THE STC 2018 REAL ESTATE INDEX
| Rank | COUNTRY | CITY | RE-Index | Price to Income Ratio | Mortgage as % of Income | Gross Rental Yield | Rent - Apartment (3 bedrooms) in City Center | Buy - 100m2 Apartment in City Center | Property Tax Residential(Home) | Property Tax Commercial | Transfer Tax Residential Property | Transfer Tax Commercial Property ($1MUSD) | Rental Income Tax on Residential Property | Rental Income Tax on Commercial Property | Capital Gain Tax on Main Residence |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Saudi Arabia | Riyadh | 1.04 | 2.49 | 17.62% | 10.50% | $934 | $110,971 | 0 | 0 | 0 | 0 | 20% | 20% | 0 |
| 2 | Saudi Arabia | Jeddah | 1.02 | 3.44 | 26.14% | 7.52% | $772 | $121,663 | 0 | 0 | 0 | 0 | 20% | 20% | 0 |
| 3 | Libya | Tripoli | 1 | 8.12 | 67.57% | 5.50% | $849 | $175,000 | 0 | 0 | 0 | 0 | 10% | 10% | 10% |
| 4 | Qatar | Doha | 0.94 | 4.74 | 35.95% | 10.30% | $3,617 | $418,365 | 0 | 0 | 0 | 0 | 10% | 10% | 0 |
| 5 | Laos | Vientiane | 0.94 | 19.12 | 221.36% | 13.34% | $1,726 | $120,000 | 0* | 0* | 1% | 1% | 10% | 10% | 5% |
| 6 | Isle of Man | Douglas | 0.92 | 5.87 | 52.83% | 5.92% | $1,885 | $274,597 | 0.4%* | 0.4%* | 0 | 0 | 20% | 20% | 0 |
| 7 | Bahrain | Manama | 0.92 | 7.28 | 62.35% | 9.60% | $1,624 | $204,262 | 10% of rental Income | 10% of rental Income | 1.70% | 1.70% | 0 | 0 | 0 |
| 8 | Cyprus | Nicosia | 0.92 | 5.7 | 39.85% | 6.11% | $944 | $195,537 | 0 | 0 | 2.68%* | 2.68%* | Income Tax+ 3% | Income Tax+ 3% | 0 |
| 9 | UAE | Abu Dhabi | 0.9 | 5.39 | 40.04% | 9.83% | $3,367 | $399,631 | 3% of rental Value | 3% of rental value | 2% | 2% | 0 | 0 | 0 |
| 10 | Cyprus | Limassol | 0.9 | 6.33 | 46.53% | 6.52% | $1,283 | $251,125 | 0 | 0 | 2.68%* | 2.68%* | Income Tax+ 3% | Income Tax+ 3% | 0 |
| 11 | Romania | Bucharest | 0.89 | 10.74 | 82.33% | 5.10% | $776 | $186,172 | 0.26% | 1% | 1.50% | 1.50% | 16% | 16% | 0 |
| 12 | Bolivia | La Paz | 0.89 | 13.76 | 123.22% | 5.34% | $552 | $127,856 | 0.1154% | 0.1154% | 3% | 3% | 13% | 13% | 0 |
| 13 | Oman | Muscat | 0.89 | 4.68 | 37.40% | 7.83% | $1,385 | $207,785 | 0 | 0 | 5% | 5% | 5.00% | 5.00% | 0 |
| 14 | Ecuador | Quito | 0.88 | 14.93 | 184.02% | 6.28% | $800 | $157,500 | 0.65% | 0.65% | 1% | 1% | Income Tax | Income Tax | 10% |
| 15 | Honduras | San Pedro Sula | 0.88 | 13.01 | 185.69% | 5.46% | $627 | $130,000 | 0.35% | 0.35% | 1.50% | 1.50% | Income Tax | Income Tax | 10% |
| 16 | Macedonia | Skopje | 0.88 | 15.24 | 133.98% | 4.32% | $513 | $147,742 | 0.15% | 0.20% | 2% | 4% | 10% | 10% | 7% |
| 17 | Liechtenstein | Vaduz | 0.88 | 3.51 | 40.70% | 6.92% | $2,162 | $362,000 | 0* | 0* | 0* | 0* | Income Tax | Income Tax | 12.5%* |
| 18 | Azerbaijan | Baku | 0.87 | 19.9 | 223.76% | 5.07% | $624 | $137,059 | 0.40% | 0.40% | 0 | 0 | 25% | 25% | 0 |
| 19 | Kuwait | Kuwait City | 0.87 | 15.22 | 120.50% | 3.30% | $2,084 | $666,936 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 20 | Latvia | Riga | 0.87 | 10.66 | 69.53% | 4.80% | $786 | $208,088 | 0.60% | 1.50% | 2%* | 2%* | 10% | 10% | 0 |
| 21 | Mongolia | Ulaanbaatar | 0.87 | 12.95 | 137.64% | 7.07% | $702 | $112,068 | 1% | 1% | 2% | 2% | 10% | 10% | 2% |
| 22 | Kazakhstan | Almaty | 0.86 | 12.93 | 239.88% | 6.26% | $730 | $131,321 | 1.50% | 1.50% | 0 | 0 | 10% | 10% | 0 |
| 23 | Kazakhstan | Astana | 0.86 | 12.81 | 226.38% | 7.11% | $873 | $130,915 | 1.50% | 1.50% | 0 | 0 | 10% | 10% | 0 |
| 24 | Slovakia | Bratislava | 0.86 | 12.49 | 73.33% | 4.40% | $1,184 | $335,977 | €7/m2 + 1.15% of land value | €15/m2 + 1.15% of land value | 0 | 0 | Income Tax | Income Tax | 0 |
