Architectural office GRAFT: extra class & future – company

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New prestigious properties are currently being built, as described in the introduction, for example for E.ON and Volocopter. For E.ON GRAFT builds at the new, large E-car charging network and designs charging stations. Another project with a great future is Volocopter, one of the first air cabs that will soon conquer metropolises worldwide. In Germany, too, air cabs are soon to take up their first test flights. But, before we take a look at individual objects from GRAFT, here’s a brief look at the company:

History, founders and establishment in LA

The architecture firm GRAFT was founded by Lars Krückeberg, Wolfram Putz and Thomas Willemeint in Los Angeles, back in 1998. Since then, many flagship projects have been built, especially in Berlin. These include, for example, the KU64 and the BRLO, here in Berlin.

Behind every great undertaking is a higher goal. For GRAFT Architekturbüro, it is said that it was founded as a label for architecture, urban planning, design, music and “the pursuit of happiness,” as it says on the architects’ website.

“the pursuit of happiness”

The founders Lars Krückeberg, Wolfram Putz and Thomas Willemeint, have GRAFT now expanded to over 150 employees, 3 of them even in Beijing. Thus GRAFT is already in the future market: China. While airports in Germany have gladly times 10 years building time, one realizes airports here 3x so largely, in 10 months building time.

Tip: Read more about Investing in China (real estate).

Interior Architecture:

Building to the heights:

Architecture firm at a glance

GRAFT company at a glance:

• Founders: Lars Krückeberg, Wolfram Putz, and Thomas Willemeint
• Founded: 1998
• Founding location: Los Angeles, California (USA)
• Headquarters: 3 continents
• Employees: 150 (as of 2021)
• Projects (new): E.ON charging stations, Volocopter

Graft about itself:

“We refuse the traditional, virtual and real boundaries in the world of work and are thus able to offer more opportunities and an ever-expanding range of solutions in our work.”

Source: graftlab.com

Awards and prizes

In 2015 alone, it rained awards, including the “Red Dot Design Award, Communication Design, Visualization for Objekt Carpet”, but also the “Iconic Award 2016, Interior Innovation, CAELA Lighting System”. The last year, with official list can currently be found from 2019. Here is a small excerpt, with other prizes and awards won by GRAFT architecture office.

Awards and prizes, excerpt 2019:

• Award German Housing, Paragon Apartments, 1st prize
• Iconic Awards 2019: Innovative Architecture, Natureisstadion Schierke, Winner
• German Design Award 2019, Natureisstadion Schierke, Special Mention

Graft in Berlin: Tour & Architecture

Let’s start a little city tour, through the districts of Berlin, or two locations with GRAFT villas.

Villa M in Grunewald: boulder, spaceship – unique

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One of the GRAFT designer villas, you can take a drive through Berlin Grunewald, one of the most exclusive districts in Berlin, visit yourself. About this property was also already reported in many, renowned real estate magazines.

In fact, compared to the others, the property is very eye-catching, because very futuristic. The property itself was built with ceramic tiles that were specially made by a company in Potsdam, so each one is truly unique.

From a distance, it looks like a boulder thrown into the plot. The geometric shape, probably makes this villa particularly interesting for men. It reminds both of the erratic block, and of a spaceship. In fact, that’s what architecture is all about:

Not just living, being! Inspiring architecture

GRAFT Villa M is a real statement in Berlin Grunewald. The object fits into the typical Berlin image, straight surfaces, facades, white walls and paints. For anyone who wants to “stand out from the crowd here”, a real investment in unique architecture.

Villa M – frontal view of the object:

Villa M – View from the garden / plot:

Villa in Inselstrasse: Hollywood star as builder

Even more imposing than Villa M in Berlin-Grunewald, however, is a property on Inselstraße. One of the most exclusive spots in Berlin, no 40 properties, private island. Here lives so to speak (also) the Who-is-Who of the Berlin economy. We do not want to name names out of discretion.

More precisely on Schwanenwerder Island, this unusual luxury villa with guest house, boathouse and over 1,000 square meters of living space, plus 10,000 square meters of land. The property here is reminiscent of a runway, extremely imposing, large, long and extends to the lake. Like the villa in Berlin-Grunewald, it stands out completely from the rest of the villas and estates in Inselstraße. No other property is so modern.

The original builder of this imposing villa (Brad Pitt), but then did not move in himself.

The villa, below the wall is water (lake), by the way:

Image credits: Wikipedia / Fridolin freudenfett (Peter Kuley), CC BY-SA 3.0

Location in Berlin:

“Charly Living”: neighborhood at Checkpoint Charlie

There are imposing buildings in the residential sector, including mixed-use properties, for example, in the middle of Berlin at Checkpoint Charlie. This quarter is home to hundreds of residential units. Thus, it is not only an architectural highlight in Berlin-Mitte, but also a place of residence for a great many people. Thus, the architectural office shows that concepts implemented in villas can also be applied in residential construction.

Still, we’re still on the “smaller” projects that the architecture firm is doing.

Future architecture: E.ON, Volocopter & Co.

GRAFT Architect will continue to set absolute standards in the future. Two absolutely distinguishing projects are currently, for example, E.ON and Volocopter.

For E.ON, the architecture firm is currently developing a wide variety of charging stations in a wide variety of environments. In the middle of the Frankfurt skyline, between skyscrapers and banks, in the countryside, right next to the highway, virtually everywhere. A complete charging infrastructure for e-cars is to be created. This will give electric car mobility in Germany a boost and thus also open up a completely new area for GRAFT, in which they are once again pioneers.

