
  3. Don’t wait until the viewing appointment to tidy up. The photos in the exposé are of great importance. Decluttering, cleaning and tidying up – including mowing the garden will leave a well-kept impression of the property. Minor repairs should also be repaired before a viewing.

Hamburg: Real estate in the Hanseatic City

Hamburg is the only metropolis in Germany that offers a port feeling. Every day, thousands of containers reach the city via the port facilities. That is why so many people are drawn to Hamburg. Not only is there a flourishing Hanseatic economy, Hamburg is also home to major media houses, advertising agencies and, of course, a correspondingly large number of real estate agents. Above all, the Elbphilharmonie with its unique architecture stands for Hamburg.

Hamburg property market: Overview

Many apartments, lofts and penthouses offer unique views. Perfect for people who work a lot and therefore seek relaxation within their own four walls. Hamburg is not only the hub of the global economy, but with a high standard of living, impressive architecture, a diverse culture and a good geographical location, it also offers an attractive place to live for families, singles, couples or entrepreneurs and investors.

Living in Hamburg: Popular districts & residential areas

The Hanseatic city, Germany’s pearl in the north, is full of life and forms a centre for business and lifestyle. While the Elbe suburbs inspire with their proximity to the shore and the many villa districts, HafenCity and Speicherstadt enjoy great popularity due to their central location. Historic Harvestehude, culturally upscale Uhlenhorst and charming Winterhude are also among the most attractive places to live in the city. Find out everything you need to know about prices per square metre and properties in Hamburg’s most sought-after districts here. Read more here: Living in Hamburg.

House, apartment and land for sale in Hamburg

While Othmarschen and Rotherbaum impress with their historic charm, the residential areas of Blankenese and Rissen delight with their views of the Elbe. And the modern Hafen City and the progressive Harvestehude also enjoy great popularity. 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’ll be well prepared. Plus: everything you need to know about property valuation, estate agents & the process. Click here for the overview: Selling real estate in Hamburg.

]]> Partnership limited by shares (KGaA) – formation, management, liability & Co https://lukinski.com/partnership-limited-by-shares-kgaa-formation-management-liability-co/ Tue, 16 Mar 2021 21:03:39 +0000 https://lukinski.de/partnership-limited-by-shares-kgaa-formation-management-liability-co/ Kommanditgesellschaft auf Aktien (KGaA) – The Kommanditgesellschaft auf Aktien is a German legal form which combines the corporate legal form of the Kommanditgesellschaft (KG) with a conventional Aktiengesellschaft (AG). Thereby the greatest advantages of both legal forms – the separation between full partner & capital provider typical for the KG plus the limitation of liability of the AG – intertwine and enable an innovative, new form of organization for start-ups. You want to found your own (real estate) company? Here you can find all types of companies and legal forms in Germany.

Partnership limited by shares (KGaA) – formation, financing, liability & Co

The partnership limited by shares – abbreviation: KGaA – is a relatively unknown form of corporate law and is formed as a hybrid of the conventional limited partnership – short: Kommandite or KG – plus the classic stock corporation – short: AG. Both the Kommandite and the AG belong to the so-called complete companies and are therefore primarily subject to the German Commercial Code (HGB). The limited partnership belongs beyond that however to the partnerships and has no own legal personality. The stock corporation, on the other hand, is probably the best-known corporation of all and is primarily committed to share trading.

The KGaA adopts the best features of both legal forms: it takes a stock corporation as its basic structure and supplements it with the structure of general partners and limited partners that is characteristic of the KG. Thus, the entrepreneurial management – similar to the AG – is divided into different bodies, whereas the liability risk is distributed among at least one personally liable partner and the remaining partners in the amount of their capital contribution. Although the partnership limited by shares is a limited partnership in name and suggests the legal status of a partnership, beware: it is in fact a corporation by virtue of its legal form, including its own legal personality!

Other typical corporations:

Corporation KGaA – Stock Corporation Act §§ 278 – 290 & §§ 161 – 177a German Commercial Code (HGB)

In principle, the legal basis for partnerships limited by shares is the German Stock Corporation Act (Aktiengesetz, AktG), more precisely: paragraphs 278 to 290, where, among other things, the nature of the KGaA is defined. For the legal position of the individual partners, on the other hand, reference is made to the applicable provisions for conventional limited partnerships, which are found in the German Commercial Code (HGB) – sections 161 to 177a.

