RCG GLOBAL REAL ESTATE INDEX 2021
The RCG Global Real Estate Index ranks the property markets in more than 180 world cities. The index factors in market stability, market strength, affordability, and taxation affecting each city’s real estate market. In the index, you will find important information such as the average rental and purchase prices of a 100-square-meter residential property and all the property taxes. It’s important to understand that the average price is different from the median price. As such, certain property markets can experience large price differences from one neighborhood to another. This is typically true in countries experiencing high inequality. As such, these prices might not reflect the actual cost of renting or purchasing experienced by HNWI and their family.
The RCG global real estate index covers all major housing markets across the globe, making it easy for you to track real estate. Our global real estate price index that tracks the price movements of the most expensive residential properties around the world.
INDEX
| Rank | COUNTRY | CITY | Index | Price to Income Ratio | Mortgage as Percentange of Income | Gross Rental Yield (City Centre) | Rent – Apartment (3 bedrooms) in City Centre | Buy – Price per Square Meter to Buy Apartment in City Centre | Property Tax Residential(Home) | Property Tax Commercial | Transfer Tax Residential Property | Transfer Tax Commercial Property ($1MUSD) | Rental Income Tax Tax on Residential Property | Rental Income Tax Tax on Commercial Property | Capital Gain Tax on Main Residence |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Saudi Arabia | Jeddah | 1 | 2.89 | 21.77% | 7.89% | $ 600 | $ 90,000 | 0 | 0 | 0 | 0 | 20% | 20% | 0 |
| 2 | Saudi Arabia | Riyadh | 1 | 2.77 | 20.68% | 8.89% | $ 800 | $ 117,000 | 0 | 0 | 0 | 0 | 20% | 20% | 0 |
| 3 | Kuwait | Kuwait City | 0.99 | 18.39 | 171.07% | 2.68% | $ 1,900 | $ 730,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 4 | Honduras | San Pedro Sula | 0.99 | 4.71 | 63.51% | 15.90% | $ 600 | $ 38,000 | 0.35% | 0.35% | 1.50% | 1.50% | Income Tax | Income Tax | 10% |
| 5 | Isle of Man | Douglas | 0.97 | 4.98 | 32.75% | 9.40% | $ 1,500 | $ 199,000 | 0.4%* | 0.4%* | 0 | 0 | 20% | 20% | 0 |
| 6 | Kazakhstan | Astana | 0.94 | 7.64 | 115.96% | 7.51% | $ 600 | $ 86,000 | 1.50% | 1.50% | 0 | 0 | 10% | 10% | 0 |
| 7 | Qatar | Doha | 0.94 | 5.95 | 46.02% | 7.90% | $ 2,800 | $ 415,000 | 0 | 0 | 0 | 0 | 10% | 10% | 0 |
| 8 | Bolivia | La Paz | 0.94 | 10.35 | 98.15% | 6.46% | $ 600 | $ 110,000 | 0.1154% | 0.1154% | 3% | 3% | 13% | 13% | 0 |
| 9 | UAE | Abu Dhabi | 0.93 | 4.91 | 36.10% | 9.04% | $ 2,600 | $ 290,000 | 3% of rental Value | 3% of rental value | 2% | 2% | 0 | 0 | 0 |
| 10 | Azerbaijan | Baku | 0.93 | 15.87 | 166.34% | 5.02% | $ 700 | $ 143,000 | 0.40% | 0.40% | 0 | 0 | 25% | 25% | 0 |
| 11 | Romania | Bucharest | 0.93 | 10.51 | 92.00% | 4.92% | $ 900 | $ 210,000 | 0.26% | 1% | 1.50% | 1.50% | 16% | 16% | 0 |
| 12 | Cyprus | Nicosia | 0.93 | 5.35 | 34.13% | 7.40% | $ 1,100 | $ 184,000 | 0 | 0 | 2.68%* | 2.68%* | Income Tax+ 3% | Income Tax+ 3% | 0 |
| 13 | Slovakia | Bratislava | 0.92 | 13.52 | 78.03% | 3.75% | $ 1,300 | $ 400,000 | €7/m2 + 1.15% of land value | €15/m2 + 1.15% of land value | 0 | 0 | Income Tax | Income Tax | 0 |
| 14 | Honduras | Tegucigalpa | 0.92 | 9.42 | 118.31% | 8.81% | $ 800 | $ 108,000 | 0.35% | 0.35% | 1.50% | 1.50% | Income Tax | Income Tax | 10% |
| 15 | Kazakhstan | Almaty | 0.91 | 11.58 | 171.75% | 6.10% | $ 600 | $ 240,000 | 1.50% | 1.50% | 0 | 0 | 10% | 10% | 0 |
| 16 | Libya | Tripoli | 0.91 | 13.31 | 210.30% | 4.43% | $ 1,100 | $ 279,000 | 0 | 0 | 0 | 0 | 10% | 10% | 10% |
| 17 | Andorra | Andorra la Vella | 0.9 | 7.5 | 49.90% | 4.86% | $ 1,500 | $ 347,000 | 0.319 euros / m² | 0.5€/m2 | 4%* | 4% | 13% | 13% | 0* |
| 18 | Turks and Caicos Islands | Providenciales | 0.9 | 3.61 | 31.04% | 19.65% | $ 2,500 | $ 135,000 | 0 | 0 | 6.50% | 6.50% | 0 | 0 | 0 |
| 19 | Bahrain | Manama | 0.89 | 8.95 | 78.94% | 7.29% | $ 1,700 | $ 279,000 | 10% of rental Income | 10% of rental Income | 1.70% | 1.70% | 0 | 0 | 0 |
| 20 | Oman | Muscat | 0.89 | 4.93 | 38.43% | 6.45% | $ 1,100 | $ 209,000 | 0 | 0 | 5% | 5% | 5.00% | 5.00% | 0 |
| 21 | Ecuador | Quito | 0.89 | 12.4 | 152.38% | 6.35% | $ 800 | $ 154,000 | 0.65% | 0.65% | 1% | 1% | Income Tax | Income Tax | 10% |
| 22 | Macedonia | Skopje | 0.89 | 13.7 | 110.96% | 4.33% | $ 500 | $ 150,000 | 0.15% | 0.20% | 2% | 4% | 10% | 10% | 7% |
| 23 | Moldova | Chisinau | 0.88 | 12.43 | 140.23% | 6.50% | $ 500 | $ 108,000 | 0.85% | 1.10% | 0*% | 0*% | 18% | 18% | 18% |
| 24 | Mongolia | Ulaanbaatar | 0.88 | 10.98 | 132.16% | 7.31% | $ 600 | $ 106,000 | 1% | 1% | 2% | 2% | 10% | 10% | 2% |
| 25 | Tanzania | Dar es Salaam | 0.87 | 14.69 | 294.88% | 16.67% | $ 1,200 | $ 66,000 | 0.15% | 0.15% | 1% | 1% | 10% | 10% | 10% |
| 26 | Albania | Durres | 0.87 | 11.54 | 98.09% | 5% | $ 500 | $ 120,000 | 30 ALL/sqm | 400 ALL/sqm | 0* | 0* | Income tax | Income tax | Income tax |
| 27 | Cape Verde | Praia | 0.87 | 9.82 | 200.22% | 8.75% | $ 600 | $ 80,000 | 0.31875% | 0.31875% | 1.50% | 1.50% | Income Tax | Income Tax | 1% |
| 28 | Cyprus | Limassol | 0.86 | 9.44 | 64.01% | 5.98% | $ 1,700 | $ 353,000 | 0 | 0 | 2.68%* | 2.68%* | Income Tax+ 3% | Income Tax+ 3% | 0 |
| 29 | Latvia | Riga | 0.86 | 9.58 | 61.22% | 4.58% | $ 900 | $ 247,000 | 0.60% | 1.50% | 2%* | 2%* | 10% | 10% | 0 |
| 30 | El Salvador | San Salvador | 0.86 | 14.28 | 147.67% | 7.08% | $ 800 | $ 120,000 | $230 | $230 | 3% | 3% | Income Tax | Income Tax | 10% |
| 31 | Montenegro | Budva | 0.85 | 19.28 | 193.50% | 3.42% | $ 800 | $ 280,000 | 0% | 1% | 3% | 3% | 9% | 9% | 0% |
| 32 | Saint Lucia | Castries | 0.82 | 4 | 40.00% | 9.04% | $ 1,300 | $ 125,000 | 5% of rental value | 0.25%* | 5%* | 5%* | Income Tax + 2% of contract value | Income Tax + 2% of contract value | 0 |
| 33 | Costa Rica | San Jose | 0.85 | 9.42 | 100.59% | 6.35% | $ 900 | $ 185,000 | 0.25% | 0.25% | 1.50% | 1.50% | Income Tax | Income Tax | 0 |
| 34 | Paraguay | Asuncion | 0.84 | 13.38 | 193.09% | 5.65% | $ 600 | $ 120,000 | 1% | 1% | 1.80% | 1.80% | Income Tax | Income Tax | Income Tax |
| 35 | Malaysia | Kuala Lumpur | 0.84 | 10.52 | 78.50% | 3.56% | $ 900 | $ 280,000 | 4% of rental value | 10% of rental value | 3% | 3% | Income Tax | Income Tax | 0 |
| 36 | Iceland | Reykjavik | 0.84 | 6.5 | 55.93% | 6.97% | $ 2,500 | $ 465,000 | 0.20% | 1.65% | 0.20% | 1.65% | 12.5%* | 12.5%* | 0 |
