Here is an interesting thing I realized recently as a result of living in the US. In the US property depreciates. As a result you can write off the cost of the depreciation against rental income (typically over 27.5 years).
This deduction is not possible for those living in Europe. Why the difference?
Is it because of differing building standards. Generally more buildings are timber frame in the US verses block build in Europe thereby affecting their lifespan? Continue reading Property Depreciation and why Europeans have never heard much about it!
