A real estate expert has raised concern over the increased property transfer rate to 8% from the initial 5%, suggesting a reduction. Speaking in an interview with the Zambian Business Times– ZBT, Victors Hill Estate Managing Director Chrispin Samiselo said this is impacting the market negatively because some buyers and sellers are reluctant to fully engage in the market. This has led to middle-income families and buyers alike delaying purchases or rather choosing rentals instead. “It would be beneficial to the real estate sector if the PPT were reduced back to 5%, as things stand, the hike deters buyers and...
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