THE STC 2017 REAL ESTATE INDEX
 

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REAL ESTATE INDEX
REPORT
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RankCOUNTRYCITYREIndexPrice to Income TaxMortgage as % of Income TaxGross Rental YieldRent 3 bedrooms CityPrice 110m2Property Tax Residential(Home)Property Tax CommercialTransfer Tax Residential Property Transfer Tax Commercial Property ($1MUSD)Rental Income Tax on Residential PropertyRental Income Tax on Commercial PropertyCapital Gain Tax on Main Residence
1LibyaTripoli0.965.0442%13.78%$1145$983300%0%0%0%10%10%10%
2OmanMuscat0.953.628%8.74%$1760$2514450%0%0%0%5%5%0%
3Saudi ArabiaRiyadh0.952.4118%9.02%$820$1238680%0%0%0%20%20%0%
4Saudi ArabiaJeddah0.943.5229%8.03%$764$1279440%0%0%0%20%20%0%
5BahrainManama0.93.8733%11.82%$1600$18240110% of rental Income Tax10% of rental Income Tax1.7%1.7%0%0%0%
6TanzaniaDar es Salaam0.8710.07184%13.7%$1525$1308130.15%0.15%1%1%10%10%10%
7BoliviaLa Paz0.8612.36113%5.9%$577$1195300.115369%0.115369%3%3%13%13%0%
8BulgariaSofia0.869.1977%5.35%$551$137554730$+0.5515%730$+0.5515%2.5%2.5%10%10%0%
9Turks and Caicos IslandsProvidenciales0.859.4781%6.11%$2500$4400000%0%6.5%6.5%0%0%0%
10Cayman IslandsGeorge Town0.853.8231%16.7%$3108$2590280%0%7.5%7.5%0%0%0%
11RomaniaBucharest0.8510.9186%5.28%$643$1633180.26%1%1.5%1.5%16%16%0%
12EgyptCairo0.8511.5152%7.12%$295$5089810% of rental value10% of rental value2.5%2.5%1/2 of Income Tax1/2 of Income Tax0%
13UAEAbu Dhabi0.844.7937%10.15%$3632$4536253% of rental Value3% of rental value2%2%0%0%0%
14QatarDoha0.846.3649%9.33%$3571$4919970%0%0%0%10%10%0%
15Costa RicaSan Jose0.839.67116%8.42%$1080$1722940.25%0.25%1.5%1.5%Income TaxIncome Tax0%
16LatviaRiga0.8310.5971%4.99%$710$1899380.6%1.5%2%*2%*10%10%0%
17ParaguayAsuncion0.8310.05142%7.31%$498$857631%1%1.8%1.8%Income TaxIncome TaxIncome Tax
18Isle of ManDouglas0.835.8753%5.92%$1627$3300000.4%*0.4%*0%0%20%20%0%
19NicaraguaManagua0.833.8639%17.74%$532$398751%1%4%4%10%10%30%
20GeorgiaTbilisi0.8312.54156%7.96%$532$845861%1%0%0%Income TaxIncome Tax0%
21GuatemalaGuatemala City0.837.891%8.73%$931$1358400.9%0.9%3%3%7%7%10%
22LiechtensteinVaduz0.823.5141%6.92%$2162$3982000%*0%*0%*0%*Income TaxIncome Tax12.5%*
23LaosVientiane0.8228.44245%9.19%$1538$1650000%*0%*1%1%10%10%5%
24HondurasSan Pedro Sula0.829.1120%7.19%$550$999900.35%0.35%1.5%1.5%Income TaxIncome Tax10%
25HondurasTegucigalpa0.829.95118%7.14%$547$1045000.35%0.35%1.5%1.5%Income TaxIncome Tax10%
26Cape VerdePraia0.8121.2229%5.38%$504$1052220.31875%0.31875%1.5%1.5%Income TaxIncome Tax1%
27IcelandReykjavik0.816.663%7.77%$2391$4405520.2%1.65%0.2%1.65%12.5%*12.5%*0%
28HungaryBudapest0.811.7295%5.13%$803$204408$6.37/m2$6.37/m24%4%16%16%0%*
29SlovakiaBratislava0.811.2768%4.79%$1028$286022€7/m2 + 1.15% of land value€15/m2 + 1.15% of land value0%0%Income TaxIncome Tax0%
30CambodiaPhnom Penh0.821.27224%8.52%$1364$1680310.1%0.1%4%4%10%10%0%
31MongoliaUlaanbaatar0.7914.5180%10.81%$1633$1501231%1%2%2%10%10%2%
32BahamasNassau0.794.3741%16.93%$2100$1539240.625%*1.5%*10%10%0.5% of rental Income Tax*0.5% of rental Income Tax*0%
33KuwaitKuwait City0.7913.28108%3.54%$1981$7212650%0%0%0%0%0%0%
34MalaysiaKuala Lumpur0.798.9268%5.21%$998$2551384% of rental value10% of rental value3%3%Income TaxIncome Tax0%
