Buying property in Germany

289 posts in this topic

BethAnnBitt,

 

Neat.  My brother-in-law bought four small/single room units (33 SM) on Forststr. back in 2000 for about 25k Euros each.  They were like a bank foreclosure.   what a deal!

 

S.

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1 hour ago, BradinBayern said:

So , you think it is a good time to buy now, or are the prices too high?

 

I’ve made my opinion about timing the market clear. I keep a close eye on the real estate market and new offers and I’d be willing to invest in a -by me- judged a good location and attractive place at current prices if I get offered a deal. The net dividends are small but the banks are almost literally offering me money and again, I think very long term.
 

It’s very hard to find something which is not trash though because of the (often professional) competition and stuff like raising children and working. I went to a sighting last year and it was like a pack of dogs to one bone. Don’t have the patience and time needed right now. Stock market is much easier. If the competition goes down though..

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1 hour ago, arunadasi said:

 I hope to buy property in Ireland this year. Prices might go down, they may stay stable, I don't know.

I sold a property in Guyana but I have not got the money yet. I have to sign a power of attorney for someone else to complete the sale

for me in Guyana but I can't because all the notaries are shut.

I don't even know if I will get the money. Maybe the purchaser has gone broke due to CV19. Maybe he will die. I just don't know. I may never see it.

I might hang in limbo for 4 years again, just as I did with the last sale, which couldn't be completed.

The truth is: nobody knows anything, and it's stupid to pretend you do.

Three months ago nobody had an inkling of where we would be today. Everyone was complacent in their plans and their projections and "where I see myself in five years time" nonsense. Fact is, we don't know.

 

 

Don't despair.  There are things you do know.

  • you hope to buy property in Ireland this year.
  • you sold a property in Guyana but have not got the money yet.
  • you have to sign a power of attorney for someone else to complete the sale

"Three months ago nobody had an inkling of where we would be today."  Three seconds ago, the same thing.

 

You are lamenting not knowing the future.  

 

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3 hours ago, mtbiking said:

 

I’ve made my opinion about timing the market clear. I keep a close eye on the real estate market and new offers and I’d be willing to invest in a -by me- judged a good location and attractive place at current prices if I get offered a deal. The net dividends are small but the banks are almost literally offering me money and again, I think very long term.
 

It’s very hard to find something which is not trash though because of the (often professional) competition and stuff like raising children and working. I went to a sighting last year and it was like a pack of dogs to one bone. Don’t have the patience and time needed right now. Stock market is much easier. If the competition goes down though..

Righty-o, so you think the prices are too high and are due to drop.  Kinda what I have been saying, no?

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7 hours ago, BradinBayern said:

Righty-o, so you think the prices are too high and are due to drop.  Kinda what I have been saying, no?

 

No, I think that the prices reflect the market conditions and I realize how scarce good properties in Munich are and how much money, local and international, there is in this city. I last bought in 2017: a property which I’m very happy about. However, it took two years of business cases and creating databases, and easily more than thirty physical visits to get there. I don’t feel the itch to put the work into it at the moment and don’t need to. If there’s a downturn and it becomes easier to get the good stuff I’ll be obviously tempted.
 

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13 hours ago, catjones said:

 

 

You are lamenting not knowing the future.  

 

 

Nobody knows the future; that's what I'm trying to say, albeit badly, it seems.

 

I'm not lamenting. It's simply a statement of fact. An observation. No feelings involved, certainly no "poor me" feelings.

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On 4/7/2020, 11:37:33, RenegadeFurther said:

 

Whether this is good or bad no longer matters.

It will eventually matter. German citizen entoned for their ww2 sins in 1948 and a few years later again when all properties were taxed 50% payable over 10 years.

In 1948 when the 'new' German D mark was introduced the old Reichsmark was exchanged 600 reichsmark for 60 new Dmark, All other reichsmark silenty disappeared into nowhere. I worked for $5 reichsmark a month and one cigarette cost $5 reichsmark on the black market. A pound of butter was 300 Reichsmark.

I was an apprentice at that time, but regular workers were not much better off. If you were lucky and had skills and or connections you could trade. Problem was, it was illegal

and you always had to look out with whom you dealt.

So. We just have to agree on the time this bubble bursts. Not a question of if,but when.