Another very interesting project, are the ports GRAFT is currently developing for the air cab provider Volocopter. Volocopter will be the first air cab in Germany and is expected to start activity in a very short time, or rather test it for the time being. The architecture firm won the competition for this worldwide project and is now developing concepts that will enable future air cabs to land on various terraces. This will then include, for example, the typical skyscraper (in Frankfurt) that can be found in any major city. Likewise, ports are built that can be used in harbors (as in Hamburg), meaning they float on water.

That was a little insight, into the work of Graft. Founded in 1998, the architectural firm has over 20 years of experience combined together, with three founders and entrepreneurs. More about the company can be found here: GRAFT Lab.

Where do the Richest People Live?

If you’re a millionaire, you want a house befitting of a millionaire. That’s why we’ve collected everything you need to know about the places with the most millionaires, the most billionaires, the most expensive cities int he world and the country. This is the definitive luxury list. London is the city with the most millionaires in the world, with 357.000, the size of a small city! Keep reading to find out where the richest of the rich buy their property…

List – Cities with Most Millionaires

One way to measure where the richest people live is to see how many millionaires live in the city. The more millionaires, the more luxurious, expensive and high class the city is bound to be. What makes up a city to have a lot of millionaires? First and foremost, a lot of people. That means that in a city with 5 million inhabitants, you’ll likely have 5 times more millionaires than in a city with 1 million inhabitants. It’s also about where there’s luxury real estate though, because millionaires want to live like millionaires.

Worldwide – Top 10 Cities with Richest People

So, without further ado, it’s time to look at the cities which are home to most millionaires. No surprise, New York is near the top with 357.000 millionaires . It’s a playground if you want to buy luxury New York real estate. The top 5 are rounded out by London at the very top, and three asian cities following. The top 10 cities with the most millionaires worldwide are:

1. London, UK – 357.000 millionaires
2. New York City, USA – 339.000 millionaires
3. Tokyo, Japan – 279.000 millionaires
4. Hong Kong, HK – 228.000 millionaires
5. Singapore, Singapore – 217.300 millionaires
6. San Francisco, USA – 180.300 millionaires
7. Los Angeles, USA – 173.300 millionaires
8. Chicago, USA – 135.000 millionaires
9. Frankfurt, Germany – 128.300 millionaires
10. Beijing, China – 122.000 millionaires

USA – Top 10 Cities with Richest People

The USA is well-represented in the top 10 cities worldwide, making up 3 of the top ten. That’s not bad. In total the USA has over 18.000.000 millionaires, more than 4 times as much as the nearest competitor, China. With this many millionaires, they have to live somewhere, a lot of them in NYC, San Francisco, and Los Angeles obviously, but where else? These are the top 10 cities in the USA with most millionaires:

1. New York City, NY – 339.000 millionaires
2. San Francisco, CA – 180.300 millionaires
3. Los Angeles, CA – 173.300 millionaires
4. Chicago, IL – 135.000 millionaires
5. Washington, DC – 120.000 millionaires
6. Boston, MA – 110.200 millionaires
7. Philadelphia, PA – 109.000 millionaires
8. Houston, TX – 98.500 millionaires
9. San Jose, CA – 90.700 millionaires
10. Detroit, MI – 90.100 millionaires

Most Popular Destinations for the Ultra Rich – Las Vegas, L.A., and more

So you want to learn more about how the richest of the rich live? Well look no further. The richest can be found in Las Vegas Bellagio Suites, Miami Penthouses, and New York Lofts. This is how the richest of the rich live.

Las Vegas – Where the Millionaires live

Las Vegas is home to the richest man in Nevada and the richest man is: Sheldon Adelson, owner of the Las Vegas Sands, a luxury resort chain. It is home to the world’s biggest and best Casinos, and some of the most prime real estate you can imagine. Las Vegas has more gated communities than water in the ocean, and each is more luxurious than the last. That makes it attractive for people looking to have some fun, but also people who are looking to invest smart.

$18.5 mil. Mansion – Villa Tour in Las Vegas

One example of a property in Las Vegas. Typical for the city: decadent furnishings, modern and sleek style, combined with lush greenery, and of course… a golf course in immediate proximity. It also has 7 bedrooms, as well as pool with its own 21 foot waterfall.

• Location: 93 Spanish Gate Drive, Las Vegas, NV 89113

What is the Most Expensive Neighborhood in Las Vegas? The Ultra Rich

It’s a bit of a complicated matter, with Summerlin and Henderson probably being the residential areas with the most >$1 mil. transactions. Although these are not strictly within city limits, we’re just going to count it as Las Vegas. So, the most expensive residential area in Las Vegas is ‘the Ridges’, located in Summerlin. Prices range from $2 mil. and $7 mil. for a house. It is also the area in Las Vegas with most house sales >$1 mil, with the most expensive on the market at the time of writing being $30,4 mil. The full list of most expensive communities in Las Vegas below:

1. The Ridges: $2.000.000 – $7.000.000
2. Anthem Country Club: $1.200.000 – $4.400.000
3. Macdonald Highlands: $1.000.000 – $4.200.000
4. Southern Highlands Country Club: $1.000.000 – $3.000.000
5. Seven Hills: $1.000.000 – $2.700.000

Las Vegas Luxury Real Estate – Property Investments in Sin City

In Las Vegas, real estate is a commodity like in any other city, except with the difference that the city is filled with people looking to make a quick buck, and ready to take a risk. What real estate is concerned it’s an interesting market, and is likely going to be a growing niche in the national markets. Learn more about the hottest neighborhoods, the best places to live, and what you have to know about Las Vegas:

Las Vegas Luxury Real Estate

Miami – Billionaire Row in Florida

Miami is a tropical mega city, and has all the luxury and decadence to show for it. From manmade islands, to the best restaurants in the world, as well as a booming arts scene, and postcard worthy views at every turn. It’s hard to top this city for atmosphere. No wonder it’s home to thousands of millionaires who happily take a seat overlooking the clear turquoise blue waters. If you want to live among the ultra-wealthy, Miami is the place to go.

