Transparency
How JOKO 19 pays off
Step by step: from acquisition costs to your monthly surplus. All figures based on apartment 01 (€320,000, 40 m²) and a gross annual income of €65,000.
Acquisition costs
Around 8% purchase costs (transfer tax, notary, land registry) are added to the purchase price.
= €345,600 acquisition costs
Depreciation base: the building share
Only the building is depreciated, not the land. We assume a building share of 80% of the acquisition costs.
= €276,480 depreciation base
5% declining-balance depreciation (§ 7 (5a) EStG)
Each year, 5% of the remaining value can be depreciated – €13,824 in year one, slightly decreasing afterwards. Requirement: construction start between 10/2023 and 9/2029 – fulfilled at JOKO 19.
The taxable result
Rental income is taxable – offset by interest, depreciation and administration as income-related expenses. In the first years the result is clearly negative and lowers your taxable income.
Your tax advantage
The negative result is offset at your marginal tax rate according to the official tariff (§ 32a EStG). At €65,000 gross this is 37.4%.
− €11,424 × 37.4% = €4,273 tax saving per year — €356 per month
Your monthly cash flow
Now everything comes together: the bank instalment (3% interest + 1.5% repayment, blended rate incl. KfW loan) versus rent and tax saving.
The assumptions at a glance
- 8% purchase costs, 100% financing of the purchase price
- 3% interest + 1.5% repayment (blended rate incl. KfW loan), real amortisation schedule
- Building share of 80% of acquisition costs, 5% declining-balance depreciation without § 7b special depreciation (no QNG certification)
- Rent €25.50/m² net, constant · €0.50/m²/month non-recoverable administration
- Marginal tax rate per the official tariff § 32a EStG (2026); taxable income simplified as 85% of gross minus the employee allowance
Non-binding example calculation, not tax or investment advice. Your actual figures depend on your individual situation – please verify with your tax advisor and bank.
Run the numbers for your preferred apartment
Each of the 26 apartments has its own page with an interactive calculator.