Released on = August 23, 2007, 11:26 am

Press Release Author = Jimwatson

Industry = Real Estate

Press Release Summary = Following on from reports this week the that the German
market still holds promise for the overseas buy-to-let investor, a property analyst
has issued advice on what it takes to acquire a piece of real estate in the country.
Prospective investors will be pleased to know that the conclusion reached was that
buying a property in Germany is \"straightforward and easy\" for foreign nationals.

Press Release Body = Following on from reports this week the that the German market
still holds promise for the overseas buy-to-let investor, a property analyst has
issued advice on what it takes to acquire a piece of real estate in the country.
Prospective investors will be pleased to know that the conclusion reached was that
buying a property in Germany is \"straightforward and easy\" for foreign nationals.

Anna Grybel, a property market researcher with Property Secrets, says that there are
no restrictions in place on foreign nationals buying in Germany. She said most
buyers use an agent, who will make an offer in the prospective buyer\'s name. Once
the offer is accepted the lawyers will draw up a contract and money is only
transferred after title of the property is registered in the buyer\'s name.

All taxes associated with the sale must be paid within 28 days of the contract being
signed, while the whole transaction itself takes an average of 40 days, according to
Ms Grybel. The agent will typically charge around three to six per cent of the sale
price, plus a further nine per cent VAT.

Other taxes include the real estate transfer tax - which is 3.5 per cent nationwide
and 4.5 per cent in Berlin - and the notary fee, which is usually between 0.6 and
1.5 per cent. Finally, the registration fee can be 0.2 - 0.5 per cent.

Perhaps the trickiest aspect for the potential investor in German property is to
acquire a mortgage from a German bank. They are notoriously conservative and the
borrower will have to show that they have a steady income with which they can back
their repayments.

\"Good candidates would include, for example, a couple with good, regular gross
salaries or even better . a public sector employee who enjoys good employment
conditions and high job security,\" explains Ms Grybel.

However, once the buyer has satisfied the bank that they are a suitable candidate
for a loan, they can take advantage of some favourable terms. Long-term financing
with a fixed interest rate for five to ten years is \"characteristic of German
mortgage lending\".

This is because \"it gives financial planning certainty\", which is highly valued by
borrowers. They can usually borrow up to 90 per cent loan to value and the interest
rates, despite rising, are still relatively low at approximately five to 5.5 per
cent at the time of writing.



Web Site = http://investors.assetz.co.uk/

Contact Details = Assetz House, Newby Road, Stockport, Cheshire, SK7 5DA,
0161-456-4000, linkexchangeseo@gmail.com