Living in the Königsallee: Attractive place to live in Düsseldorf

Noble boutiques, well-kept parks, gastronomic variety and first-class cafés – this is what one of Germany’s most exclusive luxury streets is known for. Berlin has the Kurfürstendamm, Düsseldorf has the Königsallee. Locally situated in the centre of the fashion and media metropolis, Königsallee is characterised by its high quality of life and safety. Düsseldorf’s renowned universities, the most famous hotspots and the city’s business centre are also not far away from here. This is appreciated by investors and entrepreneurs as well as families and single people. .

Welcome to the city centre

The famous Königsallee is located in the city centre of the media metropolis Düsseldorf, and is bordered to the east by the two popular residential areas Altstadt and Carlstadt. The city districts of Oberkassel and Golzheim are also not far away by car. With a population of just under 15,000, the city centre is considered one of the most densely populated parts of the city. This economic centre of Düsseldorf is not only home to the luxury shopping street Königsallee, but also to a large number of offices and international companies.

Here is the map at a glance:

The Kö: Map & Location

The “Kö” as it is also affectionately called by Düsseldorfers, begins at the Hofgarten in the north of the district and ends south-west at Graf-Adolf-Platz. Here you will find a variety of exclusive boutiques, delicious restaurants and historic coffee houses. The Kö-Graben and the local trees also contribute to the unique flair of the street.

Noble boutiques, gastronomic variety & prominent neighbours

The Kö stands for pure luxury. Sparkling diamonds, eccentric haute couture and exclusive prêt-à-porter of the luxury jewellery and fashion world can be found here. Five-star restaurants and gastronomies awarded with the Michelin Guide are also at home here. So it is not only tourists from all over the world who are drawn here, but also international celebrities who drop by at each of the many exclusive events on the Kö.

Sightseeing: Tour of the Königsallee

Fancy a little sightseeing? The Königsallee in Düsseldorf is very easy to reach by public transport due to the many underground stations and bus stops. Once arrived, you can stroll quite relaxed on foot over the Königsallee. Join us here on a tour of Düsseldorf’s most expensive street!

North of Königsallee: Stadtgraben, Tritonenbrunnen & Co.

Between the two boulevards of the Königsallee is the Düsseldorfer Stadtgraben, which is also called the Kö-Graben by the residents. Start in the north of the Königsallee you can not only admire the local Indian collared parakeets, which are at home in the plane trees at the Stadtgraben, but also a variety of sights, such as the Tritonenbrunnen.

In addition to the “Schlanke Else”, the Tritonenbrunnen is also considered a landmark of the Kö. Always in the background: the city’s most exclusive boutiques.

Louis Vuitton, Versace, Gucci & many more: Exclusive boutiques for him and her

As one of the most famous luxury streets in the world, Königsallee is home to many luxury brands in the fashion industry. Paris, Milan, Shanghai or New York City – the biggest designers from all continents are represented here. Local boutiques include Gucci, Versace, Louis Vuitton, Hermés, MaxMara and many more!

See for yourself here in Streetview:

Real estate & prices per square metre in Königsallee

The real estate market in Düsseldorf is booming. Not only the demand is high, but also the supply. This is also reflected in the property prices in Düsseldorf. Especially apartments enjoy great popularity. Whether you are an investor, a student or a family – if you live in Königsallee you are always just a few steps away from the colourful big city life. And this is also reflected in the prices.

Learn more here! Düsseldorf: Most expensive streets

Prices per square metre for apartment, house & land: buy and rent

You would like to invest in a property as a capital investment? Then you can buy a property or an apartment building to rent it out lucratively. Or do you prefer to live in rented accommodation? Whether renting or buying – there is room for everyone in the Kö! Currently, houses are selling for an average of 4,350 euros per square metre. Depending on the type of apartment, you can expect to pay around 3,900 euros per square metre for a condominium.

Summarized here:

• Buy a house: 4.350 €/m²
• Buy apartment: 3.900 €/m²

The trend also shows that new-build apartments are currently far more expensive than older buildings. The record for the most expensive apartment sold in Düsseldorf is 18,000 euros per square metre!

Record price for the most expensive apartment in Düsseldorf: 18,000 €/m²

Spacious apartments in particular enjoy great popularity in Königsallee:

Rent for 23,000 euros a month: Exclusive apartments in Königsallee

Old building apartment with high ceilings and polished package, spacious loft with a view of the Düsseldorf skyline or upscale maisonette with marble – the apartments near the Kö are among the most luxurious properties in the whole city. Especially apartments are popular here. After all, the city center is densely populated and so between the wild nightlife, cozy coffee houses and posh boutiques not enough space for large houses.

Especially apartments are in demand in the Königsallee!

