Budget 2021

#Budget2017: Changes to transfer duty

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Cape Town - Finance Minister Pravin Gordhan announced in his Budget 2017 that properties less than R900 000 will no longer attract transfer duty.

Jonathan Kohler, CEO of Landsdowne Investment Properties, applauds this announcement.

“This move will help to encourage home ownership in South Africa – especially in the second-hand market. With higher prices in new developments such as the Fourways Precinct attracting building costs of approximately R19 000 per square meter and other new developments in the Waterfall area attracting building fees of approximately R23 000 per square meter, the Budget 2017 announcement will positively impact prospective first time homeowners who will now be able to enter the market," said Kohler.  

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