Guides on Buying New Builds in Germany
Frequently asked questions about new buildings in Germany
What are the advantages of new buildings compared to older buildings in Germany?
The apartments in the new residential complexes have more spacious and original layouts than in the buildings of the old stock. The new buildings also have a better developed internal infrastructure. Most of them are built by German developers according to the "city in the city" principle. This allows tenants to enjoy all the amenities without leaving the compound.
What are the rules for foreigners when buying housing in new buildings in Germany?
Foreigners can freely purchase real estate in Germany in new buildings. Purchase is allowed for cash and through mortgage programs. Transactions take place at a notary.In addition to the cost of the apartment, foreigners need to pay the tax on ownership of new property, registration fees, realtor's fees and notary fees. In total, these costs are about 10-17% of the price of the property.
What documents are required to purchase real estate in a new building in Germany?
Foreigners need a passport and visa. It is also necessary to open an account in a local bank, from which the money will be transferred to the seller after the purchase.
