Buy real estate in the most exclusive streets

From Harvestehuder Weg in Hamburg, to Annastrasse in north-west Frankfurt, to Tegernsee in southern Munich – the German real estate landscape is quite respectable by international standards. And not only that: Anyone who thinks that the most expensive streets in Germany are only to be found on the mainland is mistaken. Nowhere in Germany are properties as sought-after and exclusive as in Sylt. More about how much a square metre costs here in a moment. Here are the most expensive streets in Germany at a glance.

Berlin: Kurfürstendamm, Tiergarten & Co.

Berlin is not only the capital of Germany, but also an attractive location for international companies, a stronghold of German culture and a popular place to live for couples, singles and students. The capital of Germany is a breathtaking city in every respect. No wonder, after all, it is home to almost 4 million people. Thus, the metropolis inspires with its lively and diverse cityscape, its high historical value, its turbulent nightlife and its stable economy. While Kurfürstendamm is one of the most luxurious shopping streets in Europe, the area in and around Berlin-Mitte, Tiergarten and Charlottenburg are home to the city’s most exclusive properties.

• Most expensive streets in Berlin

The most expensive streets in Berlin include:

• At the circus, Werderscher Markt
• Breitscheidplatz
• Gendarmenmarkt
• Island Road
• Klopstockstraße
• Kurfürstendamm
• Paris Square
• Savignyplatz

The most expensive street in Berlin is Inselstraße.

Inselstraße in Berlin

The Inselstraße in Berlin-Mitte inspires with its exclusive location. The banks of the Spree River are within walking distance, the city’s most important monuments and sights are only a subway ride away, and for those who need a break from the colorful hustle and bustle of the city, the many green spaces and parks offer a relaxing change of scenery. Property prices here are around 23,000 euros per square metre.

Up to 23,000 euros per m²

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• Most expensive streets in Berlin

Düsseldorf

The capital of North Rhine-Westphalia inspires with its luxurious quarters, exclusive villa districts and its breathtaking skyline. The comprehensive good infrastructure, the diverse shopping facilities and the internationally positioned local economy also make Düsseldorf a superlative city. Düsseldorf’s attractiveness is also reflected in the local real estate market: especially the streets in the Old Town and Oberkassel are among the most exclusive residential areas.

• The most expensive streets in Düsseldorf

Here are the most expensive streets in Düsseldorf:

• Old Town
• Kaiser-Wilhelm-Ring, Kaiser-Friedrich-Ring

The most expensive street in Düsseldorf is the Altestadt.

Old town in Düsseldorf

The Altestadt in Düsseldorf is not only the most expensive street in the entire city, but also the most beautiful. The banks of the Rhine can be reached on foot, the historic Burgenplatz is only a few minutes away by car and Düsseldorf’s city hall is also at home here. One of the most famous shopping streets in Europe is also nearby: Königsallee. Property prices here are around €13,500 per square metre.

Up to 13,400 euros per m²

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• The most expensive streets in Düsseldorf

Frankfurt am Main

With a population of about 750,000 and an area of almost 750 square kilometers, Frankfurt am Main is one of the important German metropolises. As one of the most imposing German cities, the Hessian metropolis of Frankfurt is in no way inferior to the other cities of Berlin, Hamburg and Munich. The standard of living is high and the economy stable. While students appreciate the colorful nightlife, the strong banking and financial sector attracts mainly entrepreneurs and investors here. Thus, not only apartments in the city centre are popular here, but also villas and detached houses on the outskirts of the city.

• Most expensive streets in Frankfurt

Here are the most expensive streets in Frankfurt am Main:

• Anna Street
• Siesmayerstrasse

The most expensive street in Frankfurt is Annastrasse in the north-west of the city.

Annastrasse in Frankfurt

Properties in Frankfurt’s North End are particularly sought-after. Not only is Siesmayerstrasse located here, but also the most expensive street in the entire metropolis: Annastrasse. Here, property prices are around 11,000 euros per square metre.

