All vendors, whether local or non-nationals pay a Stamp Duty (S.D.) of 1% and a Property Transfer Tax (P.T.T.) of 2.5% (reduced from 7.5% from April 01, 2007. If there is a building on the land, the first $150,000.00 is not subject to P.T.T. Both S.D. and P.T.T. are calculated on the sale price of the property or the official land tax value, whichever is the higher.

Many persons form an offshore company to purchase property. This legally avoids the payment of S.D. and P.T.T. Many jurisdictions such as the British Virgin Islands do not have any tax on the transfer of shares. The seller therefore sells and the purchaser buys not the property but rather the shares in an offshore company which owns the property. The property remains owned by the company. However, with the PTT being reduced from 7.5% to 2.5%, the cost of forming and maintaining an offshore company may not be worthwhile.

Whenever a non-resident sells his property, he can apply to the Central Bank to have the proceeds of sale together with reasonable profits repatriated. This is usually granted. The same principle applies to rental income where the owner of the property is a non-resident.

Legal fees are charged on a sliding scale starting at 3% and ending at 1%. This is the minimum fee only and depending on the complexity of the matter involved fees can be higher. Generally fees tend to be approximately 2%. Real Estate Agents charge 5%. Many agents, especially those belonging to BEAVA, the Real Estate umbrella organisation co-broke on properties and split the commissions among themselves. Co-broking allows for a wider market.