The legislation in Germany regarding the acquisition of real estate by nonresidents is notably liberal, and it provides a straightforward process for both residential and commercial properties all over the country. Legal entities and individuals are both permitted to purchase real estate in Germany.
It is important to note that ownership of a German property does not automatically grant the owner the right to obtain a local residence permit. Nevertheless, it is possible for the owner of the property to apply for a Schengen multivisa, valid for six months or a year. In addition, owning real estate in Germany may subsequently aid in obtaining a residence permit, as it confirms the financial independence of the owner.
Purchasing real estate in Germany can be advantageous due to the following reasons:
1. The opportunity to rent out the property can result in a stable income, ranging from 3 to 15% per annum, depending on the region and amount invested. Large cities such as Berlin are particularly profitable for this purpose. 2. The prospect of obtaining a German multivisa is another advantage. Ownership of the property can be established through an extract from the German land register.
The Bavarian region, specifically the "Bavarian Forest" resort region, offers the lowest prices for real estate in Germany, with one-room apartments available for as low as 7-8 thousand euros ($8,400 - $9,500). In contrast, real estate prices in major cities such as Berlin, Munich, Cologne, and Stuttgart, among others, start at 35 thousand euros ($41,200).
Germany is known for being one of the most stable regions in Europe and worldwide, with lower-than-average risks and a higher level of capital protection in the long run. Therefore, investing in Germany may be a wise decision for the future. Greatsky Consulting LLC is available to assist in the process of securing a prosperous future.
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