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Germany Property Investment News
"Easy" investment in Germany
Conservative lending practices are a great help towards speculating on investment property in Germany, says one market analyst.
With a relatively low interest rate of 5.5 per cent and house prices remaining relatively stable, as the European property boom bypasses Germany, moving into the German market is a simple process, according to Anna Grybel, a property market researcher for Property Secrets.
She explained that property valuations tended to be around 10 to 15 per cent below market value
"There are no restrictions on foreign nationals buying in Germany," Ms Grybel commented, "and the process is pretty straightforward and easy.
"It is common to use an agent, who makes an offer in your name. If your offer is accepted your lawyer or notary draws a contract.
"Money is paid to the seller only after the registration of property is completed. All taxes are paid in four weeks after the contract was signed."
She confirmed: "It takes on average 40 days to complete the procedures."
Dresden and Leipzig were recently earmarked as potential property hotspots.
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