2007-09-07

Great Britain | Investments Prices and Markets Europe

UK Investors Say Buy Buy Berlin With Overseas Property Specialist

Great Britain: Overseas investment property specialist, David Stanley Redfern Ltd. has signed an exclusive deal with a major German bank to offer 75% LTV mortgages in Berlin.

Offering the best level of service and preferential rates to clients, the mortgage solution makes buying abroad easier than ever, says David Redfern. “Our overseas finance service is unique as we are dealing direct with Berlin banks finance of up to 75% of the value of the property. There is no reason why the buying process should take more than six weeks to completion on the mortgage. As the latest edition to our suite of services for investors, our overseas finance department allows buyers to benefit from a transparent, stress free overseas mortgage deal.”

The David Stanley Redfern Ltd. Berlin mortgages are available for purchases over €50,000. A unique property market, Berlin is the second most populated city in Europe yet has low property ownership rates amongst native Berliners.

Property prices in Berlin grew by 1.2% in 2006 with rental yields climbing by an average of 6.2%. Complimented by extremely attractive purchase prices, its no surprise that savvy UK investors have looked to the liberal city for a flavour of the European good life.

“Tax on rental income is high at around 25% but Capital Gains Tax is only applicable on properties that have been owned for less than 10 years,” advises David Redfern. “The capital growth potential by contrast is very favourable, with billions of euros invested in the city by the local government. This re-building process makes property a more attractive option thanks to better infrastructure, more frequent transport links and more cultural draws for the city’s 7 million tourist visitors.”

ClickPress - 2007-09-07