Antigua Guatemala real estate is limited since there are few beaches that are developed and have amenities to offer. Further, there are also limited Antigua Guatemala real estate listings for other residential, commercial and industrial properties. Non-resident Guatemalan prefers to invest in the Antigua Guatemala real estate property listings and on the Lake Atitlan, along with the Guatemala city.
Since the internal strife and violence has begun in 2009, people are also skeptical of investing in the properties in Antigua Guatemala real estate. The situation regarding general peace and order has gone down considerably and there is further tension and political unrest. This is especially due to the city gangs that are known as maras and the crime syndicate gangs that operate.
The yields on the rented properties in Antigua Guatemala real estate is quite moderate and varies between 4% – 8%. Antigua city, which has the most Antigua Guatemala real estate listings, gives good returns on the rental income. The average prices for the apartments of the real estate listings in Antigua Guatemala are approximately in the range of USD 1300 – 1500 per square meter. While the rent for the same apartments are in the league of USD 10 – 15 per square meter.
The taxes are quite steep for the rental income earned on the properties in Antigua Guatemala real estate. Non-residents are taxed at a steep rate of 31% of the rental income after the deduction of the expenses from the income. Additionally, VAT of 12% is also applicable on the rental income from the real estate listings in Antigua Guatemala. Further, the Capital Gains tax is also applicable for the non-residents and this is also taxed at a flat rate of 31% on the sale of the Antigua Guatemala real estate property listings. VAT is also applicable on the sale and the purchase of all real estate listings in Antigua Guatemala.
The transaction costs that are related to sale and purchase of the Antigua Guatemala real estate property listings can vary 15% – 20% and there is an additional VAT of 12%. In most cases, it takes about 50 – 60 days for the properties to be registered and the deal for the sale and purchase of the properties in Antigua Guatemala real estate to be completed.
Currently, all construction activities are down by at least 50%, since the recession hit the country two years ago in 2009, along with an increase in the crime and violence. This is the reason that some homes are open for potential purchasers at a lower rate. Also foreigners are not allowed to own any Antigua Guatemala real estate that is near rivers, oceans or the international borders of the country.
Taylor White is an international real estate investor and leading the charge at International Real Estate Listings the worldwide leader in Antigua Guatemala real estate listings and Antigua Guatemala rentals. Mexico real estate owners, agents, and developers are encouraged to create an account, upload an unlimited number of listings, write as much creative property details, include a You Tube property video, and it will be activated as a basic listing for 6 months, free.