Worldwide Property Forums | Berlin-good areas

I have Tom, from Dresdner Bank. I am self employed so that tended to slow down the process. To UK nationals, German banks tend to lend most easily on pre-rented flats. LTV is nominally 70% but that can be reduced simply by their cautious outlook , I ended up with about 58% and remortgaged my UK property at a considerably higher interest rate. I am just about cash neutral but I am buying 3 apartments for under £100,000 in favourable areas of Berlin. BTL is apparantly very hands off- tenants stay for many years and buy often their kitchens etc. Because of the culture, many tenants regard their flats as their own, and of course it is virtually impossible to evict a tenant, as rental contracts are for life. It is important to establish that the rental received is in line with local Fair Rent Tribunal (Mietspiegal) guidelines, a good sourcing agency/solicitor is very helpful. The feeling on the ground is that now is an excellent time to buy individual apartments as the price has not appreciated that much while the price for wholesale blocks of apartments has moved considerably as many institutions have bought en masse (especially US and UK) I feel Berlin will take time but it is so much safer than anywhere in CEE (even Prague) as flats are very affordable for much of the local population, and the buying culture will eventually take root. Service costs are high but quality is high, as there is considerable difference between the Kaltmiete and Warmiete (cold and Wram rents) I have been really impressed seeing the growth PS gets in CEE, but I am cautious because I have not seen any real evidence of many UK investors trying to sell (exit ) in the local market, so that is why I took the value strategy and elected to target Germany.