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• Most expensive streets in Frankfurt

Hamburg

Strong economy, sea air, international orientation – all this makes Hamburg in the north of Germany. Hamburg has its very own charm, shaped by its unique history, maritime shipping and the many international residents from all corners of Europe. It is not only home to families, students and entrepreneurs, but also to famous faces from the worlds of film, television, music and sport. This, of course, makes the Hanseatic city’s real estate market particularly attractive. So anyone who owns a property in Hamburg can consider themselves very lucky.

• The most expensive streets in Hamburg

See some of the most expensive streets in Hamburg:

• By the quay
• Bellevue
• Elbchaussee
• Great Elbe Strait
• Harvestehude road
• Midway
• Beautiful view
• Strandkai

The most expensive street in Hamburg is Harvestehuder Weg.

Harvestehuder Weg in Hamburg

Enclosed by the Aussen-Alster and the Isebekanal, the Harvestehude district is located in the Eimsbüttel district. Harvestehuder Weg is also located here. Property prices here are around €16,000 per square metre.

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• The most expensive streets in Hamburg

Munich

The Bavarian capital impresses with its beautiful architecture, a wide range of cultural activities and a high standard of living. As a historic art and cultural metropolis, Munich fascinates families, couples, students and young professionals. Entrepreneurs and investors are also attracted by the proximity to the Alps, the multitude of breathtaking lakes and the proximity to the Italian coast in the south. As Germany’s third largest city, Munich also stands out for its very low unemployment rate, as well as its strong technology and science sector. No wonder that hardly any other city in Germany is as expensive as Munich. Whether it’s a spacious villa in Maxvorstadt, a renovated apartment in the Glockenbachviertel district or a modernised detached house in Bogenhausen – here you’ll find the most luxurious properties in Germany.

So the list of Munich’s most expensive streets is long. See for yourself here:

• Elizabeth Square
• Fleming Street
• Klenzestraße
• Queen Street
• Lake Road
• Mandlstrasse
• Maria-Theresia-Straße
• Müllerstrasse
• Schellingstraße
• Sophienstraße
• Stone Street
• Zuccali Street (North)
• Driveway (south)
• Titian Street
• Montenstrasse
• Bäumlstraße

Among the most expensive streets in Munich are Königinstraße, Seestraße and Mandlstraße in Schwabing.

Queen Street in Munich

The former art and cultural district of Schwabing is home to Königsstraße. The properties here are among the most exclusive in Germany. Property prices here are around 20,000 euros per square metre.

Norderney: Island dream in the North Sea

Norderney is one of the East Frisian islands in the North Sea. Only seven of the 12 islands are inhabited. With its almost 7,000 inhabitants, Norderney is the most densely populated island of all and delights with its unspoilt nature, picturesque beaches and multitude of sights and monuments.

• The most expensive streets on Norderney

Here are the most expensive streets in Norderney:

• On the west beach
• Kaiserstrasse
• Knyphausenstraße

The most expensive street in Norderney is the street Am Weststrand in the west of the island.

On the west beach in Norderney

The street Am Weststrand in Norderney convinces with its proximity to the beach. Several bars, restaurants, playgrounds and green spaces are also located here. Whether it’s an exclusive holiday apartment with a view of the sea or a permanent residence away from the mainland – everyone feels at home here. So if you want to buy a plot of land on Am Weststrand, you have to reckon with 11,200 euros per square metre.

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• The most expensive streets on Norderney

Lake Starnberg

Lake Starnberg is located just under 40 km from the centre of Munich and is thus midway between the Bavarian capital and the popular residential and holiday resort of Tegernsee. Grünwald is also not far away by car. Cultural richness, untouched nature and the quiet and relaxed atmosphere make the communities around the lake a popular place to live. German celebrities in particular appreciate this. So be prepared to run into one or the other famous face here.

• The most expensive streets at Lake Starnberg

Here are the most expensive streets at the Starnberger See:

• Front lake road
• Celtic Road
• Lakeside Road
• South lake road

The most expensive street on Lake Starnberg is Südliche Seestraße in Münsing.

Southern lakeside road at Lake Starnberg

While the north of Lake Starnberg convinces with its small town feeling and the community of Seeshaupt in the south with its family atmosphere, the east of Starnberg is considered a former residence of German nobility. And it is precisely here that the most expensive street in all of Bavaria is located, with its breathtaking view over the entire lake. Property prices in the southern lakeside street are around 25,000 euros per square metre.