Excerpt from the law – § 278 AktG:

(1) A partnership limited by shares is a company with its own legal personality in which at least one partner has unlimited liability to the company’s creditors (general partner) and the others have an interest in the share capital divided into shares without being personally liable for the company’s obligations (limited shareholders).
(2) The legal relationship of the general partners among themselves and vis-à-vis the entirety of the limited liability shareholders as well as vis-à-vis third parties, namely the authority of the general partners to manage and represent the partnership, shall be determined in accordance with the provisions of the Commercial Code on limited partnerships.
(3) In all other respects, the provisions of the First Book concerning the stock corporation shall apply mutatis mutandis to the partnership limited by shares, unless otherwise provided for in the following provisions or in the absence of a management board.

Kommanditgesellschaft auf Aktien – International distribution of the legal form

The partnership limited by shares – abbreviated to KGaA – is where the legal form of a stock corporation and the typical features of a limited partnership meet. The resulting hybrid of a corporation and partnership features has so far been rather rare in Germany, although interest has been slowly but steadily increasing since the end of the 1990s. The partnership limited by shares also appears internationally, for example as a “commercial partnership limited by shares” in English-speaking countries or as a “société en commandite par actions” in France.

International distribution of the KGaA:

  • Anglophone region: Commercial partnership limited by shares
  • Belgium: Commanditaire vennootschap op aandelen (CommVA)
  • Denmark: Partnerselskab (P/S) or Kommanditaktieselskab
  • Germany: partnership limited by shares (KGaA)
  • France: Société en commandite par actions (SCA)
  • Italy: Società in accomandita per azioni (S. a. p. A. / S. A. A.)
  • Iceland: Samlagshlutafélag (slhf.)
  • Netherlands: Commanditaire vennootschap (CV)
  • Poland: SpóÅka Komandytowo-Akcyjna (S. K. A.)
  • Portugal: Sociedade em Comandita por acções (SCA)
  • Spain: Sociedad comanditaria por acciones

Legal form variant Kapitalgesellschaft & Co KGaA – General partner as legal entity

Sometimes different corporations also appear in combination with a partnership limited by shares (KGaA). For example, family businesses occasionally organise themselves as a Gesellschaft mit beschränkter Haftung & Compagnie Kommanditgesellschaft auf Aktien – in short: GmbH & Co KGaA. In this case, they form a stock corporation in the legal sense – however, the general partner as personally liable shareholder is not just any natural person, but specifically a limited liability company (GmbH). If the general partner is instead embodied by an AG, it is referred to as an AG & Co KGaA, and in the case of a Societas Europaea, as an SE & Co KGaA.

More about the individual hybrid forms:

CEWE Stiftung & Co. KGaA is a special case: In this company, the general partner is embodied by a foundation. In principle, the partnership limited by shares is possible in all conceivable combinations, as GUB Investment Trust KGaA points out as an example.

Continue reading here on the topic of setting up a family foundation:

Foundation, company name & organs of a KGaA

The formation process of a partnership limited by shares is based on the formation process of stock corporations. Accordingly, a KGaA is considered a legal entity and can only participate in legal transactions through its executive bodies. Unlike the conventional stock corporation, however, this legal form does not provide for a management board as the governing body, so that the governing bodies of a KGaA are limited to the general meeting – consisting of the total of the limited liability shareholders – and the supervisory board. The management authority and the power to represent the company externally are incumbent on the general partners as personally liable partners.

You can find out here how the process of founding an AG works in detail:

A personally liable partner can be either a natural person or a legal entity, which limits his liability to the business assets of the corporation and cleverly avoids personal liability. The limited partners or limited shareholders can also be natural persons or legal entities and are in any case only liable to the extent of their respective share contribution.

To set up your KGaA, you also need the following in brief: a tax identification number (tax ID); the confirmation of registration from the Trade Licensing Office; the shareholders’ agreement aka articles of association together with notarial certification; 50,000 euros of share capital; and finally the entry in the Commercial Register under the company name you have chosen plus the legal form suffix “KGaA”.

