Yes. Foreigners — EU and non-EU citizens alike — can buy multi-family properties in Germany without nationality-based restrictions. Non-EU buyers typically face stricter mortgage conditions, usually needing a deposit of 40–50% rather than the 20–30% common for EU citizens or German residents.

The purchase itself always goes through a notary, which protects both parties regardless of nationality. What trips people up isn’t eligibility — it’s financing, paperwork in German, and knowing which banks actually work with foreign buyers. That’s usually where an experienced advisor saves the most time.

Beyond the purchase price, expect to add roughly 9–15% in additional costs: real estate transfer tax (3.5–6.5%, depending on the federal state), notary and land registry fees (around 1.5–2%), and broker commission (usually 3.57–7.14%, often split between buyer and seller).

For a multi-family building, it’s also worth budgeting for a technical survey before signing — older buildings can carry hidden renovation costs (roof, heating systems, energy efficiency upgrades) that aren’t obvious during a viewing but become mandatory under current German energy regulations.

Yes. Off-market sales — selling without a public listing — are common in Germany, especially for income-producing buildings where owners want to avoid unsettling tenants or alerting neighbors. It requires access to a network of pre-qualified, serious buyers rather than open marketing.

This approach tends to work best when the seller values discretion over reaching the widest possible audience — for example, foreign owners who don’t want their building’s sale becoming local gossip, or investors who prefer a quiet, controlled process from valuation to notary.

If you’ve owned the property for more than 10 years, the sale is generally tax-free in Germany (private sale exemption). Within 10 years, capital gains are taxed as income. Selling more than three properties within five years can be classified as commercial activity, triggering different — usually higher — taxation.

Tax treaties between Germany and your country of residence may also affect where the gain is ultimately taxed. This is genuinely case-specific, so it’s not a substitute for advice from a tax advisor familiar with both jurisdictions — but knowing these thresholds upfront helps you plan the timing of a sale.

Discreet sales rely on three things: a realistic, well-documented valuation; direct outreach to a vetted circle of investors instead of public portals; and a notary process that keeps the transaction private until closing. No “For Sale” sign, no public listing, no open house.

This matters most for occupied buildings, where public marketing can unsettle tenants long before a sale is even certain, and for owners abroad who simply prefer their financial decisions to stay private.

Leipzig currently offers gross rental yields around 5%, noticeably higher than Berlin’s roughly 4.8% or Munich’s compressed returns. Prices remain considerably lower than in Germany’s top-tier cities, while population growth and a persistent national housing shortage continue to support rental demand.

It’s also a less crowded market for advisors and buyers alike — competition among brokers is lower than in Berlin, which in practice means better access to off-market opportunities for those who know where to look.

Beyond location and price per square meter, focus on: tenant structure (long-term vs. high turnover), the building’s technical condition (roof, heating, facade), current vs. achievable rent, and any pending renovation obligations under German energy efficiency law.

A building that looks fully rented can still be a weak investment if rents are far below market rate with no legal path to raise them quickly, or if deferred maintenance is about to become due. Numbers on paper and numbers on-site don’t always match.

Juna Estate GmbH is an agency specializing in multi-family properties across Germany, run by a colleague I’ve worked alongside for over ten years. Together we cover both ends of a transaction — local market knowledge on the ground, and an international network of buyers and sellers.

For clients, this means one point of contact who can move between markets without gaps — whether the property sits in Berlin, Leipzig, or elsewhere in Germany.

My core expertise is Germany — Berlin and Leipzig specifically — but through my network I also advise on selected opportunities in Italy and Spain, two markets currently drawing strong international interest. I don’t list every European market, so I’ll be upfront if something falls outside what I can properly support.

If you’re weighing Germany against other European markets, I’m happy to give you an honest comparison rather than push you toward the city I happen to work in.