A

Acceptance protocol

An acceptance report documents the condition of a property on handover or completion and serves as proof of defects or complaints.

Depreciation and amortization (AfA)

Depreciation for wear and tear (AfA) allows property owners to claim the loss in value of a property against tax.

Old building

Old buildings are buildings that were built before a certain construction period. They are often characterized by high ceilings, wooden floors and special architecture.

Cultivation

An extension is the structural expansion of an existing building, e.g. with a conservatory or additional living space.

Annuity loan

A loan in which the interest and repayment portions are paid in constant installments (annuities) over the entire term.

Follow-up financing

The follow-up financing follows on from an expiring mortgage in order to repay the remaining debt.

Share ownership

This refers to the co-ownership share in a property, for example in the case of a condominium in a residential complex.

Conveyance

The conveyance is the notarized declaration with which the change of ownership of a property becomes legally effective.

Prior notice of conveyance

An entry in the land register that secures the buyer's claim to transfer of ownership before the transfer of ownership has been completed.

Finishing house

A house that is only completed in shell form by the developer. The buyer is responsible for the interior fittings.

B

Balcony

A balcony is an open living area that protrudes from the building and often increases the residential value and property price.

Building permit

The building permit is the official permission to implement a building project in accordance with the applicable building law.

Subsoil expertise

A ground survey examines the ground conditions and provides important information for the safe planning and statics of buildings.

Building child benefit

A state subsidy in Germany that provides financial support for families purchasing residential property.

Construction costs

The total costs incurred in the construction or modernization of a property, including materials, wages and ancillary costs.

Urban land-use planning

Urban land-use planning comprises land-use and development plans and regulates how properties may be built on.

Building society contract

A financing model in which regular payments create a credit balance that later serves as equity for the purchase of real estate.

Development plan

A development plan determines how properties within a municipality may be built on and used.

Mortgage lending value

The mortgage lending value is the value of a property determined by the bank, which serves as collateral for a loan.

Standard land value

A value determined by expert committees that indicates how much a square meter of undeveloped land in a particular location is worth.

C

Carré

Term for a residential complex or an ensemble of buildings forming a rectangular or square courtyard development.

Brokerage fee

The brokerage fee is the broker's commission that is payable when a property is successfully brokered.

Co-Living

A modern living concept in which several people live together in private and shared spaces.

Cash flow

The cash flow indicates the actual cash flow from rental income and expenses and is important for the return on real estate.

Cluster apartment

A form of living in which small, private apartments are combined with communal areas such as the kitchen or living room.

Community building

A concept in modern residential complexes that promotes social interaction through communal areas and activities.

Core location

A very central and particularly sought-after real estate location in a city, usually with high value stability.

Corporate Real Estate

Refers to real estate that is used or managed by companies themselves, e.g. office buildings or production halls.

Crowdinvesting

An alternative form of financing in which many small investors jointly invest in real estate projects.

Curb Appeal

An English term that describes the visual attractiveness of a property from the outside - important for the first impression.

D

Attic apartment

An apartment on the top floor of a building, often with sloping ceilings, skylights and occasionally a roof terrace.

Roof terrace

An accessible, open terrace on the roof of a building that is considered a high-quality outdoor living space.

Loans

A loan granted by a bank or credit institution that is often used to finance real estate.

Listed building

A property that is a listed building and may only be converted or renovated to a limited extent.

Deposit contract

A contract between buyer, seller and bank in which the purchase price and transfer of ownership are secured via an escrow account.

Direct purchase

A real estate purchase without the intervention of an estate agent, where buyer and seller negotiate directly with each other.

Semi-detached house

A detached house that is directly connected on one side to a house of identical construction and shares a common roof.

Triple glazing

A modern window design with three panes of glass that offers particularly good thermal and sound insulation.

Instantaneous water heater

A water heating appliance that only heats the water when required and does not need a hot water tank.

Average rent

The average net cold rent paid per square meter in a specific area or building.

E

Condominium

An apartment in an apartment building that is owned by one person and secured by the land register.

Equity

The portion of the property purchase price that the buyer pays from his own funds without external financing.