Examples of KGaA companies:

  • Merck KGaA
  • MERKUR PRIVATBANK KGaA

Limited partner & general partner: A question of liability

What is a limited partner and general partner? This is a question many people ask themselves when they first hear about the special characteristics of a limited partnership. This is because, unlike all other partnerships, the partners in a limited partnership are clearly divided into general partners and limited partners. Therefore, a single individual or legal entity can never be a general partner and a general partner at the same time.

Usually, general partners are the personally liable partners of a limited partnership. In a partnership limited by shares, too, a distinction is made between general partner and limited partner, the latter being contextually referred to as limited shareholder. The general partner bears the full risk as a general partner: as with the conventional KG, he is also jointly and severally liable, directly and without limitation with business assets and private assets. The liability risk of the limited shareholders, on the other hand, is limited only to the amount of the mandatory sum that they paid in as a limited partner contribution in the form of shares when the KGaA was formed.

Financing & profit distribution

The financing of a KGaA is advantageous compared to the conventional limited partnership, as equity capital can be raised more easily. Overall, as with the AG, a share capital of 50,000 euros or more is required. With regard to the distribution of profits and loss sharing, there are no special regulations compared to the conventional KG: Either the legal principles come into play or corresponding specifications have been anchored in the articles of association. Profits are distributed in principle to 4 per cent of the capital share plus additional profit “in the appropriate relationship”. Losses are also shared appropriately.

Taxes for company & shareholder: separation principle & transparency principle

Like all other forms of corporate law, the partnership limited by shares is generally liable to pay taxes. It is considered an independent tax subject with regard to corporate income tax and trade tax; all natural persons in the partnership are usually subject to income tax.

Due to its hybrid form, however, special regulations apply to the KGaA under tax law: the taxation of the company itself is based on the separation principle, the taxation of the limited liability shareholders is also based on the separation principle and the taxation of the general partners is compulsorily based on the transparency principle. In the case of taxable turnover, the KGaA is always subject to turnover tax.

Taxation of the KGaA – separation principle

As a corporation and legal entity, the partnership limited by shares is generally subject to corporate income tax. Insofar as the KGaA exercises its management and/or its registered office in Germany, it is deemed to be subject to unlimited corporate income tax and must pay tax on its entire global income accordingly. In the case of foreign management and/or foreign registered office with domestic income – for example from a domestic permanent establishment – the KGaA is deemed to have limited tax liability.

The profit of a KGaA is determined by means of a comparison of business assets. For the taxable income, on the other hand, a special provision applies with regard to deductible expenses, which is anchored in the German Corporate Income Tax Act (Körperschaftsteuergesetz, KStG) – the corporate income tax of the KGaA therefore only applies where income is attributable to the share capital, i.e.: the profit shares of the limited liability shareholders. The profit shares of the general partners as well as their management remuneration are deducted in advance and can be deducted as operating expenses. They do not come into play in the calculation of the KGaA’s income, but must be taxed by the general partners themselves.

Excerpt from the law – Section 9 (1) no. 1 KStG:

in the case of partnerships limited by shares and comparable corporations, that part of the profit which is distributed to personally liable partners on their contributions not made to the share capital or as remuneration (bonus) for management;

The KGaA must pay trade tax as an entrepreneur, regardless of its hybrid structure. Thus, the determined profit from business operations – increased and decreased by the amounts specified in the Trade Tax Act (GewSt) – is understood as the trade income of the KGaA. The amounts previously calculated for corporate income tax purposes for profit shares and management remuneration of the general partners are now added back to the calculated profit from business operations, thereby ensuring that no amounts escape taxation through trade tax.

Taxation of the limited liability shareholders of the KGaA – separation principle

As natural persons, limited shareholders do not have to pay corporate income tax. Therefore, their profit shares and any management remuneration are settled via the partnership limited by shares itself. Like their counterparts in the conventional limited partnership, they are subject to income tax in the event of a dividend distribution. If they hold limited partnership shares as private assets, they generate income from capital assets in accordance with the German Income Tax Act (EStG).

Taxation of the general partners of the KGaA – separation principle

General partners are taxed like co-entrepreneurs for the purposes of tax law. In this context, they are not to be regarded as co-entrepreneurs, but merely treated as co-entrepreneurs – a small but significant difference… especially in terms of “taxes”! As natural persons, general partners are subject to income tax as normal and must pay tax on their income from business operations.

