The Full Cost Of Owning Property Abroad: Beyond The Purchase Price

Purchase costs come first. Depending on the country, the costs can include a property transfer tax, notary costs, land registry charges, lawyer's fees and agency commission. For budgeting purposes, budget a meaningful percentage on top of the price, and confirm the exact rates locally.



Recurring rouen property taxes follow. The rates vary enormously, and certain jurisdictions apply higher rates to non-residents. Where the property sits empty for long periods, extra charges can apply.



Service charges are often overlooked. An apartment in a complex with a swimming pool, buy property in gonyeli an elevator and shared parking generates regular fees that run on even when the flat is empty. Obtain the last two or three years of accounts before signing, and check on any planned major works.



Being far away adds its own cost line. A local manager has to handle keys apartments for sale in adeje leaks and repairs, receive mail and official notices, and arrange repairs. Professional management typically charges a monthly fee, karaoglanoglu real estate and managing remotely alone tends to become costly in the long run.



Insurance, running costs and the cost of selling complete the budget. The tax due on a future sale often applies to non-resident sellers, and the resident rate is not always the one that applies. A useful exercise means putting together a five-year running-cost estimate before you commit — the result tends to exceed what the buyer imagined.