| 37 | UAE | Dubai | 0.83 | 5.14 | 38.33% | 9.64% | $ 3,100 | $ 345,000 | 5% of rent valuation* | 5% of rent valuation* | 4% | 4% | 0 | 0 | 0 |
| 38 | Guatemala | Guatemala City | 0.83 | 13.58 | 133.39% | 7.44% | $ 900 | $ 156,000 | 0.90% | 0.90% | 3% | 3% | 7% | 7% | 10% |
| 39 | Thailand | Phuket | 0.83 | 11.23 | 98.06% | 6.05% | $ 1,100 | $ 199,000 | 12.5% of rental value | 12.5% of rental value | 3% | 3% | Income Tax – 30% | Income Tax – 30% | 0 |
| 40 | Serbia | Belgrade | 0.82 | 20.09 | 146.81% | 2.95% | $ 800 | $ 290,000 | 0.40% | 0.40% | 2.50% | 2.50% | 20% | 20% | 15% |
| 41 | Hungary | Budapest | 0.82 | 14.89 | 117.30% | 3.41% | $ 1,000 | $ 330,000 | $6.37/m2 | $6.37/m2 | 4% | 4% | 16% | 16% | 0* |
| 42 | Turkey | Istanbul | 0.82 | 10.82 | 157.79% | 5.17% | $ 600 | $ 120,000 | 0.60% | 0.60% | 4% | 4% | 1/2 of Income Tax | 1/2 of Income Tax | 0 |
| 43 | Vanuatu | Port Vila | 0.82 | 5.89 | 51.69% | 20.67% | $ 2,300 | $ 149,000 | 5.5% of rental valuation | 5.5% of rental valuation | 7% | 7% | 6.25%* | 12.50% | 0 |
| 44 | Georgia | Tbilisi | 0.82 | 15.07 | 185.69% | 6.44% | $ 700 | $ 127,000 | 1% | 1% | 0 | 0 | Income Tax | Income Tax | 0 |
| 45 | Liechtenstein | Vaduz | 0.82 | 3.7 | 42.82% | 6.88% | $ 2,900 | $ 521,000 | 0* | 0* | 0* | 0* | Income Tax | Income Tax | 12.5%* |
| 46 | Netherlands | Amsterdam | 0.81 | 11.1 | 69.15% | 4.44% | $ 3,300 | $ 842,000 | 0.049% + €440 | 0.17265% + €440 | 2% | 6% | 30%* | 30%* | 0 |
| 47 | Egypt | Cairo | 0.81 | 12.17 | 195.89% | 7.25% | $ 400 | $ 550,000 | 10% of rental value | 10% of rental value | 2.50% | 2.50% | 1/2 of Income Tax | 1/2 of Income Tax | 0 |
| 48 | Ukraine | Kiev | 0.81 | 12.17 | 218.59% | 6.81% | $ 1,100 | $ 170,000 | 1% | 2.70% | 1% | 1% | 19.50% | 19.50% | 0.00% |
| 49 | Venezuela | Caracas | 0.8 | 15.38 | 299.34% | 7.50% | $ 600 | $ 100,000 | 0.48% | 0.48% | 1.10% | 1.10% | Income Tax | Income Tax | 0 |
| 50 | Peru | Lima | 0.8 | 16.65 | 181.44% | 6.18% | $ 900 | $ 189,000 | 1% | 1% | 3.30% | 3.30% | 5% | 5% | 5% |
| 51 | Russia | Saint Petersburg | 0.8 | 15.92 | 173.14% | 4.51% | $ 1,000 | $ 254,000 | 1% | 2.20% | $1,000 | $1,000 | 13% | 13% | 0 |
| 52 | Thailand | Bangkok | 0.79 | 29.24 | 232.21% | 3.29% | $ 1,900 | $ 520,000 | 12.5% of rental value | 12.5% of rental value | 3% | 3% | Income Tax – 30% | Income Tax – 30% | 0 |
| 53 | Laos | Vientiane | 0.79 | 29.14 | 345.24% | 4.18% | $ 1,400 | $ 350,000 | 0* | 0* | 1% | 1% | 10% | 10% | 5% |
| 54 | Poland | Warsaw | 0.79 | 14.73 | 111.14% | 4.12% | $ 1,500 | $ 430,000 | 0.75 PLN/m2 | 23.13 PLN/m2 | 0.00% | 0.00% | 32% | 32% | 19% |
| 55 | Vietnam | Ho Chi Minh City | 0.78 | 22.81 | 250.08% | 4.62% | $ 1,200 | $ 270,000 | 0.15% | 0.15% | 0.50% | 0.50% | Income Tax | Income Tax | Income Tax |
| 56 | Estonia | Tallinn | 0.78 | 9.79 | 62.38% | 4.07% | $ 1,100 | $ 339,000 | 1% | 2% | 0% | 0% | 20% | 20% | 20% |
| 57 | Belarus | Minsk | 0.77 | 17.17 | 253.53% | 4.38% | $ 700 | $ 190,000 | 0.45%* | 0.70% | 3.5%* | 3.5%* | 15% | 15% | 0 |
| 58 | Vietnam | Hanoi | 0.76 | 18.06 | 193.92% | 3.92% | $ 800 | $ 217,000 | 0.15% | 0.15% | 0.50% | 0.50% | Income Tax | Income Tax | Income Tax |
| 59 | Nicaragua | Managua | 0.76 | 11.17 | 142.06% | 5.54% | $ 500 | $ 97,000 | 1% | 1% | 4% | 4% | 10% | 10% | 30% |
| 60 | Uruguay | Montevideo | 0.76 | 17.04 | 164.21% | 3.91% | $ 800 | $ 242,000 | 0.5%* | 0.5%* | 4% | 4% | 10.5% | 10.5% | 12.0% |
| 61 | Lithuania | Vilnius | 0.76 | 11.11 | 69.90% | 3.97% | $ 1,000 | $ 334,000 | 2% | 3% | 0 | 0 | 15% | 15% | 0 |
| 62 | Greece | Athens | 0.75 | 11.33 | 85.78% | 4.77% | $ 900 | $ 180,000 | 15€/m2 + 0.5% | 20€/m2 + 1% | 3.75% | 3.75% | Income Tax* | Income Tax* | 0 |
| 63 | Tunisia | Tunis | 0.75 | 12.15 | 139.42% | 5.40% | $ 400 | $ 93,000 | 0.30% | 1.50% | 5% | 5% | 70% of Income Tax | 70% of Income Tax | 10% |
| 64 | Seychelles | Victoria | 0.75 | 16.08 | 192.70% | 21.26% | $ 2,200 | $ 120,000 | 0* | 0* | 6.50% | 6.50% | 25%* | 25%* | 0 |
| 65 | Switzerland | Lausanne | 0.74 | 11.25 | 63.30% | 2.42% | $ 3,300 | $ 1,581,000 | 0.15%* | 0.15%* | 3.30% | 3.30% | Income Tax | Income Tax | 14% |
| 66 | Lebanon | Beirut | 0.73 | 17.13 | 166.43% | 5.27% | $ 1,800 | $ 370,000 | 14% of rental value | 14% of rental value | 6% | 6% | 10% | 10% | 10% |
| 67 | Finland | Helsinki | 0.73 | 12.41 | 69.30% | 2.71% | $ 2,300 | $ 920,000 | 0.37% | 0.80% | 4%* | 4% | 34% | 34% | 0 |
| 68 | Cambodia | Phnom Penh | 0.73 | 31.58 | 363.96% | 5.06% | $ 1,200 | $ 233,000 | 0.10% | 0.10% | 4% | 4% | 10% | 10% | 0 |
| 69 | Croatia | Split | 0.73 | 20.48 | 155.97% | 2.88% | $ 1,000 | $ 412,000 | 0 | 0 | 5%* | 5% | 12% | 12% | 0 |
| 70 | Switzerland | Zurich | 0.73 | 8.11 | 45.83% | 3.35% | $ 4,200 | $ 1,465,000 | 0* | 0* | 0.15% | 0.15% | Income Tax | Income Tax | 35% |
| 71 | Turks and Caicos Islands | Cockburn Town | 0.72 | 9.47 | 81.45% | 6.11% | $ 1,500 | $ 200,000 | 0 | 0 | 10% | 10% | 0 | 0 | 0 |
| 72 | Chile | Santiago | 0.72 | 18.45 | 133.27% | 3.70% | $ 900 | $ 276,000 | 1.168% | 1.229% | 0.20% | 0.20% | Income Tax | Income Tax | 50% of Income Tax |
| 73 | Colombia | Bogota | 0.71 | 25.7 | 336.94% | 4.96% | $ 800 | $ 180,000 | 0.65%* | 0.95%* | 1.5%* | 1.5%* | Income Tax | Income Tax | 0 |
| 74 | Australia | Brisbane | 0.71 | 5.9 | 42.13% | 5.21% | $ 2,200 | $ 510,000 | 0.5654%* | 2.4229%* | 3.75% | 3.75% | Income Tax | Income Tax | 0 |
| 75 | Colombia | Cali | 0.71 | 13.45 | 188.69% | 4.67% | $ 500 | $ 84,000 | 0.6%* | .7%* | 3.50% | 3.50% | Income Tax | Income Tax | 0 |
| 76 | Denmark | Copenhagen | 0.71 | 5.67 | 35.82% | 3.69% | $ 1,500 | $ 506,000 | 340$+3.4% of land value | 340$+3.4% of land value | 0.60% | 0.60% | Income Tax | Income Tax | 0 |
| 77 | Jersey | Saint Helier | 0.71 | 9.47 | 63.07% | 5.10% | $ 3,000 | $ 717,000 | 1.85 % of Rateable value | 2.40% of Rateable value | 2.5%* | 2.5%* | 20% | 20% | 0 |
| 78 | Dominican republic | Santo Domingo | 0.71 | 14.23 | 188.22% | 6.15% | $ 700 | $ 134,000 | 1%* | 1%* | 3% | 3% | 27% | 27% | 25% |
| 79 | Algeria | Algiers | 0.7 | 25.96 | 238.41% | 2.96% | $ 500 | $ 170,000 | 3% of rental value* | 5% of rent value* | 5% | 5% | 10% | 15% | 12.225% |
| 80 | Brazil | Brasilia | 0.7 | 11.66 | 125.33% | 4.11% | $ 800 | $ 180,000 | 0.30% | 1% | 3% | 3% | Income Tax | Income Tax | Income Tax |
| 81 | Panama | Panama City | 0.69 | 12.21 | 99.51% | 8.38% | $ 1,600 | $ 226,000 | 2.10% | 2.10% | 2% | 2% | 25% | 25% | 10% |
| 82 | Antigua and Barbuda | Saint John’s | 0.69 | 8.2 | 102.46% | 6.26% | $ 1,200 | $ 200,000 | 0.30% | 0.50% | 10% | 10% | 0% | 0% | 0% |
