| Berlin Property And 10 Reasons To Invest In This Amazing City |
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| Written by Joe Pyke |
| Wednesday, 25 November 2009 11:18 |
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The German Property Market
The German Property Market Currently, Germany is Europe's country with the largest economy and it is the third largest in the entire world. It is the world's largest exporter and it has been the gateway between the East and the west. It is said that German is known for continuing to have undervalued property. There is a robust rental exchange with a modern legal and land registry. Germany also has an economy that is in full swing. The properties within Berlin are about 30 percent lower in costs than what they would be in other cities within Germany. Small and big investors love to invest in Berlin because of the following reasons: 1. Berlin is the centre of the expanded European Union. 2. It is the capital of Europe's largest economy. 3. The national government and a host of organizations are headquartered here. 4. It has a stable population of 3.4 million people which is said to be the largest German city. 5. Multinational corporations and firms have their base operations in Berlin. 6. High in the ranks in modern technology operations and development. 7. Within the last ten years alone, Berlin, being the third largest tourist destination in Europe, has benefited from investments of up to 75 billion Euros. 8. Berlin has the most modern railway system in all of Europe and it has three international airports. 9. It is the cultural centre of Europe. 10. The cost of living is low but there still remains a high quality of life. For example, about forty percent of the city land is nothing but playgrounds and parks. The Many Potentials of the Berlin Property Market Various large investment firms and corporations have poured in multi-billion Euro investments in Berlin's property market. The small investors have followed suit acknowledging the tremendous potentials of the Berlin property market. The low property values give an extraordinary value for the money, and it is surprisingly lower than the cost of the construction. This is a market with robust rental rates with yield highest in the continent. In fact, about 86 percent of Berliners rent their housing. There are many excellent opportunities for developers as there have not been that many new buildings brought in over the past few years. In addition, it should also be noted that Berlin has one of the most stable populations within the last 3 decades. There has also been an interest shown in purchasing homes, as the homes are now extremely affordable. There is a very good medium to long-term capital growth that is expected and it is forecasted to be multi-billion Euro capital investments. There are many wise investors that are in agreement that the German economy is on the rise, making now the best time to invest in real estate. Even foreign nationals are able to invest in and hold title to some Berlin properties. Property Purchasing Process The great thing about purchasing property in Berlin is that it is a direct transaction and a no-nonsense process. When the purchase is agreed upon by the seller and the buyer, there will be a legal notary who will draft the contract of the sale. This notary will serve as the third party intermediary of the transaction of the sale of the property. The notary will take charge of the details of the sale such as preparing the contract, checking the title and enforcing impartial provisions of the contract. The notary will also attest to the genuineness of the parties involved in the transaction. After payment has been made, the notary will then request the change of ownership through property titles. You can also look into mortgages for a property but just like everywhere else, financial institutions are being very particular about whom they lend their money to. This is to make sure that they do not end up with a lot of losses on loans that become problematic. There is also the taxation that is needed to be watched for with car. You might want to speak with a professional tax advisor first because German law can be known to be one of the most complex laws of the world. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. Want to find out more about Berlin property #1, then visit the Berlin Property site on how to choose the best property in Berlin #2. |