Designer Mansion in Florida – Millionaire Miami House Tour

Just outside Miami is Tommy Hilfiger’s ‘Fun House’. Here, nestled between ocean and palm trees is a mansion that looks more like a luxury resort. Estimated to be worth around $25.000.000, this probably isn’t easy to purchase. But it is on the market right now! Designed by Martin Lawrence Bullard, this beach villa tour is bound to leave you speechless.

Most Expensive Areas – Where do Millionaires live in Miami?

You may have heard of millionaire’s row in Miami. But Millionaire’s Row isn’t what it used to be. Not since the 90’s have the richest people in Miami lived in this stretch on Collins Avenue between 41st and 63rd Street. Nowadays the ultra-wealthy are heading towards Indian Creek Island, where the biggest and most expensive houses can be found.

List – Where do Millionaires live in Miami?

In Miami, millionaires tend to live in a few top neighborhoods. Although arguably all of Miami Beach is a massive luxury suburb, there’s some neighborhoods you won’t believe. As mentioned the most expensive, hottest, most billionaire, CEO, model, Actor place is definitively Indian Creek Island. Also popular are the Venetian Islands, manmade islands with some of the east coast’s most exclusive properties. Another area to keep in mind: Fisher Island, another of the famous islands lining Miami’s coral-blue waters. These are the richest neighborhoods in Miami:

1. Indian Creek Island: $15.000.000 – $47.000.000
2. North Bay Road: $7.500.000 – $45.000.000
3. Star Island: $7.100.000 – $28.000.000
4. Hibiscus Island: $1.200.000 – $14.200.000
5. Venetian Islands: $1.000.000 – $25.700.000

Where to Buy Property in Miami – Real Estate Investment Florida

To make smart investments, you need to know the situation. From Florida property taxes, mortgage, renovations, etc. everything you need to know about buying a house in Miami, can be found in our article on the top investment areas for Miami. It also details real estate market explanations, and steps to buying real estate, houses, apartments, etc. in Miami, Florida’s hottest, richest, biggest, city.

Miami Luxury Real Estate

Los Angeles – Richest, Celebrities, and CEOs

Los Angeles is maybe one of the most famous cities in the world. If you want to buy real estate in L.A., you may want to look away now. L.A. isn’t just famous because it’s home to Hollywood, Bel-Air, and Beverly Hills. This mega city has everything from art, world-class restaurants, stadiums, beaches, and the list goes on. It’s truly a playground for the richest of the rich.

Top 10 Richest People in L.A. – Who are L.A’s richest inhabitants?

The richest people to live in L.A. are mostly businessmen. There are few women, and also few from the film industry. Although the famous movie director Steven Spielberg is at 12th, and music mega-producer and owner of Geffen Records, David Geffen is at 6th position. The richest people living in L.A. are Elon Musk ($197 bi0.), pharma mogul Patrick Soon-Shiong (6,9 bio.), and Sean Parker ($3 bio.). To spot for the richest people in L.A., the full list of wealthiest Angelenos:

1. Elon Musk
2. Patrick Soon-Shiong
3. Sean Parker
4. David Geffen
5. John Tu
6. Eli Broad
7. Stewart & Lynda Resnick
8. Tamara Hughes Gustavson
9. Steven Udvar-Hazy
10. Rick Caruso

Most Expensive Property in Los Angeles – Luxury Home

This massive property has been dubbed the most luxurious house in the USA. Being worth over $250 million, and including a prviate helicopter, personal chefs, masseuses, 24/7 security, and much more, it makes sense that this property is as expensive as it is.

• 21 Bathrooms
• 12 Bedrooms
• Location: 924 Bel Air Road
• Price: $250 mio.

Where do the Rich Live in Los Angeles? Most Expensive Areas in L.A.

Everyone’s heard about the mega-mansions in Beverly Hills, or the villas lining the palm-lined streets in Bel-Air. There’s probably a lot of areas you’ve never heard of though, that are home to the richest and most luxurious houses you can imagine. Topping the list, Beverly Hills with the average home here costing aroun $9.990.000. Note, if you want to buy an apartment in L.A., it won’t be this expensive! Below the list of most expensive neighborhoods in L.A.:

1. Beverly Hills – $9,99 mio
2. Bel-Air/Holmby Hills – $5.7 mio.
3. Malibu – $5,49 mio.
4. Brentwood – $4,5 mio.
5. Pacific Palisades – $4,7 mio
6. Beverly Hills Post Office – $4,4 mio.
7. Santa Monica – $3,6 mio.

Buying Real Estate in L.A. – Most Expensive

For Luxury Real Estate in L.A., for example if you want to buy a house in L.A., you’re going to want to get informed first. That’s why we have our full overview below. It tells you everything from the current state of the market, the things you should look out for, where to buy real estate in L.A., and pretty much everything else you need to know if you’re thinking about buying property in the city of angels.

Los Angeles Luxury Real Estate

New York – NYC Billionaires Real Estate

If Los Angeles is one of the most famous cities in the world, New York City is the most famous. It is synonymous with metropolis, America, and everything you could ever want or imagine exists in this mega-metropolis. It’s home to some of the tallest buildings in the world, the richest people in the world, the best condos and apartments, and the best bars and restaurants. Apart from some extremely high property taxes, New York City is a gift for real estate investors.

Condo tour in New York – Luxury Apartment Walk-Through

This apartment can be found in the world’s slimmest skyscraper, and gives you a view of central park. It’s seemingly endless luxury begins with the plaster walls, true-wood flooring, a bar with marble countertops. If you’re packing your bags, slow down though, as you’re going to be looking at the hefty price tag of $28.750.000.

