View Full Version : Buying property abroad (Germany)
How does one do this? I mean would an English bank give me a mortgage for a property i wish to buy in Berlin or would i have to go through a German bank?
Stanley Edwards
03-05-2007, 08:42
It would be far cheaper to use a German bank. Property in Berlin is relatively cheap for a large European city. I know of a 1 bed flat in a very nice area of central Berlin that's been struggling to sell at €50,000 for example! Very small, but would make a great little weekend city retreat.
There are mortgage specialists in the UK for overseas buying, but generally it's cheaper to use local banks. Provided that you have regular income going into that account you shouldn't have a problem getting a mortgage, but you may need some sort of official status within Germany (some sort of tax number or, NI number).
e2a; Forget the mortgage. Just buy on a credit card: http://www.insite-berlin.de/index.php?page=search&lang=en
Blimey!
I looked into this in depth a while ago and am still looking into it
the only warning Im would give is do not get into the current british craze for Buy to let and try it in Germany.
get rich quick invstors underestimate the protection that tenanst get under German law - it make the UK look positevley stone age with its tenants rights.
( This is not intended as a critisism in any way of the laws of Germany BTW:D )
Yeah But I indeed to use it as Berlin retreat to visit 4 or 5 times a year and possible move out there,
Yeah But I indeed to use it as Berlin retreat to visit 4 or 5 times a year and possible move out there,
Given the Price of property in Berlin at the minute,. I would just get it on credit card..............(joke)......seriously tho' EUR 100K for a flat within about 5 minuters walk of KuDamm ?
barking
RenegadeDog
09-05-2007, 04:20
It would be far cheaper to use a German bank. Property in Berlin is relatively cheap for a large European city. I know of a 1 bed flat in a very nice area of central Berlin that's been struggling to sell at €50,000 for example! Very small, but would make a great little weekend city retreat.
:eek: That's cheaper than China (if we're comparing capitals)
Stanley Edwards
09-05-2007, 09:32
:eek: That's cheaper than China (if we're comparing capitals)
Really!
Berlin is stupidly cheap. Major new builds going on (many of which happen to be owned by Chinese companies) and vast deserted housing blocks in towns surrounding Berlin in the former East Germany. The market is saturated.
You could easily let a 1 bed appartment as holiday accommodation for 20 weeks of the year at say €200/week. Comfortably cover mortgage payments. May even take a closer look myself.
Just been to HSBC to discuss this (my bank and easy) but they dont cover German (global bank my arse!).
People have suggested using a German bank. Do does anyone one of a German bank who have branches here in London?
Dont really know where to start with this.
schnickschnack
23-05-2007, 19:09
There's lots of advice on here: www.toytowngermany.com/forum. Hope that helps!
Last time I was in Berlin I saw a studio flat in Kreuzberg for 33000 euros. Seeing as the chances of me ever affording somewhere in London is minimal, I need to improve my German and move there permanently :D
Are you living in Berlin yet mod? I'm moving back there on Saturday :cool:
RenegadeDog
24-05-2007, 13:03
Really!
Berlin is stupidly cheap. Major new builds going on (many of which happen to be owned by Chinese companies) and vast deserted housing blocks in towns surrounding Berlin in the former East Germany. The market is saturated.
You could easily let a 1 bed appartment as holiday accommodation for 20 weeks of the year at say €200/week. Comfortably cover mortgage payments. May even take a closer look myself.
Yep. I reckon in Beijing or Shanghai, a one bedroom flat for that amount would be par for the course, if not very cheap.
Germany is starting to be quite a tempting place for me to consider living in in the future. From talking to German friends, property is really really cheap there, and salaries are about the same as the UK. Of course, I'd need to get my PGCE first and get a 'proper' job there, rather than teach TEFL...
Are you living in Berlin yet mod? I'm moving back there on Saturday :cool:
Nope. Still got another month. Fly out on Sat 30 June. Cant fudging wait!
Dont know a soul out there but that is half the appeal.
rubbershoes
29-05-2007, 21:38
People have suggested using a German bank. Do does anyone one of a German bank who have branches here in London?
deutsche bank are in the city
i don't know if they deal with individual customers or just investment banking.
there may be others but DB are the bet known
chymaera
29-05-2007, 22:14
get rich quick invstors underestimate the protection that tenanst get under German law - it make the UK look positevley stone age with its tenants rights.
France is as bad if not worse. There is loads of cheap property in France with sitting tenants. In one famous case an investir purchased one such property cheap with an old lady 80 years old in it. She lived to be well over one hundred years old and outlived the owner of the property.
A Dashing Blade
30-05-2007, 13:11
Nice one schnickschnack!
iirc (and events in a Friederickstein bar tend to get a bit hazy) a schnickschnack Jagermeister and mango juice mix.
Mod - I may be checking out Berlin for a "pomme de terre" in the next month or two - any recommendations as to decent estate agents and suchlike ?;)
Mod - I may be checking out Berlin for a "pomme de terre" in the next month or two - any recommendations as to decent estate agents and suchlike ?;)
Ask me this tim enext month and I'll have a better idea as I'll have been there a while.
schnickschnack
07-06-2007, 21:21
You have to keep us up to date, Mod, I can't wait to hear how it works out!
I'm German but have lived in England since I'm 17 so I have now idea how mortgages work over there, but looking on here: www.immobilienscout24.de makes me want to move back straight away! I dont care so much about Berlin but they've got massive houses with acres of land just an hours drive from Hamburg for 65.000 Euros :eek: It's a really nice area, close to both the North Sea and the Baltic, I always wanted to live there.
Just seems a bit too good to be true. :confused:
schnickschnack
07-06-2007, 21:22
Doppel-Post. Entschuldigung, ich habe zu viele Biere getrunken!
You have to keep us up to date, Mod, I can't wait to hear how it works out!
I'm German but have lived in England since I'm 17 so I have now idea how mortgages work over there, but looking on here: www.immobilienscout24.de makes me want to move back straight away! I dont care so much about Berlin but they've got massive houses with acres of land just an hours drive from Hamburg for 65.000 Euros :eek: It's a really nice area, close to both the North Sea and the Baltic, I always wanted to live there.
Just seems a bit too good to be true. :confused:
Its all in foreign:confused:
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