In Germany, project developer P&P Group has successfully completed another sales phase of the more than 300 freehold flats on the Lagarde Campus in the Bavarian city of Bamberg. Almost half of all units have now been sold. High demand is also expected for this next sales phase. This is because the site has a special feature that can bring a tax advantage for purchasers - it is located in a redevelopment area. The reason for this is that some of the new apartments will be built on the former US barracks on the Lagarde Campus, which was home to thousands of American soldiers and their families for around 70 years. A special tax write-off for buildings can be granted for the necessary renovation work in accordance with sections 7h and 10f of the German Income Tax Act. "The special thing about this is that not only investors but also owner-occupiers can benefit from this form of depreciation," explains Christoph Langfritz, CIO of the P&P Group: "This is a unique feature of German tax law."
Both singles and families can benefit from the tax relief. This is because the P&P Group builds a wide range of flat sizes, from one-bedroom flats with 21 square metres to spacious family accommodation with four rooms and 97 square metres. On the Lagarde Campus, a pioneering neighbourhood is being created that will serve as a model for the whole of Germany: a mix of housing, services, government offices, medical care and culture. The new neighbourhood is also exemplary in terms of both energy and mobility. Up to 80 per cent of the energy required is generated directly in the district through a combination of geothermal energy, wastewater utilisation, heat pumps, photovoltaic systems, combined heat and power plants and advanced storage management. Centrally planned multi-storey car parks and traffic-calmed zones are also particularly progressive. The fact that pedestrians can keep to themselves in many areas and at certain times means a high quality of life for future residents. The neighbourhood also focuses on bicycle preference and the progressive sharing of e-mobility, including e-scooters and e-cargo bikes.
Both singles and families can benefit from the tax relief. This is because the P&P Group builds a wide range of flat sizes, from one-bedroom flats with 21 square metres to spacious family accommodation with four rooms and 97 square metres. On the Lagarde Campus, a pioneering neighbourhood is being created that will serve as a model for the whole of Germany: a mix of housing, services, government offices, medical care and culture. The new neighbourhood is also exemplary in terms of both energy and mobility. Up to 80 per cent of the energy required is generated directly in the district through a combination of geothermal energy, wastewater utilisation, heat pumps, photovoltaic systems, combined heat and power plants and advanced storage management. Centrally planned multi-storey car parks and traffic-calmed zones are also particularly progressive. The fact that pedestrians can keep to themselves in many areas and at certain times means a high quality of life for future residents. The neighbourhood also focuses on bicycle preference and the progressive sharing of e-mobility, including e-scooters and e-cargo bikes.