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• The most expensive streets at Lake Starnberg

Sylt: The most expensive place to live in Germany

Sylt is and remains an island of superlatives. And there in many respects. The proximity to the North Sea and the unspoiled nature makes the clocks tick differently here. While a large number of European holidaymakers from the mainland are drawn here in summer, the autumn and winter months are all about peace and relaxation. This is also reflected in the purchase and rental prices. Nowhere in Germany is real estate negotiated as expensively as here.

• The most expensive streets on Sylt

Here are the most expensive streets on Sylt:

• Heideweg / Heidewinkel
• Meadow Path
• Hoboken Way
• Osterheideweg

The most expensive road on Sylt is Hobokenweg in the east of the island.

Hobokenweg in Sylt

Also called the ‘street of the super-rich’, Hobokenweg outstrips all other streets in Germany in terms of price per square metre. Only those who can afford it live here: From wealthy heirs to successful corporate executives. Nowhere else in the entire Federal Republic is it as expensive: property prices here are in fact around 35,000 euros per square metre.

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• The most expensive streets on Sylt

Tegernsee

Those who sometimes need a break from the colourful hustle and bustle of the big city will find it at Lake Tegernsee. The lake is located south of Munich and is easy to reach by car. Thus, the communities around the Tegernsee inspire with their idyllic landscape, the high level of discretion and the breathtaking nature. While the breathtaking view over the Tegernsee and the adjacent valleys is the charm of the Leerberg, the communities of Gmund, Wiessee and Rottach convince with their proximity to the lakeshore.

• The most expensive streets at Tegernsee

Here are also the most expensive streets around the Tegernsee:

• Bad-Wiessee
• Gmund
• Rottach-Egern

The most expensive streets on the Tegernsee are in the municipality in Rottach-Egern.

Rottach-Egern on Lake Tegern

One of the most popular residential areas is Rottach – a community south of Lake Tegernsee. Compared to Leerbach, the villas and apartment buildings here don’t have the greatest lake views, but they do inspire with their proximity to the village centre and the lakeside. Especially individuals who do not like to live on top of the mountain like to settle in Rottach. Property prices here are around 15,000 euros per square metre.

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• The most expensive streets at Tegernsee

Baden-Baden, Juist and Constance

Baden-Baden, Juist, Constance and Stuttgart are also home to the most expensive streets in Germany. As always, several factors determine the price per square metre. These include, above all, location, infrastructure, the local cultural offerings and the safety of the residential environment.

Here are some more of the most expensive roads in Germany:

• Lichtentaler Allee (Baden-Baden)
• Beach promenade (Juist)
• Alpsteinweg (Constance)
• At the Bismarck Tower (Stuttgart)
• Feuerbacher Heath (Stuttgart)

The most expensive residential streets in Germany

Source: Image / Engel und Völkers

Overview Video Tips Real Estate

Getting started in real estate as an investment is not easy: Buying your first property means first of all having to learn and understand a lot. Here you will find all the important information about real estate: from real estate agents to successful investing in real estate. Check out our video tips including explanations and summaries so you can become a pro in this field too!

If you are looking for tips online, we can recommend Lukinski.de. Here you will find everything from getting started in real estate to real estate as an investment through renting to saving taxes with real estate (external). All free of charge.

Building Real Estate: Financing, equity and tips & tricks

Building real estate – Buying real estate is not like shopping at the mall. Before you buy a house or an apartment, many aspects have to be clarified in advance. Many mistakes can happen. With our guide you avoid problems and get in the best case the perfect property.

• Video Tips: Build property

Buying Real Estate: The process, avoiding common mistakes & taxes

Buying real estate – Buying real estate is not like shopping in a mall. Before you buy a house or an apartment, many aspects must be clarified in advance. Many mistakes can happen. With our guide you avoid problems and get in the best case the perfect property.

• Video Tips: Buy property

Renting out property: Experience, Landlord, Service Charges & Taxes

Renting out property – Looking to buy property or already have an apartment or house to rent out? Renting out property can be an extremely good way to generate passive income. However, it all comes with many factors and decisions that will determine your success. We have compiled tips and tricks from experts in video form for you, so that nothing can go wrong when renting out your property!

