Last Updated: April 27, 2015
KEY HOUSE PRICE FACTS
|Capital Gains Tax (Effective)||45.00%|
|Currency +/- Value||$ 1.13|
|Economic Freedom Rating||81.02|
|Ec. Freedom 5 Years||-2.51%|
|GDP Per Capita||$ 51,737|
|GDP/Cap Growth 1 Year||0.96%|
|GDP/Cap Growth 5 Years||3.70%|
|Landlord and Tenant Law||Neutral|
|House Price Change 1 Year||4.98%|
|House Price Change 5 Years||44.14%|
|House Price Change 10 Years||63.27%|
|Price/Rent Ratio||40 yrs|
|Square Metre Prices||$ 10,711|
|Property Rights Index||82|
|Rental Income Tax (Effective)||24.38%|
|Roundtrip Transaction Costs||12.46%|
|Taxes on Residents (Average Rate)||0.96%|
|Price/GDP per Cap||20.70x|
|Source: Global Property Guide|
The annual (year-on-year) percentage change in house prices or house price index from 2005 to 2006 or the latest data available, not adjusted for inflation.Source: Various sources
The percentage change in house prices or house price index from 2001 to 2006 or the latest data available, not adjusted for inflation.Source: Various sources
The percentage change in house prices or house price index from 1996 to 2006 or the latest data available, not adjusted for inflation.Source: Various sources
Gross annual rental income, expressed as a percentage of property purchase price. This is what a landlord can expect as return on his investment
Property is a 120-sq. m. apartment located in the premier city centre. (See our list of premier cities)Source: Global Property Guide Research
Average per square metre (sq. m.) price in US$ of a 120-sq. m. apartment located in the centre of the most important city of each country, either the:Administrative capital; and/or
- Financial capital; and/or
- The centre of the rental market.
See our list of premier citiesSource: Global Property Guide Research
The total cost incurred in buying and selling a property, expressed as percentage of the property value. Assumptions:
- The property is paid in cash
- The property is old (i.e. not newly built)
- The property is worth US$250,000 (or €250,000, depending on local currency)
The tax levied on the average annual income on a rental apartment/property in the country. Assumptions:
- Income is equivalent to US$1,500 per month; (or €21,500, depending on local currency)
- The tax is payable jointly by a foreign-domiciled couple;
- The most tax-efficient form of rental is chosen;
- The maximum reasonable and safe allowances, deductions, depreciations, and expenses, are deducted.
Read Rental Income Tax: Base Case Assumptions for more discussion.Source: Global Property Guide Research, Contributing Accounting Firms
The tax levied on the increase in value between the date of property purchase and the date of sale. Assumptions:
- The property is directly and jointly owned by husband and wife;
- The husband and wife are both non-residents;
- The couple have owned the property for 10 years;
- The property has appreciated in value by 100% over the 10 years to sale;
- The property was worth US$250,000 or €250,000 at purchase; and
- The sale is the only source of capital gains in the country.
The amount of control the landlord has over his property measured through a five-point rating scale:
- Strongly Pro-landlord = 2
- Pro-landlord = 1
- Neutral = 0
- Pro-tenant = -1
- Strongly Pro-tenant= -2
Read Landlord-Tenant Law Rating System for more discussion.Source: Global Property Guide Research, Contributing Law Firms
The amount of national income or output divided by the population, roughly income per person. GDP is expressed in current U.S. dollars per person.Source: IMF World Economic Outlook Database
The annual (year-on-year) percentage change in real GDP per capita from 2005 to 2006.Source: IMF World Economic Outlook Database
The average annual percentage change in real GDP per capita from 2001 to 2006.Source: IMF World Economic Outlook Database
Scores are from 0 to 100, higher scores are more desirable i.e. more conducive to economic growth. The lower the score, the greater the level of government interference in the economy and the less economic freedom a country enjoys.
- Free - 80 - 100;
- Mostly Free - 70 - 79.9;
- Moderately Free - 60 - 69.9;
- Mostly Unfree - 50 to 59.9; and
- Repressed - 0 - 49.9
The change in the Index of Economic Freedom score over period of five years. The figures show changes in the level of economic freedom a country enjoys.
- Greatly Improved
- Much Worse
The Growth Competitiveness Index (GCI) aims to quantify the quality of the macroeconomic environment, the state of a country's public institutions, and the level of technological readiness.
Higher scores are more desirable, i.e. the better the investment climate of a country, the higher the score. Five categories of growth competitiveness have been identified:
- Very High - 5.51 to 7
- High - 4.51 to 5.50
- Moderate - 3.51 to 4.50
- Low - 3.01 to 3.50
- Very Low - 0 to 3.00
A subcomponent of the Index of Economic Freedom, the property rights index scores the degree to which a country's laws protect private property rights and the degree to which its government enforces those laws.
Scores are from 0 to 100, higher scores are more desirable, i.e. the better property rights are protected.Source: The Heritage Foundation and the Wall Street Journal
The figure shows how much how much a bundle of goods and services costing US$1 in the US would cost in other countries (similar to The Economist's Big Mac Index). To arrive at the figure, we take the difference between IMF's nominal GDP figures, and their purchasing power parity GDP figures.Source: calculated using figures from the IMF World Economic Outlook Database.
This ratio is typically used for measuring undervaluation/overvaluation of real estate prices, calculated by dividing the gross rental yield by 100 - so the higher the yield, the lower the price/rent ratio.
When were these data collected? Click on individual countries to see the data collection date.
The percentage of gross earnings given up in tax, including any social security contributions. Calculated for a single worker without children, earning 100 % of the average wage, for selected OECD countries.
Source: OECD Tax Database