Three rental flats in a new condominium, which comprised of 193 apartments (21–38 sqm).
The construction will be ended on the forth quarter of 2017.
The cost of rent is 25 € per m²
Property of this type is sought-after for students-tenants. The owner gets long-term rent revenue for the low cost investment. The projected yield is more than 4%.
Interior
Apartment consists of light living-room combined with kitchen and dining area, and bathroom.
Equipment
- flat is furnished;
- kitchens equipped with modern appliances.
Advantages
Complex may offer at residents'disposal: lounge with access to the terrace, event room, laundry, vending machine for hot and cold drinks in the hall, roofed area for bicycles and underground parking for 30 cars. Personal parking lot costs 39,000 €. Each apartment has a cellar compartment with the size of 1 m² There is a security service in the building.
Owners may use services of management company, which assumes responsibilities associated with searching for tenant, singing lease agreement, property maintenance, managing, tenant communications, insurance, renovation, etc.
Projected absolute income with deduction of expenses on management company amounts to 18,600 €.
Projected yield of 4.5%.
Projected price increase of the property is 5% p. a.
There is the possibility of obtaining a mortgage lending in the amount of 50% of the total value of the property at 2% per annum.
Notary fee of 1.5%.
RE purchase tax of 6%.
Land registry of 0.5%
The broker's fee of 3%.
The rent management costs 771 € per year.
The monthly maintenance fee is € 6.52/sqm, of which € 4.81/ m² can be transferred to the tenant. Electricity and Internet costs are included in the monthly maintenance fee.
Residential complex is situated in district of Prenzlauer Berg. There are parks, many shops, movie theatres, fitness clubs and several shopping malls in close proximity to the house. Public transport stops and Metro stations are located withtin walking distance from the building.