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Section of property-Cost you buying property

There are several types of taxes and fees a purchaser should pay when buying a house in Germany:
Transfer tax is between 3.5% and 5% of the property price
Registration at the land registry costs 0.8-1.2% of the selling price
The notary fee can be up to 2% of the price
Fees for any translators or lawyers you may need
Bank fees for transferring the amount for the estate to the seller (between 0.1 and 1%, depending on the price of the property)
German municipalities also collect an annual tax on land/property - the Grundsteuer. Its net total depends on the assessed value of the property using a basic federal rate of 0.35%. This amount is then multiplied by several coefficients to calculate the final tax due. The effective rate is between 0.98% and 2.84% of the monetary value, the average rate is 1.9%.
Non-residents are subject to a wealth tax on property owned in Germany (around 0.5%).
Buying an apartment in Germany comes with monthly expenses other than the mortgage. Monthly fees which cover water, heating costs, rubbish collection and general upkeep can add up to a couple of hundred Euros a month.
It is also quite common for homeowners in Germany to pay for maintenance of the street where their property is situated. This should be stated in the property contract.

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