The Frankfurt property market (Germany)

Frankfurt am Main is growing – as a stable business location, internationally important financial centre and European transportation hub. The largest city in Hesse attracts numerous young workers, older financially strong couples, but also foreign customers. For several years now, Frankfurt am Main has been one of the cities in Germany with the highest population growth. Since 2014, the number of inhabitants has risen by 7.1 per cent to almost 760,000. Given their economic importance, mass migration and associated housing demand are unlikely to decline in the foreseeable future.

Frankfurt am Main is also one of the nationwide leaders when it comes to vacancy rates for residential properties. The Main metropolis has a vacancy rate of only 0. 3 per cent, which is ahead of the already low figures in Stuttgart (0. 5 %), Hamburg (0. 5 %) and Berlin (0. 8 %). The continuing excess demand for housing in Frankfurt am Main has led to a steady rise in the average rent in the Main metropolis for years. However, a distinction must be made here between existing …

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German mortgages explained

In the legal sense, a mortgage is the right with which a bank or building society secures a mortgage loan. The mortgage secures a plot of land with or without buildings. It is one of the liens on real property and is regulated in the German Civil Code (Section 1113 BGB).

If the builder fails to meet his obligations under the loan agreement, the bank can apply for foreclosure. It can use the proceeds from this to repay the construction loan. Usually, you can only cover a part of the purchase price of your desired property with your own funds. The greater part is financed by a mortgage. This means a loan from a bank, which is secured by the property. How to get a mortgage in Germany

Let your customer advisor advise you on all aspects of real estate purchase. There are various contact points in Germany for this purpose. Depending on your life situation, it is appropriate to first contact the house bank. Various financing proposals are measured by how good the customer’s liquidity is.

After the financing …

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The economy of Frankfurt

Frankfurt is known as a commercially oriented city that has made trade fairs and congress epicenters home in the most populous city in Hesse.

As Germany’s financial capital, a large number of banks and brokerage houses have their headquarters there. Among them, one counts, for example, the Deutsche Bank, Dresdner Bank, Commerzbank, and even the European Central Bank, which is responsible for the monetary policy of the eurozone and the Deutsche Bundesbank.

Characteristics such as economy, traffic, and trade fairs characterize Frankfurt. With the trading platforms Frankfurter stock exchange and XETRA operated by Deutsche Börse AG, Frankfurt is the second-largest stock market in Europe and handles the lion’s share of German securities trading.

Despite high-income inequality, with a Gini coefficient of 44, this metropolis’ labor productivity advantage translates into an average household income of USD 55,800 (as of 2016). In comparison, the whole country has a Gini coefficient of 34 and an average income per household of USD 51,400. As of 2016, household spending excluding transport and housing was 5% above the national average. In 2016, education expenditure per household …

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Will housing for all work?

Ireland was in housing crisis before the Covid-19 pandemic, but the situation has worsened due to the pandemic. The housing crisis was caused by high unemployment,then because property is sold preferentially to profitable companies and rents have increased more tha 60% since 2010.

Right now, Ireland’s housing system is not meeting the needs of enough people:

There are not enough houses to buy or rent There is not enough social housing The cost of building housing is rising Too many people are homeless Too much vacant housing stock remains unused

Because of that The Government came up with Housing for All plan. Housing for All is the Government’s new plan how to decrease homelessness in Ireland by 2030, and it was published on 2 September 2021. This plan is intended to support homeownership and increase affordability, increase social housing delivery and support social inclusion, increase new housing supply and adress vacancy and efficient use of existing stock. Government believes it can embed environmental, economic and social sustainability in housing system for future generations. The State will invest more than 4 …

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All you Need to Know about a Credit Score in Ireland

 

Having a good knowledge about your credit score and the contents of your credit report is very important since you are able to clearly understand the factors that may impact your score when getting a mortgage to buy a home. With the report, you get an overview of the things you are doing right and the parts you should change so that you can increase your credit score. 

