Buying property costs are moderate in Zambia

How high are realtors´ and lawyers´ fees in Zambia? What about other property purchase costs?

Transaction Costs

Who Pays?
Transfer Tax 5% buyer
Registration Fee 1% buyer
Legal Fee 2.50% - 5%
2.50% - 5%
Costs paid by buyer 6.50% - 11.00%
Costs paid by seller 2.50% - 5%
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
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.