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RCG Real Estate Index

Last updated on March 8th, 2022 at 03:32 pm

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

NOTES

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.

RCG Real Estate Index

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RCG GLOBAL REAL ESTATE INDEX 2021

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