An inherited flat in St. Johannis can feel like a stroke of luck. And at the same time like a problem you didn't ask for. Suddenly, questions arise that nobody is prepared for: What is the flat worth? Is it worth renting? Does it make more sense to sell? And how do you make a decision without getting annoyed later?
When selling property in Nuremberg, I regularly encounter this exact situation, especially in St. Johannis: sought-after location, often an old building, often emotion, often several parties involved. In this article, I show you how I categorise the question „sell or hold?“ in a structured way so that uncertainty becomes a clear decision.
Why St. Johannis makes the decision more difficult
St. Johannis is in demand. This quickly gives rise to the thought: „It's always worth keeping.“ That may be true, but it's not a rule.
In St. Johannis, the decision depends particularly heavily on:
Condition of the flat and the house
House charges and reserves
Rentability and target group
Old building topics such as technology and energy
personal time horizon and risk
Those who only look at the location often overlook the cost and expense side.
The first step is always: realistically determine the market value
Before talking about „holding“, you need to know what a sale would actually bring. The market value is the realistic market value under normal conditions.
I determine the market value via:
Market analysis in St. Johannis 2025
Reference properties with real sales prices
Standard land value as location orientation
Depending on the property, asset value method or capitalised earnings value method
Without this value, any discussion of „sell or hold“ is just a feeling.
Standard land value: helpful, but not to be misused as a sales argument
The standard land value may be high in St. Johannis, but it does not answer the crucial questions:
What is the condition of the house?
What measures are pending?
How high is the reserve?
How much is the house rent?
How good is the floor plan?
Particularly in the case of older flats, a high standard land value can be accompanied by high future costs. This has to be weighed up honestly.
Holding usually means renting out or using it yourself
If you are not moving in yourself, „holding“ is practically synonymous with renting.
Then it counts:
How high is a sustainably achievable rent?
How high are the running costs?
What is the risk of tenant turnover or vacancy?
What are the long-term prospects for the building?
Many owners overestimate „hold“ because they only see the rent and not the overall picture.
Income capitalisation approach: if the flat is considered an investment
The income capitalisation approach is relevant for rented flats or clear investor logic. It considers not only the rent, but also the economic viability.
This is about:
Sustainably achievable rent
Costs and maintenance
Risks and expected returns
Condition and modernisation prospects
This is particularly important in St. Johannis, because although older buildings are in demand, investments in the house or flat often come sooner or later.
Material value method: if substance and condition are strongly characterised
The asset value method helps to understand the substance, especially when building issues such as the roof, façade or heating play a role. This is often the case with inherited flats because the history of the house is not always fully known.
The important thing is: I do not use methods in isolation, but combine them with market analyses and reference objects.
The decisive questions when weighing up sell or hold
What is the WEG situation?
Many leasehold flats stand or fall with the house as a whole. Buyers and tenants feel this indirectly, banks directly.
Important points:
House money
Reserves
Protocols and planned measures
Condition of roof, facade, heating
High running costs can make „holding“ unattractive, even in St. Johannis.
How much modernisation is needed in the flat?
You can rent out a flat that has not been modernised, yes. But at what price and with which target group?
Important topics:
Bathroom and kitchen
Electrics
Windows and sound insulation
Floors, doors, general condition
If major measures are necessary here, you should honestly calculate whether you want to do this as a landlord.
What is your time horizon?
Short-term money and peace of mind: selling is often the clearer solution.
Long-term asset accumulation and organisation possible: holding can fit.
The biggest mistake is to choose „hold“ without thinking about the next 3 to 5 years.
Incidental purchase costs: why sales prices are not just a wish
When you sell, you think: „What do I get?“ Buyers think: „What will it cost me in full?“
Incidental purchase costs such as land transfer tax, notary and land registry costs eat up part of the budget. The more modernisation is required, the less leeway there is. This has a direct impact on the achievable sales price and affordability.
Did you know: Many inherited flats are „held“ but never used strategically
I often see that heirs keep a flat, but then:
letting too cheaply because you don't have a clear strategy
Risk months of vacancy because you hesitate
Postpone necessary modernisation until it becomes expensive
have constant stress with administration and repairs
Holding is not a neutral decision. It is an active role as a landlord or user.
Step-by-step: How to reach a decision with owners in St. Johannis
- Determine market value: Market analysis, reference properties, standard land value, asset value method or income capitalisation method.
- Realistically categorise letting potential: sustainably achievable rent and costs.
- Check condition: Flat and house, including pending measures.
- Clarify goals: Liquidity, peace of mind, asset accumulation, time horizon.
- Evaluate risk: expense, change of tenant, maintenance.
- Make a decision: sell or hold, with a clear plan.
This structure prevents gut feeling decisions.
Conclusion: In St. Johannis, it's not just the location that counts, but the strategy
An inherited flat in St. Johannis may be worth keeping or may be suitable for sale. The decisive factor is a realistic basis based on market value, standard land value, market analysis and reference properties and, depending on use, the asset value method or income value method.
If you would like to sell your inherited flat in Nuremberg or need a clear assessment of whether holding in St. Johannis really makes sense, estate agents in Nuremberg will support you with a comprehensible valuation and a strategy that suits your life and the market.
