Cash required is more than the deposit
The amount you need before completion has two different parts: cash that becomes equity in the property and other upfront cash for taxes, fees and prepayments. Some of the latter may fund future obligations, such as an escrow account, rather than disappear as a fee. The distinction matters because two markets can require similar liquidity while leaving different amounts invested in the property.
| Component | What it represents | What changes it |
|---|---|---|
| Price contribution | The part of the price not covered by the modeled mortgage. | Financing rate and, in Spain, Italy and Switzerland, lender valuation. |
| Purchase tax | SDLT, GrESt, ITP, Italian purchase taxes or the locally modeled equivalent. | Location, buyer/property status and transaction type. |
| Other upfront amounts | Notary, registry, lender, broker/agency, prepaid and escrow amounts included by the local model. | Local quotes, the transaction's fee allocation and the model's planning assumptions. |
Why the same property value gives six different answers
The country models do not use one invented international percentage. England applies SDLT bands; German transfer tax varies by Land; Spanish ITP and new-build taxes vary by territory and transaction type; Italy can use the cadastral prezzo-valore base; Switzerland separates bank lending value and equity source; and US cash-to-close combines lender, title, government, prepaid and escrow charges. The comparison keeps one headline property value and financing rate while preserving those distinct local mechanics.
Build the same purchase in the text
Financing comparison note. Here appraisal or bank lending value is held equal to purchase price, so 80% financing produces a 20% price contribution in every starting scenario. The shared input stops at 80% to keep the Swiss example within its conventional lending assumption; this is a comparison choice, not a universal legal ceiling. The UK expresses the rate as the complementary deposit percentage; Spain, Italy and Switzerland calculate a mortgage against the modeled lending base; the US model calculates the down payment directly; and Germany adds the same unfinanced share at the comparison layer. The full country guides expose the local valuation, loan and cost inputs for a more precise transaction.
The starting GBP, CHF and USD rates are ECB reference rates for 16 September 2026. They are information/reference rates, not transaction rates.
Cash structure across six markets
EUR equivalent · same property value
The direct answer
—
The same property value across six markets
| Market | Price equity | Purchase tax | Other modeled costs | Total cashEUR equivalent |
|---|
Tax shown as “—” is not separately calculated, not necessarily zero. UK, Swiss and US totals are converted to euro. Displayed money is rounded to whole units; calculations keep their underlying precision.
Why Italy, Switzerland and the US need extra context
Italy: the qualifying prima casa example applies registration tax to a modeled cadastral prezzo-valore base, not the sale price. Losing that relief or changing transaction type can raise tax substantially. The agency allowance scales with price; notary and other mortgage-cost allowances stay fixed.
Switzerland: lending value equals price and purchase costs are estimated at 3%, without a separate national tax line. The minimum equity from outside Pillar 2 is part of the equity shown, not an extra cost. A lower bank valuation can raise required cash.
US: the $3,500 title-and-government allowance includes charges that are not split into a comparable tax line. Compare total cash, not the tax column alone.
What can materially change these starting results
Local results change with the tax jurisdiction and buyer status (UK, Germany, Spain and US), the transaction and reliefs (Italy), lender valuation and equity source (Spain, Italy and Switzerland), and actual broker, notary, lender, title and prepaid quotes. Use the country guides for those inputs.
What is still outside the comparison
These totals exclude a personal safety reserve and ongoing mortgage, tax, insurance, maintenance and service costs. They do not guarantee lending approval or a valuation.
How the comparison is calculated
One euro price and financing rate feed the local purchase models; UK, Swiss and US prices are converted first. Germany's model covers Kaufnebenkosten only, so this page adds the shared unfinanced price contribution. Spain, Italy and Switzerland start with lender value equal to price; a lower valuation can require more equity.
Like-for-like adjustments: UK moving and initial-works allowances are excluded; legal, survey and mortgage-fee defaults remain. Italy's agency allowance scales from €10,980 at €300,000, while the €4,250 other mortgage-cost allowance and notary costs stay fixed. The US uses $4,500 lender, $3,500 title-and-government and $6,000 prepaid/escrow starting allowances, with no credits or deposit. These are planning inputs, not universal rates; use local quotes in the full guides.
- GOV.UK — residential SDLT rates
- Deutsches Notarinstitut — Grunderwerbsteuer rates by Land · GNotKG
- Banco de España — mortgage valuation guidance · Agencia Tributaria · Catastro
- Agenzia delle Entrate — purchase taxes, prima casa and prezzo-valore · Banca d'Italia — mortgage valuation
- FINMA — mortgage lending standards and risks · Federal Social Insurance Office — Pillar 2 and owner-occupied housing
- Consumer Financial Protection Bureau — US closing-cost and cash-to-close components
- European Central Bank — euro foreign-exchange reference rates