While restaurants, cafés and shops are located on the lower floors of the elegant houses, the upper floors are used for offices and medical practices. So most of the apartments are located in the side streets of the Kö, just a few metres away from the hustle and bustle. But if you look closely, you can also find a few hidden exclusive penthouses here and there. In order to protect the privacy of the residents here, many property sales here take place off market. No wonder: After all, rent of up to 23,000 euros per month is paid here in some cases.

Conclusion: Living in the Kö

The Königsallee is centrally located. It is considered to be one of the most exclusive shopping streets in Europe and inspires with its multitude of luxurious fashion shops, historic coffee houses and exclusive restaurants. The popularity and uniqueness of the boulevard is also reflected in the purchase and rental prices. Properties in the Kö regularly achieve top prices of up to 18,000 euros per square metre! If you would like to live in the Königsallee, we recommend that you seek the advice of a competent real estate agent. A real estate agent will not only guide you through the entire buying process, but will also advise you on the topics of financing, taxes & Co.

Düsseldorf: Real estate in the metropolis on the Rhine

Düsseldorf has a fascinating attraction. Although the Rhine metropolis Cologne is only a few minutes away, you can find the big luxury boutiques, international companies, advertising agencies and many other interesting industries here. The fashion industry in particular has made Düsseldorf a very international, stylish location. If you are looking for beautiful real estate here, maybe even luxury real estate, you will find it.

Real estate in Düsseldorf

Düsseldorf stands for luxury, shopping and an internationally positioned local economy. High-fashion companies have their headquarters here, but also the state government of NRW. The Düsseldorf real estate market is therefore highly sought after. The city is located in the heart of the state of North Rhine-Westphalia. The state capital is divided into several districts and is very popular with property buyers due to its charming location on the Rhine.

• Real estate Düsseldorf

Living in Düsseldorf: Popular districts & residential areas

With just under 640,000, Düsseldorf is one of the largest cities in the Rhineland and home to Germany’s third largest airport, after Munich and Frankfurt. With its authentic charm, the city attracts businesses from all over the world. This international audience not only demands places to go out and work, but is also always on the lookout for the right apartments. Whether it’s the Old Town, Oberkassel or Golzheim – everything about the city’s most popular residential areas and the most expensive streets in Düsseldorf, including tips on location, property prices in Düsseldorf & Co. To the overview: Living in Düsseldorf.

• Old Town
• Oberkassel
• Golzheim

House, apartment and land for sale in Düsseldorf

A wide range of shopping facilities, a large selection of restaurants and the modern infrastructure make Düsseldorf a sought-after city for property buyers in the long term. Would you like to sell your apartment, your property or your apartment building here? Whether historic Old Town, luxurious Pempelfort, exclusive Carlstadt, magnificent Oberkassel or sought-after Golzheim – with our guides to the sales process, property valuation and the most important documents, you are very well prepared for your property sale. To the overview: Selling real estate in Düsseldorf.

• Carlstadt
• Golzheim
• Pempelfort
• Oberkassel

Living on Kurfürstendamm: An attractive place to live in Berlin

Kurfürstendamm is considered one of the most historic streets in Germany. Everyone feels at home here – from curious tourists to families with children to Germany’s most famous faces from film, television, musk and sport. The Kurfürstendamm not only inspires with its prime location, but also with the multitude of top-class boutiques and the excellent gastronomy. The popularity of this residential location can also be seen in the rising prices per square metre. More about how the most expensive apartment in Berlin was sold here at over 8 million euros later.

Welcome to the heart of Charlottenburg

Berlin’s legendary Kurfürstendamm is located in the middle of the trendy district of Charlottenburg-Wilmersdorf. It is not only home to Berlin’s most exclusive shops and famous restaurants, but also to the sought-after residential areas of Halensee, Grunewald, Charlottenburg, Wilmersdorf and Schmargendorf. It is not only the excellent infrastructure that makes Charlottenburg one of the most attractive places to live in the city, but also the large number of opera houses, theatres, sights and cultural institutions. The well-kept green spaces and parks also contribute to the flair of the residential area. The popular districts of Schöneberg, Pankow and Prenzlauer Berg are also not far away by car.

Here is the location of Charlottenburg:

Kudamm: Map & Location

One of Berlin’s most famous streets, Kurfürstendamm (or Kudamm, as it is often affectionately known) connects the two districts of Charlottenburg and Grunewald. The variety of shops, cafés, restaurants and attractions delight residents and tourists alike, while the local zoo invites you to spend a relaxing afternoon away from the hustle and bustle of the city.

Infrastructure: Bus, train & Co.

The German capital Berlin has one of the best infrastructures in Germany. In addition to the local Berlin airport, there are also a variety of subway stations, buses and taxis. Thus, the Kurfürstendamm and the nearby surroundings are easily accessible by public transport.

Sightseeing: Tour of the Kurfürstendamm

Fancy a little sightseeing? Due to the good infrastructure of Berlin, the Kurfürstendamm is not only easy to reach by car, but also by public transport, such as bus and train. You can also take a taxi to get from A to B in a relaxed manner, and you are already well prepared for a day at the Kudamm on foot. All the important shops, stores, restaurants and offices can be reached on foot in less than an hour. In comparison, it only takes 8 minutes by car.

