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 (1596 views)
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4 Comments

1. This comment has been removed as it was found to be in breach of our Blog Policies.

 

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.

Tuesday, December 19, 2006 01:56PM Report Comment
 

3. tyrellcorporation said...

Oh f*ck off!!! Property 'hot-spots', I'm sick of hearing it!

Tuesday, December 19, 2006 03:18PM Report Comment
 

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

Wednesday, December 20, 2006 12:18AM Report Comment
 

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