Berlin- fastest growing city in Germany
Why You Should Buy Berlin Apartments for Sale with the Help of Local Property Adviser
Berlin, Germany’s capital is in the process of metamorphoses. From a staid old charming city, the haunt of artistes, it is fast turning into a high-tech cosmopolitan business city. Some of the largest construction projects are underway here to meet present and future demands for homes. Berlin is the target for people looking for a better quality of life and for investors looking to buy property. Some of the finest architectural splendours can be seen in Wilmersdorf and Charlottenburg, clustered around the Kurfurstendamm or Ku’damm. If you live in an apartment here, it means you have arrived. Or consider a new residential apartment township in Mitte. Not everyone is so lucky and for them there are apartments in Prenzlauer Berg, Kreuzberg or Friedrichshain. Living in Berlin has its attractions due to low costs and the city’s Agenda 21 programme aimed at making it a prized destination in Europe.
Location is one of the most important considerations when you consider Berlin apartments for sale. While Mitte and Charlottenburg-Wilmersdorf are the prized areas, they are also the most expensive because of their high-end image. An expert local realtor is the best person to advise on investment strategy, cost, returns an investor can expect and the peculiarities of each location.
Why choose Berlin to live in and buy an apartment?
- Berlin is the fastest growing city, the capital of Germany
- It is boom time for business, industry, tourists, conventions and conferences
- There is a high influx of people into the city looking for business and work
- Prices of real estate, though rising, are still lower than prices of comparable properties in Paris, London, Munich or Rome.
All these factors have resulted in a real estate explosion with prices rising and set to escalate still further. Rents are soaring and if you plan to live long term in Berlin, then buying an apartment here is a better option. For investors this is the golden period when they can select Berlin apartments for sale either to live in or to rent out and then sell when the prices reach their target point.
If Berlin is attractive as an investment decision, it also has its set of regulations governing purchase, sale and rental of apartments. Investors pay land tax of 6.0%, legal fees account for 1% and registration fees about 0.5% of property value. From an investment perspective apartments can be bought by a non-commercial entity or a commercial entity each liable to different tax slabs. Investors also need to factor in cross border and double taxation implications while deciding on formation of an entity before even considering purchase of apartments or apartment block.
All these matters are inter-linked and are best left to be handled by an accomplished Berlin realtor with experience of devising strategies according to each client’s objectives. A truly professional realtor does not just deal in purchase and sale of apartments; he develops strategic investment tactics that lead to wealth creation.