Hello,
Hi, has anyone here invested in Germany or other European countries?
What was it like and were you happy with the purchase?
Personally, not investing in Australia any more if I can help it.
Thanks
Angel
Hi Angel,
May I ask why you are not investing in Australia anymore? Have you had some bad experiences here? Or is it just that you think properties here are much more overvalued than in other countries?
And why you are thinking of European countries, as opposed to Asian countries, or Western Countries like the US?
Personally I don't know much about the European property market, and would prefer to invest in a country where I understand the language and have contacts there
Kong
Hi Kong,
The problems are multi-faceted.
Too expensive to get in, too expensive to buy, too expensive to hold, and too expensive to get rid of.
I find that it’s getting harder and harder to make money.
I’m looking for return and capital growth. Australian properties are getting too cumbersome to carry in the portfolio. This makes me very sad because tenants will have to pay more and more in rent due to rental shortage.
But at this stage, I’ve really had enough.
Take care,
Angel
Hi Angel
I haven’t had any experience in purchasing property in Germany.
My understanding is that the majority rent, whist a few own. It could be contributed to high prices coupled with a “different” attitude towards property ownership compared to that of most Australians.
I’d be interested to know about growth figures, etc. Let us know how you get on.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi Jamie,
this is all a little bit of an experiment. Very early days but I will surely report back when I know more.
Angeli
HI, Angel
I just sold a house in Australia and thinking to invest in Europe. First stop is Belgium, the reason is that I am currently living here.
Here is an apartment I looked at last week,which locates in a good area called “Woluve-Saint-Lambert’, 199k Euro for a 3 bedroom apartment, rental is about 750-900 per month. Return is around 4-5%.
I don’t know too much about Germany, any reason you wanna invest in there?
Ally
Hi Angel,
Sprechen sie deutsch?
Fortunately there are no restrictions on foreigners owning property in Germany. Anyone with a valid passport from any country can own property. However that does not grant you residency rights of any kind.
All I know re investing in residenial is hearsay that tenants rights are MUCH stronger in Germany compared to Australian/UK system. In some cases landlords bribe their tenants to leave, otherwise they'll never get vacant possession of their property back. But as I say, that's just hearsay – no direct experience.
Swampy30
Must be tough going. It’s hard to believe that there’s a more tenant friendly system than Oz.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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