| 83 | Malta | Valletta | 0.69 | 18.09 | 138.38% | 6.18% | $ 2,700 | $ 496,000 | 0 | 0 | 5% | 5% | 15% | 15% | 0% |
| 84 | Greece | Corfu | 0.68 | 12.87 | 138.92% | 4.50% | $ 900 | $ 236,000 | 15€/m2 + 0.5% | 20€/m2 + 1% | 3.75% | 3.75% | Income Tax* | Income Tax* | 0 |
| 85 | Mexico | Mexico City | 0.68 | 13.54 | 167.48% | 5.94% | $ 1,200 | $ 241,000 | 1.20% | 1.20% | 3% | 3% | Income Tax – 35% | Income Tax – 35% | 0 |
| 86 | Russia | Moscow | 0.68 | 20.8 | 223.54% | 3.79% | $ 1,800 | $ 544,000 | 1.4%* | 2.2%* | $1,000 | $1,000 | 13% | 13% | 0 |
| 87 | Bahamas | Nassau | 0.68 | 4.36 | 41.34% | 14.31% | $ 2,600 | $ 177,000 | 0.625%* | 1.5%* | 10% | 10% | .5% of rental Income Tax* | .5% of rental Income Tax* | 0 |
| 88 | Grenada | Saint George’s | 0.68 | 8.75 | 90.02% | 9.32% | $ 900 | $ 130,000 | 2.50% | 4% | 5%* | 5%* | .5* | .5* | 0.75%* |
| 89 | Uzbekistan | Tashkent | 0.68 | 14.86 | 319.41% | 6.44% | $ 600 | $ 102,000 | 2.5% | 5.00% | 0* | 0* | 7.50% | 7.50% | Income Tax |
| 90 | Iraq | Baghdad | 0.67 | 11.75 | 124.65% | 5.18% | $ 800 | $ 176,000 | 10% of rental value | 10% of rental value | 9%* | 9%* | 20% | 20% | 0 |
| 91 | USA | Boston | 0.67 | 8.16 | 59.02% | 5.00% | $ 4,300 | $ 1,040,000 | 1.059% | 2.54% | 0.46% | 0.46% | Income Tax | Income Tax | 20% |
| 92 | Pakistan | Karachi | 0.67 | 13.11 | 186.00% | 4.50% | $ 300 | $ 70,000 | 18% of rental value | 18% of rental value | 7.50% | 7.50% | 20% | 20% | 0 |
| 93 | Pakistan | Lahore | 0.67 | 12.93 | 214.48% | 4.89% | $ 300 | $ 68,000 | 18% of rental value | 18% of rental value | 7.50% | 7.50% | 20% | 20% | 0 |
| 94 | Slovenia | Ljubljana | 0.67 | 13.32 | 88.43% | 3.54% | $ 1,300 | $ 449,000 | 1.00% | 1.25% | 2% | 2% | 25% | 25% | 25% |
| 95 | Colombia | Medellin | 0.67 | 17.43 | 213.36% | 5.76% | $ 500 | $ 114,000 | 1.5%* | 1.5%* | 2% | 2% | Income Tax | Income Tax | 0 |
| 96 | Italy | Venice | 0.67 | 11.81 | 73.56% | 4.21% | $ 2,500 | $ 618,000 | 0.81% | 0.81% | 2.9% | 2.9% | 15% | 15% | 0 |
| 97 | Jordan | Amman | 0.66 | 9.29 | 91.97% | 5.35% | $ 600 | $ 128,000 | 15% of rental value | 15% of rental value | 9% | 9% | Income Tax | Income Tax | 0 |
| 98 | US Virgin Islands | Charlotte Amalie | 0.66 | 8.62 | 65.37% | 4.64% | $ 2,300 | $ 575,000 | 0.38% | 0.71% | 2% | 2% | Income Tax | Income Tax | 20% |
| 99 | Ireland | Dublin | 0.66 | 9.17 | 63.87% | 6.53% | $ 3,800 | $ 684,000 | 0.15% | 0.15% | 1%* | 2% | Income Tax* | Income Tax* | 0% |
| 100 | Morocco | Dakhla | 0.65 | 24 | 252% | 5.90% | $ 700 | $ 120,000 | 17.5% of rental value* | 40% of rental value | 5%* | 5%* | 0* | 0* | 0* |
| 101 | Fiji | Suva | 0.65 | 16.09 | 146.90% | 5.01% | $ 1,300 | $ 269,000 | 2.47% | 2.47% | 3% | 3% | Income Tax | Income Tax | 0 |
| 102 | Kenya | Nairobi | 0.63 | 25.61 | 390.37% | 3.03% | $ 900 | $ 319,000 | 0.60% | 0.60% | 4% | 4% | 10% | Income Tax | 0 |
| 103 | Czech Republic | Prague | 0.63 | 18.21 | 117.21% | 3.06% | $ 1,600 | $ 636,000 | 3.5$/m2* | 15$/m2* | 4% | 4% | 15% | 15% | 0 |
| 104 | Indonesia | Jakarta | 0.62 | 23.45 | 274.99% | 4.59% | $ 1,300 | $ 270,000 | 0.20% | 0.20% | 10% | 10% | 10% | 10% | 0* |
| 105 | Taiwan | Kaohsiung | 0.61 | 13.44 | 78.88% | 1.98% | $ 800 | $ 380,000 | 1.2%* | 3%* | 6.1%* | 6.1%* | Income Tax | Income Tax | 10%* |
| 106 | India | Kolkata | 0.61 | 10.76 | 113.44% | 3.90% | $ 400 | $ 110,000 | 40% of rental value | 40% of rental value | 7% | 7% | Income Tax | Income Tax | 0 |
| 107 | Norway | Oslo | 0.61 | 10.67 | 70.19% | 3.11% | $ 2,400 | $ 993,000 | 0.20% | 0.30% | 0.70% | 2.50% | 24% | 24% | 24% |
| 108 | Italy | Rome | 0.61 | 17.63 | 108.68% | 3.16% | $ 2,400 | $ 848,000 | 3.8€/m2 + 0.6%* | 18.23€/m2 + 1.16%* | 2% | 3% | 15% | 15% | 0 |
| 109 | Germany | Berlin | 0.6 | 9.72 | 57.90% | 3.47% | $ 2,100 | $ 660,000 | 2.835% of land value | 2.835% of land value | 6% | 6% | Income Tax | Income Tax | 12%* |
| 110 | Canada | Montreal | 0.6 | 7.54 | 50.27% | 4.66% | $ 1,800 | $ 466,000 | 0.7665% | 3.53% | 1.5%* | 1.5%* | Income Tax | Income Tax | 0 |
| 111 | Mauritius | Port Louis | 0.6 | 11.15 | 107.35% | 11.51% | $ 900 | $ 85,000 | 28% of rental value | 28% of rental value | 10% | 10% | 15% | 15% | 0 |
| 112 | Sri Lanka | Colombo | 0.59 | 31.5 | 474.25% | 4.54% | $ 1,100 | $ 261,000 | 35% of rental value | 35% of rental value | 4% | 4% | 18% | 18% | 0 |
| 113 | India | Hyderabad | 0.59 | 8.5 | 94.56% | 4.50% | $ 500 | $ 100,000 | 30% of rental value | 30% of rental value | 8% | 8% | Income Tax | Income Tax | 0 |
| 114 | Brazil | Rio de Janeiro | 0.59 | 23.76 | 267.43% | 3.89% | $ 700 | $ 195,000 | 1.0658% | 1.0658% | 2% | 2% | Income Tax | Income Tax | Income Tax |
| 115 | Dominica | Roseau | 0.59 | 6.5 | 52% | 12.90% | $ 700 | $ 63,000 | 1.25% | 1.25% | 10%* | 10%* | Income Tax | Income Tax | 0 |
| 116 | India | Bangalore | 0.58 | 8.29 | 89.29% | 3.59% | $ 600 | $ 160,000 | 20% of rental value | 25% of rental value | 10% | 10% | Income Tax | Income Tax | 0 |
| 117 | Switzerland | Geneva | 0.58 | 9.64 | 56.01% | 3.09% | $ 3,200 | $ 1,520,000 | 0.1%* | 0.2%* | 3% | 3% | Income Tax | Income Tax | 0* |
| 118 | Bulgaria | Sofia | 0.58 | 9.87 | 68.58% | 4.88% | $ 800 | $ 203,000 | 730$+0.5515% | 730$+0.5515% | 2.50% | 2.50% | 10% | 10% | 0 |
| 119 | Sweden | Stockholm | 0.58 | 14.31 | 87.68% | 2.75% | $ 2,400 | $ 1,158,000 | 0.75%* | 1.00% | 4.25% | 4.25% | 30% | 30% | 22% |
| 120 | Brazil | Sao Paulo | 0.57 | 17.62 | 190.43% | 4.46% | $ 900 | $ 232,000 | 1% | 1.50% | 3% | 3% | Income Tax | Income Tax | Income Tax |
| 121 | India | Delhi | 0.56 | 18.06 | 193.35% | 2.69% | $ 600 | $ 228,000 | 20% of rental value | 20% of rental value | 8% | 8% | Income Tax | Income Tax | 0 |
| 122 | Bermuda | Hamilton | 0.56 | 6.08 | 53.67% | 5.73% | $ 5,200 | $ 1,000,000 | 12% of rent value* | 7% of rental value | 4%* | 4%* | 8%* | 8%* | 0 |
| 123 | India | Chennai | 0.55 | 13.65 | 153.89% | 2.37% | $ 3,500 | $ 199,000 | 12.4% of rental value | 12.4% of rental value | 8% | 8% | Income Tax | Income Tax | 0 |
| 124 | Italy | Milan | 0.55 | 17.93 | 107.25% | 3.22% | $ 3,200 | $ 1,026,000 | 2.24€/m2+0.68%* | 5.23€/m2 + 1.14%* | 2% | 3% | 15% | 15% | 0 |
| 125 | Canada | Vancouver | 0.55 | 11.36 | 74.92% | 3.81% | $ 2,900 | $ 920,000 | 0.2550% | 1.244% | 2%* | 2%* | Income Tax | Income Tax | 0 |
| 126 | Bangladesh | Dhaka | 0.54 | 17.41 | 216.55% | 3.05% | $ 400 | $ 133,000 | 12% of rental value | 12% of rental value | 8.0% | 9.5% | Income Tax | Income Tax | 15% |
| 127 | Hong Kong | Hong Kong | 0.54 | 45.52 | 290.19% | 1.59% | $ 4,500 | $ 3,010,000 | 5% of rental value | 15% of rental value | 4.25% | 8.50% | 15% | 15% | 0 |