| 25 | Moldova | Chisinau | 0.86 | 14.33 | 194.91% | 6.20% | $489 | $100,198 | 0.85% | 1.10% | 0*% | 0*% | 18% | 18% | 18% |
| 26 | Albania | Durres | 0.86 | 11.55 | 182.45% | 5.35% | $327 | $78,742 | 30 ALL/sqm | 400 ALL/sqm | 0* | 0* | Income tax | Income tax | Income tax |
| 27 | Costa Rica | San Jose | 0.86 | 8.36 | 92.98% | 7.56% | $933 | $155,642 | 0.25% | 0.25% | 1.50% | 1.50% | Income Tax | Income Tax | 0 |
| 28 | El Salvador | San Salvador | 0.86 | 14.44 | 150.02% | 7.05% | $687 | $113,528 | $230 | $230 | 3% | 3% | Income Tax | Income Tax | 10% |
| 29 | Nicaragua | Managua | 0.85 | 4.72 | 50.01% | 17.98% | $633 | $39,000 | 1% | 1% | 4% | 4% | 10% | 10% | 30% |
| 30 | Georgia | Tbilisi | 0.85 | 12.65 | 154.53% | 7.68% | $701 | $101,137 | 1% | 1% | 0 | 0 | Income Tax | Income Tax | 0 |
| 31 | Honduras | Tegucigalpa | 0.84 | 16 | 238.81% | 3.91% | $531 | $165,000 | 0.35% | 0.35% | 1.50% | 1.50% | Income Tax | Income Tax | 10% |
| 32 | Poland | Warsaw | 0.84 | 11.35 | 79.39% | 4.71% | $1,198 | $317,587 | 0.75 PLN/m2 | 23.13 PLN/m2 | 0.00% | 0.00% | 32% | 32% | 19% |
| 33 | UAE | Dubai | 0.83 | 4.47 | 32.62% | 11.11% | $3,717 | $381,392 | 5% of rent valuation* | 5% of rent valuation* | 4% | 4% | 0 | 0 | 0 |
| 34 | Cambodia | Phnom Penh | 0.83 | 17.54 | 189.34% | 7.24% | $1,266 | $169,000 | 0.10% | 0.10% | 4% | 4% | 10% | 10% | 0 |
| 35 | Thailand | Phuket | 0.83 | 16.21 | 129.79% | 3.07% | $912 | $317,550 | 12.5% of rental value | 12.5% of rental value | 3% | 3% | Income Tax - 30% | Income Tax - 30% | 0 |
| 36 | Paraguay | Asuncion | 0.82 | 11.9 | 198.61% | 7.00% | $607 | $91,322 | 1% | 1% | 1.80% | 1.80% | Income Tax | Income Tax | Income Tax |
| 37 | Tanzania | Dar es Salaam | 0.82 | 18.08 | 334.14% | 10.62% | $1,352 | $120,000 | 0.15% | 0.15% | 1% | 1% | 10% | 10% | 10% |
| 38 | Guatemala | Guatemala City | 0.82 | 11.57 | 134.23% | 6.38% | $959 | $168,438 | 0.90% | 0.90% | 3% | 3% | 7% | 7% | 10% |
| 39 | Cape Verde | Praia | 0.82 | 21.2 | 228.90% | 5.38% | $504 | $95,656 | 0.31875% | 0.31875% | 1.50% | 1.50% | Income Tax | Income Tax | 1% |
| 40 | Andorra | Andorra la Vella | 0.81 | 8.45 | 44.39% | 3.51% | $1,479 | $376,541 | 0.319 euros / m² | 0.5€/m2 | 4%* | 4% | 13% | 13% | 0* |
| 41 | Egypt | Cairo | 0.81 | 12.17 | 195.89% | 7.25% | $354 | $54,813 | 10% of rental value | 10% of rental value | 2.50% | 2.50% | 1/2 of Income Tax | 1/2 of Income Tax | 0 |
| 42 | Saint Lucia | Castries | 0.81 | 4.16 | 50.00% | 8.55% | $981 | $125,000 | 5% of rental value | 0.25%* | 5%* | 5%* | Income Tax + 2% of contract value | Income Tax + 2% of contract value | 0 |
| 43 | Iceland | Reykjavik | 0.81 | 7.05 | 62.98% | 6.76% | $2,773 | $548,775 | 0.20% | 1.65% | 0.20% | 1.65% | 12.5%* | 12.5%* | 0 |
| 44 | Russia | Saint Petersburg | 0.81 | 13.47 | 172.81% | 5.39% | $1,168 | $253,463 | 1% | 2.20% | $1,000 | $1,000 | 13% | 13% | 0 |
| 45 | Estonia | Tallinn | 0.8 | 9.94 | 62.34% | 4.12% | $962 | $296,086 | 1% | 2% | 0% | 0% | 20% | 20% | 20% |
| 46 | Belarus | Minsk | 0.79 | 14.87 | 258.40% | 5.07% | $623 | $151,103 | 0.45%* | 0.70% | 3.5%* | 3.5%* | 15% | 15% | 0 |
| 47 | Montenegro | Budva | 0.78 | 22.29 | 199.40% | 2.98% | $702 | $303,568 | 0% | 1% | 3% | 3% | 9% | 9% | 0% |
| 48 | Hungary | Budapest | 0.77 | 14.44 | 110.95% | 4.06% | $997 | $293,659 | $6.37/m2 | $6.37/m2 | 4% | 4% | 16% | 16% | 0* |
| 49 | Peru | Lima | 0.77 | 18.17 | 218.64% | 5.55% | $1,001 | $207,781 | 1% | 1% | 3.30% | 3.30% | 5% | 5% | 5% |
