How to get a mortgage in Germany

The rights to a real estate property that are held by the person who owns the property (house, land, apartment etc.) are given to a bank in order to receive other benefits in return. These benefits are usually cash benefits. The mortgage is used in banking as security for loans. The possible amount of the mortgage is determined by the value of the property. Mortgages can be given by banks. In case people need help regarding mortgages there are different branches that can help. Mortgage brokers help people to arrange the mortgage between the borrower and lender and a real estate agent helps buyers and sellers find or sell a property. Getting a mortgage has several advantages such as that the interest rates are generally lower than for other types of borrowing and that a mortgage is easy to repay due to it is repaid little by little on a monthly basis. But a mortgage can also be disadvantageous because the interest rates on mortgages are changing from time to time and can increase suddenly o the borrower has to pay …

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The best places in Bulgaria where you can buy proper

Property in Bulgaria

Bulgaria has shaken off its image as a hardy ex-communist state and has quickly become one of Europe’s more popular holiday destinations. The glittering Black Sea Coast, excellent ski resorts, historic towns and incredible scenery are attracting record numbers of visitors and investors. Property in Varna, property in Albena and property in Burgas – all beach resort towns – offer all of the traditional fun in the sun, but with fewer crowds and often a more attractive setting, as well as great value. The marks of Balkan culture are dotted across Bulgaria’s diverse landscape. Medieval villages, striking churches, ancient ramparts and picturesque castles can all be seen in the hills and valleys. The country’s main cities are fascinating, vibrant and historic. Sofia boasts an array of architecture from Roman, Ottoman, Byzantine, Revival, Turkish and Slav influences, while Plovdiv contains one of the fines Roman amphitheatres in Europe. Head to the mountains and you can find property in Bansko and property in Borovets; Bulgaria’s popular ski resorts which are fast gaining a reputation as some of the best …

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50 Reasons Ireland Should Consider Tall Buildings

Here are 50 reasons why Ireland should consider tall buildings for residential and commercial purposes:

1. Saves Space – In a world with a growing population, developing buildings vertically allows for more space and more people. The land available for buildings is finite, and while tall buildings have a height limit, cities and towns can better utilize this space by building more tall, vertical buildings.  

Source: Wray, Sarah. “’Mini Cities’: The Rise of Tall Buildings.” Smart Cities World, www.smartcitiesworld.net/opinions/opinions/mini-cities-the-rise-of-tall-buildings

2. Creates More Homes – There is a correlation between density of a city with the number and height of tall buildings. High-rises allow for more homes by building vertically rather than building wide or horizontally. 

Source: “The Pros and Cons of the Skyscraper.” RG Group, 17 Apr. 2018, rg-group.co.uk/the-pros-and-cons-of-the-skyscraper/#

3. Creates More Office Space – Tall buildings or skyscrapers are able to satisfy the needs and desires for companies to be in proximity together in dense, urban areas. Building up answers vast company demand for city office space. 

Source: Barr, Jason. “The Economics of Skyscraper Height (Part IV): …

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How to buy properties in Bulgaria

Hello my name is Hristo Dimitrov. I’m a student from Varna Bulgaria. I’m new to Irish Mortgage Brokers.

Today my topic is how to buy properties in Bulgaria

 

-First time buyers

When Bulgarian people are buying a home, they have some problems researching the right home for themselves.

They are also not familiar with how to buy a home. They always have problems and some may come across real estate fraud. So I will show you some helpful tips to follow:

Estimate your budget.

It is important to know how much money you are willing to spend on buying an apartment and navigating the cost of housing in your city.

Don’t do it yourself

Get a mortgage. If your own funds are not sufficient but you have a stable income, get a mortgage. Today, banks issue loans for ten to thirty years.

Get ready – wait for a new building.

Primary housing, that is, apartments in new buildings, are, on average, cheaper than second homes. They also have no legal history. And if the developer sells the property, …

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Demand Outweighs Supply: Significant Interest in 500 New Affordable Houses

The Irish Times reports that the County Council of south Dublin has a plan to build 500 new affordable homes. This is the first time a plan has been put in place to build affordable housing in south Dublin for well over a decade. The houses are planned to cost roughly €300,000. Therefore, for first time buyers, in order to purchase, the home buyers would have to place a down payment of €30,000. However, the home buyers could also benefit from the Help to Buy Scheme. Since the home buyers are purchasing affordable housing that is less than 500,000 euro, the first time buyers could receive a tax rebate of 5% of the 300k if the home buyers take out a mortgage of at least 70% of the home’s price. This €15,000 rebate could be very beneficial to most first time home buyers. In addition, the Irish Times predicted that the affordable homes will be 40% less than market price, a significant savings.  