Café Kranzler at the underground station Kurfürstendamm

Before you set off on a stroll through the shopping street, it’s worth stopping by one of the many famous coffee houses. How fitting that the famous Café Kranzler is located right at the Kurfürstendamm subway station and at the beginning of the historic street! This coffee house is particularly popular with tourists, residents and German celebrities from film and television. The biggest sights of the street are also not far away here!

Hermés, Chanel, Louis Vuitton & Co: Exclusive boutiques for him and her

After some time you will notice: The international fashion world is also at home on Kurfürstendamm! From Valentino’s haute couture to Gucci’s prêt-à-porter, the biggest brands in Europe, America and Asia are represented here.

See more here in Streetview:

Real estate & prices per square metre on Kurfürstendamm

More and more people are drawn to the vicinity of the Kudamm. This is also reflected in the purchase prices and so there is no end in sight to the steady rise in prices in the near future. While apartments directly on Kurfürstendamm with a view of the Berlin skyline are the most sought-after, it is mainly families and couples who are drawn to the houses and villas slightly off the street.

Exclusive real estate designed by Christoph Mäckler, Helmut Jahn & Co.

If you choose a property on Kurfürstendamm, you can look forward not only to a fabulous view, but also to architectural masterpieces in a class of their own! At Kurfürstendamm old meets new and so you can find not only modern new buildings, but also breathtaking mansions of past years. Among the most popular buildings are the Kranzler-Eck on the corner of Joachimsthaler Straße, designed by the famous German architect Helmut Jahn at the turn of the century, as well as the Zoofenster – a high-rise building and hotel designed by Christoph Mäckler, which opened in 2012. Haus Cumberland is also nearby – a listed building that now serves as a commercial and residential building.

Modern and historical architecture meet at Kurfürstendamm!

See here the Kranzler-Eck designed by Helmut Jahn:

Prices per square metre for apartment, house & land: buy and rent

Since Charlottenburg is more densely populated compared to Berlin’s villa districts, such as Weißensee, it is mainly apartments for sale and rent that can be found here. From spacious lofts to exclusive apartments in old buildings – all types of houses and apartments are very popular on Kurfürstendamm. Prices per square metre for apartments here are just under 4,900 euros per square metre. The square metre prices for city villas & co. are somewhat expensive at 5,400 euros per square metre, but also offer far more space and privacy.

Reading tip: Prices per square metre in Berlin: buying & renting real estate

You are not yet sure whether you want to buy a property and prefer to rent an apartment or a house first? You can currently expect prices per square metre of between €9 and €24.

Here are all the figures at a glance:

• Buy a house: 5.400 €/m²
• Buy apartment: 4.900 €/m²
• Rent property: 8-24 €/m²

Spacious apartments in particular enjoy great popularity on Kurfürstendamm:

Apartment sold for 8.5 million euros: Luxury real estate on Kurfürstendamm

The real estate landscape of the Kudamm regularly breaks records. Did you know that the most expensive new apartment in the city was sold here? For a whole 18,200 euros per square metre, one of Charlottenburg’s most exclusive properties thus changed hands. This example shows:

The Berlin real estate market is booming!

And rightly so. After all, Kurfürstendamm is not only centrally located and offers plenty of variety. The Berlin shopping street is also considered one of the safest areas of the city, attracting more and more entrepreneurs, investors, families and singles.

Conclusion: Living & Housing on the Kudamm

So you are drawn to the capital of Germany? You want to live in Berlin and preferably centrally? Located in the popular districts of Charlottenburg and Grunewald, Kurfürstendamm has a lot to offer. It is considered a safe place to live with very good connections to schools, hospitals and cultural institutions. The variety of coffee houses, restaurants and boutiques allow for a varied everyday life and the very good location allows to participate in the colorful city life, while the many green spaces invite you to relax. Admittedly: The prices per square metre here are a little higher than in other parts of the city, but the many advantages of living on Kurfürstendamm are all worth it!

Berlin: Real estate in the capital

Capital, university city, historical stronghold and as an international location an attractive place to live for families, couples, singles and students. Accordingly, Berlin faces a continuously growing population due to immigration.

Berlin real estate market: Overview

Berlin offers everything from fashion, art, finance, start-ups, and the list goes on. There is hardly a person who would not find their passion in this city of 3.75 million. This is also evident in the sprawl of the city and the different districts. For this reason it is often described as’ many cities in one’. A walk through Berlin-Mitte is very different from Kreuzberg and Prenzlauer Berg is not often confused with Zehlendorf.