35AzerbaijanBaku0.7919.94231%5.6%$715$1416280.4%0.4%0%0%25%25%0%
36CyprusNicosia0.785.0938%5.68%$702$1792030%0%5.28%5.28%Income Tax+ 3%Income Tax+ 3%20%*
37Saint LuciaCastries0.784.1650%8.55%$981$1375005% of rental value0.25%*5%*5%*Income Tax + 2% of contract valueIncome Tax + 2% of contract value0%
38EcuadorQuito0.7815.2188%6.58%$787$1626430.65%0.65%1%1%Income TaxIncome Tax10%
39KazakhstanAlmaty0.7812.41222%5.38%$725$1603351.5%1.5%0%0%10%10%0%
40El SalvadorSan Salvador0.7814.47154%6.16%$465$109626$230$2303%3%Income TaxIncome Tax10%
41Antigua and BarbudaSaint John's0.778.2102%6.26%$1148$2200000.3%0.5%10%10%0%0%0%
42UAEDubai0.775.7643%9.39%$3979$5383065% of rent valuation*5% of rent valuation*4%4%0%0%0%
43Czech RepublicPrague0.7614.3887%3.51%$1018$3931243.5$/m2*15$/m2*4%4%15%15%0%
44PeruLima0.7614.79181%6.16%$1072$2373711%1%3.3%3.3%5%5%5%
45CroatiaSplit0.7617.87147%2.43%$593$3355810%0%5%*5%12%12%0%
46ColombiaCali0.7512.36165%5.92%$335$803060.6%*0.7%*3.5%3.5%Income TaxIncome Tax0%
47TurkeyIstanbul0.7512.41166%4.66%$842$2383780.6%0.6%4%4%1/2 of Income Tax1/2 of Income Tax0%
48US Virgin IslandsCharlotte Amalie0.755.6841%5.67%$1833$3861550.38%0.71%2%2%Income TaxIncome Tax20%
49RussiaSaint Petersburg0.7414.44205%5.26%$1094$2679181%2.2%$1000$100013%13%0%
50TunisiaTunis0.7412.11115%4.6%$365$1020480.3%1.5%5%5%70% of Income Tax70% of Income Tax10%
51SeychellesVictoria0.7328.34284%21.98%$1536$940360%*0%*6.5%6.5%25%*25%*0%
52BarbadosBridgetown0.7314.53166%3.86%$1161$3611300.45%*0.7%3.5%*3.5%*15%15%0%
53Turks and Caicos IslandsCockburn Town0.726.6735%8.1%$1500$2200000%0%10%10%0%0%0%
54MexicoMexico City0.719.92123%6.65%$936$1688461.2%1.2%3%3%Income Tax - 35%Income Tax - 35%0%
55PakistanKarachi0.718.5115%6.33%$393$7458818% of rental value18% of rental value7.5%7.5%20%20%0%
56IrelandDublin0.77.9457%6.14%$2459$5424000.15%0.15%1%*2%Income Tax*Income Tax*0%
57FijiSuva0.77.7870%18.81%$2522$1431732.47%2.47%3%3%Income TaxIncome Tax0%
58MoroccoDakhla0.724252%5.9%$650$13200017.5% of rental value*40% of rental value5%*5%*0%*0%*0%*
59JordanAmman0.698.482%7.02%$739$14390015% of rental value15% of rental value9%9%Income TaxIncome Tax0%
60CanadaMontreal0.696.5543%5.18%$1393$3494150.8265%3.654%1.5%*1.5%*Income TaxIncome Tax0%
61CanadaToronto0.698.4655%5.09%$2099$5611670.688%2.64%1.25%*1.25%*Income TaxIncome Tax0%
62DominicaRoseau0.696.552%12.9%$740$687501.25%1.25%10%*10%*Income TaxIncome Tax0%
63GrenadaSaint George's0.6811.67120%8.18%$925$1424582.5%4%5%*5%*0.5%*0.5*0.75%*
64New ZealandAuckland0.689.8677%4.22%$2271$711285$350+ 0.25%*$400+ 0.694%*0%*Capital gains are taxed at 28%Income TaxIncome Tax0%
65PakistanLahore0.6813.61172%3.07%$324$12488918% of rental value18% of rental value7.5%7.5%20%20%0%
66ChileSantiago0.6812.0294%4.65%$886$2423991.168%1.229%0.2%0.2%Income TaxIncome Tax50% of Income Tax
67NetherlandsAmsterdam0.6810.1264%5.11%$2432$6458640.049% + €4400.17265% + €4402%6%30%*30%*0%
68AndorraAndorra la Vella0.688.4544%3.51%$1479$414195$882.65$551284%*4%13%13%0%*
69VanuatuPort Vila0.6834306%7.17%$1117$1870005.5% of rental valuation5.5% of rental valuation7%7%6.25%*12.5%0%
70South KoreaBusan0.688.5461%2.55%$1112$5329180.7%0.7%5%5%Income TaxIncome Tax0%
71ColombiaMedellin0.6816.07221%4.28%$351$1133321.5%*1.5%*2%2%Income TaxIncome Tax0%
