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Chapter 6 A Look at Germany. Geography. Länder. Modern State of Germany. Old cities, towns, villages New country—I871 History entwined with other European countries 1945—split East and West 1990—united. Logistics Center of Europe. Major (3 rd ) economic sector

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modern state of germany
Modern State of Germany
  • Old cities, towns, villages
  • New country—I871
  • History entwined with other European countries
  • 1945—split East and West
  • 1990—united
logistics center of europe
Logistics Center of Europe
  • Major (3rd) economic sector
  • 60,000 logistic companies , 8% of workforce and GDP
  • Seaports, roads, railways, freight hubs, inland waterways North Sea to Black Sea
slide6

Dismantling socialist system, fostering capitalism, democracy

    • Privatizing property and restarting private enterprise—Treuhand
    • Unemployment and migration
    • Solidarity tax
  • Wall in the mind—Ossi and Wessi, Ostalgie

Unified, still Divided?

real estate professionals
Real Estate Professionals
  • No federal or state licensing
  • Immobilienverband Deutschland (IVD)
    • Merger of Ring Deutscher Makler (RDM) and VerbandDeutscher Makler (VDM)
  • Membership requires qualification exam and proof of professional liability insurance
real estate transactions
Real Estate Transactions
  • Once-in-a-lifetime event, extended search
  • Makler conveys the offer to the seller
  • Notar prepares purchase contract
  • Buyer must demonstrate ability to pay
  • Priority notice in land register
  • Signing ceremony, funds placed in notar’s account
  • Notar applies for registration in Grunbuch
  • Seller receives payment when registration complete—about 40 days
slide10

Lowest homeownership rate in the EU—only 40%

  • Post-War housing shortage
  • “Once a renter always a renter”
  • Low market turnover
  • Scarce , expensive land
  • High down payments

Germany:

Nation of Renters

slide11

Rental laws favor tenant

  • Maximum 3 months’ deposit
  • Controls on rent increases
  • Landlord pays utilities
  • 3–9 months notice to remove a tenant
  • Tenant can refuse if undue hardship

Germany:

Pro Tenant

commercial real estate
Commercial Real Estate
  • Five cities contain most Class A space
    • Berlin, Hamburg, Düsseldorf, Frankfurt, Munich
  • Administrative centers
    • Bonn, Münster, and Wiesbaden
  • Essen
    • Information and technology, healthcare, insurance companies, corporate headquarters
  • East lags behind West, except Berlin
  • Risk-averse and conservative investors
slide13

www.deutschland.de

  • www.bundesbank.de
  • www.destatis.de
  • www.germany-re.com
  • www.invest-in-germany.de
  • www.german-business-portal.info
  • www.dihlc.de
  • www.bfai.de

Web Sites

judicial system
Judicial System
  • No trial by jury
  • Courts of Justice
    • Federal, Regional, Local
    • Criminal, Civil, Family cases
  • Specialized Courts
    • Administrative
    • Finance
    • Labor
    • Social
government
Government
  • Basic Law : constitution established 1949
  • President: head of state
  • Chancellor: head of government
  • Bundestag
  • Bundesrat
  • State (Länder)
  • Municipal (Gemeinden)
taxes taxes taxes
Taxes-Taxes-Taxes
  • Tax residency: 183+ days over 2 years
  • Income tax: nonresident foreigners 25 – 45%
  • Solidarity tax: 5.5% surcharge on income tax, paid by West Germans
  • VAT: 19%
  • Capital gains tax: none on real estate owned 10+ years
  • Rental Income: 25% for non EU citizens
  • Television License: €17monthly fee
slide18

Masters of planning

  • Values: order, structure, stability, discipline, responsibility, punctuality
  • Straightforward
  • Personal relationship not needed for business
  • Separate business and personal life
  • Great pride in their homes

Beyond the Basics