• Real Estate Berlin

Living in Berlin: Popular residential areas

We present the most beautiful districts of the German capital and tell you where you can buy the best, highest quality and most exclusive properties to set up your new home, or which districts are best suited to invest in a property as an investment. Here we present the most popular residential areas – from upscale Grunewald to charming Schmargendorf and quiet Dahlem to historic Charlottenburg. Back to overview: Living in Berlin.

• Grunewald
• Charlottenburg
• Zoo
• Dahlem
• Schmargendorf
• Prenzlauer Berg
• Kreuzberg
• Kurfürstendamm

Selling real estate in Berlin: house, apartment and land

As an international location, Berlin is an attractive place to live for people from all over the world. While the district of Wilmersdorf in Charlottenburg convinces with its well-kept green spaces, the residential areas of Prenzlauer Berg and Weißensee in Berlin-Pankow inspire with their unbeatable prices and central location. You want to sell your apartment, your apartment building or your property in the world metropolis Berlin? With our free guides and tips on the topics of real estate sales and property valuation, you are well prepared. Back to overview: Selling real estate in Berlin.

• Pankow
• Charlottenburg
• Wilmersdorf
• Friedrichshain-Kreuzberg
• Prenzlauer Berg
• Kreuzberg
• Wannsee
• Steglitz
• Schöneberg

Apartment: What do you mean by this? Features, rooms and co.

Apartments are very popular, especially for the first own apartment, but also for other apartment seekers, the small apartments are very attractive. An apartment is a small flat with only one or at most one and a half rooms. Most of the time, the apartments are modernly furnished and have high-quality equipment.

In addition to the classic apartments, there are also furnished apartments. This type of apartment is particularly popular with people who are only looking for a temporary apartment for a fixed period of time. For a fixed price, the furniture and equipment can be taken over by the owner or landlord. This amount is often added to the monthly rent.

The word apartment is also used as a synonym for a holiday home.

Are you looking for a suitable apartment – whether as a tenant or investor? Then take a look at our guide to apartment types A-Z!

Room layout and sub-types: Single & Studio Apartment

The occupant of an apartment usually has 1-1.5 rooms of living space available, the square footage of the area is a maximum of 50 square meters. More expensive properties with luxurious furnishings can also have an area of up to 100 square meters.

Not all apartments are the same. A distinction is made between a single apartment and a studio apartment. The single apartment is a common one-room apartment, where the living room and bedroom are in the same room. The kitchen can be located in a separate room or as a built-in kitchenette in the apartment. The bathroom is located in a separate room.

The Studio Apartment is similar to the Single Apartment. In one room you will find the sleeping and living area. The difference between the two apartment types is the kitchen. Many studio apartments have a communal kitchen that is used by several residents of the house. However, the kitchen can also be installed in the form of a compact kitchenette in the living room. The bathroom facilities are also located in a separate room.

Advantages vs. disadvantages of an apartment: cost, size & demand

Apartments offer their users and owners a handful of advantages and disadvantages, according to which it must be decided whether an apartment meets the current housing needs and requirements. Thus, size, price and other aspects may be advantageous for some people, and disadvantageous or irrelevant for others.

Advantages: Inexpensive and furnished apartment for temporary living

Of all the advantages of an apartment, the cheap costs may be the biggest advantage of an apartment. Likewise, the ancillary costs are in the manageable range. For apartment seekers who are only looking for temporary accommodation, an apartment is also suitable.

Furnished apartments are particularly attractive for students who are looking for a cheap apartment near the university. Apartments for rent are best suited for interim rentals.

• Favourable rental or purchase price
• Manageable additional costs
• Temporary accommodation (if necessary also furnished)
• Suitable for renting and interim renting

Disadvantages: High demand of the apartments on little square meters

The small size of an apartment may be the biggest disadvantage of an apartment. Due to the small square footage, this type of apartment is only suitable for single people and not for couples or families. Apartments are very popular and there is a high demand for them. Knowing this, the apartment search should start early as getting an appointment to view can take weeks or months. Another negative aspect is that most apartments do not have a garden, terrace or balcony.

• Small size
• Only suitable for one person
• High demand
• Mostly no balcony, garden or terrace

What you should consider before buying/renting an apartment

There are many things to consider when buying or renting an apartment. Starting with the location of the apartment to points such as obligations as a tenant. The most correct point of an apartment are probably the costs incurred. Here it should be noted to have all costs in view (eg heating costs) and to be clear about the final amount to be paid. Points such as the rental period should also be specified in the contract.

Decisive for the choice of an apartment is the location and surroundings of the apartment. Transport connections and infrastructure should definitely be checked before moving in. Cellar, parking space & garden – many take these things for granted, but especially with a small apartment, premises such as the cellar should not be forgotten during the viewing. Upcoming duties such as cleaning the staircase or shovelling snow should also be clarified in advance. Pet owners should also ask whether pets are allowed in the apartment.

You already have a property and want to sell it? Our recommendation: Sell your apartment!