• Price: $28.750.000
• Location: 111 West 57th

What is the Most Expensive Neighborhood in New York? The Richest in the Big Apple

It’s no surprise that almost all of the most expensive properties in New York are going to be found in Manhattan. Famous for big companies, its crazy income tax, and skyscrapers to no end. Remember that these prices are for buying an apartment in New York, if you want even more luxury, try buying a house in New York. The ultra-luxurious and high-class areas in this part of the city are world-famous. SoHo, TriBeCa, and Hudson Yards can be heard in movies and songs every year thanks to their iconic status in culture. The most expensive neighborhood in all of NYC is NoHo, with the average house costing around $3.250.000. On a side note, the most expensive area in Brooklyn Cobble Hill is around $1.600.000, and in Queens, Ditmars Steinway is $1.100.000.

1. Noho – $3.250.000
2. Hudson Yards – $3.201.875
3. Tribeca – $3.150.000
4. Central Park South – $3.050.218
5. Nolita – $3.002.146
6. Theatre District – $2.970.000
7. Bowery – $2.350.000
8. Soho – $2.330.000
9. Civic Center – $2.270.000
10. Hudson Square/West Soho – $2.050.000

Luxury Real Estate New York – Expensive and Luxurious

Buying real estate in New York is surely no easy task. If you’re thinking about investing in New York real estate, or even just want to get informed about the real estate market in New York, we have the perfect reading for you. In the article below we detail the best neighborhoods to live in New York, where to buy real estate, how to get into the real estate market, and what you need to look out for. It’s part of our series on buying a house and buying an apartment.

New York Luxury Real Estate

Living comfort and a prestigious effect

A villa means exclusive living comfort and a representative effect to the outside, a special challenge for real estate agents, or luxury agents. In addition, a villa is interesting as an investment property. The term villa originates from Roman times and means manor house. Today, not every villa is also a luxury object. Sometimes country houses located in urban centers are also called villas. In any case, villas are distinguished by their size, by a characteristic room layout, as well as by the land areas surrounding them.

In any case, there is a need for villas in today’s real estate market. Prices for these properties have risen sharply in recent years. The most sought-after villa locations are located in the catchment area of large cities.

Buy a villa? Our most exclusive properties

Our most exclusive properties you will actually not find online in our real estate portal. Celebrities, industrialists, sellers from business and media are looking for discretion and therefore rely on real estate experts with an internal circle of buyers and filtered communication channels. Are you looking for a villa in Germany, Europe or the USA? We have first class properties that you will not find anywhere.

• Off Market Properties
• Contact

Price development of luxury villas: Low interest rate phase

Since villas are highly sought after, especially as investment properties, and many investors are investing in real estate due to the period of economic recovery and low interest rate policy, the prices of these properties have also increased enormously. Over the long term, however, this price trend is by no means exceptional. Since 1975, real estate prices have risen only moderately. Towards the end of the last century, prices fell somewhat, but since the economic upswing they have been on the rise again.

Villa as a purchase object: Invest, instead of “only” live

In which real estate to invest? From an investor’s point of view, the villa has a special significance. It serves primarily as an investment object.

Secondarily follows the own use as a residential property and in many cases the new owner rents the villa. In vacation regions these objects are often rented out as vacation homes. This means that income can also be generated from the purchase of a villa. Indeed, the maintenance of these properties is also associated with high costs.

Checklist: Construction, extras and security

Basically, several components play a role in the purchase of a villa. These include, among others and very roughly simplified:

• Location of the property
• Property
• Living space
• Main house, if necessary adjoining houses
• Height of the rooms
• Furnishings and extras
• Security and accessibility

Location: the most expensive neighborhoods

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Many villas or country houses are located in the periphery. Whether in Berlin, such as Grunewald or in Los Angeles Beverly Hills. There, therefore, a high degree of mobility is necessary for residents. Some villa colonies, on the other hand, which are mainly found in large cities such as Paris are very centrally located.

The upscale residential environment, where most villas are located, is the decisive factor for a higher purchase price. However, the plot on which the property is located is also crucial. The property serves as an individual leisure oasis. It is private and therefore does not have to be shared with anyone.

Luxury you have to be able to afford

However, the disadvantage of this is the high cost of maintaining the garden area. Often, a separate gardener must be appointed. A villa is also characterized by its spacious room layout. These rooms can be adapted to individual needs. Here too, however, it must be remembered that the maintenance and cleaning of these rooms involves a lot of effort. Most villas are equipped with relatively high rooms. They convey a feeling of individual freedom. Their flood of light gives a feeling of well-being. However, the disadvantage of this is the high heating costs

Tip: If you come at this point already in the calculation, buy rather a number smaller! Here you can find my guide: Buy a house.

A villa is great for customizing. If several people occupy the property, so everyone has his own retreat there.

Villa as a rental property: Rent instead of buy?

If you want to buy a villa, you can consider renting out the property. This is an additional income opportunity that justifies the investment costs, at least in the medium term. However, there are tax issues to consider here.

Rental agreements offer tenants certain freedoms with regard to the interior design and the layout of the outdoor facilities. In the case of vacation villas, individual use is particularly interesting for vacationers. These villas are mainly located on the North Sea and the Baltic Sea. Also islands like Sylt or Helgoland offer villas as vacation domiciles. Many investors use the opportunity to buy a villa in such locations and rent it to tourists. When buying a villa, it should be noted that the investment must be planned very carefully due to its size.

• Reading tip: Renting from the apartment house

First, you should in any case assess whether an object offered for sale is really a luxury property or a villa. The prices for these properties are significantly higher than for normal objects. Whether it is a luxury property, describe the following criteria:

• The exclusive location
• A generous equipment
• The presence of special details

When is a villa a villa? Assessment

An exclusive location is particularly when the property is located in an upscale residential environment or in a special area. This includes islands, properties with sea views or properties in central locations in large cities.

