The Real Cost Of Owning Property Abroad: Taxes, Fees And Maintenance

Transaction costs arrive first. From one market to another, these typically include transfer tax or stamp duty, notary fees, registry costs, lawyer's fees and agency commission. As a working assumption, set aside extra funds beyond the price itself, and verify the actual local figures.



Yearly taxes on the property follow. Assessment methods vary from place to place, and a number of markets levy higher rates to non-residents. Where the property sits empty for much of the year, extra charges sometimes apply.



Building charges are often overlooked. A unit in a development with shared gardens, landscaping and shared parking comes with regular fees that run on even when the flat is empty. Request the last two or three years of accounts before you commit, and enquire about any planned major works.



Distance adds a category of its own. A local manager must hold keys for emergencies, receive letters and bills, and organise routine maintenance. A management company usually takes a monthly fee, and managing remotely alone usually proves expensive real estate in ajman uae a different way.



Insurance, running costs and the cost of selling complete the picture. The tax due on a future sale may apply when a non-resident sells, land for sale greece sometimes at a different rate. A sensible test is to build a five-year running-cost estimate before you commit — the total tends to exceed what the buyer imagined.