German Property

T

therave

Registered User
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Hi all,
this has probably been asked before but...
i have been told that because the German's like to rent their homes rather than buy, that there is a good opportunity to buy and let at cheapish prices in the bigger cities.
Any comment's are welcome.

Also i heard of a property syndicate in west Cork that are investing in Germany on a big scale,again any info or thoughts are welcome
 
therave said:
Hi all,
this has probably been asked before but...
i have been told that because the German's like to rent their homes rather than buy, that there is a good opportunity to buy and let at cheapish prices in the bigger cities.
Click to expand...
If that's your main or sole basis for considering German property as an investment then I would urge you to seek independent, professional advice. There are other countries with lower rates of home ownership that Germany. Why would the rate of home ownership make buying property cheaper? If so then surely more Germans would get into property ownership or investment thus driving the price back up due to increased demand? You can't say that you would rent "cheapish" without crunching the numbers to assess the returns/yields and the viability of such a venture.
Also i heard of a property syndicate in west Cork that are investing in Germany on a big scale,again any info or thoughts are welcome
Click to expand...
Nothing to do with this I hope.
 
  • You will be liable to tax on the profit on foreign rental income in Ireland and you may also be liable to tax on German property.
    [*]When you sell the property you will be liable to CGT in Ireland and may be liable to similar tax in Germany.
    [*]You may have to do two computations in relation to your tax affairs. One for the Irish Authorities the other for German authorities. Remember it is up to you to make the necessary returns.
    [*]Any advise you get, get in writing. Ask them what qualification they have to give this advise. Are they tax expert in this area etc.
    [*]Ask about Inheritance rights. Can you leave the property to whoever you like. What taxes are payable?
    [*]If germans like to rent rather than buy you may have problems selling it.
Also see here and here. I'm sure there are many more Do a search on AAM.
 
thanks all for the info.
i am currently carrying out my research and talking to a few people who can advise me and also a few who have gone before and done this.
the west Cork syndicate is not related to the pyramids,thankfully.
 
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