Immobilien: Kauf einer Mietwohnung – Das verdienen Vermieter tatsächlich

In a recent survey conducted by the owner association Haus & Grund, it was found that many private landlords are only breaking even or even incurring losses from renting out their properties. The profitability of investing in a multiple-family house under current conditions of rent regulation, high property prices and rising interest rates remains questionable. This article presents three example calculations and a costly mistake to avoid when buying an apartment building for rental income.

Jürgen Michael Schick, CEO of Schick Immobilien in Berlin and honorary president of the real estate brokers' association IVD, advises against making the property itself the yardstick for its evaluation. He suggests that if a prospective buyer would feel comfortable living in the building themselves, or if their children were to live there, it might be an indication of a good investment.

However, Schick also warns that many investors focus on prestige and aesthetics rather than economic viability, which can lead to overpaying for prime locations.

Gerald Hörhan, an investment-focused real estate investor, echoes Schick's sentiment, stating that buyers should focus on the practicality of the location, the building's condition, and the city's long-term population growth prospects. He advises that buyers should not let their personal taste dictate their purchase decision. Schick recommends that buyers look for a property within 100 kilometers of their primary residence to minimize the risk of making a poor investment decision.

According to Schick and Hörhan, a realistic return on investment for a multiple-family house can be achieved with moderate properties in a functional neighborhood. The three model calculations created by the experts show the potential profitability of such an investment. In Model Calculation 1, a property purchased for €200,000 with €900,000 in financing would generate a net annual rent of €55,000 after deducting €11,000 in non-rentable costs, resulting in a profit of €12,500 after accounting for a 3.5% interest rate and 1.5% amortization.

In Model Calculation 2, a property purchased for €300,000 with €800,000 in financing would yield a net annual rent of €55,000, resulting in a profit of €12,500 after accounting for the same interest rate and amortization factors.