Tuesday, Dec 19, 2006
Move to Berlin to get on the ladder
The Sunday Times: Berlin — the next property hotspot
Flats for sale from €50,000 in Berlin
Posted by sold 2 rent 1 @ 04:57 AM (1252 views) Add Comment
4 Comments
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2. Nick said...
The banks in Germany insist on Foreclosure on Mortgages. A law which I believe is being changed. If you agree to a 100,000 Euros mortgage at 5% over 25 years your bank knows you will pay them 177,381 euros, over the 25 years. If you choose to sell this flat after 5 years the bank will still require foreclosure, their 177,381 euros. Even if the flat is only worth 105,000 euros your 5 year investment will turn out to be a loss of 72,381 euros. Not a very good investment. I rent in Hamburg for 600 euros a months including bills. Happy Days.
3. tyrellcorporation said...
Oh f*ck off!!! Property 'hot-spots', I'm sick of hearing it!
4. sold 2 rent 1 said...
Nick,
That is incredible.
Now it makes sense why Gernans perfer to rent.
When is the law due to change