Savills Prime Residential Index: World Cities 20 February 2023
Rising interest rates are causing buyers to be mindful of the associated costs when transacting a property. For an international buyer, these costs can vary substantially across jurisdictions. Expressed as a percentage of property prices, they range from under 10% in Chinese cities to 35% in Singapore.
In an increasingly competitive market, Singapore’s government has maintained their Additional Buyer’s Stamp Duty (ABSD) at 30% for foreign buyers purchasing any residential property.
In comparison to other regions, North American cities cost of ownership comprises a substantial share of the buying, holding and selling cost of a property. These costs are largely comprised of annual property tax and house insurance.
This report was originally published in https://www.savills.com/research_articles/255800/339112-0
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