| 50 | Serbia | Belgrade | 0.76 | 21.67 | 151.58% | 3.17% | $695 | $266,184 | 0.40% | 0.40% | 2.50% | 2.50% | 20% | 20% | 15% |
| 51 | Vietnam | Ho Chi Minh City | 0.76 | 18.44 | 194.95% | 6.05% | $1,167 | $222,409 | 0.15% | 0.15% | 0.50% | 0.50% | Income Tax | Income Tax | Income Tax |
| 52 | Malaysia | Kuala Lumpur | 0.76 | 11.19 | 84.93% | 3.96% | $1,115 | $327,013 | 4% of rental value | 10% of rental value | 3% | 3% | Income Tax | Income Tax | 0 |
| 53 | Turks and Caicos Islands | Providenciales | 0.76 | 9.47 | 81.45% | 6.60% | $2,750 | $400,000 | 0 | 0 | 6.50% | 6.50% | 0 | 0 | 0 |
| 54 | Jersey | Saint Helier | 0.76 | 8.67 | 58.99% | 6.23% | $3,132 | $558,502 | 1.85 % of Rateable value | 2.40% of Rateable value | 2.5%* | 2.5%* | 20% | 20% | 0 |
| 55 | Croatia | Split | 0.76 | 17.95 | 138.83% | 2.60% | $720 | $347,705 | 0 | 0 | 5%* | 5% | 12% | 12% | 0 |
| 56 | Turkey | Istanbul | 0.75 | 12.39 | 176.36% | 4.48% | $860 | $227,704 | 0.60% | 0.60% | 4% | 4% | 1/2 of Income Tax | 1/2 of Income Tax | 0 |
| 57 | Uruguay | Montevideo | 0.75 | 17.74 | 181.47% | 4.82% | $1,053 | $262,440 | 0.5%* | 0.5%* | 4% | 4% | 10.5% | 10.5% | 12.0% |
| 58 | Chile | Santiago | 0.75 | 14.38 | 106.74% | 4.45% | $895 | $244,250 | 1.168% | 1.229% | 0.20% | 0.20% | Income Tax | Income Tax | 50% of Income Tax |
| 59 | Lithuania | Vilnius | 0.75 | 14.34 | 87.05% | 3.93% | $1,042 | $324,448 | 2% | 3% | 0 | 0 | 15% | 15% | 0 |
| 60 | Tunisia | Tunis | 0.74 | 14.13 | 137.80% | 4.98% | $374 | $92,862 | 0.30% | 1.50% | 5% | 5% | 70% of Income Tax | 70% of Income Tax | 10% |
| 61 | Ukraine | Kiev | 0.73 | 17.25 | 358.38% | 6.04% | $779 | $154,875 | 1% | 2.70% | 1% | 1% | 19.50% | 19.50% | 0.00% |
| 62 | Fiji | Suva | 0.73 | 8.77 | 81.61% | 18.52% | $2,515 | $149,216 | 2.47% | 2.47% | 3% | 3% | Income Tax | Income Tax | 0 |
| 63 | Greece | Athens | 0.72 | 10.76 | 78.47% | 4.37% | $626 | $177,902 | 15€/m2 + 0.5% | 20€/m2 + 1% | 3.75% | 3.75% | Income Tax* | Income Tax* | 0 |
| 64 | Thailand | Bangkok | 0.72 | 20.43 | 165.73% | 4.42% | $1,995 | $426,247 | 12.5% of rental value | 12.5% of rental value | 3% | 3% | Income Tax - 30% | Income Tax - 30% | 0 |
| 65 | Colombia | Cali | 0.72 | 12.7 | 175.51% | 4.58% | $310 | $86,232 | 0.6%* | .7%* | 3.50% | 3.50% | Income Tax | Income Tax | 0 |
| 66 | 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 |
| 67 | Bahamas | Nassau | 0.72 | 3.43 | 32.57% | 19.40% | $2,276 | $136,343 | 0.625%* | 1.5%* | 10% | 10% | .5% of rental Income Tax* | .5% of rental Income Tax* | 0 |
| 68 | Sweden | Stockholm | 0.72 | 15.41 | 92.33% | 2.65% | $2,487 | $1,191,199 | 0.75%* | 1.00% | 4.25% | 4.25% | 30% | 30% | 22% |
| 69 | Greece | Corfu | 0.71 | 8.23 | 80.35% | 3.73% | $619 | $204,200 | 15€/m2 + 0.5% | 20€/m2 + 1% | 3.75% | 3.75% | Income Tax* | Income Tax* | 0 |
| 70 | Vietnam | Hanoi | 0.71 | 27.91 | 280.18% | 3.67% | $840 | $250,258 | 0.15% | 0.15% | 0.50% | 0.50% | Income Tax | Income Tax | Income Tax |
| 71 | Dominican republic | Santo Domingo | 0.71 | 13.43 | 190.07% | 7.16% | $908 | $123,493 | 1%* | 1%* | 3% | 3% | 27% | 27% | 25% |
| 72 | Colombia | Bogota | 0.7 | 19.01 | 248.33% | 4.64% | $747 | $196,483 | 0.65%* | 0.95%* | 1.5%* | 1.5%* | Income Tax | Income Tax | 0 |
| 73 | Mexico | Mexico City | 0.7 | 11.77 | 152.35% | 5.78% | $1,092 | $216,609 | 1.20% | 1.20% | 3% | 3% | Income Tax - 35% | Income Tax - 35% | 0 |
| 74 | Algeria | Algiers | 0.69 | 26.38 | 232.96% | 2.75% | $475 | $218,143 | 3% of rental value* | 5% of rent value* | 5% | 5% | 10% | 15% | 12.225% |
