Transfer duty relief 'a boon to inner cities'.

(From Business Day (South Africa))

Byline: Nick Wilson

Transfer duty relief 'a boon to inner cities' Property Correspondent THE unexpected removal of transfer duty for residential properties costing less than R500 000 could be a huge boost for property redevelopment in SA's central business districts or inner cities, economists yesterday said.

The transfer duty changes in Finance Minister Trevor Manuel's budget speech in Parliament on Wednesday caught the property industry by surprise. Most analysts expected the exemption threshold to be moved to about R250000 from the previous R190000.

Colin Young, asset management head at Old Mutual …