2023-04-03 | Best value apartment and most expensive apartment we´ve sold
Our first quarter 2023
The real estate market was also dynamic at the beginning of 2023 and required our years of experience and extensive expertise. Our brokers were able to successfully close many real estate transactions thanks to their know-how, their good knowledge of local laws and regulations, and our good real estate network.
Best value apartment we´ve sold.
The cheapest apartment we were able to sell was a bright 1-room condominium in the center of Leipzig with balcony and underground parking space for 145,000.00 euros.
Buying a 1-room apartment is very popular. For many singles and young couples, a 1-room apartment is a practical and cost-effective option, as it is often cheaper than a larger apartment. However, there is also the possibility of using a small apartment as a second home.
It can be observed that there is an increasing demand for student housing, especially in university cities - such as Leipzig. This means that such an apartment can be a potentially profitable investment. If you are interested in investing in a small apartment, then it could be well worth it. Renting to students can provide a long-term income, especially if the apartment is in a desirable location and is well maintained. A small apartment is also a good investment because it can often provide a higher return than larger apartments due to the increasing demand for smaller and less expensive apartments in urban areas.
Another option is to offer a small apartment as Airbnb accommodation, generating additional income and making an investment even more profitable. However, it is important to ensure that all legal requirements and regulations for renting out an apartment are met and that all rental terms are clearly communicated.
If a small apartment is to be used as an investment, all applicable costs (such as taxes, repairs, maintenance, etc.) should also be taken into account to ensure that a realistic return on the investment is achieved.
Most expensive apartment we´ve sold.
The most expensive apartment was a beautifully renovated penthouse apartment in a well-kept old building in Berlin-Friedrichshain for 1,150,000.00 euros. This 3-room penthouse apartment had an open floor plan, large windows, and a light-filled living and dining area with a free-standing fireplace and access to the approx. 15m² roof terrace.
In Berlin, a city with limited living space, the demand for penthouses is particularly high due to their size and potential to create additional living space. However, penthouses are often more expensive than apartments on lower floors because they often come with special architectural features and better views.
There are several reasons why penthouses are so popular:
- Spacious living space: penthouses often have a generous floor area, providing plenty of space for living and relaxing. In addition, many penthouses have high ceilings that make the space seem even larger and airier.
- Great views: since penthouses are usually the top floors of buildings, they often offer stunning views of the city and its surroundings.
- Quieter location: since top floor apartments are often above other apartments, they can usually be quieter and more private than apartments on lower floors.
- More natural light: Attic apartments often have larger windows that let in more natural light, which can contribute to a brighter and more pleasant living atmosphere.
It's also worth noting that attic apartments often have no air conditioning or limited air conditioning, which can cause problems when temperatures are high in the summer. If you're considering an attic apartment, be sure to research the specific pros and cons and make sure you do a thorough inspection before deciding to buy.
Our review of the first quarter of 2023
We were able to sell a total of 23 properties in the first quarter of 2023.
Inquiries are up significantly just compared to the end of 2022. People who are now buying are compromising on size or location. Prices have also fallen less than at the end of 2022. Properties in the luxury segment are doing particularly well. There is stable demand here and people are even buying more luxury apartments than in 2022. Prices tend to be stable here, provided they have been realistically valued and the location is right.
Due to the high inflation, capital investors are now also increasingly coming back to invest their money in tangible assets. Even if the rental yields are below the interest costs, provided that the monthly difference is manageable and there is a realistic chance of rent increases.
The second quarter also looks stable.
We are very excited to see how the new energy-saving apartments and passive houses will be received by customers.
Passive House: A passive house is a building that requires very little energy for heating and cooling due to its high energy efficiency. This is achieved through a combination of energy-efficient building materials, strong thermal insulation, an airtight building envelope, a controlled ventilation system with heat recovery, and optimized orientation and placement of windows and doors. As a result, heat remains in the building and is not unnecessarily released to the outside, while at the same time ensuring an adequate supply of fresh air.
The goal of a Passive House is to reduce energy demand for heating and cooling to a minimum, making building operation more sustainable and cost-efficient. A passive house can require up to 90% less heating energy than a conventional building and can therefore significantly reduce CO2 emissions.
Energy-saving apartment: an energy-saving apartment is an apartment that is specifically designed for energy efficiency. Similar to the Passive House, energy-saving apartments use energy-efficient building materials, strong thermal insulation, an airtight building envelope, and a controlled ventilation system to minimize the energy needed for heating and cooling.
Unlike Passive Houses, however, energy-saving apartments do not have to meet all of the strict requirements necessary to be certified as Passive Houses. Instead, they can focus on specific energy efficiency standards set by national or regional governments or by the building industry.