| 75 | Panama | Panama City | 0.69 | 12.89 | 102.32% | 9.87% | $1,881 | $220,782 | 2.10% | 2.10% | 2% | 2% | 25% | 25% | 10% |
| 76 | Antigua and Barbuda | Saint John's | 0.69 | 8.2 | 102.46% | 6.26% | $1,148 | $200,000 | 0.30% | 0.50% | 10% | 10% | 0% | 0% | 0% |
| 77 | Iran | Tehran | 0.69 | 14.14 | 271.40% | 6.90% | $1,157 | $184,640 | 0.2%*` | 0.5%* | 5% | 5% | Income Tax | Income Tax | 0 |
| 78 | Slovenia | Ljubljana | 0.68 | 12.59 | 86.06% | 3.19% | $1,099 | $411,365 | 1.00% | 1.25% | 2% | 2% | 25% | 25% | 25% |
| 79 | Grenada | Saint George's | 0.68 | 8.75 | 90.02% | 9.32% | $925 | $129,507 | 0.250% | 0.4% | 5%* | 5%* | .5* | .5* | 0.75%* |
| 80 | Uzbekistan | Tashkent | 0.68 | 17.39 | 296.60% | 7.22% | $695 | $106,625 | 2.5% | 5.00% | 0* | 0* | 7.50% | 7.50% | Income Tax |
| 81 | Pakistan | Karachi | 0.67 | 12.25 | 152.05% | 5.88% | $440 | $82,442 | 18% of rental value | 18% of rental value | 7.50% | 7.50% | 20% | 20% | 0 |
| 82 | Czech Republic | Prague | 0.67 | 16.69 | 101.51% | 3.21% | $1,375 | $525,099 | 3.5$/m2* | 15$/m2* | 4% | 4% | 15% | 15% | 0 |
| 83 | Netherlands | Amsterdam | 0.66 | 9.57 | 60.57% | 5.14% | $3,169 | $767,159 | 0.049% + €440 | 0.17265% + €440 | 2% | 6% | 30%* | 30%* | 0 |
| 84 | US Virgin Islands | Charlotte Amalie | 0.66 | 8.62 | 65.37% | 4.64% | $2,268 | $574,890 | 0.38% | 0.71% | 2% | 2% | Income Tax | Income Tax | 20% |
| 85 | Ireland | Dublin | 0.66 | 10.2 | 71.91% | 5.80% | $3,273 | $688,366 | 0.15% | 0.15% | 1%* | 2% | Income Tax* | Income Tax* | 0% |
| 86 | Colombia | Medellin | 0.66 | 19.41 | 258.46% | 5.79% | $523 | $116,011 | 1.5%* | 1.5%* | 2% | 2% | Income Tax | Income Tax | 0 |
| 87 | Russia | Moscow | 0.66 | 19.84 | 259.25% | 4.19% | $2,123 | $570,043 | 1.4%* | 2.2%* | $1,000 | $1,000 | 13% | 13% | 0 |
| 88 | Vanuatu | Port Vila | 0.66 | 34 | 306.00% | 7.17% | $1,117 | $170,000 | 5.5% of rental valuation | 5.5% of rental valuation | 7% | 7% | 6.25%* | 12.50% | 0 |
| 89 | Morocco | Dakhla | 0.65 | 24 | 252.00% | 5.90% | $650 | $120,000 | 17.5% of rental value* | 40% of rental value | 5%* | 5%* | 0* | 0* | 0* |
| 90 | Bermuda | Hamilton | 0.65 | 4.34 | 39.58% | 10.69% | $6,700 | $622,917 | 12% of rent value* | 7% of rental value | 4%* | 4%* | 8%* | 8%* | 0 |
| 91 | Philippines | Manila | 0.65 | 17.36 | 171.02% | 5.52% | $1,519 | $252,732 | 2% | 2% | 1.50% | 1.50% | Income | Income | 0% |
| 92 | Jordan | Amman | 0.64 | 7.73 | 75.79% | 7.42% | $765 | $125,283 | 15% of rental value | 15% of rental value | 9% | 9% | Income Tax | Income Tax | 0 |
| 93 | Italy | Venice | 0.64 | 16.28 | 109.60% | 3.02% | $1,693 | $693,869 | 0.81% | 0.81% | 2.9% | 2.9% | 15% | 15% | 0 |
| 94 | Iraq | Baghdad | 0.63 | 9.5 | 148.02% | 6.05% | $829 | $163,210 | 10% of rental value | 10% of rental value | 9%* | 9%* | 20% | 20% | 0 |
| 95 | Denmark | Copenhagen | 0.63 | 8.19 | 50.17% | 4.70% | $2,842 | $720,752 | 340$+3.4% of land value | 340$+3.4% of land value | 0.60% | 0.60% | Income Tax | Income Tax | 0 |
| 96 | Sri Lanka | Colombo | 0.62 | 28.91 | 446.63% | 3.57% | $712 | $200,751 | 35% of rental value | 35% of rental value | 4% | 4% | 18% | 18% | 0 |
| 97 | Canada | Montreal | 0.62 | 6.76 | 44.71% | 4.61% | $1,448 | $389,443 | 0.7665% | 3.53% | 1.5%* | 1.5%* | Income Tax | Income Tax | 0 |
| 98 | Malta | Valletta | 0.62 | 22.67 | 173.31% | 2.88% | $1,660 | $722,780 | 0 | 0 | 5% | 5% | 15% | 15% | 0% |
| 99 | Lebanon | Beirut | 0.61 | 16.1 | 140.72% | 5.02% | $2,573 | $530,525 | 14% of rental value | 14% of rental value | 6% | 6% | 10% | 10% | 10% |