72ColombiaBogota0.6721.31316%4.67%$669$2001270.65%*0.95%*1.5%*1.5%*Income TaxIncome Tax0%
73IraqBaghdad0.678.83153%4.89%$869$22449610% of rental value10% of rental value9%*9%*20%20%0%
74Dominican republicSanto Domingo0.6713.83183%7.71%$844$1283161%*1%*3%3%27%27%25%
75South AfricaJohannesburg0.672.833%11.53%$951$1023000.6916%1.7982%11%*11%*Income TaxIncome Tax0%*
76IndonesiaJakarta0.6716.51202%5.76%$1694$3007040.2%0.2%10%10%10%10%0%*
77PanamaPanama City0.6712.66105%11.5%$1983$2428602.1%2.1%2%2%10%
78ThailandBangkok0.6619.92162%4.2%$1818$43978012.5% of rental value12.5% of rental value3%3%Income Tax - 30%Income Tax - 30%0%
79IranTehran0.6615.04305%6.64%$1148$2178550.2%*`0.5%*5%5%Income TaxIncome Tax0%
80PhilippinesManila0.6513.6147%6.5%$1197$2063692%2%1.5%1.5%0%
81VietnamHo Chi Minh City0.6421.67224%4.84%$1043$2568030.15%0.15%0.5%0.5%Income TaxIncome TaxIncome Tax
82UruguayMontevideo0.6419.49198%4.67%$923$2697060.5%*0.5%*4%4%10.5%10.5%12%
83NigeriaLagos0.6410.64217%10.76%$1307$1362430.132%0.132%15%15%10%10%10%
84IndiaChennai0.6412.41150%2.27%$452$22368412.4% of rental value12.4% of rental value8%8%Income TaxIncome Tax0%
85British Virgin IslandsRoad town0.649.2960%6.15%$2650$51700050$+1.5% of rental value50$+1.5% of rental value12%12%1.5%1.5%0%
86MauritiusPort Louis0.649.33100%5.07%$632$16994728% of rental value28% of rental value10%10%15%15%0%
87USALos Angeles0.645.8842%8.14%$3498$5650821.205%1.205%0.56%0.56%Income TaxIncome Tax20%
88CanadaVancouver0.6313.1786%4.04%$2581$7959580.3166%1.386%2%*2%*Income TaxIncome Tax0%
89GreeceAthens0.6310.3380%4.32%$505$15839715€/m2 + 0.5%20€/m2 + 1%3.75%3.75%Income Tax*Income Tax*0%
90IndiaHyderabad0.636.9884%4.44%$369$9213630% of rental value30% of rental value8%8%Income TaxIncome Tax0%
91PortugalLisbon0.6314.3492%4.25%$1276$3838800.8%*1.5%*6%6.5%28%28%0%
92BrazilBrasilia0.6215.76208%3.37%$960$3269870.3%1%3%3%Income TaxIncome TaxIncome Tax
93TaiwanKaohsiung0.627.3945%1.83%$573$4016901.2%*3%*6.1%*6.1%*Income TaxIncome Tax10%*
94LebanonBeirut0.6215.25141%5.87%$2363$50023114% of rental value14% of rental value6%6%10%10%10%
95UkraineKiev0.6222.91531%5.48%$688$1678991%2.7%1%1%19.5%19.5%0%
96AustraliaBrisbane0.626.9753%5.49%$2354$5796820.5654%*2.4229%*3.75%3.75%Income TaxIncome Tax0%
97ComorosMoroni0.6241587%4.36%$200$550003000F1%15%15%15%15%20%
98AnguillaThe Valley0.614.3256%8.07%$1600$2378200.75%0.75%17.5%*17.5%*$2500*$2500*0%
99UzbekistanTashkent0.6116.46274%6.97%$731$1292502.5%5%0%*0%*7.5%7.5%Income Tax
100GermanyBerlin0.618.9954%3.6%$1418$5096482.835% of land value2.835% of land value6%6%Income TaxIncome Tax12%*
101South AfricaCape Town0.616.0172%7.94%$1515$2278980.6397%1.2795%11%*11%*Income TaxIncome Tax0%*
102IndiaBangalore0.618.1896%3.46%$543$17532120% of rental value25% of rental value10%10%Income TaxIncome Tax0%
103BangladeshChittagong0.618.33127%4.02%$325$8387412% of rental value12% of rental value8%9.5%Income TaxIncome Tax15%
104BermudaHamilton0.66.0756%11.43%$6813$71041912% of rent value*7% of rental value4%*4%*8%*8%*0%
105RussiaMoscow0.620.92296%4.01%$1791$5730681.4%*2.2%*$1000$100013%13%0%
106AustraliaMelbourne0.597.6257%4.74%$2294$6534910.6665%*1.1211%*5.5%5.5%Income TaxIncome Tax0%
107IndiaDelhi0.5915.04182%2.41%$610$28574720% of rental value20% of rental value8%8%Income TaxIncome Tax0%
