Berlin Property for Sale - Proventure PVB(3)
3
Ansbacher Carré, Berlin Multiple Investment Opportunity 68 sqm Apartment – 116,800 EUR 81 sqm Apartment – 149,500 EUR Property Description: Condominiums in very solid multiple dwellings with generous open spaces and older trees that characterize the residential estate. The apartments are in 7-storey houses built in 1960 and modernized/ repaired in 2002/2003. The entire estate is in a well-maintained with the size of premises: 12,005 m². Some of the apartments have already been sold, either to tenants of the residential estate or, if vacant, to other enquirers. Sales status 2009: 27 out of 48 apartments. Property Potential: The building is located in the central city location in the district of Schöneberg. Complete urban infrastructure. According to the rent table published for Berlin in summer 2009 the property’s location is rated as good. The apartments offered are rented-out condominiums of varying sizes and layouts. In the individually owned sections the apartments have not been renovated. The enquirer’s title to the property will be secured by pertinent entries in the land register. Apartments with 2.5 rooms and balcony are approximately 68 m² and apartments with 4 rooms and balcony approximately 84 m². A cellar unit is allocated to every apartment. Rents are currently considerably under market value and a programme of rental increases should be adopted upon completion.
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Multiple Investment Opportunity Rents are currently considerably under market value and a programme of rental increases should be adopted upon completion. Property Description: Property Potential:
Transcript of Berlin Property for Sale - Proventure PVB(3)
Ansbacher Carré, BerlinMultiple Investment Opportunity
68 sqm Apartment – 116,800 EUR81 sqm Apartment – 149,500 EUR
Property Description:
Condominiums in very solid multiple dwellings with generous open spaces and older trees that characterize the residential estate. The apartments are in 7-storey houses built in 1960 and modernized/ repaired in 2002/2003. The entire estate is in a well-maintained with the size of premises: 12,005 m². Some of the apartments have already been sold, either to tenants of the residential estate or, if vacant, to other enquirers. Sales status 2009: 27 out of 48 apartments.
Property Potential:
The building is located in the central city location in the district of Schöneberg. Complete urban infrastructure. According to the rent table published for Berlin in summer 2009 the property’s location is rated as good. The apartments offered are rented-out condominiums of varying sizes and layouts. In the individually owned sections the apartments have not been renovated. The enquirer’s title to the property will be secured by pertinent entries in the land register. Apartments with 2.5 rooms and balcony are approximately 68 m² and apartments with 4 rooms and balcony approximately 84 m². A cellar unit is allocated to every apartment.
Rents are currently considerably under market value and a programme of rental increases should be adopted upon completion.
Investor Profile:
With the good tenant structure in place and in an area of strong tenant demand, this property will appeal to an investor who seeks a lower-risk and stable investment with a stable yield. The low overall purchase price will mean a low deposit is required which will suit some investors. In terms of finance, the property offers little risk and should present well to banks. Finance around 60-70% should be expected, depending on client status and bank chosen.
Investment Overview:
Source: Mietspiegel 2009, administrational office for city development
This location is very popular due to its cultural highlights such as theatres, cinemas, the opera as well as 5-star hotels (Kempinski, Intercontinental, etc.) and restaurants in close proximity. The streets and places in this vicinity are shaped by the magnificent fronts of early 19th century buildings. Here advertisement companies, fashion designers and artists have their offices next to the stock exchange, banks and the university of Arts. Berlin’s mature infrastructure and urban sophistication offer high standards where life style quality is concerned, just as in the golden days of the German capital in the 1920’s. What makes life in City West such a valuable experience is the colourful mix of past and present, traditional culture and in scene, work and leisure. According to the rent table published for Berlin in summer 2009 the property’s location is rated as good.
Financial Information:
Sales Price [Fixed] 116,800.00 Euro 149,500 EuroCurrent Rental (annual) 3,819 Euro 4,407 EuroCurrent Yield (%)1 3.30% 2.95%Potential Yield (%) 5.4%+ 5.4%+Total Living Area m2 68.07 sqm 81.18 sqmPrice m2 1,715 Euro 1,841 Euro
1 Yield is the net total of all costs in the table.
The profitability of a rented apartment improves best by rent increases and value growth. Experts expect a strong increase of rents and purchase prices for good city locations and high quality properties in the next 10 -15 years. After all : The price for residential property in Berlin are still very low compared to other big cities. The table below gives you a simple overview of potential effects – depending on the expected value growth. This proves that low yields paired with good property and a good location very well can be the right choice!
Additional Photos:
About ProVenture Property:
ProVenture are a UK based property investment consultancy who aim to provide an unbeatable level of support to the investor at every stage of the investment process. This includes:− General consultancy prior to purchase.− Accompanied inspection trips (if required).− Assistance with UK and German financing.− Assistance with all legal aspects.− Ongoing full management service of purchased property.− Assistance with all UK and German Tax matters.− Assistance with property maintenance,development and eventual sale.E-mail: [email protected]: +44 (0)115 7141 511Mobile: +44 (0)7944 324 155WWW.PROVENTUREPROPERTY.COM