| 100 | Indonesia | Jakarta | 0.61 | 17.93 | 194.47% | 6.27% | $1,473 | $224,633 | 0.20% | 0.20% | 10% | 10% | 10% | 10% | 0* |
| 101 | Pakistan | Lahore | 0.61 | 18.07 | 235.28% | 3.02% | $379 | $135,439 | 18% of rental value | 18% of rental value | 7.50% | 7.50% | 20% | 20% | 0 |
| 102 | Brazil | Brasilia | 0.6 | 15.31 | 198.39% | 3.87% | $1,049 | $292,470 | 0.30% | 1% | 3% | 3% | Income Tax | Income Tax | Income Tax |
| 103 | Italy | Milan | 0.6 | 16.89 | 106.99% | 4.75% | $2,506 | $911,021 | 2.24€/m2+0.68%* | 5.23€/m2 + 1.14%* | 2% | 3% | 15% | 15% | 0 |
| 104 | Norway | Oslo | 0.6 | 12.24 | 78.59% | 3.23% | $2,548 | $1,016,075 | 0.20% | 0.30% | 0.70% | 2.50% | 24% | 24% | 24% |
| 105 | Australia | Brisbane | 0.59 | 6.63 | 49.63% | 5.46% | $2,244 | $515,021 | 0.5654%* | 2.4229%* | 3.75% | 3.75% | Income Tax | Income Tax | 0 |
| 106 | India | Chennai | 0.59 | 14.36 | 167.27% | 2.12% | $449 | $219,129 | 12.4% of rental value | 12.4% of rental value | 8% | 8% | Income Tax | Income Tax | 0 |
| 107 | India | Hyderabad | 0.59 | 6.65 | 76.11% | 4.79% | $425 | $92,106 | 30% of rental value | 30% of rental value | 8% | 8% | Income Tax | Income Tax | 0 |
| 108 | France | Nice | 0.59 | 8.11 | 47.84% | 3.83% | $1,643 | $525,971 | 25.54% of rental valuation* | 35.54% of rental valuation* | 5.81% | 5.81% | 27.57% | 27.57% | 0 |
| 109 | Dominica | Roseau | 0.59 | 6.5 | 52.00% | 12.90% | $740 | $62,500 | 1.25% | 1.25% | 10%* | 10%* | Income Tax | Income Tax | 0 |
| 110 | Bulgaria | Sofia | 0.59 | 9.62 | 72.00% | 5.22% | $678 | $163,194 | 730$+0.5515% | 730$+0.5515% | 2.50% | 2.50% | 10% | 10% | 0 |
| 111 | Cayman Islands | George Town | 0.58 | 6.67 | 51.44% | 4.23% | $3,394 | $955,080 | 0 | 0 | 7.50% | 7.50% | 0 | 0 | 0 |
| 112 | Portugal | Lisbon | 0.58 | 13.75 | 88.60% | 5.05% | $1,771 | $408,645 | 0.8%* | 1.5%* | 6% | 6.50% | 28% | 28% | 0 |
| 113 | India | Kolkata | 0.57 | 12.15 | 136.44% | 3.54% | $458 | $139,603 | 40% of rental value | 40% of rental value | 7% | 7% | Income Tax | Income Tax | 0 |
| 114 | USA | Los Angeles | 0.57 | 8.37 | 61.07% | 6.26% | $3,517 | $701,235 | 1.205% | 1.205% | 0.56% | 0.56% | Income Tax | Income Tax | 20% |
| 115 | Bangladesh | Dhaka | 0.56 | 14.95 | 184.75% | 3.75% | $451 | $122,099 | 12% of rental value | 12% of rental value | 8.0% | 9.5% | Income Tax | Income Tax | 15% |
| 116 | Italy | Rome | 0.56 | 20.41 | 127.99% | 2.61% | $2,306 | $1,026,366 | 3.8€/m2 + 0.6%* | 18.23€/m2 + 1.16%* | 2% | 3% | 15% | 15% | 0 |
| 117 | Taiwan | Taipei | 0.56 | 17.39 | 106.24% | 1.53% | $1,337 | $938,115 | 1.2%* | 3%* | 6.1%* | 6.1%* | Income Tax | Income Tax | 10%* |
| 118 | Seychelles | Victoria | 0.56 | 28.44 | 314.39% | 3.44% | $1,409 | $451,808 | 0* | 0* | 6.50% | 6.50% | 25%* | 25%* | 0 |
| 119 | Argentina | Buenos Aires | 0.55 | 14.62 | 381.19% | 3.70% | $826 | $268,400 | 0.95%* | 0.95%* | 5.30% | 5.30% | 35% | 35% | 0 |
| 120 | China | Changsha | 0.55 | 6.14 | 48.62% | 3.95% | $557 | $154,202 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 121 | India | Delhi | 0.55 | 15.2 | 172.89% | 2.18% | $626 | $286,912 | 20% of rental value | 20% of rental value | 8% | 8% | Income Tax | Income Tax | 0 |
| 122 | Finland | Helsinki | 0.55 | 11.21 | 63.68% | 3.07% | $2,221 | $866,658 | 0.37% | 0.80% | 4%* | 4% | 34% | 34% | 0 |
| 123 | Mauritius | Port Louis | 0.55 | 11.27 | 110.31% | 4.51% | $726 | $183,439 | 28% of rental value | 28% of rental value | 10% | 10% | 15% | 15% | 0 |
