Koln Germany Real Estate
When it comes to the housing market in Germany, renting is the most popular way, if you are not in a hurry, but once you have found a property, it can take months to complete the deal. Germans expect to buy a property and live in it for a longer period, so it is important to take time to make a decision. Expect to spend a significant amount of time hunting for property, especially if you are not in a rush and if the price of property is rising.
When you find the perfect German property, give yourself a year or more before you buy it, so that you can benefit from your investment long after you have left the area. Owning a property in Germany allows you to own a property for a longer period of time, even if the rental market is strong. If you are in an attractive and competitive area where sales can be low, you can sell your property and pay 25% capital gains tax on properties you have owned for less than 10 years. This does not apply if you sell the property afterwards, which means that for many expats, buying property outside Germany is only attractive for longer stays.
Those who work in Cologne like to move to nearby Bonn, where properties are cheaper. Buying a house or apartment is another option to consider if you plan to stay in Germany for more than a few years. If you are travelling in the North Rhine-Westphalia region, our travel guide will show you the best accommodation in Düsseldorf.
In our community you will find more information about the best hotels in Cologne, Bonn, Düsseldorf and other cities in the region.
You can also contact a real estate agency to help you in a city you don't know well. Whether it's a flat, a house or a rental property, an estate agent will help you where they can to make you happy. There is a commission for the work of the agents if you consult them for the rental, purchase or sale. The amount of commission always depends on the size of your property, the location and type of property you are looking for, as well as other factors.
In some cases, different documents are required, such as real estate liens, tax returns, bank statements, insurance claims and other documents. This distinction is used to protect against fraud and to define the services you provide with an estate agent.
From the search for a flat in Germany to the signing of a contract, this guide will guide you through the process of buying a German property. Here you will find information on everything from newly built condominiums to rental properties and real estate services. How all this works, you will also find out when you get a mortgage in Germany, with information about the different types of mortgages that are available in Germany.
The former Eastern countries are among the most expensive residential areas in Germany with real estate prices between 1,500 and 2,000 euros per square meter. But the price of property is lower than in other parts of Europe, such as the United States and the United Kingdom. We explain why this is the case and why demand for selected locations remains high and check our data.
Construction activity in Munich has shifted to the edge of less densely built-up districts. There are more than 1.5 million square feet of new housing units in the city, compared with only about a million in other parts of the country.
Consider that homes in Germany (and other European countries) tend to be smaller than those built in North America. It should also be noted that most of us properties in Germany are very well built and built with high quality materials that are used to comply with strict building codes. German homes cost less than the typical cost of a US home of about $1.5 million, according to the National Association of Realtors.
Although our city is a metropolis, we feel more like a small town than a big city in terms of the size of our houses and facilities.
German real estate is seen as a stable and reliable investment by both local and foreign investors, although returns can be low in some areas. Generally, most property investments are owned - and foreign investment is rare. The German property market tends not to suffer from a sudden fall in the value of houses, but our interest rate profile gives us considerable stability. One factor behind the price increase is an imbalance between supply and demand. Some experts claim that this figure is not high enough, given the 280,000 new homes that are being built in Germany each year.
In Cologne and Stuttgart, for example, only half of the apartments that IW estimates will be needed to meet demand are being built. If you are looking for an apartment in Cologne, Wimdu is the ideal place for you as we are seeing a significant increase in the number of available apartments in this city. In our travel guide for Cologne and the surrounding area you will find further information about apartments, hotels and other accommodation.