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The Engel & Völkers real estate lexicon
Engel & Völkers technical terms of the real estate world
Seller
Broker commission: Reform 2020
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.
- 6 min read
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When do you need the consent of the community of owners for a change of use?
If a property is divided into condominiums according to the provisions of the Condominium Act (Wohnungseigentumsgesetz, WEG), the following applies: In most cases, the consent of the community of owners must be obtained for the change of use. When this is the case, i.e. whether the change of use requires (internal) consent, can be assessed on the basis of the so-called declaration of division.
The Fundamentals of Community Ownership
Community ownership forms the foundation for harmonious and regulated coexistence in multi-family houses or residential complexes. It comprises all flat owners and plays a crucial role in the management and maintenance of the communal property. But what legal principles apply to community ownership, and how is decision-making organised? In this article, we shed light on the most important aspects and demonstrate the responsibilities undertaken by property managers and the advisory board, as well as the potential advantages and disadvantages of community ownership.
- 4 min read
- 26.09.2024
Dingelsdorf property: Fantastic houses and flats on Lake Constance
To the north of Constance, the district of Dingelsdorf is picturesquely situated on a slight hillside and meanders along the shores of Lake Überlingen. Here you will find marvellous Constance condominiums with lake views. Or would you like to buy a house in Constance for the whole family at attractive prices? In the quiet residential area of the town with its approx. 2200 inhabitants, you can enjoy the relaxed atmosphere of the green region on Lake Constance between Dettlingen and Litzelstetten. Relax in your leisure time at the lidos or in the Dingelsdorfer Ried nature reserve. The ferry takes you to Überlingen on the other side of the lake in ten minutes. You can reach Allensbach and the B 33, on which you can cross the whole of Baden-Württemberg, just as quickly by car. Even Constance's old town is only around a quarter of an hour away. By the way, with Engel & Völkers you will also find Properties in the district of Constance as well as in other districts and towns.
Zurich real estate prices: Stable market, high demand
Zurich real estate prices continued to show a stable upward trend in 2024. As an economically important metropolis, Switzerland's largest city experiences enormous popularity, even beyond national borders. From urban flair with diverse cultural offerings and entertainment options to magnificent landscapes for recreation, the city and its surrounding canton offer something for every taste. Where does Zurich show its most beautiful side, and how are real estate prices developing? Our Market Insights Zurich provide you with insights into developments and trends!
- 5 min read
- 16.12.2024
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Acting correctly as real estate buyers and sellers in times of the interest rate turnaround
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.
How to add value to your home with outdoor landscaping
When examining adding value to property, typical advice often focuses on kitchen renovations and loft conversions. While these interior-led techniques can certainly be effective, don’t neglect the importance of a home’s outdoor spaces. In sunny regions, a spacious terrace is an essential selling point. Here’s a closer look at how to add value to your home with outdoor spaces.
- 4 min read
- 01.02.2019
What does a real estate agent do?
The broker’s fee is one of the biggest cost factors arising from property sales for owners and buyers. But what does a real estate agent do for the brokers fee you pay and why does it pay off?
- 7 min read
Sustainability & ESG in real estate: What is behind the trend?
The awareness surrounding environmentally friendly construction and social responsibility in the real estate sector is growing steadily. Sustainability is playing an increasingly vital role in property markets, heavily influencing private owners, investors, developers, and real estate brokerages alike. The driving factors behind this shift are clear: rising energy costs, statutory climate protection goals, and evolving expectations from buyers, tenants, and investors. Consequently, the industry is increasingly aligning itself with ESG criteria (Environmental, Social, and Governance) to ensure properties are eco-friendly, socially responsible, and economically resilient.
- 5 min read
- 13.05.2026
Contact
Contact your personal advisor
Engel & Völkers Germany
Vancouverstraße 2a
20457 Hamburg, Germany
Tel: +49 40 361310