| 124 | Brazil | Rio de Janeiro | 0.55 | 22.25 | 280.75% | 4.16% | $1,200 | $327,033 | 1.0658% | 1.0658% | 2% | 2% | Income Tax | Income Tax | Income Tax |
| 125 | Canada | Toronto | 0.55 | 11.06 | 73.33% | 4.54% | $2,462 | $666,010 | 0.661% | 2.55% | 2.00% | 2.00% | Income Tax | Income Tax | 0 |
| 126 | India | Bangalore | 0.54 | 7.77 | 86.21% | 3.52% | $618 | $179,217 | 20% of rental value | 25% of rental value | 10% | 10% | Income Tax | Income Tax | 0 |
| 127 | Macau | Macau | 0.54 | 26.1 | 169.81% | 1.76% | $2,088 | $1,237,663 | 10% of rental value | 16% of rental value | 3% | 3% | 12% | 12% | 0% |
| 128 | Spain | Madrid | 0.54 | 9.86 | 60.47% | 4.32% | $1,885 | $515,020 | 0.51%* | 0.985%* | 6% | 6% | Income Tax | Income Tax | 0* |
| 129 | British Virgin Islands | Road town | 0.53 | 9.29 | 60.37% | 6.15% | $2,650 | $470,000 | 50$+1.5% of rental value | 50$+1.5% of rental value | 12% | 12% | 1.50% | 1.50% | 0 |
| 130 | Austria | Vienna | 0.53 | 13.61 | 84.52% | 2.83% | $2,099 | $810,339 | 0.60% | 1.20% | 3.50% | 3.50% | Income Tax* | Income Tax* | 0 |
| 131 | Morocco | Casablanca | 0.52 | 14.56 | 118.17% | 6.32% | $1,014 | $196,914 | 17.5% of rental value* | 40% of rental value | 5%* | 5%* | Income Tax | Income Tax | 20%* |
| 132 | China | Chongqing | 0.52 | 9.87 | 74.94% | 2.85% | $530 | $206,855 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 133 | China | Foshan | 0.52 | 10.33 | 80.63% | 3.62% | $690 | $198,899 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 134 | Brazil | Sao Paulo | 0.52 | 20.91 | 263.72% | 4.20% | $1,165 | $321,472 | 1% | 1.50% | 3% | 3% | Income Tax | Income Tax | Income Tax |
| 135 | China | Shenyang | 0.52 | 10.83 | 85.32% | 3.02% | $440 | $190,943 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 136 | Canada | Vancouver | 0.52 | 15.5 | 103.39% | 3.46% | $2,883 | $972,895 | 0.2550% | 1.244% | 2%* | 2%* | Income Tax | Income Tax | 0 |
| 137 | Switzerland | Zurich | 0.52 | 10.1 | 57.15% | 2.81% | $3,829 | $1,558,930 | 0* | 0* | 0.15% | 0.15% | Income Tax | Income Tax | 35% |
| 138 | Brazil | Belo Horizonte | 0.51 | 19.88 | 264.88% | 4.28% | $668 | $185,451 | 1.97% | 1.97% | 3% | 3% | Income Tax | Income Tax | Income Tax |
| 139 | South Africa | Johannesburg | 0.51 | 2.69 | 32.43% | 11.43% | $1,280 | $123,666 | 0.6916% | 1.7982% | 11%* | 11%* | Income Tax | Income Tax | 0* |
| 140 | Australia | Melbourne | 0.51 | 9.4 | 71.09% | 4.43% | $2,528 | $685,772 | 0.6665%* | 1.1211%* | 5.50% | 5.50% | Income Tax | Income Tax | 0 |
| 141 | Angola | Luanda | 0.5 | 17.82 | 235.49% | 6.43% | $5,990 | $1,000,000 | 15% of rent paid | 15% of rent paid | 2% | 2% | 15%* | 15% | 0 |
| 142 | Gibraltar | Gibraltar | 0.49 | 9.4 | 60.70% | 4.46% | $3,631 | $838,020 | 50% of rental value | 52% of annual value | 3.50% | 3.50% | 20% | 20% | 0 |
| 143 | Germany | Berlin | 0.48 | 9.64 | 57.96% | 3.69% | $1,871 | $588,178 | 2.835% of land value | 2.835% of land value | 6% | 6% | Income Tax | Income Tax | 12%* |
| 144 | Ethiopia | Addis Ababa | 0.47 | 26.62 | 358.49% | 10.42% | $2,000 | $133,287 | 5$ | 5% | 6% | 6% | Income Tax | Income Tax | 15% |
| 145 | Switzerland | Geneva | 0.47 | 9.93 | 58.71% | 3.32% | $3,889 | $1,332,533 | 0.1%* | 0.2%* | 3% | 3% | Income Tax | Income Tax | 0* |
| 146 | Nigeria | Lagos | 0.47 | 15.81 | 328.72% | 13.49% | $1,132 | $115,788 | 0.132% | 0.132% | 15% | 15% | 10% | 10% | 10% |
| 147 | USA | Miami | 0.47 | 5.44 | 40.70% | 9.14% | $3,494 | $451,718 | 1.28% | 1.35% | 6.00% | 6.45% | Income Tax | Income Tax | 20% |