• Video Tips: Rent out property

Real Estate Investment: Getting Started, Financing & Tips for Beginners

Real estate is considered a safe and profitable investment. But what is the best way to invest in houses or apartments? Whatever drives you to make a lot of money: Buying an apartment as an investment is the best idea you will ever make. If you want to invest successfuly in real estate, you need a good strategy. It is underestimated how quickly life can change. Successful investors calculate before they buy whether the expected return on a property will cover the financing costs and whether they can even make a profit in the end. You can learn that here too!

• Video Tips: Real Estate Investment

Make money with real estate: Investing, Passive Income & Equity

Earn money with real estate – this is a plan that many people have. What one or the other hopes for: to receive additional money in old age. Thus, one gets not only the pension, but for example, even rental income. The idea behind this is that someone buys a property and then rents it out to earn money. In this article you will learn how much passive income you can expect, what different ways there are to invest in real estate and whether you can buy real estate at a young age – during your education. Furthermore, you will learn how you can invest in real estate without already having the big money.

• Video Tips: Make moneywith real estate

Real estate financing: Tips & tricks from experts

Real estate financing – You want to buy a property, but do not know how you can finance your dream? Terms like loan, interest, credit, repayment or building society contract only raise more questions for you? Here you will find all the important information on the subject of real estate financing: from financing with equity to financing without equity to applying for a loan, we cover all the important topics!

• Video Tips: Real estate financing

Real estate agent: tasks, costs and know-how

The profession of real estate agent is interesting for many, but what is behind it? Is it true that there is so much money to be made as a real estate agent? How does a real estate agent spend his day? And how do you become a real estate agent? Whether it’s information on training or how to avoid the biggest mistakes as a real estate agent, you’ll find out in this article. With the help of this video list you can click through the different areas of real estate agent.

• Video Tips: Real Estate Agent

Selling Real Estate: Tips, tricks and expert opinions

Selling real estate: You have invested in your own property or inherited a house and now you want to sell it for a profit? But you don’t know exactly which factors, circumstances and rules to consider or which mistakes you should avoid at all costs? We have compiled the most exciting, helpful and informative videos for you to prepare you perfectly for your upcoming house sale!

• Video Tips: Sell real estate

Buying & renting property: Tips for beginners and professionals

Buying and renting real estate? It’s hard to get started, but with the right recommendations and tips, it’s easy. To help you get off to a smooth start in the world of real estate, we provide you with tips and tricks. From how to prepare to buy your first home, to how to find the right rent, to how to solve problems like loss of rent and vacancy, this guide provides you with the best videos on buying and renting real estate.

• Video Tips: Buy & Rent Property

Real estate as an investment: tips and tricks for beginners & professionals

Real estate as an investment? You want to have a passive income and real estate as an investment? Buy a house or apartment, real estate as a long-term investment and thereby generate high income in the future? However, you are still new to the world of real estate and are looking for tips & tricks on how to invest in real estate as an investment? Here you will find tips and important know-how on how to become successful in the real estate world. How do you buy real estate as an investment, what risks are there or can arise? Most importantly, what mistakes are often made and how can you avoid them? We enlighten you!

• Video Tips: Real estate as an investment

Tip! Real Estate XXL: Investment, Sale & Co.

The world of real estate is complex and multifaceted. If you want to keep an overview and avoid making mistakes, you should prepare well and clarify as many open questions as possible in good time. No matter whether you want to build, buy and rent out a property or live in it yourself, or even use a property as an investment to generate passive income: The preparation is the A&O. Here you will find articles, as well as book and video tips with successful and helpful books and videos on the subject of real estate – including tips and tricks from professionals and experts.

• Book and Video Tips: Real Estate XXL

House, condominium & Co: Selling real estate

The process of selling real estate depends strongly on the type of property. Depending on this, different steps and documents are necessary. In general, when selling real estate, you should always first consider whether or not you want to hire a real estate agent. Also increase and decrease in value factors should be kept in mind.