Community of owners

All owners of a residential complex who jointly decide on the management and use of the common property.

Detached house

A residential building designed exclusively for one family, often with its own garden and parking space.

Energy certificate

An official document that shows the energy consumption or requirements of a property and is mandatory when selling or renting.

Leasehold

A right to develop and use a plot of land for a fixed period of time without being the owner of the land.

Leasehold

The contractual agreement to use a property in return for regular payment of ground rent without purchasing it.

Development costs

Costs incurred in the construction of water, wastewater, electricity and road connections for a property.

Exposé

A written or digital document that presents a property with all important data, pictures and floor plans.

Income capitalization approach

A method of real estate valuation that calculates the value according to the expected income, e.g. rental income.

F

Fixed-interest loan

A real estate loan with a fixed interest rate over an agreed term that offers planning security for financing.

Financing plan

A detailed list of all equity and borrowed funds as well as the monthly charges for the property purchase.

Parcel

An officially surveyed part of a property that is listed in the real estate register with its own number.

Parcel map

An official plan that shows all the parcels of land in an area and is important for proof of construction and ownership.

Land use plan

An official plan that specifies how a municipality's land may be used in the future, e.g. as residential or commercial space.

Debt capital

Funds provided by banks or lenders for real estate financing that must be repaid.

Underfloor heating

A type of heating in which heat is emitted via heating pipes laid in the floor and ensures pleasant room temperatures.

Maturity notice

A letter from the bank or notary specifying the date and amount of the payment of the property purchase price.

Exemption note

An entry in the land register that is made after a loan has been repaid in full and deletes the land charge.

Escape route

A prescribed, safe route that enables rapid and safe evacuation from a building in an emergency.

G

Garage

An enclosed space for the secure parking of vehicles, often with additional storage space.

Garden shed

A small outbuilding in the garden that is used as storage, workshop or recreation room.

Building value

The financial value of a building, which is determined separately from the land value and is required for insurance, for example.

Common property

All parts of a residential complex that are shared by all owners, such as stairwells or outdoor facilities.

Authorization requirement

The obligation to carry out certain construction or conversion work only after obtaining official approval.

Hand over cleared

A term used in purchase and rental contracts which means that the property is handed over without furniture or personal belongings.

Land register

An official register that documents ownership, encumbrances and rights to real estate.

Easement

A right entered in the land register that permits certain uses of a third-party property, e.g. a right of way.

Property tax

A municipal tax that owners have to pay annually for land and property.

Property valuation

The determination of the market value of a property, e.g. for sale, mortgage or tax purposes.

H

House money

The monthly advance payments of the condominium owners' association for operating costs, maintenance and administration.

Property management

A professional service that takes care of the organization, management and maintenance of a property.

Mortgage

A land charge or a lien on a property to secure a loan.

Heating bill

The annual billing of heating costs, which are allocated to tenants according to their consumption.

Heating requirement

The energy requirement of a building for heating, which is shown in the energy performance certificate.

Household contents insurance

An insurance policy that covers damage to movable property in the apartment or house.

Wooden windows

Wooden window frames, which are often considered particularly aesthetic due to their natural properties.

Liability insurance

An insurance policy that covers damage caused to third parties, for example in the event of accidents in the property.

House construction

The process of planning and building a single-family or multi-family house.

Domestic authority

The right of the owner or tenant to determine the use of and access to the property.

I

Real estate valuation

Determining the market value of a property, e.g. for sale, mortgage or tax purposes.

Real estate agent

An intermediary who brings buyers and sellers or tenants and landlords of real estate together.

Real estate loan

A loan that is used specifically to finance real estate.

Maintenance

Measures to maintain or restore the proper condition of a property.

Index-linked rent

A type of tenancy agreement in which the rent is linked to a price index, e.g. the consumer price index.

Investment costs

All costs incurred for the acquisition, construction or modernization of a property.

Infrastructure

The basic supply and connection of a location, such as roads, transportation and utilities.

Interior fittings

All work carried out inside a building to complete or modernize it.

Insulation

Materials and measures for heat, cold or sound insulation in buildings.

Real estate funds

An investment fund that invests money in real estate projects or portfolios.

