Ref: 000R0694
Net Yield*:
6.25% (yearly additional costs as well as 2,000 Euro for renovation works are considered)
District: Charlottenburg-Wilmersdorf
Location: Charlottenburg
Be the envy of all your friends and own a property in one of the most exclusive districts of Berlin, in Charlottenburg ... plus the following highlight: From your balcony you can enjoy views on the famous and perhaps best known landmark Schloss Charlottenburg, an elegant palace commissioned in 1695 by Queen Sophie Charlotte. Further on the well-known shopping road Kurfürstendamm (Town Centre West), Lake “Lietzensee” as well as trendy places like “Stuttgarter Platz” and “Savigny Platz” are close by as well. This studio offers many possibilities… rent it out permanently or to holiday makers or use it for yourself. It includes a living room, open kitchen area and a good-sized bathroom. The public transportation connections are excellent.
Specifications:
Apartment is in standard condition; it needs some renovation works (approx. 2,000 Euro) – new flooring (excluding the bath) and paintwork. Partner companies could arrange these works for you.
Light flooded living area
Big balcony with stunning views on Castle Charlottenburg
Open kitchen area (not furnished – only stove top and sink) and a good sized bathroom
Central heating
Parking space
Building is in good condition – paintwork of the windows (from outside) as well as renovation of the balcony to this flat has been agreed in the last owners meeting and will be done this year. House community bear the costs (sinking fund).
Very good location in Charlottenburg – only 2.7km to the well-known shopping road Kurfürstendamm. Lake “Lietzensee”, trendy places like “Stuttgarter Platz” and “Savigny Platz”, Tiergarten as well as the Technical University are close by as well.
Payment:
100% after signing of the notarial purchase contract.
Charlottenburg:
Charlottenburg is situated north of the famous Kurfürstendamm (Town Centre West), one of Berlin's major shopping areas that developed in the West during the years that Berlin was divided. Charlottenburg is together with Zehlendorf the wealthiest part of Berlin as well as the most popular residential location. The region has a number of famous landmarks, perhaps the best known being Schloss Charlottenburg, an elegant palace commissioned in 1695 by Queen Sophie Charlotte.
Trendy places:
Savigny Platz
Olivaer Platz
Stuttgarter Platz
Further on the internationally renowned Berlin Institute of Technology is located in Charlottenburg.
Berlin:
The capital of Germany is dynamic, cosmopolitan and creative, allowing for every kind of lifestyle. East meets West in the metropolis at the heart of a changing Europe.
After experiencing a staggering drop in housing prices since the early 90s, Berlin’s property market is springing back to life. No other property market in Europe offers such undervalued property prices and a solid rental market.
Rental Potential:
The trend goes to properties which are situated in medium/good locations near the town centre.
Berlin: 88% of the habitants are renting properties - 12% are property owners.
Germany has a strong rental culture and tenants tend to live in a property for many years. Therefore, they treat rented property as if it was their own, and this works to the advantages of the owner. Property is let without furniture so tenants must provide their own. This situation might seem a good prospect for investors looking for regular income while they wait for their property to appreciate.
Studio – Third Floor - Apartment Specification
Rooms (Living Room/ Bedroom): 1
Living Size (approx.): 30m²
Year of Construction: 1966
Availability/ Move-in: Immediately
Yearly additional costs for landlords: approx. 496 € per year (no allocatable overheads)
Allocatable overheads like yearly building insurance, housekeeping etc. are going on top of the basic rent and has to be paid by the tenants: approx. 992 € per year
Expected basic rent: 2,520 € per year (7.00 € per m²) plus 600 € per year for the parking space
Net Yield*:
6.25% (yearly additional costs as well as 2,000 Euro for renovation works are considered)
*Please note: Price negotiations as well as higher rents are not considered.
From 42,000 € (incl. parking space)
