In the last 15 years, real estate prices in Berlin have raised more than 120 percent and there seems to be no end in sight as people around the globe seem to all want to move to the city that has great food, a hot art scene and a friendly attitude. Whether you want one of the architecturally amazing buildings in Charlottenburg, a home around the delicious Turkish restaurants in Neukölln, an apartment in the art district of Kreuzberg, properties around the active nightlife of Friedrichshain, the diversity of Mitte, the Bohemian atmosphere of Prenzlauer Berg or to own complexes in the lush green inner core of Tiergarten, you can be almost guaranteed that your investment in an apartment or home will grow. It really does not matter if you are looking for old or new buildings under the current conditions.
Alternatively, like approximately 45,000 people discover each year, Berlin is a great place to live. Many European companies choose to run their companies from here, so there is a constant need for luxury apartments for the high-paid executives. If you are looking for a great place to start a new business, then this city has one of the highest venture capital rates of any city in the world. The city is also poised to become one of the major leaders of the world in technology. Germany's economy shows very little chance of slowing down over the next few years.
With an average age of just 42.7 years, many people are just starting to want to sell their apartments to move to larger apartments. While these people are looking for larger homes, there are plenty who are looking to take their place within this booming economy.
By world standards, it is relatively easy to buy and sell real estate in Berlin.
While some just put an ad in the local newspaper or on the internet and wait for offers to pour in, the smart investor will work with international real estate agent like First Citiz Berlin to benefit from a maximum market visibility and to get the best price whether they are buying or selling.
For property sellers
As with any important life decision, the process should start by answering some important questions. After all, this may be one of the largest transactions you will conduct in your lifetime. For example, if you are the seller, then you need to consider if there is a better time of year to list properties, how can I afford a new place while still paying the mortgage on your current one and what legal requirements must be completed before you can complete the sale.
One of the ways that you can minimize hassles when selling a property in Berlin is to trust the advice of a knowledgeable real estate agent. The agent can help you appraise current market value. Since many potential buyers are located overseas, the agent can also assist with taking professional photos making the entire property and your apartment look its best while still presenting a realistic viewpoint. You can trust him or her to know where to market your property with your goals in mind whether you are looking for the fastest sale or the highest asking price or a combination of both.
For property buyers
Alternatively, if you are looking to relocate or invest in a property like an apartment or a home, then you may need help completing a sale like locating bridge financing, learning about what paperwork needs to be completed on the sale of real estate and how quickly the transaction can be completed. If you fail to answer any of these questions correctly, then you may have to pay additional costs or experience long delays.
Working with an agent allows you to minimize the amount of time spent looking for new properties as they know what is available. They can also help you get all the governmental paperwork in order to complete the sale quickly. If you are interested in buying an existing apartment building in Berlin, then an agent can help you learn about the current tenants in the building and what they are paying in rent. The agent can also advise you on the building's potentials.
Regardless of whether you are the buyer or the seller, the agent can help you negotiate a fair price. Once the purchase is ready to be completed, then the agent can refer both parties to bilingual notaries to complete the required paperwork. If a deal falls through, then the agent can help you start on a new one right away.
The Bottom Line
Working with an international agent has many advantages including:
• Fair property appraisal based on the rapidly changing conditions found in Berlin
• Increased visibility because of their expert knowledge
• Increased security and protection of financial data
• Fair and quick prices for both buyer and seller because of their knowledge of the law and market conditions