Buying real estate in Germany
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Germany has a mixed community which includes Greeks,
Italians, Spanish and a considerable ex patriot population of Americans
Real Estate Prices In Germany
Varies, for example:
Locations to buy real estate in Germany
It is popular in Germany to rent. This accounts for over half of the population. Apartments in the cities and suburbs are popular where there can be a shortage of housing. At least 75% of German houses have been built since the second world war, though you are still likely to find many lovely traditional village homes in rural areas. There are many properties in the former East Germany which need modernisation. Rhine and Mosel valleys are popular for rural lifestyles.
Living Costs in Germany
Germany enjoys a very high standard of living with fairly low inflation. The cost of living is higher than some other EU countries but not very different to that of France and the United Kingdom.
Buying property in Germany
you have found your property that you want to buy and agreed a selling
price, a solicitor/lawyer or notary is required to carry out the legal
work and contract obligations, checking that no liabilities exist.
public notary has to be used for the conveyance all Real Estate contracts.
You would expect to pay a total around 6-7% of the buying price, which comprises of the transfer tax of 3.5% and notary fee of about 1.5%. The Real Estate Agents fees vary up to 5-6% and would ordinarily be split between the buyer and seller.
tax is charged in Germany to cover local services and is rated usually
below the current market value and would be around 1% of the rateable
value. Non-residents are subject to wealth tax on property owned in
Germany of around 0.5%.
can borrow up to 70% from German banks and building societies and they
would normally expect a proven track record of regular monthly savings
of up to six years before it is approved. The maximum term would be
up to 30 years on a fixed rate of interest. Click
here to arrange a mortgage in Germany.
For more information on German Property and to arrange your viewing visit: