The True Cost Of Buying A Super-Luxury Home Around The World

Business Insider

Buying and selling expensive properties can be extremely expensive.

Just how bad it gets in major cities was analyzed more thoroughly than ever before in a report by  property developers  Candy & Candy,   Deutsche Bank and real-estate brokers  Savills .

In London for instance, stamp duty land tax and legal fees will cost the buyer an average of 7.1% on top of what they're already paying for the luxury property.  The seller would also take a hit in the UK for getting the pricey home off their hands thanks to 0.6% in legal and agency fees, totaling on average over $90,000.

In NYC, it's the seller who eats it, paying an average of $1.15 million on taxes and fees for a $15.5 million dollar home, while the buyer pays less than $220,000.

And this doesn't even take into account what you'd be paying each year in property tax.

Moral of the story: Know the true price of your home before you commit to that penthouse.

Check out more in the infographic:

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Candy GPS Report expensive homes infographic

Candy GPS Report



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