What your transfer fees will be in South Africa

Article summary

• Transfer costs are paid to the conveyancing attorney who transfers the property to your name.
• Transfer duty is a tax paid on the transfer costs. Properties valued below R1 100 000 are exempt.
• The higher the value of the property, the higher your transfer costs and transfer duty.

When you purchase a home, you pay transfer costs, which is the fee paid to the conveyancing attorney who transfers the home to your name.

In addition to the transfer costs, you also have to pay a fee to SARS, called transfer duty. As of 2023, properties valued below R1 100 000 are exempt from transfer duty.

The higher the value of the home, the higher your transfer costs and transfer duty will be. Here’s more detail so you can budget appropriately.

Transfer fees: What you’ll pay

Transfer duty (1 March 2023 – 29 February 2024)

Value of property	Rate
Under R1 100 000	0%
R1 100 001 – 1 512 500	3% of the value above R1 100 000
R1 512 501 – 2 117 500	R12 375 + 6% of the value above R 1 512 500
R2 117 501 – 2 722 500	R48 675 + 8% of the value above R 2 117 500
R2 722 501 – 12 100 000	R97 075 +11% of the value above R2 722 500
R12 100 001 and above	R1 128 600 + 13% of the value exceeding R12 100 00

 

Transfer costs

You can use our Transfer Cost Calculator to determine what you’ll pay for transfer fees and transfer duty.

It will also calculate what you’ll owe on bond registration — another additional expense. This is the process of registering the bond in your name with the Deeds’ Office.

Getting the best deal on your home purchase

Transfer costs and bond registration are just some of the additional costs you’ll need to factor into a home purchase.

In order to make room in your budget for these additional expenses, you’ll want to get the best deal on your home loan. A deal with low-interest rates saves money that can be put towards the deposit, transfer fees and transfer duty.

To get the best home loan deal, apply with ooba Home Loans. We submit your application to multiple banks so you can compare deals and choose the one with the best interest rates.

We also offer a range of tools that can make the homebuying process easier.  Start with our Bond Calculator, then use our Bond Indicator to determine what you can afford. Finally, when you’re ready, you can apply for a home loan.