Q: What additional costs do I need to consider when purchasing an apartment?
A: When buying a property, there will be some additional, one-off costs to be paid in addition to the purchase price of the property. They are calculated as a percentage of the purchase price and consist of three items:
- Notary and land register costs: approx. 2%
- Commission: between 5.95% and 7.14%, if applicable*
- Real estate transfer tax: varies between cities/states (Berlin - 6%; Leipzig - 3.5%)
In total, the additional purchase costs amount to approx. 14% of the purchase price and must usually be paid 2-8 weeks after the purchase.
*Many of the rented apartments we offer as investment properties are commission-free, saving you up to around 6%. However, the vacant apartments are offered at the usual rate of commission.