If you’re looking to invest in international property, you couldn’t do better than Germany.
Europe’s largest economy is also its biggest residential buy-to-let market, where the popularity of renting has led to one of the world’s lowest home ownership rates.
The country’s stable political and economic environment also make it a safe prospect for investment. Germany’s two largest cities, Berlin and Hamburg, were recently named by international consulting and auditing firm as the top two cities in Europe for investment and development in 2017.
Buying property in Germany means you’ll benefit from the full protection of German law. But that can also mean a lot of paperwork and new rules to learn. If you need any help about that please visit novagoldenvisa.com website or go directly Germany Investment Web Page
What laws do you need to know?
If you’re buying residential property in Germany, these are some of the most important rules to be aware of.
- Full freehold title – this is the most common form of real estate ownership, which includes condominiums (Wohnungseigentum). After you purchase a property, its ownership won’t be transferred until it’s entered into the land register. This process can be lengthy, during which your rights will be protected by a priority notice.
- German tenancy law – if you buy a rental property that has existing tenants, their current lease arrangement will continue, with you as the landlord. Most rental contracts are entered into for an unlimited time, meaning rent adjustments are expected after an acceptable period. However, any changes to the lease arrangement need to have common consent between the landlord and the tenant.
- Rights of termination – if you choose to terminate an apartment contract, you need to provide tenants with a notice period of at least three months, depending on the length of your rental relationship. You also need to cite good cause, which can include you or a family member moving into the property or the tenant having breached their contract.
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