WHY BERLIN & GERMANY
Population: Circa 3.4 Million
Size: Circa 890 Square Kilometres
Of which 12% Recreation
18% Forest
7% Lakes & Waterways
Remainder Residentail/Commercial
Berlin is
- The most densley populated city of Germany
- After London the 2nd biggest in Europe
- Since 1990 the capital of Germany
- Since 1999 the seat for the parliament
- Central in Germany
Headquarters for large National & International firms such as Sony, Hitchi, Coca Cola, Siemens, Daimler Chrysler, BMW, Schering, Gillette, Samsung……
City with most newspapers in Europe
Media Headquarter for 7 major TV channels in Germany
Music capital with Universal Music, Sony, BMG and MTV
One of the cheapest capital cities for residential/commercial property in Europe
Purchase Transactions:
Unlike in Ireland estate agents fees are paid by the purchaser in Germany. Fees vary from 3 to 6% payable. Between stamp duty, notary and registration fees, auctioneers fees an additional 10% need to be added to all property prices quoted. Notaries in Germnay handle purchase transfers. Schiller & Schiller can recommend vaires Notaries as well as Irish solicitors which are familiar with German law to check all pruchase transactions for a client.
German Banks will finance property bought by non-nationals. On average this can be between 40 to 50% of purchase price depending on property bought. There are tax breaks available on property bought that is classified as a listed building. Otherwise net income from rental is taxable at 20% in Germany.