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Berlin Beware, again.

Discussion in 'German Property' started by Lewis, Jul 15, 2008.

  1. Lewis

    Lewis New Member

    In this months edition of a popular overseas property magazine was an article leading the unwary to think the German authorities were selling off social housing, (true) with selected tenants (possibly true) at very low prices (true) through an established company operating in Berlin (true).
    This same company had its wares a little more exposed a little more truthfully in a broadsheet a couple of weeks back.

    I know these areas and these properties and the sort of untruths/obfuscations/ommissions this company is likely to attempt or has attempted to beguile unwary investors.
    Firstly; these properties are overwhelmingly in the Marzahn district - those of you in the know will already be wincing. Unless there is a fairy with a magic wand or the Federal Government is going to invest hundreds of millions in the area it is a basket case - buyer beware.
    Secondly; How were these tenants selected? Because they take in oxygen I would suggest is the main criterion. Even if you had the sweetest little old couple who always paid on time it would not alter the fact their neighbours are there for different reasons altogether. - buyer beware.
    Thirdly - the already low prices in Berlin are even lower in the Marzahn - Why do you think this might be? - buyer beware
    Fourthly - Given the above (all irrefutably true, unlike the ommisson in the popular magazine) Is this an area the small time investor should be considering?

    My advice to any client of mine would be to get on the S-bahn out and keep your wallet close and closed)

    I have never touted like this on here before but perhaps now is the time.
    I have housing association stock, ready to sell. A LOT OF IT HOUSES AND TOWNHOUSES AND NOT JUST APARTMENTS. They are rented out at around 5% yield, immaculately maintained. Some with terrace gardens/balconies, management company in place and an absolutely pain free transaction.
    These areas are in Mariendorf, Blankenfelde, and even a couple of lovely houses in Kleinmachnow (doesn't get much better than that) Prices between 70k for one bedroom to 245k for 3/4 beds. It would take a very picky agent or customer indeed to fault the areas or the properties.
    Good potential for growth especialy given the new international airport coming on line in 2012.
    These properties are all exclusive - no other agent in the UK has them - so talk to me.

    Iwill also have in the next two weeks a variety of investment grade apartments and only in areas which can be considered amongst the most desirable in Berlin,
    ALL WITH TENANTS - MOSTLY LONG TERM.
    No bells - whistles - smoke screen inducements - I don't and never will operate like that - just solid good stock, with good capital growth prospects, management company that can be trusted to uphold their end of any contract - unfortunately these will probably not be exclusive to me (though I wish they were).

    I nearly forgot to mention, finance is available with all of these providing you meet the lenders expectations (Quite stringent and rigid in Germany alas) I can help to broker the finance, but again no magic wand to make it possible for everyone to be eligible - If you have your own source - great, if not talk to me, I'll have our broker call you.
     
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