Frankfurt, the biggest city in the state of Hesse (Hessen), is best-known for housing the “Frankfurter Wertpapierbörse” -- the largest stock exchange in Germany (10th largest by market cap globally). With a population of more than 2.3 million, including its urban area, Frankfurt is the 5th largest city in Germany. Besides hosting the headquarters for major banks, financial institutions and multinational corporations in Germany, the city also has one of the largest commercial airports in the world. People like to call it “Mainhatten”, because the city has the largest number of skyscrapers in the EU.
Frankfurt has one of the highest densities in the region with a current population of 729,624, there has been an increase of 64,300 residents (~9%) since 2009. In 2012, Frankfurt attained the title of the highest productivity of Germany's 30 largest cities with a GDP of €84,427 Euros per employed person (in 2012).
Compared to other major German cities, Frankfurt has a considerably low unemployment rate of 5.6%. Frankfurt is also culturally and ethnically diverse, with 51.2% of the population having an immigrant background in 2015. Home to as many as 180 nationalities, Frankfurt is a very multicultural city. It has the second-largest Korean community in the whole of Europe, as well as the largest Sri Lankan Tamil community in Germany.
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 Frankfurt, 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 advisor specialized in helping customers purchase property in Frankfurt. Above all, we help international clients get a home loan. Our experienced Frankfurt mortgage broker team provides professional advice in English. What’s more, we leverage our technology to scan the mortgage rates for 400+ regional and global German bank. We make sure you find the best deal!
Our smart online mortgage solution is available 24/7 to guide you through the German mortgage process. And you can use our mortgage illustrator to see what your mortgage and monthly payments might look like. Additionally, our documents and advices are in English and is completely free of charge.
LoanLink is registered and controlled by the surveillance authority in Frankfurt.
Can’t find what you’re looking for here? We’ve got more answers on our FAQs page.
When buying a property in Frankfurt, 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 Frankfurt, the approximate additional purchase fees are as follow:
Real estate tax: 6%
Real estate agent fees: 5.95%
Notary costs: 2%
Total costs: 13.95%
For more information in regards to the additional fees you would pay when buying a property in Frankfurt, please check out our mortgage calculators for a more accurate calculation.
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.
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!
Buying a home is complicated and stressful - even for German native speakers. We’ve created a comprehensive and easy to understand guide to buying a property in Germany: