Over the years, the price of the property in Berlin has been very steady as compared to many other cities in the European countries. However, now it is slowly catching up and therefore there are lots of interest shown by the real estate investors around the world. The prices offered in Berlin are still very attractive as compared to other cities of Germany. Therefore, if you are interested to invest on buying any apartment in Berlin then read the following guidelines.
- You must define your investment goal clearly
As a good investor you must start with the right kind of questions. Define your objectives clearly before putting your money in any Berlin property. Another thing you must remember is that in this country Government will not charge any tax, if you sell your properties in next 10 years. Therefore, ask following questions while investing on new property.
- Are you going to live in the property or use it only for rental purpose?
- Have you got any clear goal about return of your investment?
- Are you interested to buy a number of small apartments or single bigger one?
- Do you have any particular location in your mind?
Whether you invest in any Berlin property or anywhere else, location is one of the very important criteria for investment. As far as districts like Neukolln or Prenzlauer Berg is concerned, you can find plenty of attractive areas where you can buy, as they are developed areas. Besides that, within the radius of few kilo meters of this place, you can also expect better development in near future.
Therefore, it will be a good idea to make personal visit to these locations to get better feel about the location rather than getting information from an agent or any other sources. If the investor can really get the property of his choice then it is going to be the best buy. You will also be emotionally attached to your property if you like it. You also can have peace of mind that you have invested your hard-earned money on some good purpose.
- Make budget and secure your funds
Berlin property prices have not yet appreciated unrealistically so far. Whatever appreciation has taken place is based on its real value. It is still much lower than cities like London or other important cities in this country. Therefore, it will not be very difficult to fix your budget while buying any property in Berlin. You may keep some margin for negotiation too. In case, you need to get it financed by any bank then you can also exercise that option. Make sure that you have enough source of funds available to make real deal with any prospective seller.
- Understand the local rules for buying property
While buying any Berlin property you need to familiarize with the local rules so that you make the deal as per the rule of the country. Once both the parties have made necessary agreement then you must get the property registered in your name after making necessary payments.