Buying property costs are moderate in Zambia
October 19, 2016
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.
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.