Buyers agents set out the ongoing costs of owning a holiday home, including a second set of furniture and fittings, council rates, cleaning and gardening, with a $1 million property potentially costing about $75,000 a year in interest and running expenses. PIPA chair Nicola McDougall noted such homes attracted capital gains tax and land tax, and owners reliant on peak season bookings might not be able to use them.
Reported by
Kate McIntyre, The Daily Telegraph, 22 January 2024
PIPA has summarised this coverage for members. Copyright in the original article remains with its publisher.
