I recently read an article which indicated that transaction costs for US property average between 9 and 10%. This seems staggeringly high to someone like me who is more used to costs around 2%.
The seller has to pay the majority of the US transaction costs and the largest part by far is the Real Estate Broker fee which is typically 6%.
Similar costs in Northern Europe are between 1.5 and 3%. Other overall costs are pretty comparable and consist mostly of taxes and legal fees.
Here is an interesting thing I realized recently as a result of living in the US. In the US property depreciates. As a result you can write off the cost of the depreciation against rental income (typically over 27.5 years).
This deduction is not possible for those living in Europe. Why the difference?
Is it because of differing building standards. Generally more buildings are timber frame in the US verses block build in Europe thereby affecting their lifespan? Continue reading Property Depreciation and why Europeans have never heard much about it!
I was reading an article recently which reviewed a recently published S&P report. It indicated that 3 countries are set to led the price growth in property: Ireland, Portugal, and the Netherlands.
It appears the price growth in these countries is as a result of a shortage in supply.
The report predicts that the top 3 countries will continue to see growth in property prices until at least 2020. For the coming year it predicts growth of 8.5% in both Portugal and Ireland with the Netherlands close behind. Continue reading An Overview of Expected Property Price Growth in Europe
It appears most countries across Europe now have a scheme whereby you can rent a room in your house and the income earned is tax-free up to a threshold.
This is certainly something worth considering as many countries charge a crippling tax rate for rental income or for many people the extra income pushes them in a higher income tax rate. Effectively this means they may be paying back almost half the extra income in tax. Continue reading Rent a room to earn income and save tax
If you think you will never be able to put together enough money to get on the property ladder …think again.
It normally takes a few years saving up for a deposit and than to be able to demonstrate you have the ability to meet your monthly payments on a mortgage.
Continue reading You need as little as £20k to get on the property ladder
Thousands of users are visiting our website every week to seek out new free property listings. It seems properties prices are again increasing right across Europe.
Listproperty4free.com helps the real estate market by providing free services for buyers and sellers. Continue reading They sell like hotcakes. Free property listings
I recently read an article published on The Telegraph website which reviewed the world’s top 20 places to invest in property abroad (http://www.telegraph.co.uk/property/abroad/worlds-20-best-places-to-invest-in-property/).
The article is over two years old now (written in January 2014) and I was Continue reading Buying property in Spain and Portugal: What a difference 2 years can make!
There are a number of possibilities to obtain European citizenship.
One of them is citizenship by descent, known as jus sanguinis.
If you are able to demonstrate that you have ancestors from Europe, in many cases you can be entitled to citizenship. Continue reading How to get European citizenship
Here you can see all cheap properties in Europe on a map. That makes it easy to locate the hotspots for cheap property in Europe. The question is: How much is cheap? Continue reading Where are the cheapest houses in Europe? Find cheap properties in Europe