Real Estate Investment Trusts in Germany
Bulletin for International Taxation, pp. 320-329, June 2010
11 Pages Posted: 26 Jul 2010 Last revised: 8 Apr 2015
Date Written: June 1, 2010
In this third in a series of four articles, the authors examine the German Real Estate Investment Trust (REIT) regime. Previous articles dealt with REITs in the United States and the United Kingdom. A subsequent and final article concludes with a comparison of the three regimes. This article explores the implementation and use of the REIT regime in Germany. National REIT regimes provide incentives for indirect investment in real estate by giving certain entities preferential tax treatment. Germany was a relative latecomer to the REIT regime. The article assesses the German experience since 2007. REIT legislation has been considered a positive and necessary step for Germany as a major real estate and financial market, however, there were challenges as a result of the financial crisis of 2008-2009.
Keywords: Property Investment, Tax Advantages, Real Estate Investment Trust Regimes
JEL Classification: K34, K33
Suggested Citation: Suggested Citation