Interview: Luxury Real Estate Agent Schönberger: "We will soon see many lakefront properties on the market"

Paul Schönberger, a Munich real estate broker, recently told the Handelsblatt that the market for lakeside properties in Germany is set to see a significant increase. In an interview, Schönberger discussed the reasons behind this change, the types of buyers interested in these properties, and the challenges involved in selling them.

He mentioned that there has been a generational shift over the past few years, leading to the emergence of some truly remarkable lakeside properties in the Munich area for the first time in decades. These properties often boast a private dock, a boathouse, and direct access to the lake, with an added bonus of mountain views and a quiet location on the eastern shore.

Such properties can fetch prices in the double-digit millions, though not all are priced that high. The sale process for these properties is also much slower than usual, often taking several months due to the complex legal issues involved. This complexity arises from the fact that these lakeside properties have often been in family ownership for generations, with various rights and obligations attached, such as a local sailing club's right to use the property for boating or a family's right to maintain a beach.

These rights can only be removed if the individuals benefiting from them formally relinquish them, which can be a difficult and lengthy process. The presence of such rights can significantly reduce the property's value by several million dollars. Buyers interested in these lakeside properties should carefully examine any such rights and obligations, as well as any environmental or community restrictions.

They should also consider obtaining comprehensive insurance coverage for potential natural disasters and a garage to park vehicles safely, as some communities require residents to keep their garages open during floods to prevent water damage. The primary buyers of these lakeside properties are usually younger individuals aged 30 to 45, who either inherited the property or recently sold a successful business.

In the Fünf-Seen-Land region, around Munich, there are many first-time homeowners purchasing these properties for their primary residences, as they are conveniently located near major cities and have easy access to public transportation. However, the more distant lakes are primarily intended for vacation homes and second homes, attracting tourists who appreciate the area's excellent infrastructure and natural beauty.