Spain has the highest costs associated with buying a home

July 2, 2010 at 3:13 pm Leave a comment

According to a recent study, cited by El Mundo, Spain has the highest costs associated with buying a home. The countries surveyed by the European Mortgage Federation included Belgium, Denmark, Estonia, France, Germany, Ireland, Italy, Latvia, Lithuania, Poland, Portugal, Spain, Sweden and the United Kingdom.

The weighted average of costs associated with buying a home in these countries ranges from 1.0% in Lithuania to 13.4% in Belgium, but reaches 11.4% in Spain of the cost of the property. In general, the costs are higher in Southern Europe, whereas they are lower in the Nordic and Baltic states.

The highest component of this percentage is made up of taxes and costs of operation. Of all the countries in the study, Spain has the highest real estate taxes, between 7,5% and 8%.

Photo source: http://www.canalcontemporaneo.art.br

News source: El Mundo

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Entry filed under: Distressed sales, Everyday things, News, Real estate. Tags: , , , , , , , , , .

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