Some advice on Germany needed.

[devoto]

I have a very experienced agent on the look out for investment property in Germany, specifically in Hamburg. He has visited several times and narrowed his search to this city. However, he says that it is very hard to find who is selling property in Hamburg - they don't seem to have estate agents as we have here. The properties are in general held by banks and institutions.

Can anyone give me a name for an auctioneer in Hamburg?

Thanks in advance.

 

[auto320]

Hamburg is way better than Berlin, but Frankfort is even better than Hamburg IMO. The commercial area along the river, known to locals as "Mainhatten" (river Main, geddit!) is about as solid a spot in Europe as you can find for good commercial at the high end.

Good opportunities around this area generally. If you are just generally interested in Germany and not specifically in Hamburg, PM me and I'll give you the number of a guy who has good contacts there. I used to have a good contact in St Pauli area of Hamburg but he is now RIP unfortunately.

 

[phoenix_n]

Hamburg....excellent choice. Not sure what kind of properties you were looking at but I had looked at a couple and they were owned by individuals(blocks of 4). If its residential property, i am sure you are aware of the tenant laws etc.

 

[walsh101]

Just a word of warning on buying property in Germany. You may have no problem renting out your property, however the Germans unlike the Irish have no problem paying rent for their entire lives, so if you plan on selling your property after a few years you may find that you can't find anyone willing to buy.

 

[Persius]

According to www.immobilienscout24.de there are over 3000 properties in Hamburg. Click the "Wohnung kaufen" link in the main box, and then "Hamburg" and then "weiter". Enter some search criteria like number of rooms (this includes sitting room), area, price.
Cheapest offer I found was a one bed 52 square meters for €29,000. Name of the EA on the offer. I can't imagine Hamburg is any different to the rest of Germany. There are surely loads of EAs there, known in the local lingo as "Makler".

 

[dontaskme]

...however the Germans unlike the Irish have no problem paying rent for their entire lives...

and even beyond!

I was surprised to learn that Germans rent their graves. Usual term is 20+ years.

Dont ask me about yields but at least the tenants would be quiet and undemanding.

 

[pat127]

and even beyond!

I was surprised to learn that Germans rent their graves. Usual term is 20+ years.

Dont ask me about yields

Soil rich in nutrients? Actually buying this kind of property is not necessarily a bad idea. I bought a grave in South Dublin some years ago (please don't ask why!). I was disappointed to find out afterwards that I don't actually own the plot but have just bought the use of it. Sticking to the thread however, in the German situation it strikes me that as the graves are re-used every 20 years or so - turned-over as you might say - it might be worth running the numbers. Who knows, it might turn out to be a dead cert.