Buy Property in Zambia | Pam Golding Zambia (2024)

FAQs

How much is an acre in Zambia? ›

It is important to realise that an acre can be measured in any shape - from rectangles to circles or even hexagons - so long as the total area of land is 4046 square meters.

The labour costs of individual tradespeople in Zambia are fairly low and even if you hire a contractor or a construction company rather than individuals, this can still work out cheaper overall than buying an existing house on the property market.

Currently all land in Zambia is state land and the ownership is vested in the president; there is no private land in the country. Titles of land owned by foreigners are for 99 year state leases and ownership is not conferred.

Property transfer tax – This is 5% of the value of land and is paid to the Zambia Revenue Authority by the vendor.

The agricultural sector in Zambia supports livelihoods of 85% of the population. Maize is the principal cash crop (>65% of cropped land) as well as the main staple crop.

Having said this, an average house being constructed in a rural area with local materials i.e. brick work can be as low as $15,000–25,000 with basic amenities while in highly urbanized areas a basic house will cost between $50,000–150,000.

Lack of employment has contributed the increase of cost of living in Zambia as shown in the table and doughnut below. An employment freeze is one of the main factors that have affected the cost of living on in Copper- belt province as shown in the table and pie-Chart above.

Ranch-style homes are not only popular but also one of the most cost-efficient home styles to build. These homes typically come in a rectangular shape, though many resemble “T” or “S” shapes. The ranch style's simple layout reduces complications in construction.

If you want to move to Zambia, and you are not a Zambian citizen, you will need to get an Immigration Permit. The type of permit that is appropriate for you depends on your intended length and purpose of stay in Zambia.

Do foreigners pay tax in Zambia? ›

Taxation in Zambia

Residents are taxed on domestic source of income and certain types of foreign income, non-residents are normally taxed on Zambian source of income. Zambia has the following direct taxes: Company Income Tax, Personal Income Tax, Withholding Tax, Presumptive Tax and Property Transfer Tax.

Visa On Arrival for Zambia

Tourist visas on arrival allow the visitor to stay for a maximum of 90 days, while business visas on arrival for Zambia only allow up to 30 days in the country.

Rate of Tax The rate of tax applicable on the transfer of land or shares is 5% and 10% for a mining right. Note: The PTT on land, shares and mining rights is paid by the seller.

Property taxes

Zambia does not have any other property tax other than Property Transfer Tax (PTT) (see below).

Age 21 is minimum qualification to own land in Zambia in own right.

A single person estimated monthly costs are 595.7$ without rent. Cost of living in Zambia is, on average, 50.7% lower than in United States. Rent in Zambia is, on average, 79.4% lower than in United States.

The cost of living in Zambia is remarkably low for those paid in a strong currency. In the Mercer Cost of Living Survey for 2023, which compares expat cities around the world, Lusaka was ranked 197th out of 227 cities. As Zambia is a landlocked country, it is heavily dependent on its neighbours.

Zambia ranked 85th out of 197 countries by cost of living and the 148th best country to live in. The average salary after taxes in Zambia is $393, which is enough to cover living expenses for 0.4 months.

Copper and cobalt are among Zambia's main exports while non-traditional exports include cotton, coffee, fresh flowers, burley tobacco, gemstones and maize (corn) among others.

Sugar cane, maize, and yams are also significant cash crops. Notably, Africa's yam production is 97% of the global total. West Africa is known as the “yam belt,” covering Nigeria, Ghana, Benin, and Côte d'Ivoire.

What are the top 3 cash crops? ›

Corn, soybeans, barley and oats

The largest United States crop in terms of total production is corn, the majority of which is grown in a region known as the Corn Belt. The second largest crop grown in the United States is soybeans. As with corn, soybeans are primarily grown in the Midwestern states.

Ultimately, the total number of blocks required to complete the construction of a three-bedrooms flat = 903 + 1452 + 677 = 3032 blocks (disregarding wastage).

It will cost anywhere between 40,000 to a million dollars. Depends on what u want to build. Price difference depends on the locality. A good 3 bed room house will be around 50,000.

More Cost Effective to Build

Did you know? It is more cost-effective to build a two story home than a one story home. Typically, it costs less per square foot to construct because two story home plans offer smaller blueprints.

Kabulonga. The leafy suburb of Kabulonga is one of Lusaka's oldest and most elite.

Zambia Monthly Earnings stood at 211 USD in Dec 2021, compared with the previous figure of 240 USD in Dec 2020 See the table below for more data.

Jesuit Centre for Theological Reflection (JCTR) says Kasama is the cheapest town to live in, standing at K4, 920 as at April 2022, from K3, 854 in January this year.

Overall, it's cheaper to build a home than to buy one in California, with 13 out of the 20 counties saving you money if you decide to build your house from scratch. Budget-wise, building is more favorable in Southern California whereas Central California caters best to those interested in buying.

The straight answer is yes; building a modern home for 100K or less is possible. However, you will have to be very conscious while designing your home's interior. Similarly, you also must opt for durable yet cost-effective add-ons.

While spring is an ideal time to start building a home, the fall and winter months are usually when building materials and construction costs are lowest because there is less demand.