| 148 | China | Chengdu | 0.46 | 14.62 | 114.80% | 2.74% | $746 | $325,058 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 149 | USA | Boston | 0.45 | 10.28 | 74.70% | 5.20% | $4,117 | $1,006,520 | 1.059% | 2.54% | 0.46% | 0.46% | Income Tax | Income Tax | 20% |
| 150 | Cuba | La Havana | 0.45 | 65.63 | 506.37% | 18.88% | $650 | $61,667 | 2% | 2% | 4% | 4% | Income tax | Income tax | Income tax |
| 151 | China | Wuhan | 0.45 | 13.36 | 101.77% | 2.06% | $680 | $371,941 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 152 | China | Wuxi | 0.45 | 14.58 | 115.49% | 2.39% | $764 | $350,062 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 153 | Barbados | Bridgetown | 0.44 | 16.69 | 146.41% | 1.69% | $840 | $632,300 | 12% of rental value | 12% of rental value | 8.0% | 9.5% | Income Tax | Income Tax | 15% |
| 154 | South Africa | Cape Town | 0.44 | 7.12 | 84.42% | 7.12% | $1,795 | $286,600 | 0.6397% | 1.2795% | 11%* | 11%* | Income Tax | Income Tax | 0* |
| 155 | Belgium | Brussels | 0.41 | 7.1 | 44.38% | 5.51% | $1,825 | $396,541 | 1.62% of Rental Income * | 1.62% of Rental Income * | 12.50% | 12.50% | Income Tax* | Income Tax* | 0 |
| 156 | China | Hangzhou | 0.41 | 22.09 | 179.88% | 2.13% | $1,193 | $576,807 | 1.2%* | 4%* | 0* | 5%* | Income Tax* | Income Tax* | 30%* |
| 157 | Australia | Sydney | 0.41 | 10.5 | 78.16% | 4.40% | $3,641.77 | $1,021,482 | 0.9935%* | 1.8712%* | 4.05% | 4.05% | Income Tax | Income Tax | 0 |
| 158 | Switzerland | Lausanne | 0.4 | 10.42 | 59.52% | 2.59% | $2,773 | $1,205,074 | 0.15%* | 0.15%* | 3.30% | 3.30% | Income Tax | Income Tax | 14% |
| 159 | China | Ningbo | 0.4 | 24.54 | 163.32% | $716 | $517,137 | 1.2%* | 4%* | 0* | 5%* | Income Tax* | Income Tax* | 30%* | |
| 160 | China | Suzhou | 0.4 | 16.75 | 131.02% | 2.30% | $1,018 | $529,639 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 161 | Germany | Frankfurt | 0.39 | 8.16 | 49.35% | 3.39% | $1,961 | $705,419 | 1.75% | 1.75% | 6% | 6% | Income Tax | Income Tax | 12%* |
| 162 | USA | San Francisco | 0.39 | 11.28 | 81.74% | 6.23% | $6,083 | $1,165,981 | 1.180% | 1.180% | 0.86% | 0.86% | Income Tax | Income Tax | 20% |
| 163 | Anguilla | The Valley | 0.39 | 4.32 | 56.26% | 8.07% | $1,600 | $216,200 | 0.75% | 0.75% | 17.5%* | 17.5%* | $2500* | $2500* | 0 |
| 164 | Spain | Barcelona | 0.38 | 14.01 | 88.00% | 4.02% | $1,752 | $561,650 | 0.75%* | 1%* | 10% | 10% | Income Tax | Income Tax | 0* |
| 165 | China | Tianjin | 0.37 | 23.66 | 205.89% | 2.45% | $1,122 | $478,094 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 166 | China | Guangzhou | 0.36 | 19.97 | 164.28% | 2.38% | $1,284 | $597,420 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 167 | Trinidad and Tobago | Port of Spain | 0.35 | 8.55 | 79.38% | 11.64% | $1,255 | $121,422 | 3.50% | 5% | 10% | 10% | 30% | 30% | 0 |
| 168 | China | Qingdao | 0.35 | 29.79 | 232.33% | 2.57% | $1,092 | $477,357 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 169 | Japan | Tokyo | 0.35 | 13.32 | 74.35% | 2.41% | $2,358 | $1,071,749 | 1.55%* | 1.7%* | 3% | 4% | Income Tax | Income Tax | 20% |
| 170 | France | Paris | 0.34 | 17.59 | 105.42% | 2.65% | $2,944 | $1,207,548 | 35.86% of Rental valuation* | 45.86% of Rental valuation* | 5.81% | 6.41% | 27.57% | 27.57% | 0 |
| 171 | Taiwan | Taichung | 0.34 | 18.5 | 118.34% | 1.52% | $787 | $48,221 | 1.2%* | 3%* | 6.1%* | 6.1%* | Income Tax | Income Tax | 10%* |
