If you’re buying a house in Namibia, you’ve got to pay transfer duty. This is a kind of property tax set by governments to be paid by those who buy and sell real estate. In Namibia, this tax is calculated based on a progressive scale; the more expensive your house is, the higher percentage you’ll be taxed on it. Here’s how much Transfer Duty (or ‘Transfer Tax’) must be paid based on sale price:

The transfer duty is levied at the sale value of a property, which is the higher of the purchase price and current market value. This means that your agent will calculate the purchase price or sale value as part of their deal with you, so all you need to do is pay a certain percentage of that sale value to complete the transaction.

If you’re buying property in Namibia, there are several steps involved:

• Your real estate agent will help find properties that meet your requirements. They’ll also negotiate with sellers on your behalf and help close the deal by preparing contracts for both parties.
• Once an agreement is reached between buyer and seller, they sign off on contract documents provided by the real estate agent; these include details such as payment installments (if applicable), penalties for breach of contract or failure to deliver possession within stipulated time frames etcetera…

Transfer Duty, or ‘Transfer Tax’

Transfer duty, or ‘transfer tax’ in some countries, is a kind of property tax set by governments to be paid by those who buy and sell real estate. In Namibia, this tax is calculated based on a progressive scale; the more expensive your house is, the higher percentage you’ll be taxed on it.

The rate at which transfer duty is paid varies depending on the price of your home or business premises. For example: if you’re buying an apartment that costs less than N$1 million (around US$50k), then you’ll pay between 0% and 1% in transfer duty; for anything above that amount but below N$10 million (about US$600k), then it’s between 2% and 4%; for anything above N$10 million but below N$20 million (about US$1 million), then it’s 5%; over N$20 million but under N$30 million (about US$3m) – 6%; over N $30m but under $40m – 7%; over $40m – 8%.

How much Transfer Duty will I have to pay?

The amount of transfer duty you’ll have to pay will depend on the purchase price. The higher the purchase price, the more transfer duty you will pay. The lower the purchase price, the less transfer duty you will pay. For example:

If your property costs N$2000 000, then your transfer duty is 2% on top of this amount or N$4000 which would be paid at the registration stage by whoever pays for it. If your property costs N$1 000 000 then your transfer duty is 4% on top of this amount or N$40 000 which would be paid at the registration stage by whoever pays for it.

The amount also depends on where exactly in Namibia you are buying and how much land per unit there is available in that area (Km2).