J

Annual statement

The annual overview of all costs and income of a property, usually prepared by the property management company.

Annual rent

The amount of rent paid for a property within one year.

Joint venture

A partnership of companies for the joint implementation of a real estate project.

Art Nouveau

An architectural style from the late 19th and early 20th century known for its decorative, floral forms.

Annual interest

The interest rate charged annually on a loan or investment.

Turn of the century

The period around the year 1900, characterized by certain architectural styles and property types.

Young property

A newly built property or one that is only a few years old, usually with modern fittings.

Annual reserve

An amount that is set aside annually for maintenance or repairs to the property.

Youth protection regulations

Rules that may also apply to residential buildings, e.g. with regard to the use of common areas.

Joint-use

A concept in which real estate space is shared and used jointly by different users.

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K

Purchase contract

The legally binding contract between buyer and seller for the purchase of a property.

Security deposit

A security deposit that the tenant provides to the landlord at the start of the tenancy, usually as a deposit for damages.

KfW subsidy

Financial support from the Kreditanstalt für Wiederaufbau for energy-efficient construction and renovation.

Capital investment

The purchase of a property with the aim of generating a return, e.g. by renting it out.

Cellar

An underground part of the building that is used as a storage room, utility room or hobby room.

Daycare center (Kita)

A childcare facility that is often seen as a locational advantage for residential properties.

KfW Efficiency House

An energy-efficient building that meets certain efficiency standards and receives subsidies.

Credit installment

The amount to be paid regularly to repay and pay interest on a real estate loan.

Incidental purchase costs

Additional costs when buying a property, such as land transfer tax, notary and estate agent fees.

Notice period

The period of time that tenants or landlords must observe before a rental agreement can be terminated.

L

Site plan

A plan that shows the exact location of a property and the surrounding conditions.

Life annuity

An agreement under which the seller of a property receives regular annuity payments, usually for life.

Load exemption

The removal of encumbrances such as land charges from the land register, usually after a loan has been repaid.

Real estate cadastre

An official list of all properties and their boundaries in an area.

Listing

The inclusion of a property in a database or sales portal for marketing.

Luxury property

A high-quality property with special features and location, which is usually above the average price.

Loads

Rights or encumbrances on a property that may restrict its use.

Loft apartment

A large, open apartment with few partitions, often in converted factory buildings.

Agricultural area

Land intended primarily for agricultural use and subject to special regulations.

Vacancy

The state when a property or apartment is unused and without a tenant.

M

Brokerage fee

The commission that a real estate agent receives for the successful brokerage of a property.

Rental agreement

A contract that regulates the rights and obligations of the tenant and landlord.

Rent index

An overview of local rental prices, which serves as a guide for rental negotiations.

Loss of rent insurance

An insurance policy that protects landlords against payment defaults by tenants.

Rental income

The amount of money a landlord receives from renting out a property.

Modernization

Structural measures to improve the equipment or energy efficiency of a property.

Solid construction

A construction method in which the walls are made of solid materials such as bricks or concrete.

Rental deposit

A security deposit from the tenant that can be retained for damages or outstanding payments.

Market value

The price that can be achieved for a property on the open market.

Apartment building

A residential building containing several apartments for different households.

N

Incidental costs

Costs that are incurred in addition to the rent, such as water, refuse collection, heating or janitor services.

Notary

An independent lawyer who notarizes real estate purchase contracts and accompanies property transfers.

Notarization

The legal form required for real estate purchase contracts to become effective.

Neighbor law

Laws and regulations that clarify the relationship and rights between neighboring property owners.

Usable area

The area of a property that can actually be used, excluding circulation areas such as stairs or corridors.

Subordinated land charge

A land charge that is only entered in the land register subordinate to other claims.

New building

A newly constructed building that has not yet been used or occupied.

Net cold rent

The pure rent without additional costs for heating, water or garbage collection.

Evidence Act

A law that regulates the obligations of real estate agents when brokering.

Change of use

The official approval to change the use of a building, e.g. from commercial to residential.

O

Object description

A detailed description of a property that includes location, amenities and special features.

Open construction

A form of development in which buildings are free-standing or sufficiently spaced apart.

