How to sell Berlin apartments
Are you currently considering selling your Berlin apartment? We have collected 25 useful tips on how to sell Berlin apartments in a free guide for you. In the guide you will also find a variety of information and check-lists on how to successfully sell your Berlin apartments.
In addition to the exclusive tips for Berlin apartment sellers, which will help you to prepare well the sales process and implement it professionally, you can find in our free guide the current Berlin real estate prices in the different districts. Click here for current information on absolute prices for Berlin apartments and Berlin real estate prices per square meter based on local land values.
Selling apartments in Berlin - not as easy as it seems
Selling Berlin apartments should be much easier than selling a Berlin house, because it is usually worth less than a house. But in practice it is not that easy. For example many prospective buyers have questions about the joint property. In fact, you, as a vendor, are not only selling an apartment in Berlin (private property), but also stakes in the owners corporation.
It is not rare that an Berlin apartment sale fails because a potential buyer does not want to be part of the owners corporation, for example because he did not agree with their choices in the past, or because he has concerns that the community could take decisions that go against his own ideas.
To whom can you sell your Berlin apartment?
Flats in Berlin are often purchased by people who have previously lived in apartments paying rent and now want to acquire ownership of the property in Berlin. These potential buyers, for example, want to save for retirement or reduce their monthly charges. Therefore, it is important to be able to explain the customer that he, as a buyer of the apartment Berlin, has to carry some costs, namely financing, management and maintenance costs. However, these often do not exceed the rent paid in the past, especially taking into account the current low interest rates and the lower burden after debt repayments.
The best thing to do would be providing the customer with a practical comparison "Buy vs. Rent”, so that he can convince himself of the economic advantage. In addition to tenants, pensioners are an interesting target group, for example when they no longer want or can live in their Berlin home and are now looking for a senior-friendly Berlin apartments (e.g. “barrier-free“ Berlin apartments, with lift or at the ground floor, within walking distance to a shopping centre, etc.).
Property prices in Berlin and for your Berlin apartments
First of all it can be helpful to check and analyse the square meter prices for Berlin apartments. When interpreting the data, however, many aspects have to be considered. Besides the two main factors, namely location and condition of flat, other aspects that affect the Berlin real estate price of your Berlin property should be taken into account.
- Year of construction: Berlin apartments from the 50’s, 60’s and 70’s are trading significantly below the prices of older ones and new constructed buildings.
- Floor: It is not uncommon that ground floor Berlin apartments are sold 20% or 30% below the value of flats on higher floors. Many people are in fact afraid of burglars. Furthermore, ground-floor Berlin apartments are usually less illuminated.
- Outdoor options: If a Berlin apartment has no garden or no balcony it is subject to price reduction of several hundred euros per square meter.
- Number of rooms: 2 to 5 -room apartments in Berlin are currently in great demand, because after the war many small apartments were built, but later the demand has shifted towards larger Berlin apartments.
In any case, it is advisable to let the Berlin apartment be evaluated on site by an expert before the sale, in order to determine the probable achievable square meter price before the sale starts. Berlin property market offers Berlin real estate owners, who plan to sell their Berlin property, a free property valuation on site!
Better sell the apartment vacant or rented?
It makes a big difference if the Berlin apartment is sold vacant or rented. Unoccupied flats are usually sold at higher prices than rented Berlin apartments (often up to 30%!), since the demand for vacant flats is much higher than for rented apartments.
There are also other aspects that explain the price difference between vacant and rented Berlin apartments. For example the owner of a rented Berlin apartment cannot unilaterally terminate the occupation agreement with his tenant, because the tenant protection laws prevent this (except when it comes to personal use claims or payment default). Rent increases have narrow limits as well, because they are set by statutory requirements and by the rent index of the city authority. The bottom line is that rented flats are not so popular. Therefore, you should seriously consider selling them when becoming vacant (the rent agreement is coming to an end).
What needs to be done before the apartment sale?
Many owners ask themselves whether they should renovate the apartment prior sale. The answer is: it depends! For example, a renovation may make sense if the target is a group of sophisticated; demanding customers, because they will pay very high prices for perfect Berlin apartments.
In most cases however, a renovation before sale is not necessary. This because refurbishing costs time and money, and the cost of renovation must be earned back over a correspondingly higher price.
Sometimes it may make sense to renovate only certain parts of the Berlin apartment. The best thing to do is to discuss these issues concretely in the context of a property valuation.
Sale of the apartment - with or without a Berlin real estate agent?
As for the house sale, it is advisable to sell a Berlin apartment through Berlin estate agents, provided that you opt for a professional Berlin real estate agency. Professional means that the Berlin estate agents knows the market well, advises also prospective buyers, is familiar with technical matters (understanding and analysis of operating costs, etc.) and some other criteria as well. You can find a suitable Berlin real estate agency under the section Berlin estate agents.
Are you interested in detailed and concrete tips for the Berlin apartment sale?