108FinlandHelsinki0.5910.460%3.28%$1949$7499900.37%0.8%4%*4%34%34%0%
109IndiaKolkata0.5811.16130%3.64%$418$13207340% of rental value40% of rental value7%7%Income TaxIncome Tax0%
110DenmarkCopenhagen0.588.3653%5.28%$2428$602996340$+3.4% of land value340$+3.4% of land value0.6%0.6%Income TaxIncome Tax0%
111ChinaChongqing0.586.3148%4.12%$400$1280901.2%*4%*3%*5%*Income Tax*Income Tax*30%*
112MaltaValletta0.5827.43222%2.1%$1291$8283910%0%5%5%15%15%0%
113ChinaChangsha0.585.3542%4.16%$473$1444891.2%*4%*3%*5%*Income Tax*Income Tax*30%*
114AlgeriaAlgiers0.5727.24226%2.56%$583$2668863% of rental value*5% of rent value*5%5%10%15%12.225%
115USAMiami0.576.4748%7.69%$3346$5650021.28%1.35%6%6.45%Income TaxIncome Tax20%
116Sri LankaColombo0.5722.94316%5.67%$826$15678235% of rental value35% of rental value4%4%18%18%0%
117NorwayOslo0.5710.4866%3.46%$2274$9144060.2%0.3%0.7%2.5%24%24%24%
118BangladeshDhaka0.5614.06192%3.16%$427$14133212% of rental value12% of rental value8%9.5%Income TaxIncome Tax15%
119EthiopiaAddis Ababa0.5621.51270%11.23%$1613$1125935$5%6%6%Income TaxIncome Tax15%
120ItalyMilan0.5617.1113%2.84%$2254$9613482.24€/m2+0.68%*5.23€/m2 + 1.14%*2%3%15%15%0%
121BrazilRio de Janeiro0.5620.85272%4.66%$1419$3827291.0658%1.0658%2%2%Income TaxIncome TaxIncome Tax
122BrazilSao Paulo0.5618.99253%4.37%$1160$3457631.015%1.5%3%3%Income TaxIncome TaxIncome Tax
123MoroccoCasablanca0.5614.58120%4.81%$800$21207517.5% of rental value*40% of rental value5%*5%*Income TaxIncome Tax20%*
124ChinaShenyang0.5511.696%3.95%$419$1521061.2%*4%*3%*5%*Income Tax*Income Tax*30%*
125VietnamHanoi0.5437.15388%3.65%$1026$3294720.15%0.15%0.5%0.5%Income TaxIncome TaxIncome Tax
126ChinaFoshan0.5410.1379%3.52%$631$2001401.2%*4%*3%*5%*Income Tax*Income Tax*30%*
127TaiwanTaichung0.5418.02115%1.42%$646$5531611.2%*3%*6.1%*6.1%*Income TaxIncome Tax10%*
128BrazilBelo Horizonte0.5318.46264%4.04%$714$2323051.97%1.97%3%3%Income TaxIncome TaxIncome Tax
129LuxembourgLuxembourg City0.5311.771%3.85%$2623$9038341.75% of rental evaluation7.5% of rental evaluation10%*11.8%*Income TaxIncome Tax0%
130ArgentinaBuenos Aires0.5213.41332%3.68%$796$2795770.95%*0.95%*5.3%5.3%35%35%0%
131ItalyRome0.5221.52141%2.49%$2124$10628093.8€/m2 + 0.6%*18.23€/m2 + 1.16%*2%3%15%15%0%
132SwitzerlandLausanne0.5210.7464%2.87%$1105$12737810.15%*0.15%*3.3%3.3%Income TaxIncome Tax14%
133Saint Kitts and NevisBasseterre0.5212.5164%6.54%$2100$3850000.2%0.3%22%*22%*0%0%0%
134BelgiumBrussels0.517.4247%5.33%$1632$3863851.62% of Rental Income Tax*1.62% of Rental Income Tax*12.5%12.5%Income Tax*Income Tax*0%
135JerseySaint Helier0.514.42106%4.11%$2942$8430851.85 % of Rateable value2.40% of Rateable value2.5%*2.5%*20%20%0%
136ChinaChengdu0.512.97103%2.6%$626$2849991.2%*4%*3%*5%*Income Tax*Income Tax*30%*
137GermanyFrankfurt0.58.8455%3.61%$1734$6227731.75%1.75%6%6%Income TaxIncome Tax12%*
138ChinaWuxi0.4919.03164%3.85%$873$2161511.2%*4%*3%*5%*Income Tax*Income Tax*30%*
139USABoston0.497.755%5.49%$4060$10147941.059%2.537%0.456%0.456%Income TaxIncome Tax20%
140ChinaNingbo0.4923.88174%2.38%$655$3662561.2%*4%*0%*5%*Income Tax*Income Tax*30%*
141FranceNice0.4911.6275%3.08%$1485$63115525.54% of rental valuation*35.54% of rental valuation*5.81%5.81%27.57%27.57%0%
