Buy a flat

In Europe, it is not common to buy real estate. Up to 60% of Europeans do not own their own flat. However, if you would like explore purchasing a flat instead of renting, the best way is use a real estate agency to assist with execution of the necessary documents. Fees for this are approximately 10% of the flat’s purchase price.


Below is a rough calculation of how credit for residential purposes is calculated. Several additional factors are often considered, including current bank/economic conditions, your income, ability to make a down payment (equity), your overall creditworthiness, etc.. Each bank has its own calculation and assessment procedures. You are required to present documentation of at least three months salaried earnings as well as current bank account information.

With a minimum 30% down-payment (equity), a loan for up to 70% of the purchase price can be granted. A loan period of 20–30 years, with an interest rate of 1.75–2.5% annually, is standard. You can hire a licensed real estate financing consultant to help you shop for loans and provide ongoing advice during the process. Most, if not all, transactions will be conducted in German, so this can be a major benefit if you are in the market to buy.