Financing listed buildings
The most tax-attractive investment in Germany — 100% depreciation on the refurbishment share over 12 years, combinable with KfW 261. But: not every bank can do this. I know the specialist banks.
§7i EStG at a glance
Why financing a listed building requires specialist knowledge
Listed buildings are one of the most tax-attractive investments in Germany — but not every bank finances them. The reason: the valuation is more complicated (splitting purchase price/refurbishment), the payout is in tranches, and at the time of application the refurbishment exists only as a plan.
I work with banks that have listed-building financing as a standard — not as an exception. That makes the terms considerably better and the process smoother.
What makes a listed-building financing special
- Splitting purchase price/refurbishment: the bank values both separately; the refurbishment share requires developer-compliant documentation
- Tranche payout: the bank loan is paid out in parallel with the refurbishment progress — not in one sum
- Lending value after completion: banks often calculate with the completion value, not just the acquisition cost
- KfW combination: §7i + KfW 261 (energy refurbishment) combinable — up to €150,000 KfW plus a bank loan
- Developer credit standing: the bank also checks the refurbishment developer
Listed-building hotspots in Germany
Leipzig, Dresden
The largest listed-building market. Period stock with a 60–80% refurbishment share. Combinable with SAB funding.
Cologne, Düsseldorf
Up to 90% refurbishment share for high-value properties. NRW.BANK combinable.
Wiesbaden, Frankfurt area
Period and Art-Nouveau buildings. Typically a 68% refurbishment share. WIBank Hessen combinable.
Nuremberg, Munich
The lowest transfer tax (3.5%). Nuremberg: 60–80% refurbishment share. LfA Bayern combinable.
Prenzlauer Berg, Charlottenburg
High-value listed stock. Budget for 6% transfer tax. IBB funding combinable.
Halle, Magdeburg
Low purchase prices, an attractive assessment base. IB Sachsen-Anhalt combinable.
How a listed-building financing is built
Find the property
Check the purchase-price split (old-build share / refurbishment), developer credit standing, and the listed-building certificate.
Select the bank
Filter from 500+ banks down to listed-building specialists. Terms, tranche model, payout logic.
Combine KfW
Apply for KfW 261 energy refurbishment (before the purchase contract!). Repayment subsidy up to €67,500.
Refurbishment + final acceptance
Tranche payout in parallel with build progress. The listed-building certificate is a prerequisite for the depreciation.
Frequently asked questions
Exactly how high is the listed-building depreciation?
What is the difference between §7i and §7h?
Can I combine listed-building and KfW?
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