WELT had a piece today....talking over a new German law.
Apparently, the fed guys have gone to create a 'watch-device' to view home/condo purchases across the nation. Ultimate purpose? Well....there will be a national database of listed home/condo transfers...from who to who, and with the money transferred as part of the listing.
It is in some way....an effort to close down money-laundering, and the use of property in this 'gimmick'.
A second accompanying law? This one adds the forbidden nature of making a home purchase, with cash or jewelry or some 'of-value' item (like cars or antiques).
Was there a lot of this going on? No one speaks to history, but the hint that maybe folks weren't seeing the big landscape.
Last year, via HR (public TV for Hessen), they had a news piece about apartment buildings in Frankfurt which were sold, and occupants weeded-out (the buildings became empty). Just a couple? No....upwards to thirty apartment buildings in the city of Frankfurt. So two guys who noted all of this....went to the city and asked who made the deals. Oddly, they ran back to one single individual....with no name or nationality mentioned. Buying a property, but no leasing any of the apartments out? It's just a weird strategy....even I will admit that.
The end of German property sales as a money-laundering gimmick? I would suggest that....but this apparently only revolves around homes or condos.....no one mentioned property....so I'm kinda wondering if they left that out intentionally, or if it's there in the fine-print.
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