Who is an apartment suitable for: Apartment for singles, students & seniors

A key feature of an apartment is its small size, which is why apartments are particularly suitable for single people. The target groups of an apartment are both young and old. Low-income earners such as students or pensioners benefit from the low price of the apartment type.

Singles: low rent for own 4 walls

Especially in large cities, the housing demand is great, many single people are here looking for apartments. In addition to one-bedroom apartments are here especially 2-bedroom or multi-room apartments. For young working singles, settling in an apartment would be just the thing. The offer of apartments is particularly large in the big cities. Due to the low rental price, money can be set aside and saved, which can be used for leisure activities or saved for a more expensive property in the future.

Students: Privacy, Personal Responsibility & Self-Reliance

In addition to shared rooms and rooms in student dormitories, apartments are a cheap alternative for students who usually only have a low income. Your own apartment offers students and trainees privacy, but also a great deal of personal responsibility. Basement apartments are also ideal for students. This type of apartment is usually less expensive and is located in the middle of the city centre.

Seniors: Use of the good infrastructure (specialists, retail & Co.)

Another big target group for an apartment is seniors. Older people who used to live in the suburbs are now returning to the big city. This move is often justified by the better infrastructure in the city. Specialists, grocery stores and pharmacies are located in the immediate vicinity. For seniors without a partner, a barrier-free one-room apartment on the ground floor is best suited. Did you know that loft apartments are also ideal for seniors? Due to their one-storey nature, barriers such as stairs are eliminated, which minimises the risk of injury.

Viewing appointment: checklist & info

Before you go to view your dream apartment, there are a few things to consider. From a well-groomed first impression to questions from the landlord/agent: This checklist should help you avoid mistakes and keep the most important points in mind.

• Well groomed and professional appearance
• Punctual appearance
• Bring a companion
• Daylight viewing
• Consider & ask questions (pets, utilities, responsibilities, etc.)
• Bring personal documents (identity card, proof of income, employment contract, etc.)
• Prepare for possible questions from the landlord/agent
• Look out for defects (mould, plaster, flooring etc.)
• Take photos of the object
• Thinking about/allowing time for the decision for the apartment

Financing & investing in your condo

An important point is the financing. Whether through equity or a loan. Special construction loan calculators can determine the construction interest rate of the apartment. However, it is advisable to still invest at least 20-30% of your own capital in the property. The higher the percentage of equity, the lower the conditions and you benefit from lower interest rates.

For those who want to invest in real estate, but do not have a lot of money available, an apartment should be the right solution. For an apartment does not have to invest as much money as in a large apartment or even a house. Since there is a great demand, a tenant can be found quickly.

Tip! In the comprehensive article Real Estate Financing you will find tips on loans, interest rates & Co.

Review purchase contract / lease agreement: List

The contract, regardless of whether it is a purchase or a lease, seals the deal and should therefore be reviewed. If this is not done, the buyer and tenant can fall into traps with serious consequences. It should contain all the terms and conditions that must be fulfilled by both parties.

Contents that should be defined in any case are:

• Personal details of the two parties buyer and seller
• Object of purchase
• Property Description
• Purchase price and terms of payment
• Real estate transfer tax
• Date of transfer of the property and economic transfer
• Buyer’s right of withdrawal in case of hidden defects
• Leases and tenancies
• Conveyance
• Lasting power of attorney
• Pre-registration
• Agreements on renovations or interior
• Other points

Buying an apartment: costs, estate agents & renting

Buying an apartment is no small matter and requires a lot of time to think and good preparation. Anyone who has finally decided to invest in a property is faced with new tasks. There are many things to consider in order to avoid mistakes from the outset. In the comprehensive article on buying a flat you will find tips and explanations on topics such as costs, estate agents, renovation and renting, in order to make the purchase of your condominium as smooth as possible. The timing of the investment is also discussed here.

• Buy apartment
• Rent out an apartment or house

Checklist for your apartment: rental period, price & etc.

In order not to lose the overview, a checklist should be made for the new residential property. This will be the optimal orientation guide and contains all the important information. If you have these factors in mind and all the necessary points are met, then nothing stands in the way of buying or renting your apartment.

• Rental price
• Rental period
• Additional costs
• Design of the kitchen (kitchenette, communal kitchen, individual kitchen)
• Other rooms of the apartment
• Duties within the tenancy

What is a granny flat? Definition & criteria

According to § 11 of the German Housing Act, a granny flat is defined as such if the flat is located in an owner-occupied house and if it is of subordinate importance compared to the main flat. If this subordination does not apply, this is referred to as a two-family house. Even if the granny annexe has to play a subordinate role in the house, the rule applies that the criterion of autonomous running of the household must necessarily be met. If this does not apply, one does not speak of a granny annexe, but of a room rental.