142AustriaVienna0.4913.7283%2.58%$1684$8006150.6%1.2%3.5%3.5%Income Tax*Income Tax*0%
143SwitzerlandGeneva0.4810.864%3.18%$3791$14399260.1%*0.2%*3%3%Income TaxIncome Tax0%*
144South KoreaSeoul0.4818.07124%2.13%$2232$11434030.68%0.68%5%5%Income TaxIncome Tax0%
145ChinaWuhan0.4812.2398%2.21%$691$3736331.2%*4%*3%*5%*Income Tax*Income Tax*30%*
146MacauMacau0.4830.12201%1.56%$1967$121256110% of rental value16% of rental value3%3%12%12%0%
147ChinaHangzhou0.4719.13156%2.44%$1019$4936781.2%*4%*0%*5%*Income Tax*Income Tax*30%*
148SwitzerlandZurich0.4610.0558%2.96%$3439$15230000%*0%*0.15%0.15%Income TaxIncome Tax35%
149TaiwanTaipei0.4615.1292%1.59%$1299$9376361.2%*3%*6.1%*6.1%*Income TaxIncome Tax10%*
150SpainMadrid0.4411.2268%4.1%$1493$4818920.51%*0.985%*6%6%Income TaxIncome Tax0%*
151ChinaSuzhou0.4418.08143%2.35%$781$4554291.2%*4%*3%*5%*Income Tax*Income Tax*30%*
152GermanyMunich0.4412.4672%2.91%$2074$9295611.8725%1.8725%3.5%3.5%Income TaxIncome Tax12%*
153ChinaQingdao0.4325166%2.79%$1048$4002791.2%*4%*3%*5%*Income Tax*Income Tax*30%*
154AustraliaSydney0.4312.3794%4.18%$3634$11405110.9935%*1.8712%*4.05%4.05%Income TaxIncome Tax0%
155SwedenStockholm0.4215.4792%2.66%$2156$11181590.75%*1%4.25%4.25%30%30%22%
156AngolaLuanda0.4120.92290%7.88%$7250$99000015% of rent paid15% of rent paid2%2%15%*15%0%
157ChinaTianjin0.425.12218%2.53%$1063$4740351.2%*4%*3%*5%*Income Tax*Income Tax*30%*
158USASan Francisco0.3712.1386%6.28%$6574$13353441.18%1.18%0.86%0.86%Income TaxIncome Tax20%
159SpainBarcelona0.3711.8376%4.02%$1381$4719460.75%*1%*10%10%Income TaxIncome Tax0%*
160ChinaNanjing0.3724.29192%1.83%$946$6404481.2%*4%*3%*5%*Income Tax*Income Tax*30%*
161ChinaGuangzhou0.3425.1214%2.13%$1246$7084951.2%*4%*3%*5%*Income Tax*Income Tax*30%*
162SingaporeSingapore0.3221.2132%2.74%$3989$185991916% of rental valuation10% of rental Income Tax5%*3%Income Tax + 4.4%*Income Tax + 0.4%0%
163FranceParis0.3216.65103%2.64%$2378$112137335.86% of Rental valuation*45.86% of Rental valuation*5.81%6.41%27.57%27.57%0%
164JapanTokyo0.2920.03114%1.93%$2729$16209861.55%*1.7%*3%4%Income TaxIncome Tax20%
165USANew York0.2712.6792%5.1%$5736$14246131.925%1.925%2.82%2.82%Income TaxIncome Tax20%
166KenyaNairobi0.2360.991082%1.35%$982$7664320.6%0.6%4%4%10%Income Tax0%
167IndiaMumbai0.2233.21389%1.96%$1491$81548038.67% of rental value68.33% of rental value10%10%Income TaxIncome Tax0%
168ChinaBeijing0.1633.69269%2.18%$2465$12956461.2%*4%*3%*5%*Income Tax*Income Tax*30%*
169SyriaDamascus0.1537.75360%3.16%$416$16771450% of rental value60% of rental value25%25%Income TaxIncome Tax15%
170ChinaShanghai0.1432.59262%1.99%$2462$13943071.2%*4%*3%*5%*Income Tax*Income Tax*30%*
171Hong KongHong Kong0.1136.36227%2.24%$4996$26370800%0%4.25%8.5%15%15%0%
172UK London0.0827.09186%2.48%$3928$2065575£1862.400.46% X £400/m210%5%Income TaxIncome Tax0%
173SyriaAleppo0.0653.57620%3.27%$200$7700050% of rental value60% of rental value25%25%Income TaxIncome Tax15%
174ChinaShenzhen0.0543.96355%1.29%$1762$16079801.2%*4%*3%*5%*Income Tax*Income Tax*30%*
175MonacoMonaco049.69338%2.75%$19365$62129310%0%6.5%7.5%1%1%0%
176VenezuelaMaracaibo01635400%3.28%$300$1100000.48%0.48%1.1%1.1%Income TaxIncome Tax0%
177VenezuelaCaracas02525857%3.3%$401$1906660.48%0.48%1.1%1.1%Income TaxIncome Tax0%

