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France Property Investment News
'Always check tax issues', says expert
A property expert has warned that investors in property abroad should always be sure to double check tax issues in their host country before buying.
Simon Walker, sales director of Off Plan International, warned buyers that they should be aware that capital gains tax, for example, can impact the profit made on a property.
He said: "In some countries, you've got to look out for capital gains tax.
"For instance, in Bulgaria, if you hold onto a property once it's signed over to you, which is after it's been completed, for five years you don't get involved in any capital gains tax.
"If you sell before that, you're liable to ten per cent."
Mr Walker also advised doing research and talking to as many people as possible, including agents, to get advice.
He added that people should "never ever" buy a property without going the see the area it is situated in for themselves.
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