As reported by the Irish times, the homes will be available in three locations. The first time …

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Entering the World of Investments

Whether you are a new investor or have an established portfolio, investing in any area can be scary and confusing. There are many different ways to invest your money, but how and where you do depends on many factors. The one term that encompasses all these factors is risk tolerance. When investing, you always need to ask yourself “what’s my risk tolerance?”

There are 4 key factors when analyzing your risk tolerance.

1: Your investment time frame

This may be the most broad factor, but it has rung true for most investors. the main logic behind this is the more time you have to invest, the more amount of risk you can afford. Say an investment goes south while you are still relatively young. You have a greater amount of time to make up for this loss compared to a person a little older. However, like I said before, this is a very broad rule and further considerations are needed to decide which investment is right for you.

2: Your Risk Capital

The amount of money you actually have to …

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Property Market in Wuppertal, Germany

About the City:

Wuppertal is a city in North Rhine-Westphalia in the west part of Germany. There’s a population of about 350.000, and the name Wuppertal comes from the river ”Wupper” which flows through the city. Some key characteristics of the town include the suspension railway, ‘’Schwebebahn’’, the university and the Pina Bausch dance theater. The Schwebebahn is one of the defining features in Wuppertal, due to the fact that the train is actually upside-down.

Areas in Wuppertal, Germany

As in all other countries, the market in Wuppertal is divided into rental properties and properties to buy. Wuppertal is also divided into 6 different sectors, which have a strong influence on rental and purchase prices. Barmen, Elberfeld, Vohwinkel, Cronenberg, Ronsdorf and Beyenburg all have different prices for various types of properties. 

Prices for renting and buying

The cheapest area to buy and rent in Wuppertal is Elberfeld and the highest prices are found in Cronenberg. The prices generally start at 6.01 EUR/m² and goes up to 8.36 EUR/m².

For buying a house in Wuppertal, expect to pay 2.442,05 EUR/m² at …

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German Property Market – Rules, Regulations and Taxation

Legal Restrictions

There are no specific legal restrictions on cross-border real estate investments in Germany for foreigners. Normally a valid passport and an adequate capital will be sufficient to purchase property. It should be noted that private investors will not be given residential status merely by acquiring property in Germany, as is the case in some other European countries.

With regard to indirect real estate investments, however, some general rules apply. They are laid down in different laws and are binding for both foreign and domestic investors.

Ownership in Germany

The owner of a property is generally in possession of both the plot of land and any buildings upon it. The rights to ownership and inheritance are guaranteed by law.

If an investor acquires a single flat in a multi-family house, it is a matter of property ownership. However, this property ownership does not entail ownership of the land and building associated with the property. Instead the investors obtain a co-ownership share of the jointly owned property which the flat is a part of. 

According to private law, the owner …

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Dortmund Property Market – areas, prices and average costs

Areas and Districts

The city of Dortmund is divided into twelve distinct districts. All city districts are then subdivided into a total of 62 statistical districts. Some of main, more well known districts include Downtown-West, Downtown-North, Downtown-East, Eving, Scharnhorst, Brackel, Aplerbeck, Hörde, Hombruch, Lütgendortmund, Huckarde and Mengede. 

Price fundamentals

Housing prices in Dortmund depend greatly on a number of factors, not unlike any other city. As any good realtor will tell you, pricing is mainly contingent on location. After that buys and sellers look for things such as year of construction, the condition of the property, living space, date of last modernization, final energy requirement (e.g. quality of insulation), surroundings, neighbourhood, car parking spaces or garages and much more. For this reason the following information may differ.

Development of prices / rents

The Empirica Price Database and others form the basis for the following comments on the property price development in Dortmund:

Depending on location, interior or other criteria from above, the current rent for an apartment in Dortmund are somewhere in between 7 € and 12 € per square …

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Ireland: Dealing With Crisis

In previous articles, I’ve discussed the ever increasing population of unemployed and homeless people in Ireland, as well as the rising housing prices. At times the two may go hand-in-hand. Higher cost of living could lead to homelessness, and so on. Within the last 12 years, the homeless population has tripled and the cost of living in Ireland has risen to 102% higher than the EU average. These two issues have rooted themselves all throughout Ireland, with no signs of being deweeded. While looking at the issues from an outside perspective may leave you believing nothing is happening to solve these circumstances, the government does have some plans in place to combat said issues. 

The Irish Council for Social Housing (ICSH) is one of the largest contributors to the development of various social housing services. One of their main goals is to “deliver housing and combat homelessness”. The ICSH has already proposed their plan and budget for next year. With funding from the Department of Housing, Planning and Local Government, the ICSH has “an overall package of €2.6 billion to …

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