Well-equipped villas also have their own pool area, a large terrace and a well-kept garden. Fitness rooms or a covered swimming pool can also be part of the luxury equipment. Special details are, for example, the provision of house staff or a gated community. This is a residential area with restricted access. However, this still has secondary importance in Germany.

Evaluation of the property: house or apartment building

• Valuing a house
• Valuate multifamily house

Costs: purchase price and incidental purchase costs

When selling a property, there are also costs that both the buyer and the seller have to pay.

Who pays which incidental purchase costs?

Explained in Quick:

1. Realtor – Under the new Real Estate Realtor Act, the cost of the broker is split 50/50 (buying from a private party); previously only buyers
2. Notary and land registry pays buyer
3. Property transfer tax pays buyer

This means that if you buy the property privately, under the new law – with reservations – the cost of the real estate agent would be divided in half. If, on the other hand, you buy through a company, such as a family office, the distribution is freely negotiable. In 98% of cases, however, the costs are borne by the buyer of the villa.

Checklist of ancillary costs: expert opinion to notary

These include, first and foremost:

• Value appraisal
• Energy certificate
• Broker’s commission
• Property transfer tax
• Speculative tax
• Notary and land register

The energy certificate, the real estate acquisition tax, the speculation tax and the notary fees are mandatory. The value appraisal and the broker commission are optional if these services are commissioned.

Individual cost factors

Most other items depend on the price of the property and vary individually. A speculation tax is incurred if the property is resold within a certain time after purchase. The tax authorities then access the profit made.

Notary fees and land register

The notary fees in Germany amount to 1.5% to 2% of the notarized sales price. In most cases, only the buyer of the property bears the notary costs.

Who bears the costs?

As a rule, the buyer.

Property transfer tax of the federal states

The real estate transfer tax is divided between buyer and seller and amounts to between 3 % and 6.5% of the notarized services for land and building, depending on the federal state.

Who bears the costs?

As a rule, the buyer.

Energy certificate and landlord info

The Energy certificate is prescribed at $ 300 for a simple certificate and $ 500 for a detailed certificate.

Who bears the costs?

As a rule, the seller.

Tip. Here we have collected for you various basics for renting. What else is important, besides the energy certificate?

Broker commission and cost allocation

The brokerage commission varies by state and ranges from 5.95% to 7.14% of the agreed sales price. The bearer of these costs is either the buyer or the seller, depending on the constellation. In some cases, these costs are also divided proportionately.

Tip. The commission amount is negotiable.

Who bears the costs?

As a rule, the buyer.

Buyer Tips: Owner occupancy / rental

1. Buy a house
2. Buy a multi-family house

Own use: buy a house

Buying luxury real estate – How many luxury properties are sold each year in Germany? There are less than 400.The market is extremely exclusive. Good contacts, a long-standing network, discreet offers and inquiries. Welcome to the world of luxury real estate. We show you how many square meters you get for your money. In New York, Berlin, Hamburg, Tokyo and Dubai. Buy and sell in the most expensive cities in the world.

• Buy a villa for the family

Build or buy?! Apartment houses

Your idea has manifested and your dream of a house is becoming a reality. You’ve already looked at a few properties, compared prices and budgeted for your home purchase. Before you enter into closer negotiations with sellers or reserve a property, you should plan your home financing and determine your terms. The more professionally you proceed and the more concretely you plan, the less complicated the house purchase will be, from the idea to the financing to the notarization to the conclusion of the contract. Then everything is ready for the renting from multifamily house.

• Build or buy?! Apartment houses

Alternative: buy exclusive condominium

The decision to buy a condominium (ETW) is made by most buyers for two reasons. The buyer wants to use the apartment to live in it himself. Other buyers are looking for a financial investment that will provide a good profit in the medium or long term.

• Buy an exclusive apartment

First time selling a villa?

If you’re facing selling a villa for the very first time, you’re probably asking yourself the typical questions that come up in any house sale and a few more. Especially if you are looking to sell an inherited house or villa and accordingly have no prior experience in real estate, here’s a little insight into the process and the costs you will face as a seller.

When selling a property, there are also costs that both the buyer and the seller have to bear.

Tip. We get the optimum out for you as a seller

Here you can find our contact persons: Contact.

You as a seller know that renowned real estate agents, like ours, take over the entire sale and process from valuation to exposé to notary and purchase contract. The most asked questions refer therefore, at the beginning, almost always to the cost factor with the mansion sales. Let us therefore start with this question:

Who pays which ancillary purchase costs?

Explained in Quick:

1. Real estate agent – Under the new estate agent law, estate agent costs are split 50:50 (buying from private); previously only buyers
2. Notary and land registry pays buyer
3. Property transfer tax pays buyer

Checklist sale: cost factors

These include, first and foremost:

• Value appraisal
• Energy certificate
• Realtor’s commission
• Property transfer tax
• Speculative tax
• Notary and land register

The energy certificate, land transfer tax, speculation tax and notary fees are mandatory. The value appraisal and the realtor’s commission are optional if these services are commissioned. Most of the other items depend on the price of the property and vary individually. A speculation tax is incurred if the property is resold within a certain period of time after purchase. The tax authorities then access the profit made.

Notary fees and land register

The notary fees in Germany amount to 1.5% to 2% of the notarized sales price. In most cases, only the buyer of the property bears the notary costs.

The notary fees and land registry are usually paid by the buyer.

Property transfer tax when buying a villa

The land transfer tax is divided between buyer and seller and amounts to between 3.5% and 6.5% of the notarized services for land and building, depending on the state.