| 128 | South Africa | Johannesburg | 0.54 | 3.25 | 35.03% | 10.31% | $ 900 | $ 100,000 | 0.6916% | 1.7982% | 11%* | 11%* | Income Tax | Income Tax | 0* |
| 129 | Portugal | Lisbon | 0.54 | 16.45 | 100.21% | 4.27% | $ 1,900 | $ 531,000 | 0.8%* | 1.5%* | 6% | 6.50% | 28% | 28% | 0 |
| 130 | Macau | Macau | 0.54 | 26.1 | 169.81% | 1.76% | $ 2,100 | $ 1,250,000 | 10% of rental value | 16% of rental value | 3% | 3% | 12% | 12% | 0% |
| 131 | Brazil | Belo Horizonte | 0.53 | 23.57 | 305.54% | 3.52% | $ 500 | $ 160,000 | 1.97% | 1.97% | 3% | 3% | Income Tax | Income Tax | Income Tax |
| 132 | USA | Los Angeles | 0.53 | 7.42 | 52.99% | 6.12% | $ 4,400 | $ 827,000 | 1.205% | 1.205% | 0.56% | 0.56% | Income Tax | Income Tax | 20% |
| 133 | British Virgin Islands | Road town | 0.53 | 9.29 | 60.37% | 6.15% | $ 2,700 | $ 470,000 | 50$+1.5% of rental value | 50$+1.5% of rental value | 12% | 12% | 1.50% | 1.50% | 0 |
| 134 | Gibraltar | Gibraltar | 0.52 | 10.17 | 77.35% | 5.45% | $ 3,500 | $ 720,000 | 50% of rental value | 52% of annual value | 3.50% | 3.50% | 20% | 20% | 0 |
| 135 | Angola | Luanda | 0.52 | 14.83 | 330.55% | 9.42% | $ 10,000 | $ 550,000 | 15% of rent paid | 15% of rent paid | 2% | 2% | 15%* | 15% | 0 |
| 136 | Philippines | Manila | 0.52 | 37.15 | 369.41% | 5.89% | $ 2,300 | $ 352,000 | 2% | 2% | 1.50% | 1.50% | Income | Income | 0% |
| 137 | Morocco | Casablanca | 0.51 | 15.13 | 121.33% | 5.22% | $ 900 | $ 208,000 | 17.5% of rental value* | 40% of rental value | 5%* | 5%* | Income Tax | Income Tax | 20%* |
| 138 | Nigeria | Lagos | 0.51 | 15.51 | 285.70% | 25.55% | $ 2,600 | $ 90,000 | 0.132% | 0.132% | 15% | 15% | 10% | 10% | 10% |
| 139 | Spain | Barcelona | 0.5 | 13.66 | 84.28% | 4.12% | $ 1,900 | $ 540,000 | 0.75%* | 1%* | 10% | 10% | Income Tax | Income Tax | 0* |
| 140 | Belgium | Brussels | 0.5 | 6.11 | 35.81% | 5.44% | $ 1,900 | $ 390,000 | 1.62% of Rental Income * | 1.62% of Rental Income * | 12.50% | 12.50% | Income Tax* | Income Tax* | 0 |
| 141 | Spain | Madrid | 0.5 | 12.77 | 79.52% | 4.01% | $ 2,100 | $ 623,000 | 0.51%* | 0.985%* | 6% | 6% | Income Tax | Income Tax | 0* |
| 142 | Australia | Melbourne | 0.5 | 8.94 | 61.29% | 4.05% | $ 2,500 | $ 746,000 | 0.6665%* | 1.1211%* | 5.50% | 5.50% | Income Tax | Income Tax | 0 |
| 143 | Austria | Vienna | 0.5 | 12.84 | 79.46% | 2.62% | $ 2,000 | $ 919,000 | 0.60% | 1.20% | 3.50% | 3.50% | Income Tax* | Income Tax* | 0 |
| 144 | France | Nice | 0.49 | 13.95 | 80.40% | 3.03% | $ 2,300 | $ 813,000 | 25.54% of rental valuation* | 35.54% of rental valuation* | 5.81% | 5.81% | 27.57% | 27.57% | 0 |
| 145 | New Zealand | Auckland | 0.48 | 11.08 | 78.99% | 3.67% | $ 2,400 | $ 807,000 | $350+ 0.25%* | $400+ 0.694%* | 0* | Capital gains are taxed at 28% | Income Tax | Income Tax | 0 |
| 146 | China | Changsha | 0.48 | 14.21 | 110.92% | 2.90% | $ 700 | $ 258,000 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 147 | China | Shenyang | 0.48 | 13.69 | 109.66% | 2.37% | $ 600 | $ 275,000 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 148 | Canada | Toronto | 0.48 | 12.29 | 82.18% | 3.88% | $ 2,700 | $ 898,000 | 0.661% | 2.55% | 2.00% | 2.00% | Income Tax | Income Tax | 0 |
| 149 | Ethiopia | Addis Ababa | 0.46 | 24.28 | 413.64% | 9.22% | $ 1,400 | $ 128,000 | 5$ | 5% | 6% | 6% | Income Tax | Income Tax | 15% |
| 150 | China | Chongqing | 0.46 | 13.57 | 110.50% | 1.99% | $ 500 | $ 344,000 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 151 | USA | Miami | 0.46 | 5.77 | 42.19% | 8.72% | $ 3,600 | $ 480,000 | 1.28% | 1.35% | 6.00% | 6.45% | Income Tax | Income Tax | 20% |
| 152 | China | Ningbo | 0.46 | 17.33 | 130.71% | 1.44% | $ 700 | $ 497,000 | 1.2%* | 4%* | 0* | 5%* | Income Tax* | Income Tax* | 30%* |
| 153 | South Africa | Cape Town | 0.45 | 7 | 77.47% | 6.82% | $ 1,500 | $ 248,000 | 0.6397% | 1.2795% | 11%* | 11%* | Income Tax | Income Tax | 0* |
| 154 | Cuba | Havana | 0.45 | 65.63 | 506.37% | 18.88% | $ 700 | $ 24,000 | 2% | 2% | 4% | 4% | Income tax | Income tax | Income tax |
| 155 | China | Wuxi | 0.45 | 14.23 | 130.69% | 2.08% | $ 600 | $ 357,000 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 156 | Barbados | Bridgetown | 0.44 | 16.69 | 146.41% | 1.69% | $ 800 | $ 158,000 | 12% of rental value | 12% of rental value | 8.0% | 9.5% | Income Tax | Income Tax | 15% |
| 157 | China | Foshan | 0.44 | 17.9 | 80.68% | 1.78% | $ 700 | $ 418,000 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 158 | China | Chengdu | 0.43 | 17.49 | 139.33% | 2.00% | $ 700 | $ 387,000 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 159 | Taiwan | Taipei | 0.43 | 31.43 | 186.57% | 1.29% | $ 1,600 | $ 1,277,000 | 1.2%* | 3%* | 6.1%* | 6.1%* | Income Tax | Income Tax | 10%* |
| 160 | Australia | Sydney | 0.42 | 9.36 | 63.96% | 4.45% | $ 3,800 | $ 1,006,000 | 0.9935%* | 1.8712%* | 4.05% | 4.05% | Income Tax | Income Tax | 0 |
| 161 | Anguilla | The Valley | 0.39 | 4.32 | 56.26% | 8.07% | $ 1,600 | $ 216,000 | 0.75% | 0.75% | 17.5%* | 17.5%* | $2500* | $2500* | 0 |
| 162 | China | Wuhan | 0.39 | 22.41 | 175.70% | 1.68% | $ 700 | $ 448,000 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 163 | China | Qingdao | 0.36 | 22.72 | 184.97% | 1.88% | $ 1,000 | $ 550,000 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 164 | China | Beijing | 0.35 | 41.55 | 336.75% | 1.65% | $ 2,400 | $ 1,490,000 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 165 | China | Suzhou | 0.35 | 21.74 | 176.53% | 1.82% | $ 1,000 | $ 602,000 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 166 | Iran | Tehran | 0.35 | 46.06 | 1004.92% | 4.64% | $ 1,600 | $ 364,000 | 0.2%*` | 0.5%* | 5% | 5% | Income Tax | Income Tax | 0 |
| 167 | Germany | Frankfurt | 0.34 | 9.68 | 58.37% | 3.38% | $ 2,500 | $ 850,000 | 1.75% | 1.75% | 6% | 6% | Income Tax | Income Tax | 12%* |
| 168 | China | Hangzhou | 0.34 | 26.57 | 208.56% | 1.63% | $ 1,200 | $ 793,000 | 1.2%* | 4%* | 0* | 5%* | Income Tax* | Income Tax* | 30%* |
| 169 | Argentina | Buenos Aires | 0.32 | 26.87 | 1223.29% | 2.08% | $ 500 | $ 280,000 | 0.95%* | 0.95%* | 5.30% | 5.30% | 35% | 35% | 0 |
| 170 | USA | San Francisco | 0.32 | 7.3 | 51.87% | 5.06% | $ 6,300 | $ 1,484,000 | 1.180% | 1.180% | 0.86% | 0.86% | Income Tax | Income Tax | 20% |
| 171 | China | Nanjing | 0.3 | 25.94 | 208.04% | 1.75% | $ 1,200 | $ 708,000 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 172 | Trinidad and Tobago | Port of Spain | 0.3 | 10.83 | 95.83% | 6.64% | $ 1,200 | $ 214,000 | 3.50% | 5% | 10% | 10% | 30% | 30% | 0 |
