Buying Green Belt Land in Germany
Hi, can you please give me your opinion on buying non urbanised plots of land in Germany.The land is towards the coast and i have been advised that a similar plot is now being developed but i am a bit wary.Your advice would be appreciated.ThanksGentlemen,
I am a real estate agent and broker with offices in Germany. The days when an amateur could benefit from the State or court auctions are over. This is not a place to purchase unless you have local knowledge.
In many cases the bidding is going way over the window price in the local agents. It is like sharks at a feeding, everyone just goes crazy at the false idea they are bidding on a bargain.
Once you have bought the property, What are you going to do with it? Put it back in the auction and hope for a bigger fool than you in the next auction because most of these properties are unsellable for various reasons.
I have and will continue to buy at auction but not without getting my local experts involved. Like I said the good times are over - I could, not so long ago, walk away with maybe a dozen good properties at good prices - not today - I would be lucky to find one or maybe two at each auction and because plane loads of people have been fooled into going over to attend these auctions I will be bidding against too many dreamers with no idea of the local value, laws, restriction, taxes etc so I tend to drop out quite early in the process knowing I can make a phone call to a local agent and find a similar property listed with them.
There will be those who may come onto this forum and argue against this posting - You choose who to listen to.
There are bargains to be had in Germany and as a long/mid term investment it is hard to beat when you consider the safety net and the changes coming in German law, but - the auctions - be afraid, very afraid.