How Much Is Tax And Transfer For A Condo?

[buddhafly]

if i we're to buy a condo for, say, 8 or 9 million, what would be the total tax, transfer, etc fees?

thanks

[fletchsmile]

Places I've looked at recently have been around 2%. Tho' it seems to vary as to who pays. Have seen buyer 2%, and half half

[gosmond]

It depends how long the owner has had it. The shorter the period, the higher the tax. It also depends on the estimate price. You buy for 9m but tell the land registration 5m (and give them a bung). Also, if you are saying 5m you will need to transfer the money in from overseas in 2 lots. Approx 5m plus the remainder as they will ask questions if yoy transfer the whole lot in one. It's about 0.5% but I'm not sure. But who pays is negotiable. Try and get the seller to pay, if not 50/50 is the most you should expect (never 100%). Hope that helps a bit.