Buying property costs are moderate in Zambia
How high are realtors´ and lawyers´ fees in Zambia? What about other property purchase costs?
Transaction Costs |
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| Who Pays? | ||
| Transfer Tax | 5% | buyer |
| Registration Fee | 1% | buyer |
| Legal Fee | 2.50% - 5% 2.50% - 5% |
buyer seller |
| 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 |
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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
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 Fee
Registration gee is levied at a flat rate of 1% of the property value.
Legal Fee
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.