A large and decisive role in the definition plays the apartment access. The apartment access of a granny flat must not be accessible from the outside. The only access to the apartment may be via the staircase or a vestibule. Architecturally, the granny flat is usually located in the attic or basement of the house. Optionally, furnished or unfurnished apartments are offered for rent. This additional payment for furniture can be made as a one-time deduction or included in the rent on a monthly basis. Domestic duties must also be stipulated in the contract, including, for example, participation in garden maintenance or winter service.

Are you looking for a suitable apartment – whether as a tenant or investor? Then take a look at our guide to apartment types A-Z!

Room layout and use: office, hobby room or subletting

Apart from the condition that independent household management is possible in the granny annexe, there are no specific requirements or provisions for the room layout. The size and number of rooms is flexible and individual in each granny flat. The only requirement is the total minimum of 25 square meters. Depending on the agreement between landlord and tenant, the outdoor areas such as garden and terrace can be shared.

Self-employed people can use the rooms in the granny flat as an office or workshop. This way, the workplace is located in one’s own house and yet separated from the living area.

Other possible uses of a granny flat include using the premises as accommodation for guests or using them as premises for hobbies and leisure. Fitness rooms, wellness paradises or hobby workshops are popular possibilities.

Advantages and disadvantages granny flat: price, privacy & cancellation

For both parties, as tenant and landlord, a granny flat brings with it many different advantages and disadvantages. When living together with another household, clear rules must be established and taken into account. In the following two sections we point out various pros and cons of this type of apartment.

Pros: Low price, high retail value & social contacts.

Living in or owning a granny flat brings with it a great number of benefits for both parties. The owners of the house benefit in that money can be made from the otherwise unused space. The extra earnings can be saved and used as retirement savings. This housing option is particularly popular with a multi-generational household. Although the children do not have to move out of the parental home, they are given a great deal of privacy by the granny flat and can live independently.

Higher income can be achieved if the entire house is rented out instead of the apartment and the granny annexe is occupied by the owner. A granny flat also increases the value of the house when it is sold. A granny flat can also offer tax advantages. A reduction in the tax burden and deductible costs are also among the positive aspects.

Apartment hunters find a granny flat to be a cost-effective alternative to a conventional one- or two-bedroom apartment.

• Low rental price
• Only consideration for a neighbor
• Mostly shared use of garden
• Often already furnished
• Social contact & neighbourhood help
• Additional income for the landlord
• House has higher sales value
• Ideal for several generations living together
• Costs can be deducted from tax if applicable

Disadvantages: Lack of privacy, notice period & co.

The biggest disadvantage of a granny flat is the restriction of the privacy of both parties. Both the occupant of the granny annexe and the occupant of the house lose privacy because the entrance to the granny annexe is located in the house and the occupant of the house has to cross the living quarters of the granny annexe each time he or she enters or leaves the house.

It can be problematic for landlords, since a granny annexe has an extended notice period. This can be particularly difficult if there are problems with the tenants or delays in payment.

• Limited privacy for both parties
• Extended notice period
• If necessary, smaller size than normal apartment
• Participation in garden maintenance and winter service
• Good relationship with the counterparty is an advantage

Rentals & Tenants: Suitable for families, students & single people

Due to the many advantages, granny flats are attractive for many target groups. Especially families of several generations find a granny flat a perfect solution for living together under one roof. Several generations can live under the same roof, but the separate granny flat provides privacy within a household with its separation. Professionals who work privately in a household such as carers or au pairs will find this type of apartment an attractive solution. This would save the commute to work if the employer lives in the same house.

Single professionals: low rent & neighbourhood help

Single people can benefit especially from the lower rent. Young working adults should not be put off by living with another household, but should use this as an opportunity to make social contacts and benefit from communal evenings and neighbourly help.

Students & Trainees: Alternative to WG room & student dormitory

As an alternative to a shared room or a room in a student residence, a granny flat is an option for many students and trainees. Cheaper than an apartment and a greater degree of privacy than in a shared room. Due to the location in the attic or basement, the young adults can retreat to study and enjoy enough free space.

Families of several generations: enough space for several relatives

Families can settle down perfectly in a detached house with a granny annexe. Several generations of a family can live together under one roof and still have possibilities to retreat through the separate apartment. Adult children or grandparents can find a place of privacy and retreat in the granny flat. Another solution for several generations in one house would be a basement apartment. This is located in the basement rooms and is ideal for young adults or even seniors.

What you should consider before buying/renting a granny flat

Before entering into a tenancy for a granny flat, both as tenant and landlord, some important points should be clarified with the other party.

One of these important points are the vulnerable operating costs. It should be noted here that these are only charged as a percentage of the living space. The better alternative would be to integrate a separate water meter as well as gas and electricity meters. Additional costs incurred by repairs carried out by tradesmen are also divided between the two parties. In some cases, there are also additional monthly costs for the landlord’s furniture.

A granny flat in a new development is particularly attractive for purchase. A large number of builders who need capital to finance their own house turn their basement into a basement granny flat and offer it for sale. The purchase price of this is usually in the low price segment and is significantly cheaper than a normal apartment. It is therefore also suitable as an investment for life in advanced age.

