Mortgage In Germany

TWO-ROOM APARTMENT IN GERMANY
average cost € 300,000
good enough repair
favorable area
developed infrastructure

EXAMPLE OF SUCH AN APARTMENT

RIGHTS AND OBLIGATIONS OF A FOREIGNER AFTER BUYING A PROPERTY IN GERMANY
stay in the country up to 90 days in half a year or up to 180 days a year.
obligated to pay taxes on real estate and utility costs
to enter the country to purchase real estate you will need to apply for an entry visa

REAL ESTATE TAXES IN GERMANY
The tax on the purchase of real estate is 3.5-6.5% depending on the region
For notary services you will have to pay about 1-1.5% of the value of the object
realtor commission - 3.5–6% of the property value

CAPABILITIES
If you plan to purchase an apartment for subsequent rental, then in Berlin or Munich you can count on the profitability of this company about 4% per year. At the same time, in smaller cities, returns may be higher.

MORTGAGE TERMS
interest rate - from 3 to 5% per annum
down payment - at least 40% of the market price of housing
loan term - from 5 to 40 years (standard term - 10 years)

GETTING A MORTGAGE
1 step - Analysis of offers from banks
2 step - Collection and preparation of documentation
3 step - Opening a bank account and replenishing it
4 step - The conclusion of the contract.