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Why the service charge, reserve fund and the minutes of the owners' association reveal more about the value than the apartment itself.
Read moreFor condominiums, the property tax value is first determined for the entire building or property and then allocated proportionally to the individual units according to the co-ownership share registered in the land register.
Read moreThe tax office issues a separate, proportional property tax value notice for each condominium unit within the community, based on the co-ownership share of the respective unit as registered in the land register.
Read moreAppraisal reports for condominiums are usually cheaper than those for single-family houses due to lower complexity, often ranging between 600 and 1,200 euros, whereas single-family houses often cost 900 to 1,800 euros.
Read moreCondominium units are valued in the equalization of accrued gains like other properties as of the dates of marriage and litispendence, usually using the sales comparison approach, supplemented by property-specific factors such as maintenance reserves or rights of exclusive use.
Read moreIn the event of inheritance, condominium units are valued analogously to houses using the standardized procedures of the Valuation Act (Bewertungsgesetz), usually via the sales comparison approach, provided sufficient comparable data for similar units is available.
Read moreCondominiums are usually valued using the sales comparison approach. In addition to the flat itself, the co-ownership share in the common property, special usage rights, and the structural condition of the entire building are factored into the valuation.
Read morePartial ownership (Teileigentum) is valued similarly to residential condominium ownership, but taking the differing type of use into account. Parking spaces and commercial units within condominium owners' associations follow their own comparison criteria and rent levels.
Read moreA well-funded maintenance reserve tends to have a value-enhancing effect, as upcoming renovations are already financially provided for. A low reserve, on the other hand, can indicate future special assessments and therefore a discount.
Read moreSpecial usage areas such as gardens, terraces, or parking spaces within a homeowners' association are available for exclusive use by one owner, but legally remain part of the common property. They are taken into account with their own, usually moderate, value premium.
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