What are condominium fees?

These are the costs required for the maintenance, day-to-day use and management of the common parts of a building, such as staircases, roofs, gardens or lifts. When you buy a unit, the owner becomes responsible for paying a periodic quota, calculated according to the property's permillage.

In practice, this amount is a fixed monthly cost that should be included in the housing budget alongside the mortgage payment.

For example, a condominium fee of EUR50 per month equals EUR600 per year, and it can rise significantly if major works are approved for the building.

Before buying, it is essential to ask the seller for the latest meeting minutes and the statement of condominium charges. These documents help you check whether there are outstanding debts, the size of the reserve fund and whether works have been approved that may imply high future payments.