German real estate has always been considered a stable asset. The fall in prices in 2022–2024 has shaken this image only slightly. Indeed, the German real estate market does not like sharp jumps: they do not happen even during a crisis.
And local laws are quite liberal, for example, foreigners can buy any property in full ownership.
Any property owner in Germany, regardless of citizenship and residence permit, is obliged to pay property taxes and reimburse utility costs. Debtors are strictly monitored in Germany. Debt can lead to significant fines and visa denial. And the debt can be entered in the land register, and if payment is not made for a long time, the property will likely be sold at auction.
Real estate in Germany can be purchased without visiting the country. To carry out the transaction, the buyer issues a notarized power of attorney to a representative, such as an agent, or a special consent to carry out a specific transaction on his behalf (Genehmigung). This document is prepared by a notary in the home country, then apostilled and translated into German. The original is sent to Germany by mail or courier service.