| 173 | Japan | Tokyo | 0.3 | 15.4 | 88.07% | 2.63% | $ 3,100 | $ 1,210,000 | 1.55%* | 1.7%* | 3% | 4% | Income Tax | Income Tax | 20% |
| 174 | India | Mumbai | 0.26 | 34.94 | 370.01% | 2.39% | $ 1,600 | $ 657,000 | 38.67% of rental value | 68.33% of rental value | 10% | 10% | Income Tax | Income Tax | 0 |
| 175 | Singapore | Singapore | 0.26 | 19.38 | 121.32% | 2.40% | $ 4,000 | $ 1,720,000 | 16% of rental valuation | 10% of rental Income Tax | 5%* | 3% | Income Tax + 4.4%* | Income Tax + 0.4% | 0 |
| 176 | Saint Kitts and Nevis | Basseterre | 0.25 | 12.5 | 164% | 6.54% | $ 2,100 | $ 350,000 | 0.20% | 0.30% | 22%* | 22%* | 0 | 0 | 0 |
| 177 | France | Paris | 0.25 | 21.18 | 120.51% | 2.43% | $ 3,400 | $ 1,494,000 | 35.86% of Rental valuation* | 45.86% of Rental valuation* | 5.81% | 6.41% | 27.57% | 27.57% | 0 |
| 178 | Comoros | Moroni | 0.24 | 41 | 587% | 4.36% | $ 200 | $ 50,000 | 3000F | 1% | 15% | 15% | 15% | 15% | 20% |
| 179 | Germany | Munich | 0.24 | 16.43 | 96.74% | 2.46% | $ 2,800 | $ 1,389,000 | 1.8725% | 1.8725% | 3.50% | 3.50% | Income Tax | Income Tax | 12%* |
| 180 | China | Tianjin | 0.24 | 32.93 | 262.97% | 1.32% | $ 1,100 | $ 841,000 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 181 | Luxembourg | Luxembourg City | 0.21 | 11.77 | 69.14% | 3.30% | $ 3,600 | $ 1,275,000 | 1.75% of rental evaluation | 7.5% of rental evaluation | 10%* | 11.8%* | Income Tax | Income Tax | 0 |
| 182 | Taiwan | Taichung | 0.2 | 20.37 | 122.46% | 1.72% | $ 900 | $ 554,000 | 1.2%* | 3%* | 6.1%* | 6.1%* | Income Tax | Income Tax | 10%* |
| 183 | China | Guangzhou | 0.19 | 32.58 | 264.23% | 1.46% | $ 1,300 | $ 1,023,000 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 184 | UK | London | 0.17 | 15.71 | 102.24% | 3.24% | $ 4,300 | $ 1,415,000 | £1862.40 | 0.46% X £400/m2 | 10% | 5% | Income Tax | Income Tax | 0 |
| 185 | USA | New York | 0.15 | 9.9 | 70.56% | 4.72% | $ 6,600 | $ 1,631,000 | 1.925% | 1.925% | 2.82% | 2.82% | Income Tax | Income Tax | 20% |
| 186 | South Korea | Seoul | 0.1 | 29.02 | 200.39% | 1.11% | $ 2,300 | $ 2,025,000 | 0.68% | 0.68% | 5% | 5% | Income Tax | Income Tax | 0 |
| 187 | China | Shanghai | 0.04 | 36.62 | 288.45% | 1.96% | $ 2,900 | $ 1,509,000 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 188 | St Vincent and The Grenadines | Kingstown | 0 | 10 | 120% | 8.25% | $ 800 | $ 100,000 | |||||||
| 189 | China | Shenzhen | 0 | 47.23 | 379.46% | 1.27% | $ 1,700 | $ 1,544,000 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 190 | Syria | Damascus | -0.11 | 67.64 | 801.96% | 4.14% | $ 700 | $ 183,000 | 50% of rental value | 60% of rental value | 25% | 25% | Income Tax | Income Tax | 15% |
| 191 | Cayman Islands | George Town | -0.15 | 17.3 | 145.18% | 1.33% | $ 4,700 | $ 3,593,000 | 0 | 0 | 7.50% | 7.50% | 0 | 0 | 0 |
| 192 | Monaco | Monaco | -1.76 | 62.23 | 387.28% | 2.08% | $ 21,800 | $ 8,427,000 | 0 | 0 | 6.5% | 7.5% | 1% | 1% | 0 |
NOTES
| COUNTRY | CITY | Note | ||
|---|---|---|---|---|
| Albania | Durres | TTP: there is a obligatory notary fee of roughly 1%. | ||
| Algeria | Algiers | TTRP: none after 10y. Property Tax: The calculation of the property tax are quite complicated, they are relatively low especially for residential. Wealth tax is levied on property at a rate of 1.75% | ||
| Andorra | Andorra la Vella | TTRP: none after 5y if Income Tax is wihtin 3 times the minimum. CGMR: receive an exemption if sold after 5 years for a citizen or a PR. Needs to be main residence for at least 2 years and proceeds of sale reinvested into another property. Otherwise 8% for after 5 years (adjusted to inflation). PTC: Tax on Financial bodies (activity 65.42). Property Tax: inludes real estate tax, lighting tax, hygiene tax | ||
| Angola | Luanda | RITRP: Property tax are none if rented, as it is payed by rental Income Tax. | ||
| Anguilla | The Valley | Rental Income Tax: required to pay an annual fee for the the first 2000sqf, larger areas have additionnal fees. Transfer tax: 12.5% for the Alien Land Holding licence + 5% Stamp duty on transfer. | ||
| Antigua and Barbuda | Saint John’s | |||
| Argentina | Buenos Aires | |||
| Australia | Brisbane | |||
| Australia | Melbourne | |||
| Australia | Sydney | |||
| Austria | Vienna | |||
| Azerbaijan | Baku | |||
| Bahamas | Nassau | |||
| Bahrain | Manama | |||
| Bangladesh | Dhaka | |||
| Barbados | Bridgetown | Transfer Tax: includes transfer tax and stamp duty of 1%. | ||
| Belarus | Minsk | |||
| Belgium | Brussels | |||
| Bermuda | Hamilton | Transfer Tax: incremental, can reach 7% for portion above $1.5M. Property tax: incremental, can reach up to 47%, caluculated on rental value. Rental Income Tax: incremental stamp duty based on value of lease. | ||
| Bolivia | La Paz | |||
| Brazil | Belo Horizonte | |||
| Brazil | Brasilia | |||
| Brazil | Rio de Janeiro | |||
| Brazil | Sao Paulo | |||
| British Virgin Islands | Road town | |||
| Bulgaria | Sofia | |||
| Cambodia | Phnom Penh | |||
| Canada | Montreal | Property Transfer Tax: raise up to 2.5% for amounts above CAD 1M. First time home howner can have that amount remboursed. | ||
| Canada | Toronto | Property Transfer Tax: varies between 0.5% to 1.5% | ||
| Canada | Vancouver | Property Transfer Tax: varies from 1% to 3%. BC now levies a 15% surtax on foreign buyers. | ||
| Cape Verde | Praia | |||
| Cayman Islands | George Town | |||
| Chile | Santiago | |||
| China | Beijing | CGMR: range from 30% to 60% depending . Rental Income Tax: additionnal charges are levied. Property Tax: each province and municipality are allowed to apply a reduction ranging from 10% to 30%. Transfer tax: ranges from 3%- 5% depending the province. | ||
| China | Changsha | CGMR: range from 30% to 60% depending . Rental Income Tax: additionnal charges are levied. Property Tax: each province and municipality are allowed to apply a reduction ranging from 10% to 30%. Transfer tax: ranges from 3%- 5% depending the province. | ||
| China | Chengdu | CGMR: range from 30% to 60% depending . Rental Income Tax: additionnal charges are levied. Property Tax: each province and municipality are allowed to apply a reduction ranging from 10% to 30%. Transfer tax: ranges from 3%- 5% depending the province. | ||
| China | Chongqing | CGMR: range from 30% to 60% depending . Rental Income Tax: additionnal charges are levied. Property Tax: each province and municipality are allowed to apply a reduction ranging from 10% to 30%. Transfer tax: ranges from 3%- 5% depending the province. | ||