Buy and sell (external & free of charge)

Learn from the experts. You can find many, many more guide articles for free at Lukinski. Here you can learn everything you need to know about buying real estate for free. Start in general with buying real estate, go over your specific type of real estate, from apartment, to house, apartment building to buying land. Also important, everything about the purchase contract (who pays the costs?), ancillary purchase costs and saving taxes with real estate. through legal forms such as a real estate GmbH or family foundation.

However, Luxury Realtors also write new articles on selling property every week. With more specific advice pages on selling a house, selling an apartment, and multi-family house and land.

Valuation, declaration of division & important documents

Apartments are particularly popular with people starting out in their careers and young couples. They are inexpensive, also allow living in the inner city and often provide the perfect basis for the first home of one’s own. But not all apartments are the same. Whereas in big cities like Berlin and Hamburg it is mainly apartments on one floor that are in demand, fresh air lovers tend to prefer a terrace apartment. High warehouse and industrial spaces of the past are increasingly being converted into loft apartments of the modern age and are enjoying high demand due to their high walls and spacious floor plans.

The two-storey maisonette apartment and the exclusive penthouse on the top floor represent the top class of the apartments here.

Valuing an apartment: increase & decrease in value factors

One of the most important questions you have to deal with as a seller is: How much is my home actually worth? There are several factors that ultimately influence the value of your property. For a rough sales value, it is first worth taking a look at:

• Location of the apartment
• Infrastructure
• Equipment

The geographical location of the apartment, i.e. the immediate residential area, can mean an increase in value for you here and, from experience, always proves to be a good sales argument. The better the location of the apartment, the more expensive it is in terms of value. The same applies to the connection to public transport and the proximity to hospitals, cultural sites & Co.

The closer you are to public life, the more these factors add value.

In addition to such soft and hard factors that influence the value, the crime rate in the residential area is also important. Again, the principle applies. The safer, the better. However, the crime rate is not just a number, but also the feeling of safety. Thus, this factor can be defined as a ‘mixed factor’ in housing valuation.

Renovations and modernizations in particular are value-enhancing:

Calculate purchase price: Criteria for determining the value

Now that you know roughly which factors influence the housing valuation, let’s go into a little more detail. In the second step, you must now look at the other criteria in determining your property value:

1. Year of manufacture
2. Living floor
3. Number and size of rooms
4. Balcony, terrace and winter gardens
5. Common property

Due to the inferior building fabric at the time, owners of apartments from the 1960s and 70s must unfortunately reckon with a price discount today. However, those who own a refurbished old apartment (built before 1945) or a modern new-build apartment can rather look forward to an increased construction value.

Lofts and penthouses also sell more quickly than ground floor apartments due to their popularity. For these, there is often a reduction in sales value of up to 30%. Converted attics and lifts to the top floor are also considered to increase value.

-30% for ground floor apartments

In addition to the size and number of rooms, extras such as balconies, terraces and conservatories are also decisive in determining the value. Depending on the design and the number of square metres, these can be taken into account as additional living space. Common property in the form of well-maintained outdoor facilities, staircases and lifts can also have a positive effect on the sales value as part of a community of owners.

• Read more: Sell apartment

The most expensive cities for condominium in Germany – Ranking

Whether you’re selling your home or looking for a condo as a buyer. It’s always good to be familiar with the current real estate market across Germany. This chart gives you an overview of the cities in Germany with the most expensive condos.

Documents for housing valuation

The following documents are important for determining the exact value of your home:

1. Land register excerpt
2. Declaration of division
3. Floor plan
4. Minutes of the owners’ meeting
5. Housing allowance statement for the last three years
6. Overview of the maintenance reserve
7. Proof of insurance
8. Energy certificate
9. If applicable, a copy of the rental contract, if your apartment is rented out.

House & apartment forms at a glance: List

In the real estate market, there are a lot of different types of construction. Both in the field of apartment and houses, there are many forms and types according to which a property is designed. These are divided into different formats. We have clearly listed some of the most common house and apartment types for you here. You can find more information about the respective property type in the corresponding article by clicking on the corresponding link.

House types at a glance: From bungalow to prefabricated house

Here you will find a list with an overview of all common house types. The linked article provides you with more information about the respective house form, introduces you to peculiarities and definitions and you also learn which house type is suitable for whom and why. In addition, we introduce you to the advantages and disadvantages of the respective house form in the associated articles.

