The True Cost Of Foreign Property Ownership: Taxes, Fees And Maintenance

Purchase costs come first. Across different markets, these can include a buy property in bangkok transfer tax, notary costs, registration fees, legal fees and the agent's commission. As a working assumption, reserve extra funds beyond the price itself, and confirm the exact rates locally.



Yearly taxes on the property apply every year afterwards. Assessment methods vary from place to place, and a number of markets apply a separate rate houses for sale moraira non-residents. Where a unit is left unused most of the time, additional levies can apply.



Service charges are often overlooked. An apartment in a development with shared gardens, an elevator and a concierge generates monthly costs that keep coming even when the flat is empty. Obtain recent accounts from the management company prior to purchase, and enquire about upcoming renovation projects.



Distance introduces its own cost line. A local manager needs to handle keys belgrade real estate for sale emergencies, accept correspondence from the authorities, and arrange repairs. Professional management normally charges a percentage of the rent, and doing without it often becomes a false economy.



Insurance, running costs and the cost of selling round out the picture. Capital gains tax may apply even to a non-resident owner, and the resident rate is not always the one that applies. A good discipline means putting together a simple long-term cost projection before you commit — the figure is usually higher than expected.