In contrast to the limited liability shareholders, general partners are required to pay corporate income tax: Their profit shares and any management remuneration are deducted from the KGaA’s income to be determined and charged directly to the general partners. The corresponding amounts must be taxed as part of the income tax return.

Partnership limited by shares (KGaA) – For whom is it worthwhile?

The possibility of easy capital procurement is certainly one of the reasons for founders of new businesses to opt for the formation of a KGaA. In addition, the partnership limited by shares has a high resistance to takeovers, which is why the individual partners can contribute personally and maintain their entrepreneurial commitment despite high capital contributions. The sometimes high liability risk of the general partner can be absorbed by the clever positioning of a GmbH or AG as a personally liable partner.

So who is the partnership limited by shares suitable for? This legal form is worthwhile for start-ups that cannot avoid external financing, but do not want to make any concessions with regard to their decision-making authority as well as the management of their company. The special legal form of the KGaA provides family businesses with a company in which control does not have to be transferred to outside hands as soon as share capital is issued as shares.

Alternatives to the KGaA: Legal forms in Germany

Legal forms – What types of company are there? If you want to start your first company, then choosing the ideal legal form is one of the first steps in the process of setting up a company. Whether it’s a special real estate company or a start-up, I’ve summarized all the types of companies in Germany for you here.

Company types in detail:

]]> GmbH & Co OHG – formation, management, liability & Co https://lukinski.com/gmbh-co-ohg-formation-management-liability-co/ Tue, 16 Mar 2021 13:00:23 +0000 https://lukinski.de/gmbh-co-ohg-formation-management-liability-co/ GmbH & Co OHG – The GmbH & Co OHG is a German legal form which combines the corporate legal form of the general partnership (OHG) with a limited liability company (GmbH). Thereby the biggest advantages of both legal forms – the uncomplicated foundation typical for the OHG as well as equality of all partners plus the limitation of liability of the GmbH – intertwine and enable an innovative, new form of organization for business founders. You want to found your own (real estate) company? Here you can find all types of companies and legal forms in Germany.

GmbH & Co OHG – formation, financing, liability & Co

The general partnership – OHG for short – is one of the so-called full companies and, as a partnership, is subject to the German Commercial Code (HGB). The formation process for this legal form of company is quite uncomplicated, as it can be formed informally and requires a minimum of only two founding members. It can be formed by both natural persons and legal entities. A maximum number of permissible shareholders is not specified by law.

If the personally liable main shareholder of an OHG appears as a limited liability company (GmbH) or if no natural persons but exclusively legal entities are liable in the company as a whole, a so-called Gesellschaft mit beschränkter Haftung & Compagnie Offene Handelsgesellschaft – in short: GmbH & Co OHG – is formed. But be careful: While the GmbH represents a legal entity by virtue of its legal form, a GmbH & Co OHG does not have its own legal personality and is always considered a partnership!

Other typical partnerships:

Foundation & Company Name

The formation of a GmbH & Co OHG requires at least two persons, with at least one of the two appearing in the form of a GmbH. A common scenario sees both founding members as limited liability companies that join together to form a GmbH & Co OHG for a joint project. In any case, all legal entities of the company act as general partners.

If you are starting from scratch, you first need to set up a limited liability company. To do this, you need the following in a nutshell: a natural or legal person as the founder of the company; a tax identification number (tax ID); the registration confirmation from the trade office; the shareholders’ agreement aka articles of association together with notarial certification; 25,000 euros in share capital; and finally the entry in the commercial register.

You can find out how the process of setting up a GmbH works in detail here:

You have successfuly founded your GmbH? Then the next step is to set up a limited liability company (Gesellschaft mit beschränkter Haftung & Compagnie Offene Handelsgesellschaft). Since the GmbH & Co OHG is a separate company, you again need a tax ID and must register the company with the trade office. Since one of the partners is a GmbH, the GmbHG also requires a minimum capital of 25,000 euros, in contrast to the conventional OHG. The establishment of articles of association is also mandatory and of course your company needs a suitable company name including the company suffix “GmbH & Co OHG”.

Management & power of representation

Insofar as no other regulation has been established in the shareholders’ agreement, each shareholder of a GmbH & Co OHG has the power of representation in the external relationship. It is possible to agree on a joint representation within the articles of association – and to enter this in the commercial register – or to withdraw the power of representation from individual shareholders. However, this restriction only applies in the internal relationship and is ineffective vis-à-vis third parties, since they cannot view the representation authority of the individual partners.

