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Brought in Berlin took six weeks

Discussion in 'German Property' started by eddie 55, Jul 24, 2007.

  1. eddie 55

    eddie 55 New Member

    Hi I brought a small studio apartment...10 mintues walk from main city centre
    It took six weeks...signed and sealed the deal.
    price....£24.000 thats all the cost paid aswell, very easy to complete.
    I love Berlin, and I am amazed at the prices, still very low for European
    city.....I would advice anyone who wants have a good investment..in the
    years to come...the city is wonderful and the Berliners are very friendly.

    If anyone would like any information....let me know...
    Best Wishes
    New Member Eddie55
     
  2. JMBroad

    JMBroad New Member

    Hi Eddie,

    Sounds great how fast and easy your purchase went and nice price too!

    What concerns me about Berlin is the amount of property on offer and the low demand...

    Every time I hear about Berlin it's regarding another company which have pulled out of investing there to invest elsewhere. While real estate investors still seem very interested in Berlin, it seems every other kind of businessman is avoiding Berlin to head more towards the other German cities which can offer more. I was recently talking to a chap about investments (not real estate) in Germany and was told that it's one to stay clear of. If that is the case with the multinational companies (that they are staying clear) then where are the new jobs and opportunities going to come from which will entice people back into the city and increase the demand for new/renovated housing?
     
  3. eddie 55

    eddie 55 New Member

    Hi, Small investors are buying commercial property....I don't know all the In's and outs, but what I saw when I visited Berlin was a very vibrate city and the prices for a good size apartment are so cheap....it's got to be a very small risk to take.
    Sometimes when we do too much debating and homework on buying property abroad
    instead of just going on instinct....if you look at any other major city like Paris
    London, Rome, I don't think you can beat these prices..in Berlin.
    I brought my house in England for £30.000 about 15 years ago...and now I remortgage my main property to buy property aboard. (3rd investment)
    My apartment is rented out...not a lot of rent coming back( after maintaince)
    but the fact that the tenant has been there four years...money is coming in,
    so the outlay for the investment on £23.000 is £100 per month (rent included)
    Just helps towards the pension.
    Hope this helps...Regards eddie55
     
  4. dpj1973

    dpj1973 New Member

    eddie, you sound like you have my outlook, do too much research and you will be put off buying anywhere, including the u.k for the last 7 years, with hindsight id have bought a town!......what kind of rental income can you get from your money after paying everything in berlin, would you do anything differently if you did it agian.......i need to cover my remortage.....thanks for any advice
     
  5. bobandsheila

    bobandsheila New Member

    Hi Eddie,:)

    Yeah, I'd like some info please!! I'm looking into the right areas that will rent out quickly and well, but that are at the right price.

    Any advice please?:confused:

    Thanks

    Karen:eek:
     
  6. eddie 55

    eddie 55 New Member

    Hi Bob and Sheila...have sent you a email.
    I still say Berlin is a good investment, compared to other major Cities...but as
    a long term investment...and you can always guarantee rental..which makes the investment even more appealing...but after the take-outs like cost of heating etc. there is some income a month coming in..not like holiday lets
    when the season finishes the money stops ..unless it is somewhere
    where there is 360 days of sun.
    The prices in rural France were only push up because of the amount of overseas investors buying in the areas...no big companies in rural France
    but prices continue to rise...this is just my personal opinion

    Best Regards..Eddie55
     
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