Here is a Financial Calculation Table for a sample two room, 50 m² apartment in non-renovated condition, to help you with your Budget calculations. You can use this example to estimate the costs of the property you are looking to buy.
| Non-furnished | Furnished | ||
|---|---|---|---|
| Rooms | 1 | 1 | |
| Size (m²) | 50 | 50 | |
| Purchase Price | 100 % | 200.000 € | 200.000 € |
| Real Estate Agency Fees (6% + 19% VAT) | 7,14 % | 14.280 € | 14.280 € |
| Notary Fees | 1,80 % | 3.600 € | 3.600 € |
| Purchase Tax | 6,00 % | 12.000 € | 12.000 € |
| Total Acquisition Cost | 114,94 % | 229.880 € | 229.880 € |
| Remodelling | 700 €/m² | 35.000 € | 35.000 € |
| Furnishing | 300 €/m² | 15.000 € | |
| Renovation + Furnishing | 35.000 € | 50.000 € | |
| Total Price | 150,9 % | 264.880 € | 279.880 € |
| Net Rent | 15,0 €/m² | 750 € | |
| Gross Rent | 24,0 €/m² | 950 € | 1.200 € |
| Association Fees | 4,0 €/m² | 200 € | 200 € |
| Electro + Internet (40+25) | 70 € | ||
| Management Fee (15% + 19% VAT) | 17,58 % | 35 € | 210 € |
| Net Monthly Rent | 765 € | 720 € | |
| Net Annual Income | 9.180 € | 8.640 € | |
| Return before Tax | 4,00 % | 3,10 % | |
| Income Tax | 15 % | 1.377 € | 1.296 € |
| Net Income after Tax | 7.803 € | 7.344 € | |
| Net after Tax Return | 2,95 % | 2,62 % |
