All property purchases in Germany need to be notarized. Without a notary, no property purchase is legally valid. The notary makes sure that all of the documents related to the property purchase are present, and ensures that the correct entries and deletions are made in the land registry, effectively overseeing the transfer of the property’s title of ownership. If you are not able to attend the appointment with the notary in person, you can authorize a representative to attend on your behalf. This requires a power of attorney, which can be drafted and signed in the presence of a German notary or at a German consulate in your home country.
You don’t need to speak German or even live in Germany to buy property here. In fact, it is entirely possible to buy property in Germany without ever setting foot in the country. In such cases, you need to sign a power of attorney at a German consulate in your country that authorizes a German lawyer to act on your behalf throughout the property purchase process.
Every non-German resident who owns property in Germany enjoys limited tax liability. Income generated in Germany, for example rental income, is subject to taxation, although depreciation (normally 2% of the purchase price per year), interest, and administration costs are tax deductible. There are also tax-free allowances for rental income, which are regularly adjusted by legislators. As each person is in a somewhat unique situation, it always makes sense to consult a tax advisor.
If you have any questions about buying property in Germany or are interested in finding out more about our current property listings, please do not hesitate to contact us. As the leading specialists for international property purchases in the world’s most vibrant metropolises, our multilingual team is ready and waiting to provide you with the information and advice you need in 15 different languages.
Call us on +49 30 88 66 000 or send us an email to email@example.com.