Real Estate Notes

COUNTRYCITYNote Real Estate
AlgeriaAlgiersTTRP: 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%
AndorraAndorra la VellaTTRP: 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
AngolaLuandaRITRP: Property tax are none if rented, as it is payed by rental Income Tax.
AnguillaThe ValleyRental 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 BarbudaSaint John's
ArgentinaBuenos AiresProperty Tax: Wealth tax is also levied on property
AustraliaBrisbane
AustraliaMelbourne
AustraliaSydney
AustriaVienna
AzerbaijanBaku
BahamasNassau
BahrainManama
BangladeshChittagong
BangladeshDhaka
BarbadosBridgetownTransfer Tax: includes transfer tax and stamp duty of 1%.
BelgiumBrussels
BermudaHamiltonTransfer 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.
BoliviaLa Paz
BrazilBelo Horizonte
BrazilBrasilia
BrazilRio de Janeiro
BrazilSao Paulo
British Virgin IslandsRoad town
BulgariaSofia
CambodiaPhnom Penh
CanadaMontrealProperty Transfer Tax: raise up to 2.5% for amounts above CAD 1M. First time home howner can have that amount remboursed.
CanadaTorontoProperty Transfer Tax: varies between 0.5% to 1.5%
CanadaVancouver Property Transfer Tax: varies from 1% to 3%. BC now levies a 15% surtax on foreign buyers.
Cape VerdePraia
Cayman IslandsGeorge Town
ChileSantiago
ChinaBeijingCGMR: 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.
ChinaChangshaCGMR: 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.
ChinaChengduCGMR: 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.
ChinaChongqingCGMR: 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.
ChinaFoshanCGMR: 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.
ChinaGuangzhouCGMR: 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.
ChinaHangzhouCGMR: 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.
ChinaNanjingCGMR: 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.
ChinaNingboCGMR: 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.
ChinaQingdaoCGMR: 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.
ChinaShanghaiCGMR: 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.
ChinaShenyangCGMR: 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.
ChinaShenzhenCGMR: 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.
ChinaSuzhouCGMR: 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.
ChinaTianjinCGMR: 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.
ChinaWuhanCGMR: 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.
ChinaWuxiCGMR: 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.
ColombiaBogotaProperty transfer: 1% +0.5% registration fee. Property Tax: Wealth tax is also levied on property.
ColombiaCaliPTCP: varies based on activity. Property Tax: Wealth tax is also levied on property.
ColombiaMedellinProperty Tax: Wealth tax is also levied on property.
ComorosMoroni
Costa RicaSan Jose
CroatiaSplitPTTRP: citizen first owner cn be exempted.
CyprusNicosiaCGMR: €85,430 can be exempted from gains.
Czech RepublicPragueProperty tax: the calculation included land and building and has many coefficient.
DenmarkCopenhagenProperty 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.
DominicaRoseauTransfer tax: an additionnal 10% is charge to foreigners for an Alien Land Holding Licence.
Dominican republicSanto DomingoProperty Tax: Wealth tax is also levied on property
EcuadorQuito
EgyptCairo
El SalvadorSan Salvador
EthiopiaAddis Ababa
FijiSuva
FinlandHelsinkiTransfer tax: 1st time homebuyer can be exempted.
FranceNiceProperty Tax: wealth tax is levied on property
FranceParisProperty Tax: wealth tax is levied on property
GeorgiaTbilisi
GermanyBerlinCGMR: incremental, 0% after 10 years
GermanyFrankfurt
GermanyMunich
GreeceAthensRental Income Tax: the rates are very similar to the personal Income Tax tax rate.
GrenadaSaint George'sTransfer 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.
GuatemalaGuatemala City
HondurasSan Pedro Sula
HondurasTegucigalpa
Hong KongHong Kong
HungaryBudapestCGMR: Incremental from 100% the first year to 0% after 5 years of holding ownership as main residence.
IcelandReykjavikRental Income Tax: additionnal fees are levied on lease, 0.2% for residential and 1% on commercial based on assessment value.
IndiaBangalore
IndiaChennai
IndiaDelhi
IndiaHyderabad
IndiaKolkata
IndiaMumbai
IndonesiaJakartaCGMR: no tax on gains but a tax on transaction applies which is included in the transfer tax.
IranTehranProperty tax: estimated, % of municipal valuation which is significantly lower than the market value.
