What do I need to know when buying property in Namibia?
When we asked expats what advice they would give a foreigner before buying a property in Namibia, they said...
"1. It is important to research the area you are interested in buying property in, to ensure it is suitable for your needs. 2. It is important to understand the legal requirements for buying property in Namibia, including the need to obtain a permit from the Ministry of Lands and Resettlement. 3. It is important to understand the taxation requirements for buying property in Namibia, including the need to pay transfer duty and capital gains tax. 4. It is important to understand the different types of property available in Namibia, including freehold, leasehold and communal land. 5. It is important to understand the different types of financing available for buying property in Namibia, including mortgages, loans and other forms of financing. 6. It is important to understand the different types of insurance available for buying property in Namibia, including home insurance, title insurance and other forms of insurance. 7. It is important to understand the different types of services available for buying property in Namibia, including real estate agents, lawyers and other professionals. 8. It is important to understand the different types of fees associated with buying property in Namibia, including transfer fees, registration fees and other fees. 9. It is important to understand the different types of restrictions associated with buying property in Namibia, including restrictions on foreign ownership and restrictions on the use of the property," said another in Namibia.
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What do I need to know when buying property in Namibia?
If you live in Namibia, newcomers to Namibia would love to hear your answer to this question:
