Howdy, I've own a couple of rental properties in the US and I currently rent out just one, my former residence in the US. I'm currently living and working in Switzerland and I've been thinking about buying a rental property either here or in Germany and I was wondering if anyone had any experiences to share. I'm leaning towards buying an apartment (condo) due to the fact that it is cheaper, and less work to maintain compared to a house with land around it, as I have done previously in the US. Quick info: my wife is German and that's part of the reason I'm considering buying a place in Germany, but it also has to do with the high cost of buying a Swiss property. Thanks in advance!
I have no experience with rentals in that part of the world. But here are my 2cents... It would probably be easier renting properties in Switzerland since you already live there. If you travel often to Germany and intend to continue doing so in the future or if you intend to hire an agency to overlook your properties, then proximity is not a concern. If that is the case, Germany is a great country to invest in right now. With Europe's financial transformation to the EU, Germany has come out the leader. Currently, Germany is the richest country in Europe, and the second richest in the world. And because of the increasing financial problems in countries around Europe, loosened immigration laws for EU citizens and other factors, Germany has become the second most popular migration destination in the world. This means rental traffic.
Couldn't you do this via property agents in that area and save yourself the headache, obviously you'd have to part with a small percentage fee but i believe it would be worth it, i know of someone who has rental apartments abroad, and he gets his money every other month, and he doesn't live there, all work done by property agents overseas...complex work solved in a jiffy...i know if i had enough capital, i'd opt for that
Geographical diversification is always a good idea. And yes an apartment would definitely be easier but I don't know how it works in these countries, you might still have quite a few things to take care of in the long run. Due to the work involved in all sorts of real estate investments, I've opted to go with REITs instead of buying property. Diversificatio into multiple areas, all management taken care of.. basically a hassle free way of getting a monthly income.
Buying property by the Alps has to be something great, I just don't know about it as an investment, I would have to analyse the offer and demand before doing it.
I think it is great idea and definitely useful in every manner. I believe one should be careful while buying a property and do not think about anything else.
I agree that buying property in Germany would probably be more profitable in the long run compared to Switzerland, plus it's going to be TOUGH if you don't live there and aren't a Swiss citizen
