Why Winter Can Be The Best Time To Sell A Property In Berlin
There are lots of myths around the best time to sell your home. We’re advised not to bother trying at Christmas or during the summer holidays. Spring is the most popular time to sell property in the UK as better weather means you can show off your garden and bank balances are slightly healthier post Christmas. So, does Germany follow the same trends?
“January is traditionally a quiet time for us,” says Achim Amann from Black Label properties Berlin. “However, last month we were really busy with sales – mostly 1 and 2 bed apartments, which form the bulk of our business. We had clients enquiring in November and December who booked themselves in for January to visit and buy properties.
“Winter is a really good time to sell in Berlin, especially if you have property in the city centre as this appeals to overseas investors. “We have lots of people looking for 1 or 2 bed apartments in the city centre so they can live an urban lifestyle when they’re over here”.
“We don’t really have ‘seasonal selling’ like the UK as Germany is still predominantly a rental market, so there’s always a good return on investment. The domestic market is really strong and you can sell quickly at a premium price – typically within 2-3 months. The quickest sale I’ve done was in 48 hours!”
“Properties with the largest demand last quarter were studios and 1 bed apartments in Berlin, with a yield of between 3-4% per year. The average price range for small apartments was between 190.000€ – 280.000€. Areas like Kreuzberg, Charlottenburg and the booming Moabit were the most in demand.”
“Another good reason to sell or rent your property now is that interest rates are low. As the European Central Bank has again flooded the markets with cheap money, the interest rate for international property buyers just went down to 3% – 3.5% per year on average. Many international clients will benefit from the comparable weak EURO to US Dollar and British Sterling exchange. Small to medium sized apartments under 500.000€ are easy to let and sell.”
Berlin and Hamburg took the top two positions for overseas investment in the Emerging Trends in Real Estate report by PWC and the Urban Land Institute so it’s a great time to get your property on the market if you’re looking to sell.