Investment in Duisburg Germany

[M Gruend]

Does anyone has experience in investing in Duisburg, Germany or surroundings (Düsseldorf, Cologne, Bonn)?

[Daniel K.]

Don't use distance as-the-crow-flies in German cities. A single km in a typical German city can be a considerable difference depending on the transport routes.

Cities are very dense, and many people rely on public transport. Also, realtors don't exist in the same form as they do in the US. The closest US equivalents are wholesalers. I.e., there is no MLS and there typically is only the listing agent, so you don't "look for a broker / makler," you look for the property and deal with the broker.

For brokers with the most reliable reputation, look for the IVD deal, which is kind of equivalent to the NAR (a big asterisk on kind-of).

Finally, I wouldn't expect the same sort of gross yields you might expect in the US. Gross yields are much lower. This is driven by the different way RE is taxed in Germany. i.e., holding costs are very low; but transaction costs are very high.