Open kitchen

A kitchen that is not separated from the living area by walls and creates an open living character.

On-site visit

An appointment on site to view or evaluate a property.

Upper floor

A floor of a building that is above the first floor.

Object address

The exact address of a property at which it can be reached.

Option

The contractual right to purchase a property within a certain period at a fixed price.

Open fireplace

A fireplace that is operated without glass or a door and often serves as a homely design element.

District

A defined area or district within a municipality.

Public funding

Financial support through government programs for the construction, purchase or renovation of real estate.

P

Lease agreement

A contract under which the leaseholder may use a plot of land or property in return for payment of a rent.

First floor apartment

An apartment on the first floor of a building, often with direct access to the garden or courtyard.

Penthouse

A luxurious apartment on the top floor of a building, often with a roof terrace and panoramic views.

Lien

A creditor's right to realize a property to secure his claim in the event of default.

Photovoltaic system

A solar system on a roof that converts solar energy into electricity and can contribute to value appreciation.

Plausibility check

The verification of data and documents of a property for logical and factual correctness.

Commission

The remuneration that a real estate agent or broker receives for their work.

Parquet flooring

A high-quality wooden floor that adds value to many residential properties.

Project development

The planning and realization of real estate projects from the selection of the plot to completion.

Care property

A property used for the care of elderly people or people in need of assistance, e.g. nursing homes.

Q

Square meter

The standard unit of measurement for the area of land and living space.

Price per square meter

The price per square meter of a property or plot of land used to determine its value.

Qualified rent index

A rent index that is recognized by the municipality and prepared using scientific methods.

Cross ventilation

A ventilation method in which opposite windows are opened to improve air exchange.

Proportional cost allocation

The allocation of operating costs according to fixed shares, e.g. according to co-ownership shares in a WEG.

R

Eviction

The complete emptying of a property, usually after termination or foreclosure.

Action for eviction

An action by the landlord to compel a tenant to vacate the property.

Real burden

A right entered in the land register that obliges the owner to make recurring payments.

Terraced house

A single-family house that is directly connected to other houses in a row and usually has small gardens.

Investment property

A property purchased primarily as an investment to generate ongoing income.

Residual debt

The remaining loan amount that has not yet been repaid after a certain term.

Topping-out ceremony

A traditional celebration when the shell of a house is completed and the roof truss is erected.

Reserve

Money that owners or communities of owners save for future repairs and maintenance.

Right of repurchase

The contractual right to repurchase a sold property under certain conditions.

Room height

The vertical distance between the floor and ceiling of a room, important for living quality and building regulations.

S

Refurbishment

Structural measures to restore and improve the structural condition of a property.

Special property

The part of a property that belongs to one owner alone, e.g. a condominium.

Graduated rent

A rental agreement in which the rent increases automatically at fixed intervals.

Asset value method

A method of real estate valuation based on the replacement value of the building.

Schufa information

A proof of creditworthiness that is often required when renting or financing a property.

Sound insulation

Structural measures and materials that reduce noise between rooms or from outside.

Pitch

A permanently assigned parking space for a vehicle on a property or in an underground parking garage.

Power connection

The technical connection of a building to the public electricity grid.

Net asset value

The value of a property, which is made up of the value of the land and the buildings.

Speculation tax

A tax that can be incurred on the sale of real estate within the speculation period.

T

Partial purchase

The sale of a share in a property while the owner can continue to live in it.

Declaration of division

A notarized document that regulates the division of a building into separate property and common property.

Repayment

The repayment of a real estate loan in regular installments over the term of the loan.

Repayment schedule

An overview that shows how loan debt, interest and repayments develop over time.

Underground car park

An underground garage that provides parking spaces for cars and is often part of residential complexes.

Staircase

The shared area of an apartment building that connects the apartments.

Eaves height

The height at which the roof of a building meets the outer wall, important for building regulations.

Partial sale

A form of sale in which the owner sells only a percentage of his property.

Technical building equipment (TGA)

All technical systems in a building such as heating, ventilation, sanitary and electrical installations.

Escrow account

An account through which payments for real estate purchases are securely managed, e.g. by a notary.