• Bungalow
• Semi-detached house
• Single-family house
• Half-timbered house
• Holiday home / weekend house
• Beach house
• Prefabricated house
• Country house
• Massive house
• Terraced house
• Villa
• Low-energy house
• Zero-energy house
• Passive House

Overview of apartment types: Old building apartment to basement

The housing market is highly competitive and there are many different types of housing that come with certain characteristics. In the corresponding articles you will find definitions and information about the respective type of apartment, as well as a list of potential advantages and disadvantages of the corresponding apartment.

• Old apartment
• Apartment
• Attic apartment
• Granny flat
• Apartment
• Loft
• Maisonette apartment
• Penthouse
• Basement apartment
• Terrace apartment

Selling a house: taxes, costs & selling process

Single-family homes are among the preferred properties of Germans in almost all federal states. As the name suggests, they are occupied by a family, a couple or a single person. Single-family homes come in all shapes, colours and types – from the modern city villa to the romantic solid house with garden to the environmentally friendly efficiency house.

Off Market Deals: Selling luxury real estate thanks to independent acquisition

If your property is in the higher price ranges, then it’s worth thinking about selling it off market. Off market means that the sale does not take place publicly, but is sold internally. Public figures in particular, such as celebrities, politicians and many an aristocrat, prefer this type of acquisition. Whether you want to sell your house with or without an agent is up to you. The only important thing here is a good network. Ideally, you should use a broker who also specializes in off-market and thus has a large network of potential buyers.

Selling a house without an estate agent: Ultimate checklist

Many start out thinking that they need to rely on a realtor for their home sale. However, this is not always the case. Even alone, it is quite possible to successfuly sell his house and also brings some advantages with it. So that you can estimate but already times, what comes with a brokerless acquisition on you, here is already times an overview for you:

1. Determination of the sales price by valuation
2. Exposé – or advertisement creation
3. Compilation of necessary documents
4. Development of a sales strategy
5. Contacting interested parties
6. Organisation and realisation of the viewing appointments
7. Drafting of the sales contract
8. Perception of the notary appointment

House valuation: market value, net asset value & Co.

The house valuation is ultimately used to calculate the purchase price. Of course, before you take the next steps to sell your property, you need to set this price. Several factors play a big role in your property valuation. These include, for example, micro and macro facilities, background noise, location and outlook.

In this context, there is also talk of a market value and a net asset value of your house, which is included in the house valuation. The former is the price that is calculated at several points in time by various criteria, while the net asset value is influenced by the production costs of the property and the standard land value.

Keep an eye on ancillary purchase costs: Inheritance tax & notary fees

Often incidental purchase costs are also incurred when selling a house. These are usually borne by the buyer. While the transfer in the land register and the notary fees are paid by both parties, in the event of an inheritance, inheritance tax is also due. This depends, among other things, on the individual tax-free amount. Don’t forget that these regulations differ from state to state.

Whereas in Schleswig-Holstein these additional costs can amount to up to 15% of the sales price, in Bavaria they are only around 10%.

Another tip: If there is still an unpaid loan on the house, it is worth negotiating with the buyer about a loan assumption. Here it is worthwhile to get the opinion of an expert again.

Also bear in mind that for owner-occupied property there is a two-year period during which you do not have to pay tax on the profit from the sale. This means that there must be at least two years between the notarisation dates for the purchase and sale.

The most important documents & contracts at a glance

Your decision to sell your house has been made. The checklist for the house purchase is ready and you have also already determined the selling price. Now you just have to put together all the important documents.

1. Floor plans
2. Site plan
3. Land register excerpt
4. Fire Insurance Certificate
5. Overview of additional costs
6. Listing of all renovation work
7. Photos
8. Current energy certificate
9. The indication of the living space
10. Any existing leases
11. If there is more than one owner, indication of the ownership structure
12. A detailed object description

Attention with existing leases

If your house, or at least part of it, is rented out, you need to factor that into the sale. You can still sell your property, but you must be able to justify this. Even if renovation or demolition work is the reason for selling the house, this must be explained to the tenant.

