The real estate consultants at Engel & Völkers provide expert guidance for the purchase of holiday properties. As an international real estate network with over 1,100 locations in 35 countries, our local agents offer extensive knowledge of the residential and vacation markets in nearly every major holiday region.
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A house or villa in a frontline coastal position - the most coveted of locations - is more than just an exceptional home; it is a guaranteed escape from the pace of city life and the daily routine. Furthermore, the opportunity to „share" your property in such a sought-after destination through holiday rentals makes the purchase of such a home a highly profitable real estate investment.
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The real estate commission—also known as the brokerage fee or agent’s fee—is the compensation for the intermediary or proof-of-opportunity services provided by a real estate agent. Anyone looking to buy or sell property will quickly face these core questions: Who pays the agent when selling a house? How high are the fees when buying? And when is the payment due—after the notary appointment or earlier?
In May 2020, the Federal Cabinet finally discussed the reform of estate agent commission - since then, sellers and buyers have shared the costs of the estate agent when buying a property. This law rejects the so-called ordering principle. In particular, the law makes the division of the estate agent's commission between the buyer and seller of a property, which has not been uniformly regulated in Germany to date, fairer. In the following, we explain exactly what changes the reform to commission entails and why it now pays off more than ever to commission a real estate agent.
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Holidays can be effortless when you can pack your bags without worrying about luggage weight. Instead of bringing everything with you for every trip, owning a holiday apartment means most of your essentials are already there. By purchasing a holiday home or apartment, you gain a second home for vacations or weekend getaways. This convenience is a key reason why holiday apartments for sale in Germany are so popular. Many buyers also opt for houses, ranging from cozy bungalows and single-family homes to spacious chalets.
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With its countless leisure activities, picturesque beaches, good accessibility and infrastructure, the German Baltic Sea region is a popular destination for millions of holidaymakers every year. Those who are completely taken by the enthusiasm for the location may think about staying permanently and buying a house on the Baltic Sea.
Holiday homes usually have several functions. On the one hand, they are the ideal holiday domicile for one's own holiday, on the other hand they are also suitable as a Second home or weekend home. Holiday homes for sale are often sought in order to rent them out in the best holiday regions with a return on investment. So you can buy holiday homes as an investment and cover any mortgages from the rental income, at least proportionally.
You just want to leave work and everyday stress behind from time to time and have been travelling to the same holiday destination over and over again for years? Then it's time to invest in your own local property. A Second home abroad guarantees a relaxing holiday feeling and allows you to get to know new facets of your favourite region. Thanks to the increasing demand for properties in the first line of the sea, a second home not only serves as a comfortable holiday domicile in the preferred holiday destination, but often also generates attractive returns.
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After years of low interest rate policy, virtually nationwide rising property prices and excess demand, the property market in Germany is experiencing a number of clear counter-trends for the first time. The European Central Bank has raised the key interest rate to 0.5% in July 2022 - in the practice of real estate financing, interest rate increases of around 180% have been recorded compared to the previous year. The associated effects are already being felt in the industry and are affecting the behaviour of owners and prospective buyers in various ways. In this article, real estate agent Engel & Völkers would like to provide you with an overview of the current situation and clarify which maxims you can use to make the right decisions even after the interest rate turnaround on the real estate market.
Contact
Engel & Völkers Germany
Vancouverstraße 2a
20457 Hamburg, Germany
Tel: +49 40 361310