Home Purchase of property Renting out Sale of property Our services Links Contact Imprint There are no restrictions for foreign nationals on buying a property in Germany. Financing is possible for non-residents, but should not be expected to cover more than 60% of the purchase price. It is recommendable to employ an agent (Makler) when buying a property. He will assist during the whole purchase process. Any transfer of ownership of real estate in Germany needs to be done at a notary public (Notar). If seller or buyer has limited German language skills, an English speaking notary is recommendable. He could draw the contracts with English translations. Change of ownership needs to be declared to the land register (Grundbuch). This is done by the notary automatically. When buying a property in Germany, real estate transfer tax (Grunderwerbsteuer) is due. The real estate transfer tax is a state tax that applies on any transfer of real estate. Normally, it is paid by the buyer. Basis for calculation of the real estate transfer tax is the purchase price of the property. Furniture that is included in the purchase price might be exempt if certain requirements are met. The tax rate is assessed by the state your property is located in. In 2014, the rates are between 3.5 % and 6.5 % Normally, the transfer of ownership of a purchased property can’t take place unless the real estate transfer tax is assessed and paid. Summary of transaction Costs:                                                                 Who Pays? Real Estate Transfer Tax 3.5% - 4.5% buyer Notary Fees                    0.6% - 1.5% buyer Land register Fees          0.2% - 0.5% buyer Broker's (Makler's) Fee          1.78% - 3.57% buyer or seller Please feel free to contact us in case of any questions. Purchase of property in Germany