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5 hours ago, gaberlunzi said:

It will eventually matter. German citizen entoned for their ww2 sins in 1948 and a few years later again when all properties were taxed 50% payable over 10 years.

In 1948 when the 'new' German D mark was introduced the old Reichsmark was exchanged 600 reichsmark for 60 new Dmark, All other reichsmark silenty disappeared into nowhere. I worked for $5 reichsmark a month and one cigarette cost $5 reichsmark on the black market. A pound of butter was 300 Reichsmark.

I was an apprentice at that time, but regular workers were not much better off. If you were lucky and had skills and or connections you could trade. Problem was, it was illegal

and you always had to look out with whom you dealt.

So. We just have to agree on the time this bubble bursts. Not a question of if,but when.

Exactly.  Printing money will not get us out of this crisis. 

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Printing excessive money ( just saw us release another 2 trillion yesterday)will eventually lead to hyperinflation. That is good news if you own or planning to buy real estate as your debt payments will become smaller at an accelerated pace. With interest rates at historic lows at  around 1% is no brainer. I enquired this week on new mortgage  loans for some additional  real estate  and all banks appear to be  very keen to take on new business as no one is  coming to them yes maybe a blip in short term however longterm prospects are good imo if select right parameters wisely for buying. If interests rise dramatically then will be put brakes however no government fiscal policy attempt to do that with the amount of on their books.  Think digital crypto will come eventually as world reserve currency as a result of this crisis so another good area to be in imo.

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40 minutes ago, burningtiger said:

Printing excessive money ( just saw us release another 2 trillion yesterday)will eventually lead to hyperinflation. 

I went shopping yesterday.  I buy the same stuff every week.  Normally spend 100euros for the week. Last few weeks I have been paying 150 euros. My shopping has gone up 50%. Yet the CPI figure used to calculate inflation is below 2%. 

 

The cpi figures should not be difficult to manipulate.

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22 minutes ago, RenegadeFurther said:

I went shopping yesterday.  I buy the same stuff every week.  Normally spend 100euros for the week. Last few weeks I have been paying 150 euros. My shopping has gone up 33%. Yet the CPI figure used to calculate inflation is below 2%. 

 

The cpi figures should not be difficult to manipulate.

 

Check your math before you worry about others manipulations.

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1 minute ago, AlexTr said:

 

Check your math before you worry about others manipulations.

Will give you that.

 

Thanks for the correction.

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3 hours ago, burningtiger said:

Printing excessive money ( just saw us release another 2 trillion yesterday)will eventually lead to hyperinflation.

 

When you start with a false premise, you can easily extrapolate into false conclusions:

 

3 hours ago, burningtiger said:

That is good news if you own or planning to buy real estate as your debt payments will become smaller at an accelerated pace.

 

and even crazy predictions:

 

3 hours ago, burningtiger said:

Think digital crypto will come eventually as world reserve currency as a result of this crisis so another good area to be in imo.

 

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3 hours ago, RenegadeFurther said:

I went shopping yesterday.  I buy the same stuff every week.  Normally spend 100euros for the week. Last few weeks I have been paying 150 euros. My shopping has gone up 50%. Yet the CPI figure

 

The biggest threat to your well-being is not the CPI but a monotonous diet.

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7 hours ago, AlexTr said:

Meh, I forgot an apostrophe so we're even.

AND.. AND.. a dash after “ apostrophe “.

But I am the forgiving sort!

🙏🏻👍🏼

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Cryptocurrency is nothing more than a tulip mania. There are 5000+ cryptocurrencies out there now. That defeats the purpose of making it scarce.  Bitcoin is like the first iPhone, and like any technology it gets improved and people move on. What guarantees do you have that people will continue to use it and not move on to the next big thing? btw they first told us bitcoin could be used for microtransactions - that turned out to be false... now  they tell us it is like digital gold..  really? what can you do with a bitcoin?  gold at least has uses beyond just being money.

 

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 agree at moment crypto is crazy place long term will become norm sitting alongside Gold which as you know is finite resource. Who would have thought 100 years ago we would routinely be using use  a piece of plastic with some numbers to make payment often without seeing the person on other side. Unlimited print run will make crypto go main stream like it or not imo.

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1 hour ago, burningtiger said:

at moment crypto is crazy place long term will become norm sitting alongside 

which of the few hundreds?

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