Rubric “Buying real estate at sea or abroad”
Category: Buying a property at sea or abroad.
Acquisition of real estate has always been a profitable way of investing money, because such property can be used for a long time, rented out to other people or profitable to sell. Therefore, real estate brings both moral satisfaction and material benefits.
Many Russians are limited to buying housing in Russia, and some are making a decision to buy property abroad. This decision is made by different motives, but several reasons are the most common. What are these reasons and how profitable is it to buy housing abroad?
The reasons for the popularity of foreign real estate acquisition.
If at the end of the last century, the availability of real estate abroad was something out of the ordinary, in recent years many residents of the Russian Federation have become interested in such property.
The main reasons for buying property abroad:
The desire to have a place to relax in another country – with a more favorable climate and colorful scenery. This reason is the most popular. Houses or small apartments are often purchased in cities where there is sea and beaches. The owner can at any time arrange a vacation and come to his own foreign country house. Caring for children. Lately many parents want to give their children the best education. To do this, and bought real estate abroad – and the child and parents will be able to live there while studying. Obtaining a residence permit. Legislation of many countries is quite tough in matters of citizenship. The availability of real estate in the country often becomes an important advantage for people who want to move into it live. Maintaining the status. This reason applies to wealthy people who are widely known to the public – actors, singers, TV presenters, etc. The availability of real estate abroad is very fashionable and status, such property speaks of the stable financial position of the owner. Aspiration to get profit. Most often this advantage is realized when renting a house. However, one should be careful here – the legislation of some countries (especially taxation) is designed in such a way that the deductions from the income received from rent will be very large. Therefore, special profit in this case is not expected.
These are the most frequent reasons and motivations that guide citizens when buying a home abroad. How profitable and correct this solution is is a question that does not have an unambiguous answer.
The countries with the greatest demand for real estate on the part of Russians.
Of course, not all countries have an attractive real estate market and tempting conditions for Russians. Based on the conducted statistical studies, the most popular countries are annually allocated for the purchase of housing. In 2014 it was:
Bulgaria – for several years this country has been in the lead among Russian real estate buyers. The main advantages: affordable prices, not very big differences in culture and the possibility of beach holidays. Spain – in terms of the number of transactions is immediately behind Bulgaria. The reasons for the acquisition of real estate in the country are similar to the previous case: a favorable climate and affordable prices. Germany – this country attracts people who purchase real estate not for recreation, but for profit. Apartments rent out and receive from them a stable annual income. Spain, Turkey, Greece and Montenegro – are immediately following the top three leaders and are popular both with lovers of recreation on the beach, and with investors. Housing in such countries can always be sold, because the demand for real estate in resort towns practically does not fall. Czech Republic, France and Finland – close the top ten leaders. These countries are in demand due to the excellent climate, the availability of educational opportunities and historical significance.
As for the affordability of prices in the countries in question, it is worth noting that even in large European cities the cost of housing is not much higher than in Moscow.
And in the resort countries like Bulgaria, Spain or Turkey you can buy an apartment cheaper than on the outskirts of Moscow or in the Moscow region.
What you need to know when buying property abroad and at sea.
Sea, sun and investment: how to buy an apartment in Bulgaria.
Apartment in Bulgaria is simultaneously a personal tourist residence on the Black Sea coast, and a profitable investment. After all, real estate prices in this region are growing at an incredible rate.
Apartment in Turkey on the beach: more real than it seems.
After the release in 2012 of a new law on the sale of real estate to foreigners, a construction boom started in Turkey. And despite the price increase, the pace of construction is not going down. This shows the high profitability of such investments.
Who is available for housing in the Krasnodar Territory.
To change the noisy capital to a more comfortable place of living near the sea, for example, in Sochi, is the dream of many. How much is housing now in the Krasnodar Territory and to whom is it available?
An apartment in Thailand is a dream come true or a way to earn it.
The dream of many is to live in the land of eternal sun, next to the sea and palm trees. This is easy to implement – you can buy an apartment in Thailand and at any time admire the amazing views and nature.
Advantages and disadvantages of buying property abroad.
Buying a property is quite an expensive acquisition, so before entering into a transaction, you need to consider all its aspects.
Possibility of obtaining a residence permit and moving to a country where a person has a home. Having your own apartment or house near the sea, place of study or work. The prospect of generating income from renting an apartment or its future sale at a higher price. Simplified procedure for obtaining a visa to enter the country.
Cultural differences of another country. Inability to guarantee the security and inviolability of housing, being at a remote distance from it. Legislative features that the buyer may not know. The presence of additional costs (payment for notary services, agent, payment of taxes, utility payments).
In order not to lose the money invested and not to face the need to pay fines or incur other expenses, it is necessary to find out as much as possible the legislative rules and national peculiarities of a concrete state before buying a property.
After making a decision to buy housing abroad, a number of formal procedures have to be taken: negotiation with the seller, processing of documents and payment of real estate. The last operation requires attention, because housing is worth a lot. Acceptable payment methods are:
Bank transfer. For this, an account is drawn up in a foreign bank, to which the required amount is transferred. In this case, you must necessarily notify the tax and provide documents about the transaction for which money is required (for example, a contract of sale). Removal of cash – in this case there is a limit on the amount (not more than 10 thousand dollars). Removal of money that is on a credit card – this method is also limited by the limits of daily withdrawals from the account. Removal of traveler’s checks is a convenient way, which has no restrictions on the amount and is not subject to currency control. Money transfer through special systems (Western Union and similar services). Opening an account in this case is not required, but the money can be transferred only to individuals and not more than $ 5,000 at a time. Also, there is no pleasure in having a high transfer commission.
Each of the ways has its drawbacks, which are associated with the need to incur additional costs – to pay taxes or commissions.
Limit the transaction and restrictions on the amount of transfer or withdrawal, established for certain methods.
Assistance agencies and the cost of their services.
Appeal to real estate agencies – this is a sure way to protect yourself when buying any property, including foreign.
Specialists will help not only to choose the right variant of an apartment or a house, but also will explain all the nuances of the transaction and help with the preparation of documents. It is advisable to contact a large and solid company that has experience in the market and cooperates with many countries.
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More information about housing for orphans you will learn in our material on http://zakonometr.ru/arenda/fond/sluzhebnaya-kvartira.html link.
The cost of services for real estate agencies is set in relation to the value of the transaction (that is, the price of the acquired housing) as a percentage. The value of this indicator varies from 0.5 to 15% – it all depends on the country and the object purchased. In any case, when planning the budget for the purchase of real estate, it is necessary to envisage another 10-20% for the payment of additional expenses.
Possession of foreign real estate at first glance seems a tempting prospect, so many Russians dream of such property. However, in reality there can be a lot of problems – from the need to bear the high costs of housing to the risk of robbing an empty apartment or house.