The Real Cost Of Foreign Property Ownership: Beyond The Purchase Price

Closing costs come first. From one market to another, the costs can include a buy property in fethiye transfer tax, notary fees, registry costs, the cost of legal advice and the agent's commission. As a working assumption, budget a meaningful percentage on top of the price, and confirm the exact rates locally.



Yearly taxes on the property follow. The rates differ from place to place, and some countries apply a separate rate for non-residents. Where a unit is left unused for much of the year, extra charges may apply.



Community fees catch buyers out. A flat in a development with a swimming pool, a lift and round-the-clock security generates monthly costs that keep coming whether you are there or not. Request recent accounts from the management company prior to purchase, and look for upcoming renovation projects.



Distance introduces a category of its own. Someone must hold keys villas for sale in downtown dubai leaks and repairs, receive letters and bills, and arrange routine maintenance. Professional management normally charges a monthly fee, and doing without it usually proves expensive in a different way.



Insurance, running costs and the cost of selling complete the budget. Capital gains tax often applies even to a non-resident owner, and the resident rate is not always the one that applies. A useful exercise means putting together a five-year running-cost estimate at the offer stage — the total generally lands above the initial estimate.