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German real estate

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Housing construction has become such a hot topic in Germany that it has broken out of the dedicated property sections of the country’s major daily newspapers and is now making front-page headlines and being discussed on the comfy sofas of mainstream current affairs programmes. Let’s take a look at some of the facts that everyone seems to agree on, and examine how many of the problems currently putting a brake …

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EnEV, Germany’s Energy Saving Ordinance, is something that everyone in Germany’s real estate industry is familiar with. After all, around 25% of the country’s carbon emissions come from residential and office buildings. For non-German speakers it’s not always easy to understand the Energy Saving Ordinance, which is why we’ve put together an outline of how these important regulations have evolved over the years and an insight into what changes are on their …

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Project development – tax breaks planned Project development is crucial if Germany is to get to grips with its housing crisis. There  was a very interesting article in Spiegel Online on 26.11.2015 outlining plans being floated by Germany’s coalition government, namely via the CDU’s “iron-fisted” finance minister Wolfgang Schäuble, to help relieve the pressures on housing in many of the country’s major cities. Read on to find out what the coalition …

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Urban development is back on the agenda in a big way in Germany. Faced with a shortage of affordable housing, a lack of accommodation for large numbers of refugees arriving this year (and set to arrive next year) and a rise in the number of individual households, it’s clear that there is a desperate need for new residential real estate. The way people work and shop is also changing, and …

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Germany may have Europe’s biggest economy and the EU’s largest population, but as far as the country’s listed real estate sector is concerned things have only recently begun to get really interesting. This week, on 21.09.2015, Vonovia (formerly Deutsche Annington) became the first listed real estate company to be promoted to the blue-chip DAX index. How has the sector reacted? What does this signal for Vonovia’s competitors? Is this the beginning …

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Berlin real estate – a planned economy   Anyone who has ever read any reports on Germany’s property markets will know that the real estate economy in the country is broken down into a number of sub-sectors, both in terms of geography and property types. Given the country’s federal structure, with 16 individual states and city states, there is not a single, dominant property market in the way that …

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As far as housing is concerned, and as mentioned in a previous blog post, Germany can be seen pretty much as a nation of tenants rather than owner-occupiers. In major cities such as Berlin and Munich, between 75-85% of the population currently live in rented apartments, which means that only 15-25% are homeowners—extremely low figures when compared to the situation in other European countries. Similar, but different Why do such …

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Grunderwerbsteuer  is Germany’s tax on the transfer of real property (equivalent to stamp duty in the UK). Whether you are a developer buying land earmarked for construction, a potential owner-occupier considering a condominium or an investor on the market for a property portfolio, all transactions involving land and property will be subject to Grunderwerbsteuer. Read on to find out more about the tax, how it is levied and how to reduce the amount …

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