Legal Position of foreigners owning property in Germany

Posted by admin | Germany | Thursday 29 October 2009 10:10 pm

Germany a late entrant in the real estate business is destined for higher plateaux. Though the country is considered as much more technologically advanced than most of its European counterparts, it is the housing segment that requires cosmetic work to bring it back to the forefront of the world’s property stage.

The German government has not imposed harsher limits on the foreign ownership of property in the country. Non-Germans can also buy, own and sell an unrestricted quantity of land and homes. They can also hold property as landlords, and even develop property after satisfying certain simple rules and regulations. Buyers from EU countries have an added advantage of access to residency and labour rights as set out in EU law. The Non-EU investors must consult the local embassy regarding their rights in Germany.

A legal professional is required to carry out all the paper work for the real estate investors. This is because most of the administrative work requires to be executed in German, and despite your best knowledge of the language, you’ll be ill at ease while handling the local authorities.

The Banks are also offering low interest rates on mortgages. Most banks will lend up to 70 per cent of the purchase price, though you will have to fulfill certain conditions. The maximum mortgage terms are 30 years on a rate of fixed interest.

Any property purchase in Germany is susceptible to Property Tax as per different rules of the different regions. However, the rates are not too prohibitive. Even the rental income is chargeable under Income Tax. It’s better that you hire a local solicitor to guide you through the possible tax minefield.

In addition to offering property for sale in different locations in Germany we also have at your disposal a list of other useful tools to help in your decision making when considering buying a property in Germany :

- Buyers Guide – A useful article on the buying process when buying a property in Germany

- Country Guide – A detailed guide to Germany including information on health, economy, business, travel, things to do, excursions and much more

- Locations – A current list of locations that have property for sale in Germany

- Airports – A guide to the main airports in the country, where they are and how to get there

- Attractions – A list of popular tourist attractions

- Estate Agents- a directory of estate agents and a list of real estate agents selling property

- News Articles – A useful resource for learning about the country, what’s happening and useful information

- Shopping – A directory of useful resources to assist in your purchase or travel including; Flights, Accommodations, Car Hire, Mortgages, Holidays, Lawyers and much more.

- Useful Resources – a list of useful resources that you might find of general use.

Investing Real Estate In Dubai

Posted by admin | Dubai | Tuesday 22 September 2009 10:55 pm

The Dubai real estate market has experienced tremendous growth over recent years, and this is all the more notable considering that the traditional real estate fundamentals are not what this particular market operates on. Many people are therefore wondering about the explanation for the bust that the Dubai real estate market is set for. Population growth may be a sound explanation, considering that Dubai’s population is about three or four times bigger than that of other developing countries all over the world.

Many investors are attracted by the opportunities that the Dubai real estate market provides. Shortstay renting is probably the most profitable way of producing money from Dubai real estate, because the rather high average rates that Dubai hotels charge per night have determined tourists to start looking for other options, such as a Dubai apartment or villa. Probably the best thing about the Dubai real estate market is that there is no tax on property transactions. In fact only the ones subjected to taxes are the oil industry, the banking sector, and the cigarette manufacturers. Under these circumstances, it’s only understandable why many investors want to have their own share of Dubai property.

Being the owner of Dubai property comes with a series of advantages, such as being able to apply for residency. Furthermore, foreigners who want to purchase Dubai property are not required to have a bank account in this emirate. The transaction itself is far from being complicated, but you should definitely consider seeking legal counsel before the transaction, and legal representation during it, given the vague nature of Dubai property transactions.

All in all, long-term profit form the Dubai real estate market is possible, but it comes with certain conditions. Although this market is hardly similar to traditional and more conventional real estate markets, there is one aspect that is true for all real estate markets alike, including the Dubai one: profit from property purchase requires thorough research prior to the actual investment. Those interested in purchasing Dubai property will definitely benefit from using the information available online about the Dubai real estate market.

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