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?

Transaction Costs

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

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.

Comments

Be the first to comment on this article!

Login or Register to submit a comment!
In order to promote open and spam-free conversations, Global Property Guide moderates commetns on all articles. You can expect that your comment will be published within 24 hours.