Factors that determine your credit score

Your credit including a mortgage, car loans, store credit cards, and a mortgage affect your credit score. Additionally, the credit that you are using affects your score. In this case too much use of the available credit reduces your credit score. The third factor is late repayment since it stays in the report for a lot of time. Sometimes there can be some error in the credit report but this can be fixed within a day. Therefore, before going to a lender for a mortgage, you need to ensure that the report is up to date. If you discover an error, file a dispute with …

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Enough office space for 30,000 workers to be built in Dublin this year

As the post-Covid return of the economy continues, many office-based workplaces are deciding what to do regarding sending workers back to the office. After more than a year of remote work only, it appears more and more likely that most workplaces will be adopting some sort of hybrid model in the near future, with staff splitting time between working from home and in traditional offices.

While this change had been underway, it has been accelerated by the pandemic. However, this does not mean that there is not a lot of demand for traditional office space from employers. Estate agency Savills reports that enough office space to accommodate 30,000 workers will be constructed in Dublin this year. This equates to 196,000 square meters of space over 33 buildings. This represents a surge in demand for office space when compared with 2020, showing a 35 percent increase on the amount of space that came to market in the nation’s capital last year.

This space is being filled at a rate that is surprising when considering the shift to hybrid or remote work …

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Irish Households’ savings at record levels

Irish households saved more than 4 times the average amount during the first quarter of 2021, according to a recent study by the Central Statistics Office (CSO). The CSO reports that Irish households saved more than €10 billion during the first three months of 2021.

This massive increase in savings was undoubtedly related to Covid-19 and it’s corresponding economic restrictions. Due to businesses being closed because of lockdowns, government unemployment benefits, or some combination of the two, incomes either held steady or increased, while spending was dramatically decreased. The CSO also reported that uncertainty about the pandemic and how long the lockdowns would last may have forced many Irish citizens to build up an increased amount of precautionary savings, in case money became tight in the future.

When looking at the numbers, it is no surprise that savings grew dramatically when compared to the first quarter of 2020. Compared to the first three months of last year, Government subsidies increased by €1.1 billion, and social protection payments rose by an even larger margin of €2.7 billion.

While the Pandemic Unemployment …

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How To Start a Rental Property Business?

 

Real estate is a challenging business, as obstacles can wipe out your profits if you are not careful. When planning to invest or starting a rental property business, selecting the suitable instruments for your rental property requires a lot of time, dedication, hard work, and strategic planning. This is especially true in the rental property management industry because owning a rental property is similar to walking on a road. Anything can happen; for instance, if the wind blows, you must maintain your balance and not fall apart, which will remain your responsibility throughout the journey.

Lessons on howstart a rental property business is similar to learning how to create almost any other company. As an investor, one must identify several vital elements to begin a good start.  These components and the systems and investors’ benchmarks are more successful with a proven plan for rental properties. Moreover, if you want to start a rental property business, there are several valuable lessons to learn from the experience. Meanwhile, here are some of the most critical steps to consider before planning to …

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What are the Best Real Estate Investments in Ireland

 

Introduction

Real estate is one of the oldest assets that has existed for many centuries. Kings, noblemen, kingdoms, and chiefdoms used the land as a form of exchange or compensation during wars and gave the royal families as a sign of reward. Over the years, real estate has become the most profitable business idea for those who can invest heavily in land or real estate and wait for it to appreciate over time. Moreover, factors such as urbanization have made it more beneficial and appealing than investing in the stock market. It is three times more likely than any other business to make money, in my opinion.

Best types of investments

In Ireland, there are many types of real estate investments namely:

Physical property investments

Physical property investment can often yield high returns with these categories and requires more significant initial investment and patience for property to appreciate. The best type of investment are as follows:

Residential real estate.

Building houses where people can live is an excellent investment because of the population growth and rental housing demand …

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Kitchen Design That Will Add Value Your Home

 

When it comes to adding value or selling a house, more often, real estate agents will tell you that the kitchen is a vital component when thinking of sell homes because it increases the home value. For home buyers, both first-time and second home buyers, kitchen designs, upgrades, development, and complete retrofitting are at the top of the list for many customers. The kitchen is essential when it comes to the most valuable home improvements. Because most people want a fitted kitchen without paying a lot of money to buy a house, some believe that kitchen renovations are the most likely to increase the value of your home. Still, one should know that this doesn’t mean that every penny you spend will be repaid. In my opinion, I believe the following kitchen designs can add and increase the value of a residential home. These include: –

Designing a more spacious and modern storage unit. Designing and renovating cabinets and drawers to provide a level of luxury and comfort can be unrivaled. This feature adds an elegant touch of quality, …

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