Berlin, the capital of Germany’s has an attractive real estate market as well as renowned amongst local and international home seekers. It provides the occupants along with unrivaled access to international environments and excellent opportunities for expats looking into buying an apartment. Properties are kept in the highest standards with an affordable lifestyle that makes Berlin one of the best cities in Germany to invest in. however, if you are looking to buy an apartment in Berlin, real estate agency First Citiz Berlin is here for you.
Significant benefits to buy an apartment in Berlin
One of the significant advantages of purchasing an apartment in Berlin is its prosperous real estate market. Some other advantages include:
- There is a great opportunity to live in a dynamic and international city
- Many expat-friendly neighborhoods to start new journey.
- A thriving economy with numerous opportunities for finding a job
- Attractive and affordable listings of apartments for sale in Berlin
People who are currently renting, it’s the best idea to consider buying an apartment in Berlin. You can easily do it by substituting monthly rent payments for a monthly mortgage installment. It means that instead of having a temporary property, with the same money, you can invest it in an asset, that eventually be paid off and you gain ownership.
The Process of Buying an Apartment in Berlin
The first step starts with the selection of an apartment that will be followed by the acquisition process. In Berlin, the process takes up to three months. Moreover, while dealing with leased properties, the tenant is granted a pre-emption right for sixty days, meaning that the process may last even longer.
Reserving the Property
In order to reserve a property while buying an apartment in Berlin, there is a great need to make a deposit equivalent to 1% of the asking price. However, the deposit will be refunded once you have acquired the flat as well as it can be deducted against the buying price.
Purchasing and Signing
After reserving an apartment, as a buyer, there is a significant need to order a draft of the sale agreement. If you are going for a mortgage, start the application. You will also need to organize meetings that you can attend personally or hire an English-speaking real estate agents in Berlin.
During the signing ceremony, the notary is required to go through the sale contract word by word. It will involve confirming that both parties present understand the details as well as what is required of them.
Transfer of Ownership
Once the signature with sale agreement is completed, the office of the notary transfer of ownership process the entire process takes between six to eight weeks with several registries and authorities.
Once the process is completed, you will receive a notification when the seller receives final payment. However, the process of buying an apartment in Berlin takes up to three months.
There is a great need to keep an eye out on the contract because the contract stands as a written legal agreement in order to clarify the exchange of both seller and buyer.