“When I moved to Berlin in 2013, it was rather simple to find an apartment. I went to numerous viewings (inside the Ring Bahn, relatively central) within days of landing in Berlin and had a few options of places I might take - all with very reasonable rates of €600 for an entire apartment. apartments for sale
“I opted to wait a few months until I gained a better sense of the area and was able to take over a friend's lease who was moving out. This is where I lived till 2019, spending €736 a month (not including bills) for a one-bedroom apartment in a nice neighborhood nearby to many attractions such as parks, pubs, restaurants, and public transportation — quite livable.
“I was making a good living, so my rent was about 20% of my take-home pay. To put that into perspective, if I had the identical set up in Dublin, I would be paying about half of my income in rent.
“Berlin is a renter's city, and there are tight rent controls in place to keep the vultures out. The federal government, particularly in Berlin, works for the people rather than the wealthy. Perhaps this is a result of their East German socialist influences. For €1,700 a month, a buddy of mine leased a brand new luxury flat in Stadtmitte, right in the heart of Berlin. Over there, that's regarded incredibly expensive.”
Sydney, Australia: 'Every week, I was earning more than twice my monthly rent.'
“I spent a year in Australia - I left Ireland because I wasn't sure what I wanted to do and worked primarily as a laborer in Sydney. I was earning $1500 a week after taxes, with a monthly rent of less than $750 in a house share. In Ireland, we are unquestionably being fleeced.
“I'd like to return someday, but with my mother's age, I'll be staying in Ireland for the time being.”
‘We reside in a cooperative housing tower in Copenhagen.'
“To be able to buy property in Denmark, you must be Danish, have lived in the nation for at least five years, or have significant familial connection to the country. Although the system isn't perfect, there is a mindset that these aren't simply houses, but homes.
“My Danish partner and I essentially reside in a 32-unit cooperative building (andelslejlighed). We bought a share of the building with the right to inhabit our flat (through a standardised method, as is typical with these types of structures) (80m2). We could arrange a mortgage for the share in the same way we could for a home. Taking into account that wages are higher here, our share cost around €220,000, which is about the same as Marino for a two-bedroom apartment in a moderately popular Copenhagen area, close enough to pedal to the city center.
“We pay roughly €500 per month for the upkeep of the building, shared garden maintenance, property tax, water, wifi, bins, and other expenses. It also serves as a deposit for our heating bills, which we will receive back if we do not use it. We pay for electricity separately.
“We paid around half of what a similar apartment with ‘full' ownership would cost (ejerlejlighed), but our place is practically ours to deal with as we choose. The share price is fixed, and we cannot lawfully accept more than the value of the share when we sell it. Because it is not traded on the open market, it is not subject to major short-term rises or losses (although both are possible over time).
“If we make changes to our flat, we can save the receipts and ask for the cost to be deducted from our share price. When we sell, an independent individual evaluates all improvements on a constant basis. These renovations will depreciate over time, so be careful what you do or hire specialists to do it for you. Even if you lose a little money here, it's still a better investment than paying rent.
“We might only get our money back if we sell in the next several years, but that's ok with us. The stability is appealing to us. We are not attempting to generate a profit; rather, we are seeking a high quality of life. We can't sell to our children or friends, and we can't own numerous houses in addition to this one because there are often waiting lists to join the associations. We can't rent to students or use airbnb since we have to live there, which implies that more people will have access to these chances.
“Waiting lists are also a common technique to secure long-term low-cost rentals in this city. It may take a few years, but once you're in, renting can provide you with a good, stable home. Evictions are difficult to carry out, and because rental buildings are frequently held by pension funds, they prefer steady long-term growth over immediate profits.
“In recent years, a business (Blackstone) attempted to join the Danish market by using loopholes to say they had restored apartments and increased the rent. The media expressed indignation, and the government acted to remove the loopholes and put a stop to the situation. In fact, there are certain statutes that require inhabitants to be offered the opportunity to acquire the building and form a cooperative association before it can be sold on the open market, implying that individuals have more control and choice. When I first arrived, this was something that just blew my mind.
“I admire the people-protection mindset. I want to return to Ireland soon, but it's difficult to leave this environment and find a place to live in Dublin!!”