| China | Foshan | CGMR: range from 30% to 60% depending . Rental Income Tax: additionnal charges are levied. Property Tax: each province and municipality are allowed to apply a reduction ranging from 10% to 30%. Transfer tax: ranges from 3%- 5% depending the province. | ||
| China | Guangzhou | CGMR: range from 30% to 60% depending . Rental Income Tax: additionnal charges are levied. Property Tax: each province and municipality are allowed to apply a reduction ranging from 10% to 30%. Transfer tax: ranges from 3%- 5% depending the province. | ||
| China | Hangzhou | CGMR: range from 30% to 60% depending . Rental Income Tax: additionnal charges are levied. Property Tax: each province and municipality are allowed to apply a reduction ranging from 10% to 30%. Property transfer tax: Deed tax repealed. | ||
| China | Nanjing | CGMR: range from 30% to 60% depending . Rental Income Tax: additionnal charges are levied. Property Tax: each province and municipality are allowed to apply a reduction ranging from 10% to 30%. Transfer tax: ranges from 3%- 5% depending the province. | ||
| China | Ningbo | CGMR: range from 30% to 60% depending . Rental Income Tax: additionnal charges are levied. Property Tax: each province and municipality are allowed to apply a reduction ranging from 10% to 30%. Property transfer tax: Deed tax repealed. | ||
| China | Qingdao | CGMR: range from 30% to 60% depending . Rental Income Tax: additionnal charges are levied. Property Tax: each province and municipality are allowed to apply a reduction ranging from 10% to 30%. Transfer tax: ranges from 3%- 5% depending the province. | ||
| China | Shanghai | CGMR: range from 30% to 60% depending . Rental Income Tax: additionnal charges are levied. Property Tax: each province and municipality are allowed to apply a reduction ranging from 10% to 30%. Transfer tax: ranges from 3%- 5% depending the province. | ||
| China | Shenyang | CGMR: range from 30% to 60% depending . Rental Income Tax: additionnal charges are levied. Property Tax: each province and municipality are allowed to apply a reduction ranging from 10% to 30%. Transfer tax: ranges from 3%- 5% depending the province. | ||
| China | Shenzhen | CGMR: range from 30% to 60% depending . Rental Income Tax: additionnal charges are levied. Property Tax: each province and municipality are allowed to apply a reduction ranging from 10% to 30%. Transfer tax: ranges from 3%- 5% depending the province. | ||
| China | Suzhou | CGMR: range from 30% to 60% depending . Rental Income Tax: additionnal charges are levied. Property Tax: each province and municipality are allowed to apply a reduction ranging from 10% to 30%. Transfer tax: ranges from 3%- 5% depending the province. | ||
| China | Tianjin | CGMR: range from 30% to 60% depending . Rental Income Tax: additionnal charges are levied. Property Tax: each province and municipality are allowed to apply a reduction ranging from 10% to 30%. Transfer tax: ranges from 3%- 5% depending the province. | ||
| China | Wuhan | CGMR: range from 30% to 60% depending . Rental Income Tax: additionnal charges are levied. Property Tax: each province and municipality are allowed to apply a reduction ranging from 10% to 30%. Transfer tax: ranges from 3%- 5% depending the province. | ||
| China | Wuxi | CGMR: range from 30% to 60% depending . Rental Income Tax: additionnal charges are levied. Property Tax: each province and municipality are allowed to apply a reduction ranging from 10% to 30%. Transfer tax: ranges from 3%- 5% depending the province. | ||
| Colombia | Bogota | Property transfer: 1% +0.5% registration fee. Property Tax: Wealth tax is also levied on property. | ||
| Colombia | Cali | PTCP: varies based on activity. Property Tax: Wealth tax is also levied on property. | ||
| Colombia | Medellin | Property Tax: Wealth tax is also levied on property. | ||
| Comoros | Moroni | |||
| Costa Rica | San Jose | |||
| Croatia | Split | PTTRP: citizen first owner cn be exempted. | ||
| Cuba | Havana | |||
| Cyprus | Limassol | Transfer Tax: No tax if VAT was payed on property. | ||
| Cyprus | Nicosia | Transfer Tax: No tax if VAT was payed on property. | ||
| Czech Republic | Prague | Property tax: the calculation included land and building and has many coefficient. | ||
| Denmark | Copenhagen | Property tax: 3% for the portion above $430,000 and 1% below. In addition a 3.4% tax on land value is charged by the municipality of Copenhagen. | ||
| Dominica | Roseau | Transfer tax: an additionnal 10% is charge to foreigners for an Alien Land Holding Licence. | ||
| Dominican republic | Santo Domingo | Property Tax: Wealth tax is also levied on property | ||
| Ecuador | Quito | |||
| Egypt | Cairo | |||
| El Salvador | San Salvador | |||
| Estonia | Tallinn | |||
| Ethiopia | Addis Ababa | |||
| Fiji | Suva | |||
| Finland | Helsinki | Transfer tax: 1st time homebuyer can be exempted. | ||
| France | Nice | Property Tax: wealth tax is levied on property | ||
| France | Paris | Property Tax: wealth tax is levied on property | ||
| Georgia | Tbilisi | |||
| Germany | Berlin | CGMR: incremental, 0% after 10 years | ||
| Germany | Frankfurt | |||
| Germany | Munich | |||
| Gibraltar | Gibraltar | |||
| Greece | Athens | Rental Income Tax: the rates are very similar to the personal Income Tax tax rate. | ||
| Greece | Corfu | |||
| Grenada | Saint George’s | Transfer tax: 15% if non-citizen. There are no tax on capital gains and rental Income Tax, but an Annual Stamp Tax that applies at arate of 0.5% for receipts below $111,000 and 0.75% for receipts above. | ||
| Guatemala | Guatemala City | |||
| Honduras | San Pedro Sula | |||
| Honduras | Tegucigalpa | |||
| Hong Kong | Hong Kong | |||
| Hungary | Budapest | CGMR: Incremental from 100% the first year to 0% after 5 years of holding ownership as main residence. | ||
| Iceland | Reykjavik | Rental Income Tax: additionnal fees are levied on lease, 0.2% for residential and 1% on commercial based on assessment value. | ||
| India | Bangalore | |||
| India | Chennai | |||
| India | Delhi | |||
| India | Hyderabad | |||
| India | Kolkata | |||
| India | Mumbai | |||
| Indonesia | Jakarta | CGMR: no tax on gains but a tax on transaction applies which is included in the transfer tax. | ||
| Iran | Tehran | Property tax: estimated, % of municipal valuation which is significantly lower than the market value. | ||
| Iraq | Baghdad | Property transfer tax: the seller tax is incremental and hit 6% after 90m dinar ($80,000). | ||