IraqBaghdadProperty transfer tax: the seller tax is incremental and hit 6% after 90m dinar ($80,000).
IrelandDublinPTTRP: 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 ManDouglasProperty Tax: estimated as calculation are complicated.
ItalyMilanProperty 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
ItalyRomeProperty 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
JapanTokyoProperty tax: Fixed asset tax and city planning tax.
JerseySaint HelierTransfer Tax: incremental, can reach up to 9% for amounts above £6M.
JordanAmman
KazakhstanAlmaty
KenyaNairobi
KuwaitKuwait City
LaosVientianeProperty tax: 2 cents/m2
LatviaRigaTransfer Tax: capped at EUR 42,686.
LebanonBeirut
LibyaTripoli
LiechtensteinVaduzCGMR: 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.
LuxembourgLuxembourg CityTransfer tax: rate include a 50% surcharge from Luxembourg city and 1% transcript tax. Property Tax: wealth tax is levied on property
MacauMacau
MalaysiaKuala Lumpur
MaltaValletta
MauritiusPort Louis
MexicoMexico City
MonacoMonaco
MongoliaUlaanbaatar
MoroccoCasablancaCGMR: 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.
MoroccoDakhlaCGMR: 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.
NetherlandsAmsterdamRental Income Tax: assets are assumed to generate annual Income Tax varying from 2.87% to 5.39% (amount exceeding $1M).
New ZealandAucklandProperty 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
NicaraguaManagua
NigeriaLagos
NorwayOsloProperty Tax: Wealth tax is also levied on property at a rate pf 0.2125% for main residence and 0.7% on others.
OmanMuscat
PakistanKarachi
PakistanLahore
PanamaPanama City
ParaguayAsuncion
PeruLima
PhilippinesManila
PortugalLisbonProperty tax: tax are assessed in a complex manner. Many different variable influence the tax base.
QatarDoha
RomaniaBucharest
RussiaMoscowProperty tax: consist of a Land tax (0.% for residential and 1.5% commercial) and a Building tax which is listed.
RussiaSaint PetersburgProperty tax: consist of a Land tax and a Building tax which is listed.
Saint Kitts and NevisBasseterreTransfer Tax: 10% for the Land hoding licence + 12 % stamp duty.
Saint LuciaCastriesPTRP: 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 ArabiaJeddah
Saudi ArabiaRiyadh
SeychellesVictoriaProperty Tax: a tax is in the making and will be imposed on foreign owners.
SingaporeSingaporeRIRP: 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.
SlovakiaBratislava
South AfricaCape TownTransfer tax: incremental. CGMR: exempted until $150,000, then 40% of it is included in Income Tax tax.
South AfricaJohannesburgTransfer tax: incremental. CGMR: exempted until $150,000, then 40% of it is included in Income Tax tax.
South KoreaBusan
South KoreaSeoul
SpainBarcelonaCGMR: No capital gains tax on the amount reinvested in a property. Property Tax: wealth tax is levied on property
SpainMadridCGMR: No capital gains tax on the amount reinvested in a property. Property Tax: wealth tax is levied on property
Sri LankaColombo
SwedenStockholm
SwitzerlandGenevaProperty 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.
SwitzerlandLausannePTRP: 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.
SwitzerlandZurichPTRP: 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.
SyriaAleppo
SyriaDamascus
TaiwanKaohsiungCGMR: 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.
TaiwanTaichungCGMR: 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.
TaiwanTaipeiCGMR: 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.
TanzaniaDar es Salaam
ThailandBangkok
TunisiaTunis
TurkeyIstanbul
Turks and Caicos IslandsCockburn Town
Turks and Caicos IslandsProvidenciales
UAEAbu Dhabi Property tax: cash amount estimated based on General Sales of electricity, water and sewage disposale.
UAEDubai 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).
UkraineKiev
UruguayMontevideoProperty Tax: Wealth tax is also levied on property
US Virgin IslandsCharlotte Amalie
USABostonCGMR: 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.
USALos AngelesCGMR: 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.
USAMiamiCGMR: 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.
USANew YorkCGMR: 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.
USASan FranciscoCGMR: 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.
UzbekistanTashkent
VanuatuPort VilaRental 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.
VenezuelaCaracas
VenezuelaMaracaibo
VietnamHanoi
VietnamHo Chi Minh City

