I am trying to figure out on-going cost of ownership of a condo in Taiwan (in Taipei/New Taipei/Taoyuan). If you own a house here (or have looked into this), can you please tell me approximately:
Annual Tax(es)
Management fees
Insurance costs
Any other costs?
I understand these will vary because of different situations, but any insights or real data that you can share will be very helpful. For now I am thinking/planning for a condo in the range of 6M NTD.
So, are there workarounds for this? I had thought that foreigners do buy condos in Taiwan. There is even a clause for 35% Estate Tax on Sale of Condos by foreigners… (I am US citizen)
Thanks. Yes, I have been looking through that document. It is not clear to me though what visa status is necessary. I am trying to figure out whether I can buy a condo even on a Tourist status.
Here is a quick run down of my costs for a 14M condo/house in a 4 year old building in the Ximen area):
Loan (if applicable): principle + interest will of course vary based on amount borrowed. If you can find a lender, expect to put a minimum of 40% down as a foreigner without a Taiwanese spouse.
Security/management fee: This will vary based on the building and amenities. Mine is ~2300nt/mo depend on if I want one or more scooter spaces.
Electric: will vary based on season, age of the building, and usage preferences. I pay 1250nt/mo worst case for mine (paid every two months).
Water: costs recently increased on this, I guess a change of policy. It might also vary by city. I pay 240nt/mo (paid every two months).
Cable/internet: depends on your package and provider, I pay 659nt/mo for the lowest fiber option and MOD on ä¸čŹŻ.
Land Tax: paid yearly based on some book value (not actual appraisal). I pay 6403nt/year.
House Tax: paid yearly also based on a book value (not actual appraisal). I pay 10427nt/year.
Insurance: paid yearly, mine is 1831nt/year.
All of that breaks down to about 6000nt/mo + loan repayment (principle + interest). I hope that helps in your decision.
Sorry what do you mean by that? Do you mean to stay beyond 90 day limit? (If yes, I will most likely anyway leave Taiwan within every 3 months for some place).