1. Market overview
Strong legal title and financial-sector demand support the market; high prices, insurance and concentration are material risks.
2. Can foreign buyers own property?
Foreign individuals can generally buy without a landholding licence; foreign companies must satisfy local registration rules.
3. Restricted areas and title types
Restrictions can depend on the location, land classification, nationality and ownership structure. Ask an independent local lawyer to identify the exact title type and confirm whether a licence, permit or government consent is needed.
4. Typical buying process
Define your offer conditions, appoint an independent local lawyer, verify title and boundaries, inspect the property, confirm planning and rental permissions, sign only after due diligence, then complete before the locally authorised notary, lawyer or registry.
5. Purchase taxes and closing costs
Standard conveyance stamp duty is a major upfront cost; there is generally no annual property, income or capital-gains tax.
6. Ongoing ownership costs
Budget for property or land tax, insurance, building or community fees, utilities, maintenance, management and any leasehold charge. Coastal and island properties can carry significantly higher insurance and upkeep costs.
7. Rental income and capital gains
Tax treatment depends on residence, ownership structure, use and any tax treaty. Short-term rental permits and tourist levies can be municipal or island-specific. Obtain a written calculation before relying on a projected net yield.
8. Residence and citizenship
Buying a property does not automatically provide residence or citizenship. Where an investment programme exists, only approved investments may qualify and minimums, fees, holding periods and eligibility rules can change.
9. Locations to investigate
Compare established cities, resort areas and emerging locations separately. Review year-round demand, access, infrastructure, seasonality, comparable rents, vacancy and recent completed sales—not asking prices alone.
10. Material risks
Strong legal title and financial-sector demand support the market; high prices, insurance and concentration are material risks.
11. Questions for your local adviser
Confirm beneficial ownership, clean and marketable title, debts, boundaries, permits, foreign-buyer approvals, total closing costs, annual taxes, rental legality, insurance availability, inheritance treatment and how future sale proceeds can be transferred abroad.