At the moment, around half a million Croats live in Germany, and most of them live in rented accommodation. Still, there are also those lucky ones who managed to take out a loan and buy a place of their own and no longer depend on the whims of their landlords and the constant rise in apartment prices.

A Croatian employee of Deutsche Bank explained in a TikTok video how much income a single person would need to be able to buy property in Germany. Using the example of a Croatian worker living in Germany, she explained what conditions a client who wants to take out a loan to buy an apartment or house must meet.

As this woman explained, Deutsche Bank cooperates with other banks, and through their service and by entering employee data, it can be checked whether there are interested parties who would offer this client a property loan.

He has a monthly salary of 2,300 euros

Namely, he is employed in the German city of Ulm, was born in 1995, receives 12 monthly salaries of 2,300 euros each, has Croatian citizenship, and is permanently employed.

In addition to his primary job, the client also has a second job where he earns 500 euros per month, but at the same time he pays a car installment of 275 euros per month, for which he still has to pay 14 thousand euros.

He would like to take out a loan in the amount of 165,000 euros, with the addition of the broker's fee (people who mediate on behalf of others in concluding contracts for the purchase or sale of goods), which generally amounts to 3.57 percent (it can also be lower), the VAT amount of five percent, and the property registration notary fee of two percent, which would ultimately bring the loan amount to 182,442 euros.

It is difficult to find a bank for a loan

Since this young man has no capital of his own that would serve as a down payment on the loan, it is harder to find a bank interested in lending and financing. He was lucky and managed to find a bank where he can borrow and pay monthly interest of 4.01 percent.

In the end, she explained what the loan repayment would look like. When his income totaling 2,800 euros is added up, from which the car installment is deducted, then the loan payment, which would amount to 857 euros. The total amount includes living expenses, which in his example amount to 1,540 euros, and in the end there is a surplus of 128 euros, which, in the opinion of this bank, is a good amount, which is why it agreed to lend to this Croat.

Although the loan installment is much higher than it would be in Croatia, considering the standard of living, it cannot be expected that this figure would be lower in Germany. Whether it is worth buying property abroad like this, judge for yourself.

Source: dnevno.hr