Purchase an apartment in Europe?

My wife and I would like to purchase a studio apartment somewhere centrally located in Europe. We would use this when we traveled their and rent it out the rest of the time, Where do we go to find out how to do that?
Thanks in advance.

Posted by Frank
Tresana, Highlands Ranch, CO, USA
10884 posts

TI is a great fantasy. We investigated the same idea several years ago and decided that a long term lease was the best way to go. Each country has its own rules and regulations concerning foreign ownership and leasing. Sometimes very complicated. Then there is the problem of signing lots of paper in a language we could not read. Finally there is the US tax code especially if there is rental income. I could go on but the hassle. Fact is high. The easiest country was England and maybe Spain.

Posted by Rosalyn
Berkeley
1007 posts

Cadogan publishes some books (country-specific, I believe) on this subject. You can look for them on Amazon. However, since Cadogan is a UK publisher, their information may be more relevant to EU citizens than to us Americans.

Posted by James
Frisco
1799 posts

Fantasies can come true: This is a general info site: http://budapestflat.shutterfly.com/ And this is the site of the management company that handles the place for me. http://www.budapestholidayservice.com/the_pond.htm We are now working on number two. If you are interested I have a Cold War communist Fallout Shelter I can make you a heck of a deal on. Or if you decide my neck of the woods is favorable for your fantasy I can tell you all of my mistakes and the few things I have done correctly. Feel free to contact me. Every country and every city will be different. In Budapest here is a company that specializes in helping people like you. Companies like this will help you do a complete turnkey enterprise from purchase through renovation and will manage the place for you as well. I didn't use them and I'm not recommending this sort of thing because I think you can do it pretty easy by yourself. But it's a good source of information to give you a clue as to what you are getting into. Cost? An efficiency apartment of about 40sm a block or two off one of the great zones, might set you back $75,000 to $100,000 restored and ready to go. http://www.capitalrealestate.hu/investor_center/investor_center_psw_sample_purchase.php

Posted by Grier
Carmel, IN
1057 posts

You might check Rosanne Knorr's book(s) about living abroad. She and her husband bought a house and moved to France which is not what you want to do but she may cover part time residency too.

Posted by Andre L.
Tilburg, Netherlands
2176 posts

It depends much on the country. In places like Germany or Switzerland being a foreign landlord is very complicated. In UK it is easy. Some cities have regulations or stupid levies on foreign non-resident owners. Some countries have trouble with insurance. You need to check individually each country/city you might be interested in.