• You can find out more under Selling a House

Ultimate price comparison: This is how much a house costs in German cities – Statistics

The prices for apartments, houses & Co. vary considerably in the Federal Republic of Germany. Here are some general statistics on the purchase prices of detached single-family homes. Purchase prices in Bremen, Rostock, Erfurt and Leipzig tend to be lower. Cities such as Cologne, Berlin and Hamburg are in the midfield in terms of price. At the top of the most expensive purchase prices here is the Bavarian capital Munich.

Apartment building: rental agreements, sales price & Co.

Since the sale of an apartment building is still a house sale, the process here is similar. However, since there are multiple parties involved, there are a few extra steps. You’ll need to keep these in mind when planning the sale process, of course. As always, ideally you will already have a follow-on property in mind and have already thought about the selling price of your apartment building.

Questions to ask yourself: tenant, prepayment penalty & right of first refusal.

Here’s an overview of the most important things you need to think about ahead of time to avoid any nasty surprises when you sell.

1. Do you have a follow-on property lined up?
2. Is there a need for renovation / refurbishment of the house?
3. Do you have all the necessary documents, such as declaration of partition, building insurance, minutes of the owners’ meeting, utility bills, list of rents, etc.?
4. Are early repayment penalties payable?
5. Do you have an overview of the maintenance costs?
6. Are you planning to sell inventory with it?
7. Is there a right of first refusal?
8. What’s your take on home valuation?

Valuation of a multi-family house: procedure & costs

The subject is complex. Micro and macro factors naturally play an important role in determining the sales price. Of course, this also includes the location, comparable properties, building fabric, etc. The method used to determine the value depends on the type of property. In general, however, the following rule applies: a purchase price must always be well-founded, market-oriented and realistic. There are a total of five procedures for this:

1. Comparative value method
2. Capitalised earnings method
3. Real value method
4. Residual procedure
5. Determination of the mortgage lending value

Of course, the price is not calculated directly down to the last cent. The final purchase price will follow at a later date and is based primarily on the estimated value of your house. In principle, you can remember that the valuation of a property under 150,000 euros will cost about 1,500 euros. If your property is valued at over 1 million euros, it will eventually cost 3,000 euros.

For the calculation, a rough valuation is carried out first. The price for the final valuation is therefore based, in most cases, on the estimated value of the property to be valued.

Material value and market value influence the sales price

The valuation and the final sales price can differ, as already explained. For the final price determination, not only the asset value is decisive, but also the market value. The asset value tells you what the objective value of your house is, in terms of year of construction, equipment, building fabric, etc. The market value (often referred to as the fair market value) is the value of the property. The market value (often also called fair market value) is the one to which the sales price is related. Factors relevant to the environment and factors specific to the market are related here. When demand is high and offers are low, the market value is now usually higher than the asset value.

Tip: Renovations and modernizations increase value

Especially when selling an apartment building, it is also worth considering renovations and modernizations. These always have a value-increasing effect. For example, damp patches on the walls and mould should now be removed. Damaged parquet and old window frames also make a significant difference. Always make sure that any damage is repaired. Otherwise, in the worst case, a sale can also be reversed due to cover-up.

If you also want to sell your indoor and outdoor furniture, this is also a value increasing factor:

Documents for the determination of the market value

So that you know which documents are important here in the determination of the market value, we have an overview for you:

• Land register excerpt
• Construction plans, floor plans, sections
• Building specification
• Site plan and cadastral map
• Living space calculation
• Energy certificate

In the case of condominium ownership, you will also need the following documents:

• Minutes of the last three owners’ meetings
• Business plan
• Declaration of division (land register)
• Housing benefit statement

If necessary, you also need for income properties:

• Operating costs
• Rent statements
• Rental agreements

To be seen with rights and encumbrances:

• Notarial deeds
• Special entries (rights of way, residential rights, etc.)

Property prices in the most popular cities in Germany

To choose one’s place of residence freely – that is what many people wish for. But where to then is the question? The individual states and cities of the Federal Republic all bring their own charm and advantages with them. Ideally, you want to be able to find a job quickly, the property should be in the budget and a stable infrastructure is also very close to the hearts of most people. To help you decide on your next home, we have city maps and square meter prices for Berlin, Hamburg and Munich for you.

