South Africa
What do I need to know when buying property in South Africa?
When we asked expats what advice they would give a foreigner before buying a property in South Africa, they said...
"1. It is important to research the area you are looking to buy in, as well as the local market, to ensure you are making a sound investment. 2. It is also important to get a professional property valuation to ensure you are paying a fair price for the property. 3. You should also consider the costs associated with buying a property, such as transfer fees, legal fees, and bond registration fees. 4. It is also important to ensure that the property is free from any encumbrances, such as mortgages or liens. 5. You should also be aware of the different types of property ownership available in South Africa, such as freehold, leasehold, and sectional title. 6. It is also important to be aware of the different taxes and levies that may be applicable to the property, such as transfer duty, capital gains tax, and property rates. 7. Finally, it is important to ensure that you have the necessary documents in place, such as a valid title deed, to ensure the property is legally yours," commented one expat who made the move to South Africa.
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SJB GlobalSJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
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What do I need to know when buying property in South Africa?
If you live in South Africa, newcomers to South Africa would love to hear your answer to this question:
