Science Horizons

To citizens of other countries, the fact that Germany places no restrictions on foreign ownership of real estate within the country is of paramount importance. This means that people from other countries can purchase whatever real estate in Germany they want, no matter how big or small, where it is located or what type of property it is. Actually, Germany boasts a very diverse population, with many British, American, Greek, Spanish and Italian expatriates, and there is very little doubt that many of them own property in Germany.

Prices Vary

Just like any other country, real estate prices in Germany will vary with the location and type of property. Generally speaking, property in the former West Germany will cost more than real estate that is located in the former East Germany.

The prices of terrace homes in Germany start at about $115,000, while the cost of detached homes range between $200,000 to $875,000 and up. City apartments are extremely popular in this country, but they sell for a premium and their price may be well over $400,000, especially when they are located in Munich.

Real Estate Locations

More than half of Germany’s population lives in rented apartments, making apartment living extremely popular in Germany. Housing shortages in German cities and suburbs make apartments located there even more popular.

At least three-quarters of all houses in Germany are relatively new, constructed following World War II. It remains possible, however, to find many beautiful traditional and older homes in rural Germany. People searching for homes that offer a rural lifestyle often look for real estate in the Rhine and Mosel valleys. Much of the property in the former East Germany must be renovated and modernized due to being somewhat run down.

Cost of Living

Germany’s cost of living is somewhat higher than several other European Union countries, but it is about the same as the cost of living in the United Kingdom or France. The country has low rates of inflation, and the overall standard of living in Germany is very high.

The Real Estate Purchase Process

Buying a piece of real estate in Germany will require the services of an attorney or notary in order to complete the legal work and check for any liabilities that may be recorded against the property. After the purchase is completed the title to the property transfers to the new owner, and the deed to the property will be registered at the local land registry office. You should anticipate paying fees totaling around six to seven percent of the real estate’s purchase price. The fees include the buyer’s portion of the real estate agent’s commission, the real estate transfer tax and the notary’s charge.

Taxes

In Germany, property tax is paid so that local services can be provided. This tax is a small percentage of the real estate’s assessed value, which typically is lower than its current market value. A wealth tax of about 0.5% of the property’s value is paid by non-residents who own real estate in Germany. If a property is sold within ten years of being purchased, the capital gains on the sale are taxed at the normal income tax rates.

Loans

Banks in Germany normally will lend up to 70 percent of a property’s value so you should expect that a down payment of at least 30 percent will be required. Mortgages with fixed interest rates typically have terms of up to 30 years.

Samples of international real estate clips from John Harvey: Straubing Immobilien and Straubing Immobilien Niederbayern

John Harvey Real Estate Finance, international real estate, investment, real estate

There are many baby boomers the world over that are trying to figure out their retirement plans. Choosing an affordable tropical retirement destination is actually a reality for many soon to be retirees. Nicaragua should be on your list of possibilities, as the benefits are far to numerous to ignore.

The cost of living in Nicaragua is probably one of the biggest benefits for many of the current ex pat residents. Food costs are extremely low compared to typical first world markets. Seasonal produce, fruits and vegetables, dairy, poultry and beef can all be obtained from local markets, as well as well stocked modern grocery stores. Basic food costs are typically a half to a third of the price in the US.

Every part of Nicaragua has something different to offer a retired couple looking for authentic Central American culture. Everywhere in Nicaragua you will find the same slowed down pace of life. You will have time to enjoy a beautiful ocean sunset, wander through Colonial towns, go for a walk on the beach, enjoy a book in a hammock, or visit with locals and other expatriats.

Planning for the weather becomes much less of an issue when you live in Central America. The weather is warm all year round, and there are just two distinct seasons – the warm dry season, and the warm wet season. The other notable weather pattern are the almost year round offshore winds, which help to keep the heat in the dryer hotter coastal towns at bay. If you prefer a more temperate climate, you may want to consider the central and northern mountains, where the cooler wetter climate at altitude creates the perfect environment for world class coffee farms.

It has only been quite recently that the already value priced Nicaragua became even more attractive, as world economic conditions led to a slow down in almost every real estate market. Nicaragua had recently enjoyed a mini real estate boom, but still managed to remain relatively inexpensive compared to other Central American investment and retirement locations. Now with the economic slowdown, a number of previously unavailable opportunities are presenting themselves. For example, a North American style vacation home with ocean views can be found for under $200,000, whereas the equivalent property may sell for two to three times that amount in Costa Rica.

You owe it to yourself to consider Nicaragua as a viable retirement destination. The land of lakes and volcanoes is sure to capture your heart. You will be able to enjoy a retirement lifestyle that exceeds dreams for less money than you would think. Do some research into Nicaragua real estate and see for yourself.

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