Belgium has the world's highest real estate tax

July 27, 2016

Belgium has the world's highest real estate tax

The tax rate on real estate varies around the world, ranging from 11.3% in Belgium and ending with 0% in New Zealand. International company UHY Haines Norton compared taxes in different countries when purchasing property worth $1 million.

In Belgium, buyers of such a facility will have to pay $113 131, and in Russia – only $30,35. The tax rate in Spain is 8%, which is equivalent to $80K. Spain is followed by Pakistan. France and Germany took 4th and 6th places respectively.


Among the European countries included in the top ten - Croatia and Malta ($50K).


The average world tax rate on real estate is 3.3%, the average European rate is slightly higher - 3.8%. However, in Europe there are some countries where buying a home does not involve high taxes. So, in Romania the tax rate is only 0.2%, in Ireland 1%, in Italy - 1,7%.

Based on the materials of tax-news.com

Photocredit Depositphotos.com