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Old Jun 26th 2017, 3:06 pm   #16
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Default Re: Buying an apartment in Berlin?

German property market is booming, prices are very high, even in Berlin. We just sold an apt. Commission for estate agents varies. Many banks have their own real estate depts. Their fees are 3,7 %. Private agents like Engel & Voelkers charge a lot more. Berlin has a lot of problems with crime, some areas have almost become no-go areas. Unless you can live in the apt. frequently, I would not buy. You need someone to visit on a regular basis or you cannot get insurance. For the cost of maintaining it your son could stay in a serviced flat (wohnen auf zeit) for the periods he wants to visit. This is what we now do not not in Berlin.
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Old Jun 27th 2017, 6:00 am   #17
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Default Re: Buying an apartment in Berlin?

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Originally Posted by Thairetired2016 View Post
German property market is booming, prices are very high, even in Berlin. We just sold an apt. Commission for estate agents varies. Many banks have their own real estate depts. Their fees are 3,7 %. Private agents like Engel & Voelkers charge a lot more. Berlin has a lot of problems with crime, some areas have almost become no-go areas. Unless you can live in the apt. frequently, I would not buy. You need someone to visit on a regular basis or you cannot get insurance. For the cost of maintaining it your son could stay in a serviced flat (wohnen auf zeit) for the periods he wants to visit. This is what we now do not not in Berlin.
Thanks for your comments Thairetired2016. It certainly seems like there are far more cons than pros in buying property in Berlin and my son has decided against the idea, for which I am relieved. Thanks for all your input everyone!
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