| Ireland | Dublin | PTTRP: 2% for any amount above €2M. Rental Income Tax: Stamp duty of 1% is also payable. Property Tax: wealth tax is levied on property | ||
| Isle of Man | Douglas | Property Tax: estimated as calculation are complicated. | ||
| Italy | Milan | Property tax Residential: Consist of 3 tax, TARI (2.24€/m2), UMI (0.6%) and TASI (0.08%) . Property tax Commercial: Consist of 3 tax, TARI (5.23€/m2), UMI (1.06%) and TASI (0.08%). Property Tax: wealth tax is levied on property | ||
| Italy | Rome | Property tax Residential: Consist of 3 tax, TARI (3.8€/m2), UMI (0.5%) and TASI (0.1%) . Property tax Commercial: Consist of 3 tax, TARI (18.23€/m2), UMI (1.06%) and TASI (0.1%). Property Tax: wealth tax is levied on property | ||
| Italy | Venice | |||
| Japan | Tokyo | Property tax: Fixed asset tax and city planning tax. | ||
| Jersey | Saint Helier | Transfer Tax: incremental, can reach up to 9% for amounts above £6M. | ||
| Jordan | Amman | |||
| Kazakhstan | Almaty | |||
| Kazakhstan | Astana | |||
| Kenya | Nairobi | |||
| Kuwait | Kuwait City | |||
| Laos | Vientiane | Property tax: 2 cents/m2 | ||
| Latvia | Riga | Transfer Tax: capped at EUR 42,686. | ||
| Lebanon | Beirut | |||
| Libya | Tripoli | |||
| Liechtenstein | Vaduz | CGMR: increamental and municipal levy applies also. Property Tax: none since levied off the wealth tax. Property transfer tax: none but capital gains on property are paid. | ||
| Lithuania | Vilnius | |||
| Luxembourg | Luxembourg City | Transfer tax: rate include a 50% surcharge from Luxembourg city and 1% transcript tax. Property Tax: wealth tax is levied on property | ||
| Macau | Macau | |||
| Macedonia | Skopje | |||
| Malaysia | Kuala Lumpur | |||
| Malta | Valletta | |||
| Mauritius | Port Louis | |||
| Mexico | Mexico City | |||
| Moldova | Chisinau | TT: obligatory notary fees apply | ||
| Monaco | Monaco | |||
| Mongolia | Ulaanbaatar | |||
| Montenegro | Budva | |||
| Morocco | Casablanca | CGMR: if no profit, than 3% of price. PTRP: 75% sicount on the value if its your residence. An additional 10% is charged for the communal services. Tranfer tax: 4% stamp duty + 1% buyer registration. | ||
| Morocco | Dakhla | CGMR: if no profit, than 3% of price. PTRP: 75% sicount on the value if its your residence. An additional 10% is charged for the communal services. Tranfer tax: 4% stamp duty + 1% buyer registration. | ||
| Netherlands | Amsterdam | Rental Income Tax: assets are assumed to generate annual Income Tax varying from 2.87% to 5.39% (amount exceeding $1M). | ||
| New Zealand | Auckland | Property tax: each area has it own additionnal rates for waste management and an “other targeted rate” to raise money for special projects. Transfer Tax: If the property | ||
| Nicaragua | Managua | |||
| Nigeria | Lagos | |||
| Norway | Oslo | Property Tax: Wealth tax is also levied on property at a rate pf 0.2125% for main residence and 0.7% on others. | ||
| Oman | Muscat | |||
| Pakistan | Karachi | |||
| Pakistan | Lahore | |||
| Panama | Panama City | |||
| Paraguay | Asuncion | |||
| Peru | Lima | |||
| Philippines | Manila | |||
| Poland | Warsaw | |||
| Portugal | Lisbon | Property tax: tax are assessed in a complex manner. Many different variable influence the tax base. | ||
| Qatar | Doha | |||
| Romania | Bucharest | |||
| Russia | Moscow | Property tax: consist of a Land tax (0.% for residential and 1.5% commercial) and a Building tax which is listed. | ||
| Russia | Saint Petersburg | Property tax: consist of a Land tax and a Building tax which is listed. | ||
| Saint Kitts and Nevis | Basseterre | Transfer Tax: 10% for the Land hoding licence + 12 % stamp duty. | ||
| Saint Lucia | Castries | PTRP: citizen over 60y old can be exempted from taxation. PTCP: newly built commercial properties can receive a 3 years tax exemption. Transfer Tax: non citizen pay 10% and need a Alien Land Holding Licence. | ||
| Saudi Arabia | Jeddah | |||
| Saudi Arabia | Riyadh | |||
| Serbia | Belgrade | |||
| Seychelles | Victoria | Property Tax: a tax is in the making and will be imposed on foreign owners. | ||
| Singapore | Singapore | RIRP: the property tax rate for non-owner occupied is higher by 4% (20%-16%) + 0.4% stamp duty on lease. TTRP: roughly at 3% for citizens, 5% for permanent residents. Additionnal residential properties will generate additionnal costs up to 10% more. | ||
| Slovakia | Bratislava | |||
| Slovenia | Ljubljana | |||
| South Africa | Cape Town | Transfer tax: incremental. CGMR: exempted until $150,000, then 40% of it is included in Income Tax tax. | ||
| South Africa | Johannesburg | Transfer tax: incremental. CGMR: exempted until $150,000, then 40% of it is included in Income Tax tax. | ||
| South Korea | Seoul | |||
| Spain | Barcelona | CGMR: No capital gains tax on the amount reinvested in a property. Property Tax: wealth tax is levied on property | ||
| Spain | Madrid | CGMR: No capital gains tax on the amount reinvested in a property. Property Tax: wealth tax is levied on property | ||
| Sri Lanka | Colombo | |||
| St Vincent and The Grenadines | Kingstown | |||
| Sweden | Stockholm | |||
| Switzerland | Geneva | |||
| Switzerland | Lausanne | Property Tax: Those are the complementary rates. Additionnal property tax are paid as an Income Tax tax even if its your home. For occuppant its levied off the cadastral value, the rate is reduced every year by 4% until 40% . Wealth tax is levied on property. CGTMR: Needs to be paid and will be reimbursed if revinvested in another property in Switzerland within 5y. | ||
| Switzerland | Zurich | PTRP: Property tax are paid in the Income Tax tax, its levied as occuppant of the cadastral value. Wealth tax is levied on property. CGTMR: the rate related to the years of possession. | ||
| Syria | Damascus | PTRP: Property tax are paid in the Income Tax tax, its levied as occuppant of the cadastral value. Wealth tax is levied on property. CGTMR: the rate is related to the years of possession and amount of of gains. | ||
| Taiwan | Kaohsiung | CGMR: the first $130,000(4m TWD) are exempted of tax. An additionnal municipal Land Value Increment Tax is raise on the inflation adjusted of the increased of land value at a rate of 20%. PTRP: an additional land tax of 0.2% is levied. PTCP: an additionnal land tax of 1% is levied. Property Tranfer Tax: includes a 0.1% stamp duty. | ||
| Taiwan | Taichung | |||
| Taiwan | Taipei | |||
| Tanzania | Dar es Salaam | |||
| Thailand | Bangkok | |||
