Bremen is the second most populous city in north-western Germany with a population of 678,753 as of 2017. The federal state of Bremen is the smallest of all German states with an area of only 419.0 km².
Bremen is the 6th largest industrial hub in Germany with major developments in the field of automotive, aerospace & aeronautics, and electrical engineering. Moreover, the presence of a port makes the city the second largest international trade center after Hamburg. Bremen’s port is a crucial hub for transportation of goods as it is the 7th largest inland port and the 2nd largest sea port in Germany. Its proximity to the North Sea promotes international business and trade.
The real estate market in Bremen is expected to witness high demand in the coming years due to the increasing foriegn population, which contributes to approximately 15% of the total population and the rise in the number of new builds in 2017.
In 2016, the purchase price for new builds witnessed an exceptional increase in condominiums being valued at €4,400/sqm, however, prime locations witnessed a purchase price of €5,000/sqm. In 2018, purchase prices for new builds increased by 6% on an average and around 12% for prime locations. Whereas, land for residential buildings was priced between €800 to €1300/sqm in 2018.
In 2018, locations within Bremen city such as Old Town project ”Stephanitor” and the Marcusallee in Bremen-Horn experienced a significant increase in the purchase price going up to €6,000/sqm.
Residential rents in Bremen witnessed a slow growth in 2017 with rent in prime locations higher by only 3.6% than 2016 reaching €14.29/sqm. However, average rents for new build property was €11.17/sqm in 2017, a 4.4% increase as compared to 2016.
We’re in partnerships with multiple property listing pages and real estate agents to help you find a home. For instance, if you’re planning to buy a property in Bremen, particularly new build real estate, you’ll find neubau kompass very useful to find a property!
Germany's strong economic growth has resulted in price increases across German cities: On average the prices doubled in the last 10 years. Rents also follow the house price development in Germany: the average increase amounts to 50% between 2008 and 2018.
In Bremen, average rent prices for new constructed property was €11.30/sqm. However, the purchase price for new build property varying between €3,700/sqm or €5,500/sqm in 2018.
The below figure depicts the purchase prices in Bremen and other German cities for the year 2018 along with the forecast data for 2030.
LoanLink is a German mortgage broker, specialized in the Bremen real estate market. We also help expats and foreign investors get a mortgage. Our Bremen mortgage broker team will advise you in English, and our online platform will find the best mortgage rates from among 400+ regional and global German banks.
You can access our platform any day of the week, at any time, to find help with a German mortgage. Not only that, our mortgage calculator can also show you how much you can borrow, and what your monthly payments may be. And best of all, our resources are in English and are completely free.
LoanLink is registered and controlled by the surveillance authority in Bremen.
Can’t find what you’re looking for here? We’ve got more answers on our FAQs page.
When buying a property in Bremen, you always have to pay for additional fees, such as real estate tax, real estate agent fees, notary costs etc. In Germany, purchase fees may be up to 15% of the property’s purchase price. Similar to a down payment, real estate purchase fees should be covered by the buyer’s own equity instead of a bank mortgage. In Bremen, the approximate additional purchase fees are as follows:
Real estate tax: 5%
Real estate agent fees: 5.95%
Notary costs: 2%
Total costs: 12.95%
For more information in regards to the additional fees you would pay when buying a property in Bremen, please check out our mortgage calculator for a more accurate calculation.
First, the exact amount of your deposit depends on if you live and work in Germany.
I live and work in Germany:
You can borrow up to 100% of the property price. Overall, your deposit should cover the purchase fees, which will depend on the property’s location in Germany. Usually purchase fees are between 5-15% of the property price. Such fees include: stamp duty, notary fees and real estate agent tax.
I do not work in Germany:
Generally, you can borrow up to 60% of the property price. So, your deposit should cover 40% of the property purchase price as well as the purchase fees (5-15% of property price). As shown above, these fees include stamp duty, notary fees and real estate agent tax.
LoanLink’s mortgage affordability calculator is tailored to buyers of different residency status to work out how much house they can afford in Berlin. By simply inputting a few numbers, you will find out your maximum affordability within seconds.
Altogether, the timeline depends on you. If you have all relevant documents ready the process can take only a few days. In case you want to be covered as fast as possible, please let us know. We have direct relationships to the credit departments of our partner banks and can accelerate the process.
In essence, a mortgage broker is an intermediary who brokers mortgage loans on behalf of individuals. We compare the mortgage products with an algorithm that spots the best deal for you. Accordingly, you can either visit us in Berlin or Frankfurt or you can simply use our online application process. It’s all digital!