The notary fees and land register is usually paid by the buyer.

Energy certificate for all properties

The energy certificate is prescribed with $ 300 for a simple certificate and with $ 500 for a detailed certificate.

The cost of the current energy certificate is usually borne by the seller.

Realtor costs

The realtor commission varies depending on the state and is between 2 % and 7 % of the agreed sales price. The bearer of these costs is either the buyer or the seller, depending on the constellation. In some cases, these costs are also divided proportionally. Tip. The commission amount is negotiable.

As a rule, the buyer bears the realtor costs.

Properties with multiple owners

The situation becomes somewhat more difficult when a property has multiple owners.

Especially in the case of villas, this can be the case. If the property is sold, it must always be unanimous among the owners. If this is not the case, the owner who wants to sell the property must bring a partition action.

Action for partition is time-consuming and costly

Heirs: community of heirs and fractional community

Villas are often real estate that has been inherited. Therefore, it may happen that several heirs are registered in the land register. If this is the case, the owners are listed in accordance with Section 47 of the Land Register Code. Their shares are levied ideally. If several owners are registered, this is a community of heirs in accordance with §§ 741 ff of the German Civil Code.

In the case of a community of heirs, the situation is somewhat different. If an heir brings a partition action, the property is put up for auction and the respective heir receives only his share of the sale proceeds. In the purchase agreement, all shareholders on the seller’s side must be mentioned by name. The respective share ratios are also listed in the purchase agreement. This is particularly important for the sellers, because the proceeds of the sale will be divided among them on a pro rata basis after the sale.

For the buyer of the property, on the other hand, this circumstance plays no role. However, problems could arise during the notarization process. Especially if one co-owner is represented by another at the notary appointment. In this case, a written power of attorney is required in any case.

Inherited a villa? Read more on the subject here

• Property and inheritance

Divorce: sale after separation

If married couples are indicated in the land register, it is to be assumed that they can sell the property only jointly. This occurs primarily in the case of divorce. The legislator assumes that both spouses have tacitly concluded a joint ownership agreement when purchasing the property. This is regulated in Section 749 (II) of the German Civil Code.

If one spouse is registered as the sole owner, he or she can also sell the property alone. The non-registered spouse only has to agree if the property is the entire property of the marital community. (§ 1365 BGB).

Selling a villa after divorce? Read more about the specifics in the topic here:

• Property and divorce

Vendor Tips: Owner-occupier/landlord

Want to learn even more about selling real estate? Read more about houses and apartment buildings here, depending on what type your villa is, there are specifics to consider here as well.

1. Selling a house: Villa for one household
2. Multi-family house: villa for several parties

House for sale: Villa for one household

Single-family houses are characterized by the fact that they are inhabited only by one family, a couple or a person living alone. They have a garden, which is also owned by the owner. Not all single-family houses are inhabited by their owners. There is also a possibility to rent a family house with a garden. In almost all federal states, single-family houses enjoy great popularity as a form of housing. Accordingly, there is a great demand in the real estate market.

• Sell your house

Multi-family house: villa for several parties

If you should decide to sell your house privately, it means a lot of time investment. From the appraisal to the creation of the exposé, to customer approach and sales phase, months pass without market knowledge. In all areas, above all, the location counts, not only in the sale of apartment buildings.

• Sell your aparment house

This city article is part of our full size guide: Buying a House

New York Real Estate – How to Buy a House in NYC

Perhaps the most famous city in the world, New York has everything going for it. An incessant economy, endless museums and creative opportunities, neighbourhoods for every taste, and an undoubtable atmosphere. Buying real estate in New York is, for that reason, so popular and lucrative. The real estate market, as we will see below, is an opportune chance to invest safely with high profits. So, with relatively low interest rates, the lowest property tax rates in New York State, and seemingly impossibly low prices, now is the time to invest in New York real estate!

• Rather buy an apartment in New York?

Largest House in USA – New York Mega-Mansion

One of the most expensive houses in the whole of the USA, 281 Daniels Lane is a bigger house than you could imagine. Built by multi-billionaire Ira Rennert, this massive compound has multiple houses and sits on 63 acres of waterfront property. If you want to get an impression of how luxxurious and opulent this self-made entrepreneur lives, you should know that his neighbours commonly complain about the noise of the oversize helicopter which lands on the designated helicopter pad on the property.

The massive mansion boasts multiple dining rooms, a gym, two tennis courts, three swimming pools, a bowling alley, a movie theater, a private museum showcasing the billionaire’s massive art collection, and a basketball court.

• Location: 281 Daniel’s Lane, 11962 New York

What is New York’s Biggest Economy?

New York is perhaps best known for its legendary finance sector. Countless mammoth banks have their headquarters here, and ‘wall street’ is known worldwide for its trading business. Yet New York is also home to a billion dollar port, being the source of thousands of jobs. It is also a major hub for manufacturing of textile and clothing industry. More importantly though, New York is a young tech-hub. With many software and new-tech startups and companies being housed in the metropolis. Lastly, with the city being one of the biggest in the U.S., and most popular worldwide, New York also has a massive gastronomy and hotelier sector, with tourism pushing a large proportion of it.

• Tech
• Finance
• Tourism

Is New York’s Economy Growing?

New York’s economy is growing. Between 2001 and 2019, the city’s GDP rose from $1,20 tril. to $1,57 tril., a 24% increase! There are some 70.000 businesses in New York City, and this number is growing annually. New York’s real estate market also makes up a huge share of its massive economic growth.

• GDP: $960,25 bil. (8% of total U.S. GDP)
• Past 20 years, 24% increase.

