NEWSWIRETODAY Press Release& Newswire Distribution | HOME
MOST TRUSTED NEWSWIRE PRESS RELEASE DISTRIBUTION
PRTODAY / NewswireToday press release distribution service network
Written by / Agency / Source: Global Property Guide
Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

High Housing Transaction Costs in Europe - Overseas residential property-buyers beware! When you buy in Europe, you can pay up to 25% of the purchase price in round-trip costs, i.e., legal and other fees
High Housing Transaction Costs in Europe

 

NewswireToday - /newswire/ - Makati City, Metro Manila, Philippines, 2007/04/27 - Overseas residential property-buyers beware! When you buy in Europe, you can pay up to 25% of the purchase price in round-trip costs, i.e., legal and other fees.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Real Estate / Property Management Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Punitively high round-trip transaction costs are incurred in Russia (25%), Bulgaria (24.9%), Italy (17%), France (16.3%), and Greece (15.5%) (i.e., the total cost of buying and selling a property, including all taxes and fees). Purchasers of new property often incur even higher costs, with additional VAT of 20% payable in some countries, according to a report released this week by the Global Property Guide.

Very high transaction costs in Europe
Residential investments in Europe incur punitively high roundtrip transaction costs in many countries, exceeding 15% in several cases. Purchasers of new properties often incur even higher costs.

In Russia and Bulgaria, transaction costs can reach around 25% of the property value for a typical transaction of a resale property. On the other hand, property buyers will be relieved to know that transaction costs are very low in Estonia, Slovakia and Lithuania, typically below 4%. Transaction costs in the UK are near the bottom of the scale at around 5%.

These are some of the findings of a landmark study of transaction costs in 37 countries in Europe, published this week by the Global Property Guide. As the study notes, previous research on European transaction costs covered very few countries, so an over-all picture was difficult to establish.

The study considers all transaction costs involved in the property sale-purchase process, including registration and notary fees, legal fees, real estate agents’ commissions, and sales and transfer taxes such as VAT.

To analyze transaction costs, the study looks at a ‘typical case’, adopting the assumptions that:

1. The property is purchased by an EU-national, not resident in the country where he/she is buying
2. Is worth €250,000
3. Is paid in cash
4. Is a condominium located in a major city
5. Was used by the seller as his principal residence for the past ten years

Interestingly, roundtrip transaction costs in countries with French legal systems are generally higher compared to other countries; these French legal origin countries include Monaco (19.7%), Belgium (17.9%), Italy (17%), France (16.3%), Luxembourg (15.7%) and Greece (15.5%). In several countries with French legal systems, the use of lawyers is mandatory, with fees set by law. Sales and transfer taxes are also more common in French legal system countries.

The study disputes earlier findings that southern Europe has Europe’s highest transaction costs. This impression was created by studies concentrating on selected southern countries with French legal systems.

Buyers of new residential property are in for a shock, because additional taxes are charged on newly constructed or renovated properties (which are often hidden in the sale price).

Monaco imposes 20.6% VAT (instead of 6.5% registration tax) on new properties, bringing total costs to 33.75%. In France, transaction costs for new properties are around 31%, because of the 19.6% VAT levied in lieu of registration fees.

Real estate agents’ fees are highest in Scandinavian countries. However, this is because the agent guides buyers throughout the property registration process. The use of lawyers in Scandinavia is common but not required.

The Global Property Guide is a research publication and website for the high net worth investor in residential property -- providing information about the process and benefits of buying property in any country in the entire world.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Real Estate / Property Management Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Global Property Guide

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick NewswireToday Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Real Estate / Property Management articles,
CATCH Visitors via Your Competitors Announcements!


High Housing Transaction Costs in Europe

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name NewswireToday and LINK as the source.
 
Publisher Contact: Matthew Montagu-Pollock 
+632 750 0560 info[.]globalpropertyguide.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Global Property Guide securities in any jurisdiction including any other companies listed or named in this release.

Real Estate / Property Management via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Global Property Guide / Company Profile


Read Real Estate / Property Management Most Recent Related Newswires:

NHE to Assume HOA Management of Five Additional South Carolina Communities
Armada Analytics, Inc. Relocating Headquarters, Expanding Operations in Greenville, South Carolina
Yardi Relaunches Popular CRE Marketplace CommercialSearch.com
SC's NHE Announces Construction Start for its first Affordable Housing Community in Charlotte NC
Six South Carolina Communities Turn to NHE Association Management
Affordable Housing for Seniors Expands in South Carolina as Renaissance Place from NHE Breaks Ground
South Carolina Property Management Group NHE Promotes Three, Adds Three to Accounting/Finance Team
NHE Adds Riverstone Community to Growing South Carolina Homeowners Association Portfolio
NHE Headquarters Building Named in Honor of Former Verdae CEO - AO-The Space Spa & Salon Relocating
NHE Relocates Corporate Headquarters to New Building At Legacy Square in Greenville, South Carolina
NHE Begins Leasing on Newly Completed Affordable Housing Apartment Community in South Carolina
NHE to Manage The Ironwood Community in North Augusta, South Carolina
NHE Adds Management of Four South Carolina Communities to its Homeowners Association Portfolio
Lollis Named Vice President of Finance at South Carolina-based Property Management Firm NHE
Yardi Showcasing New Innovation At 2019 Realcomm ׀ IBcon Conferences in Nashville, Tennessee

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  Limelon Advertising, Co.

Visit  RightITnow, Inc.





 
  ©2021 NewswireToday — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com newswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are proudly NOT affiliated with USA TODAY (usatoday.com)