The Full Cost of Foreign Property Ownership: What the Listing Price Hides > 공지사항

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Closing costs come first. From one market to another, the costs typically include transfer tax or stamp duty, notarial charges, registration fees, lawyer's fees and the agent's commission. As a rough planning figure, set aside extra funds beyond the price itself, and verify the actual local figures.

Annual property taxes apply every year afterwards. Rates vary enormously, and a number of markets apply higher rates to non-residents. Where a unit is left unused most of the time, vacancy taxes can apply.

Community fees are easy to underestimate. A flat in a development with a pool, landscaping and a concierge carries regular fees that run on whether you are there or not. Request the last two or three years of accounts before you commit, and check on upcoming renovation projects.

Distance introduces its own cost line. A local manager needs to handle keys houses for sale in korcula emergencies, northern cyprus real estate accept mail and official notices, and supervise repairs. Property management usually takes a share of rental income, and doing without it often becomes expensive in a different way.

Insurance, running costs and the cost of selling round out the calculation. Capital gains tax can apply when a non-resident sells, sometimes at a different rate. A good discipline means putting together a five-year running-cost estimate at the offer stage — the result is usually higher than expected.