In Germany, you can even settle in an ancient castle
Built in 1626 in the late Renaissance style, the castle is located 40 km south of Munich, near Lake Starnberger. The apartments ready for occupancy cover an area of about 250-280 square meters. The package also includes several garages, since the clientele targeted by such an offer is not limited to owning just one car.
Alongside princesses from Saudi Arabia and Russian vodka magnates, wealthy people from Bavaria itself and Switzerland are showing interest in the deal. Renting such an apartment will cost “only” 3,500 euros per month, not including utility bills.
The market for luxury real estate in Germany continues to thrive. In the same 40 km north of Munich, a small lake with an island equipped with a sauna, two bungalows, a meadow (for example, for beloved horses), and a former bunker converted into a wine cellar are offered for sale. A plot of 42,000 square meters of land and 400 square meters of living space will cost the buyer 1.5 million euros.
Over the past year, 230,000 permits for apartment construction were issued in Germany, but this is clearly insufficient. According to a study conducted by the largest mortgage bank LBS, the annual need for new apartments will be 300,000 over the next ten years. This is good news for owners and real estate agencies, but for tenants – primarily those from low-income segments of the population – the situation is bleak. Those wishing to buy an apartment in Germany should hurry, as prices have been steadily rising year after year.
Especially when considering the fact that new housing largely belongs to the premium segment of the market. For example, in apartments built recently by the GdW-Unternehmen group, only one in five is expected to charge rent of about 5.7 euros per square meter, while in the vast majority of cases it is no less than 8 euros. In more expensive apartments, however, the thermal insulation is better, which, given the high energy prices in Germany, is certainly taken into account by potential buyers or tenants.
Real estate agency in Germany
Lafery Real Estate.