Can I drive in Zambia with US license? ›

Foreigners wanting to drive in Zambia need to hold an international driving permit; the only foreign driving licences that are recognised in Zambia are those from other SADC countries. New residents from outside these countries are required to pass a local driving test.

All ordinary Visitors and Tourists are entitled to a free ninety (90) days visit in any period of twelve (12) months from the day of first entry into Zambia while business Visitors are entitled to a free thirty (30) days visit in any period of twelve (12) months.

U.S. Passport holders do not require a visa to visit Zambia. You must carry the original or a certified copy of your passport and immigration permit at all times. Certified copies must be obtained from the office that issued the permit.

Opening a bank account in Zambia

While it is possible to open a bank account in Zambia, many expats maintain an account in their own country. If opening a local account, it may be safer and easier to use an international bank with a presence in the country.

Zambia and Nigeria provide examples of tax dodging practices among transnational corporations, enabled by tax havens. Zambia, a country rich in natural resources, gains scant rewards from the foreign companies that extract its mineral wealth.

Personal Income Tax Rate in Zambia averaged 36.59 percent from 2013 until 2023, reaching an all time high of 37.50 percent in 2017 and a record low of 35.00 percent in 2014. This page provides - Zambia Personal Income Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

If you are a U.S. citizen planning a trip to Zambia, you are lucky. You do not have to apply for a Zambia E-Visa months in advance. United States citizens qualify for the visa-on-arrival program, which means you can apply for your visa only 3 business days before your trip.

A dual citizen can use either passport in Zambia. Both passports should have the same details.

Buying property in Zambia is a fairly easy process that need not be complicated if proper procedure is followed and any potential loopholes checked. Whether you're looking for land, farms for sale, houses for sale or any other investment property in Zambia, the process shouldn't be complicate at all.

How much is rental income tax in Zambia? ›

From 1 January 2022, rental income is taxed by way of turnover tax at the rate of 0% for gross rental income below K 12,000, 4% for gross rental income between K 12,000 and K800,000 and 12.5% for gross rental income above K800,000 per annum.

Ownership eligibility of land in Zambia Buying property in Zambia should be relatively straightforward, but we would always recommend that you instruct the services of a reputable agent, surveyor and lawyer.

Exempt persons In cases where the tenant is either a diplomat, diplomatic mission or any other person who by law is exempt from paying tax, the landlord is mandated to pay the tax on their own.

Any person carrying on any business with an annual turnover of K800,000 or less. Any person whose business earnings are subject to withholding tax and it is not the final tax such as, rental income, commissions, interest earned by companies, royalties earned by residents, etc.

Statutory law marriage: Marriage is regulated by the Marriage Act. To marry, one has to be at least 21 years of age. A person below 21 years needs parental consent to marry.

The Oakland Institute says that purchase prices can range from as little to $3 to $6 an acre. Leases can be for up to 99 years at $0.75 an acre. Farmland in the U.S. sells for $560 to $12,000 an acre. Dirt cheap land prices in Africa lead to massive profits on Wall Street.

Ownership eligibility of land in Zambia Buying property in Zambia should be relatively straightforward, but we would always recommend that you instruct the services of a reputable agent, surveyor and lawyer. This document has been compiled as a guide for potential purchasers of property in Zambia.

Medium scale farmers (with farm sizes of 20-100 ha) comprise about 400,000 farmers, while commercial farmers (with farmland over 100 ha) are estimated at approximately 740. Average arable land holding is estimated at 1.5 ha [8].

1 million per acre.

Where is the cheapest place to buy land per acre? ›

How affordable is property in Africa? Numbeo.com shows that Ghana is the most expensive and you would pay out about 87.65% of your earnings on your property. This is followed by Kenya at 24.24%, Algeria, Nigeria, Morocco, Egypt, Tunisia, Mauritius and South Africa at the lowest end of the price scale.

Is it a good investment? Yes. Land is a tangible investment that will continue to go up in value over time. So, if a buyer purchases land today for $250,000, then in a few years, its value can increase to $400,000.

The country's central and hub location in the region as well as a combination of the following key strengths makes Zambia an ideal investment location: Peace and a stable political system. Positive and investor-friendly economic environment.

Rate of Tax The rate of tax applicable on the transfer of land or shares is 5% and 10% for a mining right. Note: The PTT on land, shares and mining rights is paid by the seller.

A Farmer working in Zambia will typically earn around 23,380 ZMW per year, and this can range from the lowest average salary of about 12,180 ZMW to the highest average salary of 34,160 ZMW. These are average salaries for a Farmer in Zambia and include benefits such as housing and transport.

Overview. The Zambian agriculture sector comprises crops, livestock, and fisheries. There are three broad categories of farmers: small-scale, medium, and large-scale.

Smallholder farming households number approximately 1.5 million, over 20 per cent of which are headed by women.

KSh4. 5 Million (Kulta-ID - 00208) Nearby.

How much is stamp duty on land in Nairobi? ›

Stamp duty charge for mortgages in Kenya is payable at the rate of 0.1% of the amount secured by any principal security document. Stamp duty is payable on supplemental security documents at the nominal rate of at Sh2 per every Sh1,000.