• Operating costs incurred
• Additional costs for a furnished apartment
• Purchase recommendation for granny annexe in new development area

Tip. Read more about buying and renting an apartmenthere

Viewing appointment: Questions, photos, appearance – checklist

A sympathetic appearance and a friendly first impression are particularly important in the case of a granny flat, as you have to live under the same roof as the landlord. Accordingly, you should make a special effort to maintain a well-groomed appearance, a confident presence and good preparation at the viewing appointment. Already in advance, emerging questions should be considered and noted, so that in the end no important point is omitted.

Any personal documents such as identity cards as well as proof of income should also be brought along without being asked. All usable premises should be viewed and best documented by means of photos.

• Sympathetic & professional appearance
• Any important questions & points should be noted down
• Bring personal documents
• Documentation through photos

Financing & Investment: Loans, Credits & Equity

The income from renting the granny flat can be used, for example, as financing for the newly built house. Loans from the KfW are granted per residential unit. Since a single-family house with a granny annexe is two residential units, two loans are granted here accordingly. If the house meets the energy standards for energy-efficient construction, a low-interest loan of up to €120,000 can be granted by the KfW.

• Real estate financing: loan types, interest rates, comparisons & Co.

Checklist for granny flat: rental period, operating costs and co.

Living in a granny flat brings some special points to the fore due to the immediate cohabitation, which must be taken into account. During the inspection of the apartment, relevant questions can be clarified directly with the landlord. During this personal meeting, it can also be determined whether a tenancy is even an option for both parties, since tenant and landlord live together in close quarters.

Here we point out the most important questions you should ask yourself before you sign the lease of the granny flat:

• Possible rental period?
• Square footage?
• Basement or attic?
• Access to the apartment?
• Furnishing the bathroom?
• Kitchen equipment?
• Premises to be used?
• Separate water meter, gas meter and electricity meter?
• Sufficient sound insulation?
• Relationship with the landlord?
• Furnished or unfurnished?
• Contractual domestic duties such as participation in gardening and winter maintenance?
• Shared use of household appliances and outdoor areas?

Tips & tricks: sale, rental agreement, financing, taxes & Co.

There is more to buying, selling or renting a property than just raising the purchase price. Selection, valuation, purchase, processing, costs and so many more topics come up. Here you will find a selection of useful information and further articles on the topics of rental/purchase agreements, taxes and the purchase of real estate. Avoid typical mistakes of buyers and sellers with these tips and become successful with your property!

Review Purchase Agreement: Terms & Hidden Costs

In the lease or purchase agreement, all general conditions and terms are stipulated, which both party partners must adhere to in the purchase process.

An important point that must be recorded in the contract is the participation in domestic communal duties. This includes, among other things, participation in garden maintenance and winter service. All costs incurred, including additional costs, the charging of operating costs as well as costs that are added for the furniture of a furnished granny flat. Read more about buying an apartment in this article:

• Buy apartment

Save taxes with a granny flat

In order to be able to save tax on a granny annexe, the subordination to the owner-occupied home must be clearly recognisable, because the tax advantages in German tax law only apply if it is not a two-family house.

If costs are incurred in the construction of the granny annexe that can clearly only be attributed to the granny annexe, these costs can be deducted from the tax. An example of this is the installation of a kitchen. A reduction in the tax burden can be achieved, but the condition for this is that the rental income is also taxed.

• Save taxes with real estate

Buying Land: Builders, Search, Costs & Conditions

Before it comes to the construction of the house, many builders are first of all before the purchase of a suitable plot of land. If the intention is to buy a plot of land for the construction of a new house, interested parties should make sure that this is really building land and that this is released for building. Various chapters and important information on the purchase of land can be found in the following article:

• Buy land

Berlin-Grunewald: Exclusive villa district in the west of Berlin

Berlin is not only one of the economically strongest cities in the country, but also an attractive place to live for entrepreneurs, families and students. The standard of living is high, the infrastructure good and the cityscape diverse. As a metropolis of art and culture, Germany’s capital has a lot to offer: From historical monuments to green national parks and exciting museums. It never gets boring here. The colourful city life, the growing job market and the cultural diversity make the historical stronghold of Berlin one of the most popular cities in Europe. And this is also reflected in the real estate market.

Grunewald: map and location

Grunewald is located in the west of Berlin near the popular residential areas of Charlottenburg, Wilmersdorf and Steglitz. Grunewald is particularly impressive due to its excellent location on the edge of the Havel River. The local forest and the large number of green spaces, parks, monuments and sights also add to the flair of the district.

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 are planning to buy an apartment building in order to rent it out lucratively? Also in Grunewald houses are sold for the most different reasons. Every owner wants to achieve the highest possible price for his property. A successful sale requires extensive preparations, the necessary time and a professional approach. In order to sell a property efficiently, it requires not only a lot of sales talent, but also a lot of know-how about the sales process, taxes and legal matters! You should also be familiar with your type of apartment or house.

