We say: Goodbye 2023 and Hello 2024! A number of new regulations, deadlines and laws are coming this year. In this article, you can find out what will change from 2024.
It remains an exception that real estate prices are falling. In Berlin, prices are only falling partially. Property prices are falling to some extent and so are interest rates on building loans. Two points in favor of buying a property. Investing in a condominium has several advantages. With a furnished apartment, you can rent out your condominium at a price that allows you to profit as a landlord. Berlin continues to have a very high housing shortage.
If interest rates fall this year, this means that there will be a new momentum in the real estate market. If you would like to sell your property, we advise you to consult with us about the right time. As long as your property is not sold, you can rent it out furnished. With furnished letting, your condominium can be rented out at the price you deserve. However, furnished rentals can be a lot of work. At Hope Apartments, we take the work off your hands because we are an all-around property manager. Not only do we manage your condo, but we also furnish and market it! You can sit back, relax and successfully rent out your condominium!
With immediate effect, the CO2 price will rise to 40 euros per ton. Heating with oil or gas will become correspondingly more expensive. This makes it all the more important to pay attention to your C02 consumption. In our blog entry Increased energy prices, we give you tips on how you can reduce your electricity consumption as a landlord.
From January 1, 2024, the Building Energy Act (GEG) will come into force for new construction areas. Gas and oil heating systems may only be operated until 2044. From now on, at least 65% of new heating systems must be powered by renewable energies, such as biogas, wood pellets or photovoltaics. This also applies to the replacement of existing heating systems.
Large cities such as Berlin, Munich, Frankfurt or Stuttgart must complete their local heat planning by mid-2026. All other localities by mid-2028. As a homeowner, you will find out whether your property will be connected to district heating, hydrogen services or no technology. Owners who have not yet had to change their heating system should wait for the heating concept to know what is worthwhile.
The Bundestag has extended the gas and electricity price brakes for three months. The extension is therefore valid until 31.03.2024. From April 2024, the fixed prices must be paid again.
VAT will increase from 7% to the original 19% from January 1, 2024.
Qualified rent indexes must be available from 01.01.2024. Simple rent indexes should already have been available in 2023. You can find more information on the rent index in our blog post “The rent index”. Do you have any further questions about rent indexes and rent increases? Feel free to contact us! We are experts when it comes to furnished lettings and make it possible for you as the owner to let your condominium at an unbeatable price.
The basic allowance for income tax will increase from 01.01.2024 from 10,908
Euros to 11,604 Euros. Rental income counts towards the tax-free allowance.
Since the pandemic, the deadline for filing income tax returns has been extended from July 31 to August 31. The extension also applies to 2023. However, as August 31, 2024 falls on a Saturday, September 2, 2024 is the deadline for submitting the income tax return for 2023.