2019 was actually a record year for real estate sales in Berlin. However, the total of €9.4 billion, the sales revenue of 2019, was already surpassed in the first half of 2021. The increase in sales compared to 2020 was 66%, with residential buildings and condominiums in particular being sold. The pandemic has hardly left a mark, which is why prices are continuing to rise steadily. For this reason, it is advisable to study the Berlin real estate market in detail and monitor it at regular intervals if you are looking for a suitable investment property.
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It is not always easy to find the perfect condominium. Berlin is very popular, which is why the housing market seems confusing. Many listings have already been sold elsewhere by the time you find them, which can be frustrating. We have put together the best tips to help you find the ideal apartment for your investment.
Use internet portals to search for suitable properties in Berlin
There are numerous internet portals that work very well in Germany. You have the option of creating an account and setting up personal alerts. This means that you will receive a message as soon as an advertisement is placed that matches your search criteria. You can get a very good overview with the help of portals on the Internet. It is often estate agencies that present properties they manage on popular portals on the Internet. It is therefore well worth browsing the Internet portals in order to become aware of specific estate agencies.
Check newspaper advertisements regularly to find condominiums in Berlin
Even though everyone seems to be on the Internet these days, there are still people who prefer an advertisement in the newspaper. For this reason, it is worth buying the local newspapers at regular intervals and scouring them in search of a smart property. How about placing an ad yourself? It’s not that often that someone places a search ad for a condominium in the newspaper, but that’s exactly why you can gain a unique position with this action – and perhaps attract the attention of a private seller.
Hire a reputable real estate agent
Estate agents have a decisive advantage: they can get their hands on apartments that are impossible to find on the open market. Admittedly, many people still have reservations about estate agents. But for investments in the high price segment, an estate agent offers you additional protection. They are able to expertly value the property, alert you to potential risks and take care of the obscure paperwork involved in buying a home. For this reason, it is highly recommended that you hire a real estate agent to help you find a suitable condominium. Give yourself plenty of time to decide which real estate company in Berlin is right for you. Buying an apartment is a very personal matter, so it is extremely important that you feel you are in good hands with the estate agent.
Would you like to know what the estate agent does for you, what their duties are and what advantages they can bring when buying an investment property? Then be sure to read this post!
Involve acquaintances and friends in your home search
Good contacts can be a decisive factor in the search for a suitable investment property. For this reason, we recommend that you talk to your good friends and acquaintances about buying a property. This is particularly useful if you already live in Berlin and therefore know many people from the German capital.
But even if this is not the case and you live further away, you may well find the perfect property through acquaintances who share your ad on their social media, for example.
Contact property developers directly to find the perfect investment property
Are you looking for a new-build apartment that you want to turn into your own home or use as an investment property? If you have already gained an impression of the housing market in Berlin, then you may have already determined which location you particularly like.
On the Internet, you can quickly find out which new-build projects are currently being built in the desired area or are planned for the near future. Contact the developers directly and find out which condominiums have not yet been sold and what features they have. If you decide on a property in good time, you may even be able to make decisions regarding the fixtures and fittings of your future property. Unfortunately, if the project is already in the final phase, this is usually no longer possible.
Check the dates for foreclosures in Berlin
It may seem a little unusual at first glance, but this is actually a real insider tip. If you are looking for an apartment at a good price that you would like to renovate and rent out afterwards, then you should definitely find out about the current properties for foreclosure auctions in Berlin. The sales prices are often lower than the usual prices on the market, which have risen sharply in Berlin in recent years. Apartments and houses that need renovation or refurbishment work are often auctioned off. These are ideal investment properties for investors.
Conclusion
The search for a suitable condominium can be a lengthy process. Of course, you always hear about lucky finds and people who have found a nice property within a short space of time. At the same time, however, you must bear in mind that the search for a suitable investment property in Berlin is not always easy. Try different strategies and don’t let failures get you down. What is really important is that you do not get involved with properties that do not meet your requirements 100 percent. Analyze the situation on the housing market with a good dose of patience and strike when you have found the perfect apartment for your investment.