Here you will find all the guides and tips at a glance:

• Sell apartment
• Sell house
• Sell apartment house
• Sell land
• Overview: Sell real estate

Before selling, you should first value your property:

Real estate valuation: Valuation for the sale of real estate

Real estate agencies will appraise the value of your condo or house if you hire an agent to sell your property. But why should you leave the property valuation to an expert? For one thing, an experienced real estate agent is familiar with the various factors that affect the purchase price, and for another, many buyers try to drive down the price. An experienced real estate agent can prevent this through his expertise and sales skills.

Here you can find out more about property valuation, the procedure and the most important documents:

• Rate apartment
• Rate house
• Rate apartment house
• Valuing property
• Overview: Valuing real estate

Selling property in Grunewald: documents & procedure

Whether Grunewald, Weißensee or Kreuzberg – you want to sell a property in Berlin? Selling a property requires not only a lot of time and effort, but also a lot of documents, negotiating skills and a very good organization. Learn here which documents you need, how your property is valued and which steps follow.

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

In order to sell your home, you will need some documents that show relevant data. These include:

• Energy pass
• Land register excerpt
• Floor plans and details of the living space
• Invoices from refurbishments & co.

If you have carried out energy measures or other modernisations, you should have the corresponding invoices ready for the buyer. The first step in selling a house is the valuation, and only an experienced real estate agent can do this reliably.

Valuate property & set sales price

Based on the determined market value, you set a price for your property and compile sales documents. The exposé gives interested parties as detailed an idea as possible and should encourage them to view your residential property. Ideally, you offer your home on various channels to reach many potential buyers.

Reading tip: Creating an exposé – tips

Arrange appointments for viewing

Whether it’s an old apartment in Steglitz, a villa in Grunewald or an exclusive detached house in Pankow – it’s important that every prospective buyer can view the house alone with you without being disturbed. The acquisition of residential property is often a purchase for life, it is looked at everywhere closely and asked a lot. With numerous prospective buyers, this stage of the house sale can be time-consuming, elaborate and stressful.

Select a buyer and negotiate the price

You have the task of selecting a buyer from among many interested parties with whom you will negotiate the price. Real estate is almost always negotiated, please include this fact in the pricing.Once you and the buyer are in agreement, the question of the payment method should be asked. Usually the new owner will arrange finance and provide you with confirmation from their bank if requested.

Important: Do not forget to check the creditworthiness of the prospective buyer!

Processing at the notary: purchase contract, dates & Co.

The notary is usually chosen by the buyer and you must be prepared for two joint appointments. At the first meeting, you present the documents mentioned above and discuss the contents of the contract with the notary. Afterwards, the buyer and the seller each receive a draft, which they can check for correct details and execution in the following two weeks. At the second appointment you and the buyer sign the agreement. After receipt of payment and some formalities, the house is handed over to its new owner.

Here is an overview of the last steps:

• Meeting with notary
• Review of the documents & the purchase contract
• Conclusion of the contract
• Verification of the receipt of payment
• Handover of the property

Conclusion: Leave the house sale to an experienced real estate agent

You now know the challenges you face when selling your home. So choose Lukinski, your trusted partner in selling real estate. At Lukinski, we scientifically value your home, create informative sales documents, use proven sales channels and find the ideal buyer. As a result, you save a lot of time and achieve the best possible price, whereby our costs are borne by the buyer in the event of success.

Berlin: Real estate in the capital

Capital, university city, historical stronghold and as an international location an attractive place to live for families, couples, singles and students. Accordingly, Berlin faces a continuously growing population due to immigration.

Living in Berlin

In Berlin, city districts are called Kiez. We present the most beautiful neighborhoods of the German capital and tell you where you can buy the best, highest quality and most exclusive properties to set up your new home, or which neighborhoods are best suited to invest in a property as an investment. We present you here the most popular residential areas. We also give you virtual insights into the most beautiful areas of Berlin.

• Living in Berlin

Sell, buy and live in Berlin

Berlin offers everything from fashion, art, finance, start-ups, and the list goes on. There is hardly a person who would not find their passion in this city of 3.75 million. This is also evident in the sprawl of the city and the different districts. For this reason it is often described as’ many cities in one’. A walk through Berlin-Mitte is very different from Kreuzberg and Prenzlauer Berg is not often confused with Zehlendorf.

Buy, rent and sell real estate in Berlin – Berlin is not only in Germany the “place to be” when it comes to real estate, in all of Europe and worldwide Berlin is known. Next to London and Paris, Berlin is the hotspot in Europe for Europeans themselves, tourists and real estate investors. Here you will find the big overview, on the subject of buying, selling, renting, investment and everything else you need to know about the Berlin real estate market.

• Real Estate Berlin