The Real 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 fees, registration fees, lawyer's fees and the agent's commission. As a rough planning figure, set aside a noticeable share above the purchase price, and confirm the exact rates locally.



Recurring property taxes follow. Rates vary substantially, and a number of markets apply different rates depending on residency. Where the property sits empty city view houses for sale in alanya much of the year, additional levies sometimes apply.



Building charges catch buyers out. A unit in a development with shared gardens, landscaping and a concierge generates regular fees that continue even when the flat is empty. Request the building's financial records before signing, and enquire about any planned major works.



Remote ownership introduces a category of its own. A local manager has to be available izola real estate for sale emergencies, accept mail and official notices, and organise repairs. Property management usually takes a monthly fee, and doing without it usually proves a false economy.



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