Purchase costs come first. Across different markets, these typically include stamp duty, notarial charges, land registry charges, lawyer’s fees and agency commission. As a rough planning figure, reserve a noticeable share above the purchase price, niksic property prices and confirm the exact rates locally.

Annual property taxes apply every year afterwards. The rates differ enormously, and certain jurisdictions levy different rates depending on residency. Where a unit is left unused most of the time, additional levies may apply.

Service charges are often overlooked. A unit in a complex with shared gardens, an elevator and shared parking generates monthly costs that continue whether you are there or not. Ask for recent accounts from the management company before signing, and check on scheduled repairs.

Distance adds a category of its own. A caretaker must hold keys for maintenance visits, deal with correspondence from the authorities, and arrange the work of contractors. A management company normally charges buy a penthouse in greece share of rental income, and managing remotely alone usually proves costly in the long run.

Insurance, utilities and eventual selling costs round out the picture. The tax due on a future sale can apply even to a non-resident owner, occasionally at a higher rate. A sensible test involves building a five-year running-cost estimate at the offer stage — the total generally lands above the initial estimate.