The Administrative Court of Berlin has decided under an emergency procedure that the use of apartments as holiday homes in residential areas may be contrary to the requirement of being considerate.
And there is no week where we can’t read articles in papers and magazines, nor hear features in the radio and watch polemical talks in the TV. In the end the conclusion is almost always the same: investors are under suspicion of destroying old, grown together urban structures. Are residents and quarters in Berlin really being totally run over unexpectedly, as we are told?
Investors are currently planning and building significantly more new buildings in Berlin. The Senate Bureau of Statistics published in a recent report that this year the authorities have approved 40 percent more building permissions for new homes than in the same period last year.
For many “smaller” investors, buying a property in Berlin is associated with a high financial effort. We support you during the whole acquisition process.
#1 In order to assure that the property leads to an additional income and does not become a burden for you, you should consult an expert with the due diligence of the Berlin property and follow some basic rules. Rule # 1: Set up a solid financial plan for your Berlin real estate. Buy only Berlin real estate that you can afford in the long term. The investment property should be at least largely repaid when you retire. If the interest and repayment of a financed property is not carried from the rental income, these costs will have to be paid even if the retirement income is lower or, in the worst case, no longer available.