Ten years on a 77 m² apartment in Wiesbaden, nothing down.

The deal

What was bought, and on what terms

Wiesbaden, 77 m², built 2026. Bought for 535.500 €, financed 108 % at 4,5 % fixed 10 y, against a 120.000 € income.

Rent 26 € / m²·Repayment 1 %·AfA 5 % degressive·Sonder-AfA §7b 5 %, first 4 years·Appreciation 3 %·Income growth 2 %·Own capital 0 €

The loan covers the purchase price and the purchase costs, so nothing was paid at closing: 6 % transfer tax, 1,5 % notary and land registry, 0,5 % financing costs are all financed. Hessen, joint filing.

Worst month before tax benefits

−692 €

In 2027, narrowing every year as rent rises

After tax benefits, first full year

+681 € / month

The apartment carries itself from year one

Total wealth if sold in 2036

232.285 €

No own capital in: the loan covered the price and the purchase costs

Projection from the assumptions above. Rent is indexed 2 % a year, the household income grows 2 % a year, and the apartment is sold after the 10-year holding period, so the gain is tax-free. The §7b Sonder-AfA runs for the first four years only, which is why the tax benefit drops from about 15.000 € a year to about 6.000 € in 2030, and the month after tax benefits turns slightly negative with it.