| 172 | New Zealand | Auckland | 0.33 | 11.31 | 88.15% | 4.17% | $2,522 | $701,706 | $350+ 0.25%* | $400+ 0.694%* | 0* | Capital gains are taxed at 28% | Income Tax | Income Tax | 0 |
| 173 | South Korea | Seoul | 0.32 | 19.33 | 135.61% | 1.92% | $2,620 | $1,276,420 | 0.68% | 0.68% | 5% | 5% | Income Tax | Income Tax | 0 |
| 174 | China | Nanjing | 0.31 | 28.92 | 230.98% | 1.71% | $955 | $652,388 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 175 | Germany | Munich | 0.3 | 15.53 | 92.00% | 2.49% | $2,499 | $1,175,699 | 1.8725% | 1.8725% | 3.50% | 3.50% | Income Tax | Income Tax | 12%* |
| 176 | Luxembourg | Luxembourg City | 0.29 | 10.53 | 63.60% | 4.05% | $3,485 | $992,567 | 1.75% of rental evaluation | 7.5% of rental evaluation | 10%* | 11.8%* | Income Tax | Income Tax | 0 |
| 177 | Taiwan | Kaohsiung | 0.28 | 6.63 | 39.94% | 2.26% | $604 | $2,955 | 1.2%* | 3%* | 6.1%* | 6.1%* | Income Tax | Income Tax | 10%* |
| 178 | India | Mumbai | 0.28 | 28.3 | 319.56% | 2.37% | $1,664 | $677,404 | 38.67% of rental value | 68.33% of rental value | 10% | 10% | Income Tax | Income Tax | 0 |
| 179 | Singapore | Singapore | 0.27 | 22.47 | 139.36% | 2.56% | $4,006 | $1,918,693 | 16% of rental valuation | 10% of rental Income Tax | 5%* | 3% | Income Tax + 4.4%* | Income Tax + 0.4% | 0 |
| 180 | Saint Kitts and Nevis | Basseterre | 0.25 | 12.5 | 164.00% | 6.54% | $2,100 | $350,000 | 0.20% | 0.30% | 22%* | 22%* | 0 | 0 | 0 |
| 181 | Comoros | Moroni | 0.24 | 41 | 587.00% | 4.36% | $200 | $50,000 | 3000F | 1% | 15% | 15% | 15% | 15% | 20% |
| 182 | USA | New York | 0.22 | 12.49 | 89.55% | 5.32% | $6,231 | $1,342,070 | 1.925% | 1.925% | 2.82% | 2.82% | Income Tax | Income Tax | 20% |
| 183 | Kenya | Nairobi | 0.17 | 71.69 | 1155.24% | 1.06% | $860 | $853,203 | 0.60% | 0.60% | 4% | 4% | 10% | Income Tax | 0 |
| 184 | China | Shenzhen | 0.08 | 40.26 | 321.52% | 1.34% | $1,646 | $1,343,350 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 185 | UK | London | 0.05 | 23.07 | 155.20% | 2.67% | $4,295 | $1,909,194 | £1862.40 | 0.46% X £400/m2 | 10% | 5% | Income Tax | Income Tax | 0 |
| 186 | St Vincent and The Grenadines | Kingstown | 0 | 10 | 120.00% | 8.25% | $800 | $100,000 | |||||||
| 187 | China | Shanghai | -0.01 | 43.03 | 335.34% | 1.93% | $3,214 | $1,591,191 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 188 | Hong Kong | Hong Kong | -0.04 | 41.43 | 258.78% | 1.98% | $5,030 | $2,714,690 | 5% of rental value | 15% of rental value | 4.25% | 8.50% | 15% | 15% | 0 |
| 189 | China | Beijing | -0.05 | 49.75 | 389.19% | 1.34% | $2,101 | $1,668,573 | 1.2%* | 4%* | 3%* | 5%* | Income Tax* | Income Tax* | 30%* |
| 190 | Syria | Damascus | -0.45 | 67.24 | 532.54% | 2.32% | $303 | $165,000 | 50% of rental value | 60% of rental value | 25% | 25% | Income Tax | Income Tax | 15% |
| 191 | Venezuela | Caracas | -0.66 | 195.75 | 3975.10% | 4.03% | $423 | $141,250 | 0.48% | 0.48% | 1.10% | 1.10% | Income Tax | Income Tax | 0 |
| 192 | Monaco | Monaco | -1.45 | 71.8 | 439.95% | 2.28% | $21,064 | $7,062,593 | 0 | 0 | 6.5% | 7.5% | 1% | 1% | 0 |
| 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 | La 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 |
The 2018 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 193 world cities. We list the estimated average rental and purchase price of a 100-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 February 2018.
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 100m2 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 February 2018 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.