In a partial sale you hand over only part of your Munich property, usually up to 50 percent, and that share is paid out immediately. You keep using the whole property, secured by a usufruct right registered with first priority in the land register. For the share sold you pay a monthly usage fee. We tell you plainly when this pays off and when it does not.
AI generatedAsking prices in Munich are around 10,450 €/sqm for condominiums and 9,850 €/sqm for houses (as of 2024, source: Immobilienmakler München Starnberg). The market value determines the size of the share sold, and the amount paid out determines the ongoing usage fee. The two are directly linked: the more you have paid out, the higher the monthly burden. Figures for your location can be found in the Munich market overview.
Condominium in Munich, market value 850,000 €. Forty percent is sold, that is 340,000 €. At a usage fee of 5 percent per year you pay around 1,417 € per month for it, roughly 170,000 € over ten years. If the property is later sold for 900,000 €, an exit fee of about 5.5 percent applies on top, around 49,500 €.
For comparison: a usufruct sale of the same apartment yields about 466,000 € with no ongoing payment. Owners who do not want a monthly burden, or who plan to stay longer than ten years, are often better off that way.
Non-binding estimate. Terms, fees and index clauses differ by provider, location and condition of the property.
Six typical scenarios show which questions matter most when considering a partial sale.
A 72-year-old owner wants to renovate her bathroom and kitchen without selling the entire apartment. The comparison shows how a 30 percent partial sale affects the payout, monthly usage fee and her remaining share.
Key point: calculate the usage fee and repurchase price over the long term.
A couple plans to support their children early. Instead of considering only the immediate payout, they compare the ongoing charge, possible fee adjustments and the consequences of a later full sale.
Key point: involve the family before signing the contract.
An owner needs only a limited amount and wants to remain flexible. Calculations over several periods show when the usage fee begins to outweigh the benefit of selling a smaller share.
Key point: compare total costs, not only the payout.
A couple wants to end their remaining financing while staying in the house. The analysis determines which share covers the outstanding debt and how high the permanent usage fee would then be.
Key point: calculate the repayment amount, transaction costs and ongoing fee together.
An owner needs capital at short notice. Her daughter may want to buy back the sold share later, so the repurchase terms, valuation date and possible appreciation are examined in advance.
Key point: agree the repurchase right with a transparent pricing formula.
A single owner wants to create a reserve for day-to-day support. Several sale percentages show how much capital becomes available and which monthly charge remains affordable if costs rise.
Key point: include an adequate buffer for fee adjustments.
Illustrative, anonymised case scenarios. They are provided for guidance and are not customer reviews.
About the author
This content is the responsibility of Michael Freitag, founder of FREITAG® Immobilien GmbH, based in the Munich & Starnberg region. The sample calculations on this page are simplified and do not replace an individual valuation or tax and legal advice.
Legal basis & sources
Managing Director of FREITAG® Beteiligungsgesellschaft mbH
Every consultation starts with sober figures, not with a promise: what is your property worth, what is your right to stay worth, what is left for you? Gerhard Hahn has been holding these conversations personally for more than three decades — no call centre, no changing contacts.