Is it a Good Time to Buy a House in New York? – Real Estate Market

Right now is a very good time to buy a house in New York. Low prices are almost certain, thanks to many vacancies by lettors who are no longer interested in renting out the very low rent prices. That means prices will be low, but thanks to New York’s legendary status, and cramped market, the prices are certain to pick up again. In a few years, the current prices will have multiplied, meaning an investment now will reap profits. Prices of homes are expected to increase by 9.1% over the next year.

• Home Prices Currently Low
• Expected 9.1% increase in price

Home Price Trends New York City – New York Real Estate Crash?

It seems every year there is an impending real estate crash. Yet this has not happened until now. Some experts have warned again of a crisis, yet looking at the house price index for New York, there is no evidence. The opposite in fact, the rising house price index indicates not only a healthy economy, but also a strong real estate market.

• Strong real estate market
• Rising Price Index

Most Valuable New Constructions

This graph is perhaps indicative of New York’s real estate market. Only surpassed by Dallas-Fort Worth, and the Houston-Sugarlands areas, the New York metropolitan area is among the places with the highest value of new residential construction permits. That means that new constructions are valued very highly in New York, thanks to high real estate prices, which are, thanks to these expensive new constructions also expected to remain high.

• 3rd best in the Country!

New York Real Estate Prices

New York City’s average house has a value of $660.000. Last year the median sales price on single-family residentials hit $718.000. Additionally, the amount fo sales being completed increased by over 21% compared to last year. Per square foot, you can expect to pay $341, a number 2.4% higher than last year. Manhattan is the most expensive borough, with the hotspot’s averae sale price being ata $995.000.

• Average home: $660.000
• Average sqft: $341

New York Real Estate Market Explained

NYC is certainly a buyer’s market at the moment. There are more properties for sale currently, than there are buyers. Properties were being sold, on average, almost 3% below asking price, and were typically sold after a long 151 days on the market. This is likely also due to the high supply of properties making buyers be more specific in their wishes. Also, while it may seem like rental-heaven, New York is over 50% owner-occupied, meaning that you are not alone in owning instead of renting.

• New York’s Real Estate market in-depth: New York Real Estate Investment

Is it Hard to Buy a House in New York? – Problems

As mentioned, the New York market has many homes for sale, meaning that, apart from few issues, it’s not very difficult to buy a house in New York. Different from buying an apartment in New York, buying a house will likely leave you with a more specific and satisfactory property.

Where Can You Buy a House in New York? – Detached Single-Family Residences

You may think of New York as a place where you can only buy apartments or condos. This is not the case though, although detached single-family houses are quite rare in e.g. Manhattan. You will not have much difficulty finding a house in e.g. the southern parts of Brooklyn (Bensonhurst, Sheepshead Bay, etc.) as well as Queens (e.g. Forest Hills, Woodhaven, etc.). Of course the legendary Hamptons are also prime real estate.

What is the Minimum Downpayment on a House in New York?

Mortgage is always a major topic when buying a house in New York. Even here you will need to pay at least 20% on your downpayment. The FHA loans, which would allow you to pay as little as 3.5% without significant interest rates will be hard to find in New York, as there are so few houses compliant with the regulations. If you decide on a downpayment lower than 20%, you can expect high mortgage interest rates, and of course principal mortgage insurance. With a home price of e.g. $700.000, the classic 20% downpayment is a hefty $140.000!

Tax Tip: NY state will allow you to deduct much of your mortgage interest from your taxable income!

Taxes! Where to Pay and How

Taxes on buying a house in New York: this is the fun part. Taxes in New York are structured so that you are advantaged when you buy a home instead of rent. That means you can deduct many things like mortgage interest and your New York property taxes from your taxable income! More on optimizing your taxes in our article:

• Saving Real Estate Taxes

How Much Money do you Need to Buy a House in New York?

There are of course a million ways to save money everywhere on your home. From saving on your taxes when buying a home to government programs, you need to make sure to take a look at the possible programs for you in your income-, cultural-, and geographical region.

How to Pay Less when Buying a House in New York

For people who are not able to pay a full downpayment, there are many support programs. Real estate purchases are generally encouraged with incentives and support programs. The best are for first-time homebuyers, meaning that if it is the first time that you buy a full residence, you will pay less taxes, and have other monetary incentives. More on that in our main article on buying a house.

• Less taxes for first-time homeowners

We have a full-size guide on all the additional costs you have to pay when buying a home:

Additional Real Estate Costs

Saving with Home Improvements

The planet is dying, and everyone has to do their part. That’s why many houses in New York nowadays are sold with eco-friendly upgrades already done. These include renewable energy sources such as solar power, or other variants such as more insulated roofing or smart thermostats. Having these can cut down on your recurring costs.

• Eco-friendly = Wallet-friendly

What you Need to Know About Buying a House in NYC

These are the top tips for buying a house in New York. You can be certain that if you adhere to these tips, you will have a good time, and end up satisfied homeowner of New York real estate.

People you Need to Hire to Buy a House

The most important step of the house buying step is the people who you will have fighting on your side. You want a group who are capable and empathetic. Additionally, you may need more people than you think. The list includes real estate brokers, agents, loan officers, mortgage brokers, and a real estate attorney. This is the step of the process where you will need to spend more time than you think. A good team surrounding your purchase will be a deciding factor in the quality of your home, as well as how much stress the home pruhcase will be to you.

• Real estate broker
• Agent
• Loan officers
• Mortgage broker
• Real estate attorney

It’s the Season – Spring

If you want to buy a house in Los Angeles, the time to do it is in the late winter to early spring. From January to March, the prices of homes are lower than the rest of the year, which means you can pay less for the same house that you would normally.

• Buy in Spring!

