We calculate below total transaction costs, i.e., the costs of buying a property plus the costs of selling. Click on the country name for more details.

Transaction Costs by Region

African Transaction Costs

Botswana 7.24%
Cape Verde 13.50%
Gambia 7.50%
Ghana 12.13%
Kenya 5.13%
Mauritius 16.24%
Namibia 14.65%
Nigeria 29.44%
Reunion Is. 24.05%
Senegal 25.13%
Seychelles 12.00%
South Africa 14.65%
Tanzania 11.80%
Uganda 10.05%
Zambia 16.50%
Zimbabwe 7.20%

Asian Transaction Costs

Bangladesh 6.50%
Cambodia 7.70%
China 7.10%
Hong Kong 34.11%
India 11.88%
Indonesia 14.70%
Japan 13.36%
Macau 27.60%
Malaysia 5.18%
Mongolia 6.05%
Myanmar 5.00%
Nepal 2.78%
Pakistan 8.00%
Philippines 11.88%
Singapore 23.95%
South Korea 23.98%
Sri Lanka 107.60%
Taiwan 9.93%
Thailand 10.90%
Vietnam 5.57%

Caribbean Transaction Costs

Anguilla 23.01%
Antigua 22.50%
Aruba 9.00%
Bahamas 21.26%
Barbados 12.91%
Belize 18.50%
Bermuda 32.15%
BVI 16.50%
Cayman Is. 17.00%
Dom. Rep. 12.43%
Dominica 28.45%
Grenada 37.50%
Guadeloupe 16.30%
Jamaica 19.41%
Martinique 16.30%
Montserrat 10.10%
Neth. Antilles 12.16%
Puerto Rico 8.82%
St Kitts and Nevis 29.70%
St Lucia 23.25%
St Martin 9.00%
St Vincent & G 20.50%
Trinidad & T. 13.66%
Turks & C. Is. 16.10%
US Virgin Is. 12.36%

European Transaction Costs

Albania 5.34%
Andorra 14.82%
Austria 11.20%
Belgium 22.15%
Bulgaria 7.95%
Croatia 22.53%
Cyprus 15.73%
Czech Rep. 8.77%
Denmark 2.23%
Estonia 4.08%
Finland 9.01%
France 18.45%
Germany 12.68%
Greece 8.96%
Hungary 10.65%
Iceland 2.90%
Ireland 9.07%
Italy 16.13%
Latvia 6.11%
Liechtenstein 3.90%
Lithuania 3.34%
Luxembourg 14.31%
Macedonia 5.95%
Malta 18.56%
Moldova 21.48%
Monaco 17.57%
Montenegro 7.02%
Netherlands 10.24%
Norway 4.72%
Poland 18.23%
Portugal 12.92%
Romania 12.32%
Russia 23.11%
Serbia 6.06%
Slovak Rep. 4.81%
Slovenia 14.91%
Spain 11.09%
Sweden 8.25%
Switzerland 6.21%
Turkey 9.50%
UK 8.03%
Ukraine 6.00%

Latin American Transaction Costs

Argentina 10.79%
Bolivia 4.50%
Brazil 11.50%
Chile 14.85%
Colombia 5.86%
Costa Rica 11.35%
Ecuador 8.31%
El Salvador 9.21%
Guatemala 8.65%
Honduras 10.65%
Mexico 7.89%
Nicaragua 12.75%
Panama 8.30%
Paraguay 7.51%
Peru 7.99%
Uruguay 14.00%
Venezuela 14.89%

Middle Eastern Transaction Costs

Algeria 8.34%
Bahrain 5.00%
Egypt 11.17%
Iran 5.10%
Israel 6.74%
Jordan 10.94%
Lebanon 5.90%
Libya 3.25%
Morocco 14.75%
Oman 3.00%
Qatar 0.25%
Tunisia 9.10%
UAE 6.01%

North American Transaction Costs

Canada 13.55%
USA 10.00%

Pacific Transaction Costs

Australia 12.46%
Fiji 3.00%
Fr. Polynesia 21.28%
Guam 9.60%
New Zealand 4.52%
PNG 3.51%
Vanuatu 13.00%

The Global Property Guide provides transaction costs in two formats:

  1. Transaction costs as a range.

    We give a range because the costs paid by the buyers and sellers vary widely. Agentsand lawyers costs are often negotiable. Purchasers of expensive properties often pay proportionately less registration fess than purchasers of new properties. The reasons for the variation are explained in detail in the footnotes.

    Transaction costs as a range example: Philippines

  2. Transaction costs 'typical case'.

    We provide 'typical case' transaction costs in order to allow comparison between different countries. For comparisonthe following assumptions are adopted:

    1. The property purchased by a non-resident in the country where he/she is buying.
    2. The property worth USD 250,000 (€ 250,000 for Europe).
    3. Is paid in cash.
    4. Is a condominium located in a major city.

    Transaction costs comparison example: Asia

Our method for calculating transaction costs.

Some transaction costs are difficult to quantify. Others are very subjective. For the purpose of our research we focus on four major costs:

  • Registration costs are the fees and taxes incurred in registering the property with the competent land cadastre or registry. These include registration fees, stamp duties, and notary fees.
  • Real estate agent fees best capture various search costs. Real estate agent acts as a middleman in a property purchase, matching buyers with sellers, acting as intermediary in price negotiations. They typically assist buyers during the registration process.
  • Legal fees are paid to lawyers or to the conveyancer in the preparation of sales and purchase agreement. In some countries, the use of lawyers is mandatory. Lawyers are typically asked to ensure that there are no liens on the property. Legal fees are different from notary fees.
  • Sales and transfer taxes are imposed by local and national governments on the sale and purchase of real estate. They include Deed Taxes, Transfer Taxes and Value-added Tax (VAT).

Other incidental costs such as survey fees, acquisition fee for tax number or residency permit or costs for setting up a company are not included in our calculation, for various reasons. Annual property taxes and capital gains taxes are also not included, although they are typically paid before the property is registered.

Sources

Global Property Guide Research, with inputs from local real estate agents, government agencies, and World Bank Doing Business