| Thailand | Phuket | |||
| Trinidad and Tobago | Port of Spain | |||
| Tunisia | Tunis | |||
| Turkey | Istanbul | |||
| Turks and Caicos Islands | Cockburn Town | |||
| Turks and Caicos Islands | Providenciales | |||
| UAE | Abu Dhabi | Property tax: cash amount estimated based on General Sales of electricity, water and sewage disposale. | ||
| UAE | Dubai | Property tax: cash amount estimated based on General Sales of electricity, water and sewage disposale. | ||
| UK | London | CGTMR: can be taxed if above 5000m2. Rental Income Tax: renting more than 1 property can be deemed a business and business tax may also be levied. PTTRP: Incremental from 0% to 12% (the portion above £1.5 million). | ||
| Ukraine | Kiev | |||
| Uruguay | Montevideo | Property Tax: Wealth tax is also levied on property | ||
| US Virgin Islands | Charlotte Amalie | |||
| USA | Boston | CGMR: at the federal level, exemption can reach $500,000 when filled jointly. But if you are subject to the expatriate tax you are disqualified from exemption. | ||
| USA | Los Angeles | CGMR: at the federal level, exemption can reach $500,000 when filled jointly. But if you are subject to the expatriate tax you are disqualified from exemption. | ||
| USA | Miami | CGMR: at the federal level, exemption can reach $500,000 when filled jointly. But if you are subject to the expatriate tax you are disqualified from exemption. | ||
| USA | New York | CGMR: at the federal level, exemption can reach $500,000 when filled jointly. But if you are subject to the expatriate tax you are disqualified from exemption. Property Tax: we have calculated based condominium property (Class 2), assessment are made on rental value. | ||
| USA | San Francisco | CGMR: at the federal level, exemption can reach $500,000 when filled jointly. But if you are subject to the expatriate tax you are disqualified from exemption. | ||
| Uzbekistan | Tashkent | |||
| Vanuatu | Port Vila | Rental Income Tax: is actually 12.5% but charged only 6 months of rent Income Tax, individuals can exempt 200 000 Vatu. Commercial properties with revenue below 4M Vatu/year pay the same rate as residential. Property Transfer Tax: there is a 2% stamp duty levied on the value of the lease on top of the 5% registration fee. | ||
| Venezuela | Caracas | |||
| Vietnam | Hanoi | |||
| Vietnam | Ho Chi Minh City |
METHODOLOGY
All the data were collected in December 2020.
Price-to-Income Ratio is the basic measure for housing affordability. It is calculated as the ratio of median apartment prices to median familial disposable income, expressed as years of income (although variations are used elsewhere). The lower the ratio is, the better. Our formula assumes net disposable family income is 1.5 times the average net salary (50% is the assumed percentage of women in the workforce) and a median apartment size of 90 square meters. The price per square meter is the average price per square meter of homes in the city center and outside the city center.
Mortgage as Percentage of Income is the monthly mortgage cost relative to average net income. Average monthly salary is used to estimate net income. It assumes a 20-year mortgage on a house (or apartment) of 90 square meters. The price per square meter is the average of housing prices in the city center and outside the city center.
Gross Rental Yield is the total yearly gross rent divided by the house price (expressed as a percentage). The higher it is, the better.
Rent 110m2 is the average monthly rent of a three-bedroom 110m2 apartment in the city center.
Buy 110m2 is the average price per square meter of an apartment in the city centre.
Tax information was collected in January 2021, mostly from each municipality’s website.
Property Tax Residential is the annual tax payable to the municipality on a residential property. It will usually exclude the cost of water and electricity but generally include waste management. Some municipalities don’t directly levy property tax but instead may levy an income tax or a wealth tax on assets. The tax is based on a 110m2 residential property.
Property Tax Commercial is the annual tax payable to the municipality on a commercial property. (In this case, we used office space.) This tax will usually exclude water & electricity consumption but generally include waste management. Some municipalities don’t directly levy property tax but instead may levy an income tax or a wealth tax on assets. The tax is based on a 50m2 residential property or 1m USD market price.
Transfer Tax Residential Property, also referred to as Stamp Duty, is the fee levied on the transfer of a residential property. In this case, the home is inhabited as the principal residence and is transferred after 5 years of ownership. The % amount includes both the buyer and seller fees. Fees can be paid in numerous forms such as a tax, stamp duty, and registration fees. The amount excludes notary fees, agent fees, and documents fees. The estimated tax is based on the price of a 110m2 residential property.
Transfer Tax Commercial Property, also referred to as Stamp Duty, is the fee levied on the transfer of a commercial property. We assume that the office space and is transferred after 5 years of ownership. The % amount includes both the buyer and seller fees. Fees can be paid in numerous forms such as a tax, stamp duty, and registration fees. The amount excludes notary fees, agent fees, and document fees. The estimated tax is based on the price of a 50m2 office space property or 1m USD in value.
Rental Income Tax on Residential Property is the tax payable on the annual income earned from leasing a residential property as an individual. The amount does not include a deductible. Entries labelled with “Income tax” means the tax is based on your income tax bracket (refer to our Taxation Index).
Rental Income Tax on Commercial Property is the tax payable on the annual income earned from leasing a commercial property as an individual. The amount generally does not include a deductible. Entries labelled with “Income tax” are based on your income tax bracket (refer to our Taxation Index).
Capital Gain Tax on Main Residence is the tax payable on the gain made from the sale of one’s main residence after 5 years of holding. It’s the sale price minus the original purchase price but does not include other deductibles.
Source
The information related to real estate (excluding tax) was taken from Numbeo.com.
Tax information was taken from municipal websites, or in some cases from Doing Business.