The same applies to the power to manage: In principle, all shareholders may – and should – act in a managing capacity. Deviations from the legal regulations in the German Commercial Code (HGB) are possible, but only become effective in the external relationship if a corresponding note has been entered in the commercial register and the information is thus accessible to the public. In the absence of a corresponding entry in the commercial register, a transaction is effective even if the shareholder has been excluded from management in the internal relationship.

Excerpt from the law – § 114 HGB:

(1) All shareholders are entitled and obliged to manage the business of the Company.
(2) If the management is assigned to one or more shareholders in the partnership agreement, the other shareholders shall be excluded from the management.

Business letters – offers, order forms, invoices & Co.

In business transactions, the GmbH & Co OHG is bound to a certain presentation. Thus on all business letters – as with the conventional OHG also – information must be given to the legal form addition, the company seat, the responsible register court as well as the commercial register number. Since it concerns with the partners legal entities, a GmbH & CO OHG must indicate additionally the companies of the partners together with legal form addition and further their commercial register number, the responsible register court and the registered office of the companies. The full names of all managing directors and members of the management board – as well as the first name and surname of the chairman of the supervisory board, if applicable – must also be listed on all business letters.

Business correspondence includes all written communications from a company that are specifically adressed to one or more recipients, such as order forms, solicited offers, invoices and payment reminders or dunning letters. General promotional literature and direct mail, on the other hand, are not business letters in form and accordingly do not have to contain any of the above information.

Profit distribution, loss sharing & liability

With regard to the distribution of profits and the sharing of losses, either the statutory principles come into play or corresponding provisions have been anchored in the Articles of Association. Profits are generally distributed “per capita” at 4 percent of the capital share plus additional profit. Loss sharing is also carried out “according to heads”.

A limited liability company & Compagnie General partnership is liable as a company with its business assets. In addition, the individual partners – as with the general partnership – are directly, unlimitedly and jointly and severally liable, i.e.: creditors can not only directly attack the partners independently of the causer, but in case of doubt also raise liability claims beyond the company assets, namely on the private assets of the individual partners.

If, on the other hand, shareholders of a GmbH & Co OHG appear in the form of a limited liability company (GmbH), they are liable as legal entities only to the extent of the GmbH’s capital contribution. The limitation of liability as a legal entity is one of the advantageous features of this legal form of enterprise.

Tax liability of GmbH & Co OHG shareholders – GewSt, USt & ESt / KSt

Like all other legal forms of companies, the Gesellschaft mit beschränkter Haftung & Compagnie Offene Handelsgesellschaft is generally liable to pay taxes. For commercial enterprises with an annual income of more than 24,500 euros, the trade tax obligation applies and, in principle, for all companies, the turnover tax obligation applies, insofar as the GmbH & Co OHG does not only carry out tax-exempt sales.

In addition, partnerships are generally subject to the transparency principle, which states that due to the income tax liability of the individual partners, the payment of income tax for the partnership as a whole is superfluous. Distributed profits are also taxed in the partners’ income tax return as income from business operations. However, this is based on the assumption of natural persons. Income from profits for legal entities, on the other hand, is subject to corporate income tax.

Taxes for businesses, all in one list:

GmbH & Co OHG – For whom is it worthwhile?

A significant advantage of a GmbH & Co OHG is undoubtedly the limitation of liability to the business assets of the GmbH as a personally liable partner. This means that company founders can quickly and easily get off the ground in a team on an equal footing and do not directly risk the existence of their company if an investment turns out to be disadvantageous. In contrast to the GmbH & Co KG, the equal cooperation of the partners is particularly important here and strong hierarchies corresponding to the limited partnership are avoided.

So who is the GmbH & Co OHG suitable for? This legal form is worthwhile for start-ups who would like to set up their business as a partnership without having to forego the special liability restrictions of a GmbH. A GmbH & Co OHG is also conceivable as an asset-managing company and for family businesses.

Alternatives to the GmbH & Co OHG: Legal forms in Germany

Legal forms – What types of company are there? If you want to start your first company, then choosing the ideal legal form is one of the first steps in the process of setting up a company. Whether it’s a special real estate company or a start-up, I’ve summarized all the types of companies in Germany for you here.

Company types in detail:

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