Location Location Location – New York Neighborhoods

Which neighbourhoods in New York to buy in? The old realtors adage, location location location. New York is home to five boroughs, all with a unique character and different qualities. Within these boroughs though, there is also large variation. For example, Brooklyn is home to some of the most high-end real estate areas in the whole city, while its neighborhood of Brownsville is considered the most dangerous. Therefore, which neighborhood you buy in can be decisive

Checklist – Where to Buy a House

What to look for in a location for buying your house? The location of a home, and the amenities nearby can decide your resale value, and can mean over- or under-paying on your house. This is our checklist of things you absolutely have to check out when looking at buying a house in a certain location:

• What are other homes or buildings on the block like? If
  neighboring homes or buildings are in poor condition, it could affect resale
  values.
• Schools: Are there good schools nearby? Do they have a good reputation?
• How close is the home to shopping areas such as malls? If you don’t have a car, public
  transportation? If driving, parking garages?
• What community amenities are nearby? E.g. museums, parks, restaurants, etc.

Don’t Forget Additional Costs

New York has an extra mansion tax, as well as a few other unique facets which make the additional costs here more difficult and sneaky. Be certain that you and your real estate broker have thoroughly discussed the details of all potential additional costs which you could face when buying a house.

• Real Estate – Additional Costs

How long a House has been on the Market – Beware of this

A major problem can often be unseen by you. Whether it’s shoddy renovation work which your inspector misses, a future construction project which could heavily affect resale value, or any number of things. Therefore it’s smart to always check how long a house that you are looking for has been on the market. Remember, in NYC, the average home is on the market a little under 5 months. Anything significantly longer than that can mean danger! It could also mean that a seller is just a particularly hard negotiator, and if you have the money to buy, it can still b the right purchase. So just make sure to take an extra close look.

• Hidden Problems!

Process Explained – How to Buy a House in New York

The process in New York is the same as for buying a house in the whole of USA. In short you save up, find the people that will help you through the journey, find your future home, and close on the deal. More specifically:

1. Save up for the Downpayment
2. Find a Mortgage Broker
3. Get Mortgage Preapproval
4. Get your Team Together: Attorney, Real Estate Agent, etc.
5. Start looking at Listings
6. Go to Viewings
7. Submit an Offer
8. Close

How Long does it take to Buy a House in New York

From start to end, the process is going to take a few weeks at least. The time can range anywhere from three weeks to three years, but on average you can expect about 6 months from start to finish. Remember! Even after closing it typically takes about 90 days before being able to move into the new property. Some people search for years and fail to find anything. In the end, how long you spend finding a new house depends on how well-prepared you are. On average though, in New York, people buying a house look for 50-70 days between starting the search and closing.

• 3 Weeks to 6 Years

Best Real Estate Agents in New York for Buying a House – Ranked

New York has more real estate agents than home buyers it seems. In this sea of real estate agents, all claiming to be the best, our ranking for the top 8 real estate agents in New York is below. These are NYC’s best realtors:

1. Richard Leasure (Howard Hanna Rochester)
2. John Farrell (EXIT Realty Homeward Bound)
3. Alexa Lambert (Compass)
4. Michael Kenduck (21st Century)
5. Bryan Karp (RE/Max)
6. John Lajara (RE/Max In the City)
7. Geraldine Andolina (21st Century)
8. Daniel Axtmann (Berkshire Hathaway)

New York City Explained

Counting the neighbourhoods, and finding out where one ends and another begins is a hard task in New York. The city is massive and spread out over 784 km² (303 mi²), being home to 8,4 mil. people.

• Pop. 8,4 mil.
• Area 784 km² (303 mi²)

New York’s Counties – Are NY’s Boroughs Counties?

New York City incorporates five counties, these are: New York County (Manhattan), Kings County (Brooklyn), Bronx County (The Bronx), Richmond County (Staten Island), and Queens County (Queens). In other words, each borough makes up one county.

• New York County
• Kings County
• Bronx County
• Richmond County
• Queens County

All New York Neighborhoods Mapped – Williamsburg, Midtown, etc.

With so many neighborhoods, it’s nice to see what neighborhood ends where. Where is the famous Williamsburg? See it all in the map below.

Property Taxes – New York’s Property Taxes by County

Buying a house in NYC means looking at how much you’re going to have to pay in taxes. With some districts paying more than others, this is an important part of your investment. New York property taxes are slightly more complicated than elsewhere, but broadly, the most you will be paying is in the Bronx, and least in Manhattan.

• Kings (Manhattan) – 0.65%
• Queens – 0.87%
• New York – 0.90%
• Richmond (Staten Island) – 0.91%
• Bronx – 0.97%

Neighborhoods in New York City – Where to Buy Real Estate

What neighborhood should you move to? Where are prices low, and likely to rise? These are the questions we answer here. Importantly, you will want to decide beforehand what type of neighborhood you’re looking for. There are young, trendy, and soon-to-be-gentrified areas like BedStuy, the super-rich luxury pads in Manhattan, or a little more suburban in Carroll Park or Park Slope.

New York Real Estate – Manhattan

Manhattan… Need I say more? A timeless and undisputed king in New York real estate. Neighborhoods to keep on your radar: TriBeCa, the perhaps most opulent part of New York City, or Upper East Side, which is the hottest tip in New York at the moment.

Bedford-Stuyvesant – Future Williamsburg

Williamsburg is perhaps the most famous example of gentrification worldwide. Not yet prey to gentrification is Bedforsd-Stuyvesant, where low prices, boundless amenities and a young atmosphere allow inhabitants to enjoy the big city, without its incessant tumult.

Park Slope – Where to Raise a Family in New York

Park Slope is already more famous than it was only two or three years ago. This is thanks to its near-perfect combination of proximity to the city, neighborhood safety, as well as a nice park and more. If you want to raise a family in New York City, this is where you should do it.

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