I am about to purchase a flat in Poland. It is a refurbished block of 12 flats at around £30k each. All very nice and finished to a high standard. The agent tells me that the community charge (the fee for looking after the building, cleaning, taking rubbish out etc) could be £50pm although it is likely to be lower to start with as everything is new.
Please could someone advise me is this a typical amount as it seems rather a lot to me percentage wise based on UK figures.
Thanks very much
I think Somkeyone is referring to the maintenance cost.
I do not know what the cost is in Poland.
In US, it can range from 35% to 65% of gross income.
It depends on the age of the property.
If you take the net income, divide it by the current rate of return on similar investments, or the rate of return you desire, this will give you an estimate of how much you should pay for the property.