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

Purchase costs arrive first. From one market to another, the costs can include stamp duty, notary costs, land registry charges, lawyer's fees and agency commission. As a rough planning figure, budget a noticeable share above the purchase price, and confirm the exact rates locally.



Recurring property taxes follow. The rates vary from place to place, and a number of markets charge higher rates to non-residents. Where the buy property in kuta sits empty for much of the year, additional levies sometimes apply.



Service charges are easy to underestimate. A unit in a managed building with a swimming pool, a lift and a concierge generates regular fees that keep coming regardless of occupancy. Obtain the last two or three years of accounts before you commit, and check on scheduled repairs.



Distance adds costs that local owners never see. A caretaker must be available for leaks and repairs, deal with mail and official notices, and organise the work of contractors. buy property in central greece and the peloponnese management usually takes a percentage of the rent, and doing without it tends to become costly in the long run.



Insurance, utilities and eventual selling costs round out the calculation. Tax on the sale can apply even to a non-resident owner, and the resident rate is not always the one that applies. A good discipline involves building a five-year running-cost estimate before you commit — the figure is usually higher than expected.