Buying property costs are moderate in Zambia
Taxation Researcher | June 15, 2021
How high are realtors´ and lawyers´ fees in Zambia? What about other property purchase costs?
|Legal Fee||2.50% - 5%
2.50% - 5%
|Costs paid by buyer||6.50% - 11.00%|
|Costs paid by seller||2.50% - 5%|
|ROUNDTRIP TRANSACTION COSTS||7.00% - 16.00%|
| See Footnotes
Source: Global Property Guide
How difficult is the property purchase process in Zambia?
Footnotes to Transaction Costs Table
The round trip transaction costs include all costs of buying and then re-selling a property - lawyers´ fees, notaries´ fees, registration fees, taxes, agents´ fees, etc.
Transfer tax is levied at a flat rate of 5% on the selling price of the property or the market value of the property, whichever is higher.
Registration gee is levied at a flat rate of 1% of the property value.
Legal fees are generally around 5% to 10% of the property value. Legal fees are negotiable but must not exceed 10% of the property value. The buyer and seller each employ a lawyer for the transaction.