U

Debt rescheduling

Replacing an existing real estate loan with a new loan, usually to save interest.

Change of use

The change in the original use of a property, e.g. from commercial to residential.

Basement

The construction of a cellar under a building to create additional storage or living space.

Clearance certificate

Proof from the tax office that there are no real estate transfer tax debts and that the transfer of ownership may take place.

Maintenance

The ongoing care, maintenance and upkeep of a property to preserve its value.

Apportionable costs

Operating costs that a landlord may pass on to tenants in accordance with the Operating Costs Ordinance.

Subletting

The partial or complete subletting of a rented property to third parties.

Urbanization

The process in which rural areas become increasingly urbanized and more densely built-up.

U-value

A technical parameter that indicates how well components such as walls or windows are insulated.

Superstructure

If a building or part of a building unintentionally projects onto a neighboring property, special legal regulations apply.

V

Market value

The market value of a property, which reflects the achievable price under normal market conditions.

Right of first refusal

A contractual or legal right to acquire a property in priority under the terms of a contract of sale.

Auction

The sale of a property at auction, e.g. at a forced sale.

Administrator contract

The contract between a community of owners and a property manager for the management of the property.

Sum insured

The agreed maximum benefit that an insurance company will pay in the event of damage to a property.

Full floor

A floor of a building that is completely above ground level and is fully usable.

Reservation

An entry in the land register that secures the right to transfer ownership of a property.

Surveying

The exact determination of the location and size of a property by official surveyors.

Shoring

Structural safety measures for excavation pits or slopes in new buildings or renovations.

Administrator approval

The consent of the property manager, which is required in some communities of owners when selling an apartment.

W

Living space

The area of a property that can be used for living is calculated according to the Living Space Ordinance.

Residential property

Ownership of an individual apartment in an apartment building including a share in the common property.

Condominium owners' association (WEG)

The community of all owners of a residential complex that decides on the common property.

Certificate of eligibility for housing (WBS)

Proof that entitles you to move into a state-subsidized apartment.

Thermal insulation

Structural measures that reduce the heat loss of a building and lower heating costs.

Conservatory

A glazed extension to a building that serves as a light-flooded lounge.

Residential area

The qualitative assessment of a property's location, e.g. in terms of transport links, infrastructure and surroundings.

Right of residence

A right in rem to live in a property, even if it is sold.

Valuation report

An official appraisal by an expert to determine the value of the property.

Weekend house

A small property intended for leisure or weekend use.

X

Xenon lighting

High-quality lighting that is used in modern properties for outdoor or security lighting.

XPS insulation

Extruded polystyrene (XPS) as an insulating material, often used to insulate foundations and basement walls.

Xeriscaping

A form of garden design that is designed for minimal watering, often for properties in dry regions.

X-shaped floor plans

Rare building architecture in which the floor plan resembles an X in order to achieve optimum lighting and room layout.

X-glazing

Term for multi-glazed windows that offer particularly good thermal and sound insulation.

Y

Ytong

A brand name for aerated concrete blocks that are frequently used in modern building and residential construction.

Yield

A term from the investment sector that describes the return on a property in relation to the purchase price.

Yard

An open courtyard or garden area on a property, particularly common in townhouses.

Yoga room

A specially equipped room in modern residential complexes or luxury properties for sport and relaxation.

Y-axis in the construction plan

A designation in construction drawings that identifies the vertical or lateral alignment of components.

Z

Fixed interest rate

The period for which the interest rate on a real estate loan is fixed.

Forced sale

A court-ordered sale of a property to satisfy creditors.

Second home

An apartment that is used in addition to the main residence, e.g. as a vacation or company apartment.

Payment plan

A plan that regulates the due date and amount of payments for real estate financing.

Certificate

Proof, e.g. an energy certificate, which confirms certain characteristics of a property.

Condition

The structural and technical condition of a property, important for valuation and purchase decisions.

Secondary market

The market for the resale of real estate or real estate shares.

Brick construction

A construction method in which brickwork is used, very common in Germany.

Compound interest

The return on interest already earned, relevant for long-term financing.

Compulsory mortgage

A land charge ordered by the court to secure claims against the owner.