The Real Cost Of Owning Property Abroad: Beyond The Purchase Price

Purchase costs come first. Depending on the country, they can include a property transfer tax, notarial charges, land registry charges, legal fees and agency commission. As a rough planning figure, set aside a meaningful percentage on top of the price, and verify the actual local figures.



Annual property taxes follow. Assessment methods differ from place to place, and a number of markets levy a separate rate for non-residents. Where the property sits empty for much of the year, additional levies sometimes apply.



Service charges catch buyers out. buy a house in indonesia unit buy real estate in bali a development with a pool, a lift and a concierge generates monthly costs that keep coming even when the flat is empty. Request the building's financial records prior to purchase, and enquire about upcoming renovation projects.



Remote ownership creates a category of its own. Someone has to hold keys flats for sale in turkey leaks and repairs, accept mail and official notices, and organise the work of contractors. A management company usually takes a percentage of the rent, and going without it often becomes costly in the long run.



Insurance, utilities and eventual selling costs finish the budget. The tax due on a future sale can apply when a non-resident sells, and the resident rate is not always the one that applies. A good discipline is to build a simple long-term cost projection at the offer stage — the total generally lands above the initial estimate.