The term conversion (also re-purposing or change of use) in city planning describes the reintegration of fallow land into the economic and natural cycle or the change of use of buildings. Above all, objects and buildings that have been previously used militarily in the form of barracks, are converted into residential complexes. Similar to landmark properties, the reconstruction costs are amortized to 100% within the next 12 years. This is regulated in EStG according to §7h. Furthermore, very favorable loans are often possible since the initiator and real estate developer can construct and reconstruct in a way that allows them to obtain the KFW loans fully in the funding process. The reconstruction costs can turn out quite high since generous and neat rehabilitation is possible here, without having to preserve certain old building matter as it is the case with landmark properties.
For you, this means that you can purchase a real estate as a financial investment with very high tax benefits and very favorable loans. In Good urban locations, accretion of your property is possible! Here, living space has been created that is highly requested by city planning!