12/08/2026
6.5 percent additional cost that most home buyers do not know
Many people who are buying a house in Addis Ababa city do not know that when they go to the sub-city land management offices to change the name of the map, they will face huge expenses that they did not think about and did not support.
If buyers do not take into account the government's transfer tax and miscellaneous fees from the beginning, they will completely ruin their financial plan and face huge financial losses and risk, real estate expert Mr. Yosef warns.
The 6.5 percent down payment required immediately upon purchase of a home is calculated based not only on the price written on the contract, but also on the higher of the government's minimum spot rate and the contract price.
This fee is a combination of 4 percent Ashura or name transfer, 2 percent stamp duty and 0.5 percent emergency fund.
Therefore, it is stated that any home buyer or real estate developer should make a proper financial arrangement that includes these completion costs before the purchase contract.
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