The 2017 STC Real Estate Index ranks world cities based on the stability, affordability and level of taxation of their property market. Our ranking has been extended this year to include 177 world cities. We list the estimated average rental and purchase price of a 110-square-meter residential property and all the taxes involved for both residential and commercial properties.

As much as we want to compare one property market to another, let it be known that the average apartment in Paris can be very different from that of the average apartment in Moroni, in the Comoros, for example. Certain things cannot be input into the calculation, such as the quality of the building material, the degradation, and the architectural value.

Data taken from Numbeo.com

The information was taken in the last week of January 2017.

Numbeo is a survey site where users can input data.

Price to Income Ratio is the basic measure for apartment purchase affordability (lower is better). It is generally calculated as the ratio of median apartment prices to median familial disposable income, xpressed as years of income (although variations are used also elsewhere). Our formula assumes and uses: net disposable family income, as defined as 1.5 * the average net salary (50% is the assumed percentage of women in the workforce) median apartment size is 90 square meters price per square meter (the formula uses) is the average price per square meter in the city center and outside of city center

Mortgage as Percentage of Income is the ratio of the actual monthly cost of the mortgage to take-home family income (lower is better).

Average monthly salary is used to estimate family income. It assumes 100 percent of the mortgage is taken on 20 years for the house(or apartment) of 90 square meters,in which price per square meter is the average of the price in the city center and outside of the city center.

Gross Rental Yield is the total yearly gross rent divided by the house price (expressed in percentages). Higher is better.

Rent 110m2 is the average monthly price of renting a 110-square-meter three-bedroom apartment in the city center.

Buy 110m2 is the average price per square meter to buy an apartment in the city centre.

Tax information

Tax information was taken during the month of January 2017 mostly from the municipalities’ websites. You can access each reference by downloading the data.

Property Tax Residential(Home)is the annual tax levied by the municipality of a home inhabited as a main residence. It will usually exclude water and electricity consumption, but generally include waste management. Some municipalities don’t levy property tax but might levy an income tax, or the central government might tax property as a wealth tax. The estimated tax is based on the price of a 110-square-meter residential property.

Property Tax Commercial is the annual tax levied by the municipality on commercial office space, usually defined as a financial service activity. Will usually exclude water & electricity consumption, but generally include waste management. Some municipality don’t levy property tax but might levy an income tax or central government might tax property as a wealth tax. The estimated tax is based on the price of 50m2 residential property or 1m USD.

Transfer Tax Residential Property also know as Stamp Duty, is the fee levied on the transfer of a home inhabited as a main residence after 5 years of holding. It includes bother buyers and seller fees. This includes fees paid to governing bodies as a tax, stamp duty and registration fees and excludes notary fees, agent fees and documents fees.

The estimated tax is based on the price of 110m2 residential property.

Transfer Tax Commercial Property also know as Stamp Duty, is the fee levied on the transfer of a commercial office space after 5 years of holding. It includes bother buyers and seller fees. This includes fees paid to governing bodies as a tax, stamp duty and registration fees and excludes notary fees, agent fees and documents fees. The estimated tax is based on the price of 50m2 residential property or 1m USD.

Rental Income Tax on Residential Property is the taxlevied of the annual income made from leasing a residential property as an individual. The amount generally does not include deductible. For those described as “Income tax” you will need to refer to our Taxation Index. Rental Income Tax on Commercial Property is the taxlevied of the annual income made from leasing a commercial property as an individual. The amount generally does not include deductible. For those described as “Income tax” you will need to refer to our Taxation Index.

Capital Gain Tax on Main Residence is the tax on the gains made on the sale from the one’s main residence after 5 years of holding. Does not include deductibles.

The information related to real estate other than tax were taken from Numbeo.com. https://www.numbeo.com/property-investment/

Tax information’s were taken from municipalities websites, or in rare cases from http://www.doingbusiness.org/rankings

Download Data to view source link for each entry.