The Addis Ababa City Administration has introduced a revised fixed-price rate to calculate transaction taxes for house sales. The revised rate will be applied to calculate stamp duty (2%), Capital gain tax, and Ashura (4%) fees. This revision notably reduces the previous predetermined fixed price for condominiums and apartments, averaging a decrease of approximately 34%. The apartment rate now ranges from ETB 48,180 – 81,798/sqm, while Condominiums now range from ETB 25,080 – 47,769/sqm.
Key Revisions:
The revised pricing scheme also established fixed rates for other property categories:-
- G+0 villas (without bricks): ETB 15,000 per square meter.
- Brick-constructed G+0 villas: ETB 20,000 per square meter.
- Villas (G+1 to G+5): ETB 25,000 per square meter.
- Villas (G+6 and above): ETB 30,000 per square meter.
Notably, the pricing for houses under construction will be determined based on the current stage of development. The implementation of these new fixed rates will not impact ongoing property ownership transfers where the sale occurred at the previously established price.
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