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Buying property

asks:
Good afternoon, I'm from Russia. I would like to know the rules for purchasing housing in Germany for foreigners, including those from Russia. Is it possible to purchase housing with a mortgage? Thanks.

Expert answers (2)

Good afternoon, before the pandemic there was such an opportunity, in different German states there were different conditions, but in general, banks issued mortgages to citizens of the Russian Federation, provided there was sufficient official income, documents confirming it and the purchase of an object worth at least 100,000 euros. At the same time, the initial payment, as a rule, had to be at least 50% of the amount and must also be confirmation of the official origin of the funds. At the moment, banks are less willing to issue loans, although, of course, everything depends on the object, the buyer himself, his credit history, the region or even the city where the object is purchased. It is also important whether an object is being bought with tenants or a vacant one.
1.10.2020
Good afternoon, Galina! A citizen of any country with a valid passport can buy real estate in Germany, but buying real estate does not provide an opportunity to obtain a residence permit. From our own practice, we can say that, unfortunately, German banks are reluctant to give loans to people with income abroad (outside Germany). An exception may be - the presence of equity capital in the amount of approximately 80% of the value of the property.

Yours faithfully,
Elena
Leo wacker immobilien
1.10.2020
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