Berlin: German capital popular with investors

As the capital of the Federal Republic of Germany, it is the hub of European politics. The seat of government can be found here, as well as a multitude of historical monuments. The job market has also been stable for years: there is hardly any other European city where so many start-ups are founded as in Berlin. Different cultures, religions and influences come together here and thus make up the Berlin flair. Another plus:

Berlin enjoys ever-increasing popularity with real estate investors

City map: Pankow, Lichtenberg, Marzahn & Co.

The German capital Berlin consists of 12 boroughs and 96 districts. Moreover, the city offers a lot of variety due to its rich history and role as the capital of the Federal Republic of Germany and is popular not only with non-European tourists, but also with the younger generation.

Prices per square metre: From Hellersdorf to Berlin Mitte

You can expect to pay just under €2,100 per square metre in the Hellersdorf district of Berlin. The most expensive areas, on the other hand, are in Berlin Mitte and Dahlem. Here is the overview:

• Hellersdorf: 2,100 euros per square metre
• Hohenschönhausen, Reinickendorf, Spandau, Tempelhof & Marzahn: 2,500 – 3,000 euros per square metre
• Berlin Mitte and Dahlem: 6,000 euros per square metre

Here you can see the real estate prices for Berlin in the development from 2005 to 2020.

Hamburg: Hanseatic city attracts young people in particular

While Berlin counts as a hub of politics, Hamburg occupies an important economic position for Germany. The Speicherstadt is well connected with other European countries, which is also reflected in the diverse range of gastronomy. Eta 110,000 new citizens have called the Elbe metropolis their new home since last year. Due to the economic situation of the Hanseatic city and the exclusive residential areas, high earners and investors are also regularly attracted here.

City map: Altona, Bergedorf, Wandsbek & Co.

Hamburg consists of seven districts or neighborhoods:

• Altona
• Bergedorf
• Middle
• Harburg
• Eimsbüttel
• North
• Wandsbek

From romantic villas on the Elbe to modern apartments in the city center, Hamburg leaves nothing to be desired and offers something for everyone. No wonder that the Hanseatic city is becoming increasingly popular, especially among students and young professionals. Here you can see a rough overview of the city:

Prices per square metre: Condominiums on the Alster are gaining in value

South of the Elbe you will find rather reasonable prices (approx. 2,500 euros per square metre), whereas top prices starting at 7,500 euros per square metre can be found mainly on the Alster and in the luxurious areas of the Elbe.

Here you can see the real estate prices for Hamburg in the development from 2008 to 2020.

Munich: Highest billionaire density in the Federal Republic of Germany

Due to the quality of life in the Bavarian capital, Munich is also on the list of Germany’s top cities. The traditional architecture, combined with the metropolitan flair and the typical Bavarian coziness enjoys great popularity, especially among Germany’s billionaires and global entrepreneurs.

City map: Small districts with a high quality of life

Munich consists of 29 districts and 25 boroughs. The three most popular districts of the Bavarian capital are characterised above all by their high quality of life and are therefore the most popular with apartment hunters:

• Neuhausen-Nymphenburg
• Trudering-Riem
• Schwabing West

Here’s the map again:

Prices per square metre: Munich is the most expensive city in Germany

Munich is known to be home to the largest number of billionaires in the Federal Republic. So it’s not surprising that the purchase price of a single Munich condominium is twice as expensive as anywhere else.

Here you can see the real estate prices for Munich in comparison to the real estate prices in the whole of Germany.

Tax structuring when selling real estate: owner-occupation & state subsidies

How to save taxes when selling real estate? The problem: Many owners fall into the tax trap here and pay money unnecessarily. The solution: tax structuring. Real estate investor and tax coach Alex Fischer regularly gives tips for sellers on YouTube as well as on his blog.

Tip: Costs of the real estate agent tax deductible

In parts, this is also possible. Anyone who buys a new property after selling it can now deduct the brokerage costs for tax purposes. But only if the house or apartment is subsequently rented out. In the case of owner-occupancy, the linear deduction of the fees is unfortunately not possible.

Also deductible: brokerage fees incurred in finding a tenant.