Buying Land In Senegal: Depending on its area and location, purchasing land in Senegal involves more or less high costs. Moreover, this purchase must be done by a process and well-defined legal provisions. At the end of your reading, you will come to know where and how to make this real estate investment in the land of Teranga.
Buy land with capacity
As part of its economic development and to win the challenge to emerge, the state of Senegal has chosen the Dakar – Mambor – Thies triangle as a bridgehead. This regional area with strategic challenges is the subject of large-scale development. Major structural projects related to agriculture, poultry, industrial and tourism sectors are in progress or the process of commissioning.
Multiple Infrastructure
Such as Blaise Diagne International Airport (AIBD), Special Integrated Economic Zone (ZESI), Diamniadio’s urban center, and Lac Rose, Diamniadio Industrial area, Second University of Dakar, Diamniadio-Motorway Project. AIBD, AIBD-Thiess, and AIBD-Mbor are hosted or will be hosted.
With the opening of the toll motorway, the Dakar-Mbor-Thes triangle has become the place where organizations and individuals buy land and develop it.
- The international metropolis of Dakar
- The balanced metropolis of Thiès and Ambor
- Diamniadio, DIASS, and Lac Rose’s urban and economic expansion centers
- Agricultural Center:
In given the strategic nature of the region, it involves spending a certain amount of money to buy land.
In the areas of Thies and Ambor, the cost of square meters is quite low, namely 35,000 FCFA. In other areas of the Nias region, such as Luga and Saint-Louis, there are fluctuations in square meters between 10,000 and 15,000 FCFA.
Lakh rose land is the most expensive in this area with 20,000 FCFA per square meter.
When purchasing land in Senegal, Africa it should be kept in mind that these price differences between cities and regions can be easily explained by evaluating their respective attractions. For example, if land in Dakar is so costly, it stands to purpose that the city has many assets: national and university support, half of national GDP, almost all industrial companies, etc.
3 possible scenarios for the purchase of land
The purchase and sale of land in Senegal involve the signing of 3 types of contracts and the monitoring of an equal number of specific procedures: occupancy permits, land title, and amphitheatric lease.
Occupancy permit
The right of administration is required for the acquisition of land with an occupancy permit. The fine and behavior imposed on this land may be subject to separate sales. In the presence of 2 witnesses per party, the contract is signed under private signature. Once signed, the contract must be registered with the tax and domain.
Land title while Buying Land In Senegal
In this case, the deed of sale cannot be made under a private signature. This necessarily requires the participation of a regional competent notary. And if the transaction involves one (or more agents), it must have a regular notarized power of attorney. Failure to follow these provisions void the contract.
Amphibious strap
The contract relates to rural land and covers a lease term of between 18 and 99 years. During this period, the buyer or lessee of the land acquires actual rights, such as the right to mortgage, rent or sublet it. At the end of the period, the lessee becomes the owner of all the improvements and constructions made.
Another form of a real estate purchase
It is about the purchase of rent, a mixture of contracts which are leases and sales. Rent purchase consists of 2 stages: enjoyment and acquisition of property. This option is very interesting for buyers who do not have all the means necessary for immediate purchase.
Supply and demand
When it appears to invest, it is always a good idea to use all precautions to avoid spending in a critical deal. Also, it is better to find the real value of the land before purchasing it. In this article, we give you 6 criteria that will help you evaluate a land before purchasing it.
Land development prospects
By development prospects, we mean what can be achieved on the ground. Urban planning constraints on the height and use of buildings can lead to differences between the value of two sites that nevertheless appear to be identical. In other words, what can be obtained on land?
How to evaluate land in Senegal
Proximity to economic activities
Cities are built through economic activity, therefore, in general, proximity to economic activity is a criterion for the evaluation of land. Identifying future areas of strong future economic activity is a great way to find real estate investment opportunities.
Simple use
Accessibility depends on the size of the road on which the land is located. Thus the land on major roads is more valuable as it is acquired by businesses and businesses seeking visibility favorable to commercial exploitation.
However, the same factor can be a source of noise pollution and traffic jams. Ultimately, the value of the land depends on your project.
Physical Features of the Land (1)
Neighborhood infrastructure is concerned with the quality of cleanliness, roads, schools, parks, restaurants, etc.
None of these are the responsibility of the owner of the infrastructure and yet their development has an impact on the value of their land. This is why real estate is the only investment that is appreciated by the efforts of others.
Therefore, it is important to focus on the development of neighborhood infrastructure to invest or disinvest on time.
Physical properties of land (2)
Physical properties refer to such elements:
– area of land;
– Nature of soil;
– geometric shape.
Some of these criteria are often ignored, although they typically have a major impact on the cost of construction or the efficiency of land use.
Know the complete information about Senegal and check details if you thinking about Buying Land In Senegal at https://sec.gouv.sn/
