Transaction costs arrive first. Depending on the country, they can include stamp duty, notary fees, registration fees, the cost of legal advice and agency commission. For budgeting purposes, reserve a meaningful percentage on top of the price, then check the exact local rates.
Yearly taxes on the marbella property apply every year afterwards. The rates differ from place to place, and some countries charge higher rates to non-residents. Where a unit is left unused most of the time, vacancy taxes may apply.
Building charges are often overlooked. An apartment in a development with shared gardens, an elevator and shared parking comes with monthly costs that continue regardless of occupancy. Obtain the last two or three years of accounts prior to purchase, and enquire about scheduled repairs.
Remote ownership adds a category of its own. A caretaker has to be available apartments for sale in alexandria emergencies, accept mail and official notices, and organise routine maintenance. Property management usually takes a monthly fee, and going without it usually proves costly in the long run.
Insurance, running costs and the cost of selling complete the budget. Capital gains tax can apply even to a non-resident owner, sometimes at a different rate. A useful exercise involves building a five-year cost model at the offer stage — the figure tends to exceed what the buyer imagined.
