Ranked as number one for foreign direct investment in Germany, Düsseldorf is a cosmopolitan city and an international business hub for leading trade fairs. Thanks to its high quality of life at moderate living costs, the city attracts many international companies and global investors. As the city is located in the heart of Europe, Düsseldorf airport is Germany's third largest passenger airport and is also an important contributor to ensure its significance in Europe.
Due to its steady economic growth and diverse leisure facilities, Düsseldorf is a highly sought-after residential destination for many people. With a population of 600,000 citizens, Düsseldorf is Germany's sixth largest city. A total of 11.4 million people live within just one hour drive radius. And nearly one third of all consumers in the EU live within a 500-kilometer radius of Düsseldorf.
As Düsseldorf is known for its high quality of life and work-life balance, the city also earns a reputation as a great city for expats and their families. Foreigners account for about 17% of the city's population. The Japanese and Chinese communities, in particular, have been growing rapidly, making Düsseldorf a thriving international business location in Europe.
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 ad 2018.
In Düsseldorf, the average annual property prices per square meter has increased from 2.300€ in 2008 to 4.830€ in 2018. Meanwhile, the average rent prices per square meter also increased 9,75€ from in 2008 to 14,00€ in 2018.
LoanLink is a German mortgage broker that specializes in helping international clients access Düsseldorf real estate. Our professional Düsseldorf mortgage broker team is experienced, and are committed to walks clients through the process in English, Chinese, Russian and German. With a highly advanced technological platform, we can identify the best mortgage rates from over 400 regional and global German banks.
Our smart online mortgage platform can help you with the German mortgage process at any time of day or night. And, our mortgage calculator shows a complete picture of what your mortgage might look like. To make the process easy for non-German speakers, all resources are in English, Chinese, Russian and German. Best of all, we do not charge our customers any fees.
LoanLink is registered and controlled by the surveillance authority in Düsseldorf.
Can’t find what you’re looking for here? We’ve got more answers on our FAQs page.
When buying a property in Düsseldorf, 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 downpayment, purchase fees should be covered by the buyer’s own equity instead of a bank mortgage. In Düsseldorf, the approximate additional purchase fees are as follow:
Real estate tax: 6.5%
Real estate agent fees: 3.57%
Notary costs: 2%
Total costs: 11.07%
For more information in regards to the additional fees you would pay when buying a property in Düsseldorf, please check out our mortgage calculators 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.
As soon as your initial mortgage expires, you have two options. On one hand, you can choose to pay off the entire mortgage at once. Otherwise, you can refinance at current market interest rates with your current bank or a new lender. In most cases, refinancing with a new lender results in better rates for you.
We can help you to identify the best refinancing deal from 400+ partner banks.
Generally, lenders require information about your personal and financial situation. Some of the documents you will need include:
To list all documents you may need, please find a Complete document checklist on our blog.