Property for sale in Zambia

1/ Capital: Lusaka

Is the capital and largest city of Zambia. It is located in the southern part of the central plateau of the country, at an elevation of 1300 m (4256 ft)

2/ Country: Zambia

Is a landlocked country in Southern Africa. The neighboring countries are the Democratic Republic of the Congo to the north, Tanzania to the north-east, Malawi to the east, Mozambique, Zimbabwe, Botswana, and Namibia to the south, and Angola to the west.

3/ Property for sale in Zambia

Since the 1990s the Zambian economy has been characterized by market orientation policies, with the country becoming increasingly integrated into the world economy. Reforms include the abolition of foreign exchange controls, the deregulation of interest and foreign exchange rates, the reform of land tenure, a reduction of tariffs and embargoes to open up domestic markets, a programme of privatization for many state owned enterprises, and the strengthening of financial markets through merchant banking

and the stock exchange.

Zambia achieved economic growth of 4.6% in 2004, recording positive performance for the sixth consecutive year. Government efforts to stimulate growth in the agriculture, tourism and mining sectors are expected to drive overall economic growth in 2005/6

Over the past ten years the market has witnessed the growth of the real estate market, increased home ownership, increased residential and business tenancies and higher proportions of commercial buildings in private sector ownership. Market transactions, both sales and leasing, are common.

All land in Zambia belongs to the people, held in trust by the President and is leased out for a maximum of 99 years renewable. On a sale, the seller is required to pay Property Transfer Tax of 3% of the realized value of the property.

Typical commercial lease terms are for 2 - 5 years renewable; shopping centre tenants generally sign leases for 5 years with an option for a further 5 years. Residential leases are 1 - 3 years renewable. As a result of the previous unpredictable Kwacha, real estate rents are often transacted in US Dollars.