Investment in the real estate market - The Gambia
Investment in the real estate market - The Gambia

Investment in the real estate market – The Gambia

Investment in the real estate market – The Gambia: The Gambia is all set to make headlines in the real estate investment world. Previously a property destination whose potential was understood only by a select few, in recent years the idea of ​​investing in property through a real estate company in The Gambia has caught on like wildfire among investors.

There is real estate in the investment portfolio. There are many reasons to promote the development of the real estate market in The Gambia.

Government policy and commitment

The Gambia government has over the years proved rare solidarity with the laws of a free market, enterprise, and developing real estate. The environment in this African country is calm, and over the years it has built its niche as a safe investment destination. Laws and convection norms about property are similar to the system adopted in the United Kingdom. Not only has the country managed to keep inflation levels within single digits, but the country is enthusiastically stable, and crime rates are low.

Historically, the Gambia was a previous British colony and a part of the British Empire. It is one of the most reliable and smallest countries to be found in the African continent.

Exemplary development of tourism industry

The Gambia is not far from continental Europe with an aerospace time of more than six hours, so the jet lag factor is not at all responsible for European holidays. The tourism sector is one of the fastest-growing industries in the Gambian economy as it contributes 16% to the GDP or GDP of this small country.

The number of tourists visiting the Gambia from far-off countries is increasing at a healthy rate of 14–20% per year. Gambian real estate companies are making the most of the situation and are investing heavily in real estate development along the country’s coastline and the villages located near them.

Lots of off-plan and existing property options

As of now, you have a wide variety of off-plan property investment options open in the Gambia at almost low prices. Apart from this, you can also choose to invest in existing properties that are not only livable but can also be acquired on very nominal investments. Some other properties simply require a good finish and are waiting for you to take them as investment opportunities. In short, The Gambia is a potential gold mine for foreign real estate investors.

Very easily accessible

It is difficult to achieve the development of that place without adequate infrastructure and access to a place. The Gambia is well connected to both continental Europe and the United States via direct flights. You can travel from the Gambia to Dakar Airport via a flight of only half an hour. Dakar has direct flights that connect it to the farthest corners of the world, including Toronto, Paris, New York, Dubai, Rio, Southeast Asia, and even the Middle East. Britain is also barely six hours from the Gambia by air.

Beautiful beach

Gambian beach is famous for its beaches of golden sand and the tourist spots and cities of Serekunda, Bacau and of course, the Gambian capital of Banjul is famous for the colorful African life that they represent and maintain. The upcoming village resort of Brought, located along the seaside, holds tremendous value as a seaside destination with development works specifically for modern housing projects.

Can a foreigner buy a piece of land or property in the Gambia?

Immigrants can purchase or lease a private property or state-owned property in The Gambia and do not need formal approval to purchase land or property in The Gambia. There is no restriction on the form of legal ownership of property by a foreigner in The Gambia. No special rules apply to foreigners investing, developing, or constructing residential, commercial, industrial, or agricultural land and properties in The Gambia.

Most estate agents are, of course, honest, but however honest and helpful they may be, you should remember that they are paid only when the property is sold and they give you independent legal advice. Give. two. two. two. two. two. two. two. Are not able to give

Once you find a property you want to buy, you will almost certainly be asked to sign a reservation or initial purchase contract of some sort. Unless it is investigated by your lawyer, it is better not to sign anything. We can do this very quickly.

Is it complicated to buy a plot of land or a house in the Gambia?

Unfortunately, often people buying property or land in the Gambia receive little or no legal advice and are very “informal” about the purchase and signature of legal documents. This can change badly if foreign property buyers go about things this way. They find that the property has no title or that it was built without planning permission… or that it does not even exist! Do not do this. For your safety, insist on seeking appropriate, independent, legal advice.

What does a property lawyer do?

In most countries of the world, the lawyer plays a major role in the process of buying and selling land and property. The lawyer has to manage the sale and register formal documents recording the sale or purchase, which will be signed in their presence and understood by the parties concerned.

Does the Gambia have a land registry system?

The property transaction and transfer process in the Gambia is transparent and there is no need to worry when buying land or property at home. After the final purchase contract/sale deed is signed, the notary will register it in the appropriate land registry and arrange for payment or any land registry fee.

Do you have to live in the Gambia to complete property transactions?

Sellers and land or property buyers are usually required to be present in-person to sign the final purchase contract and the deed of sale. However, if it is inconvenient, a power of attorney can be arranged so that another person can appear on their behalf.

We can arrange to have it prepared and it can almost always be signed where you live. We recommend that you give a power of attorney, even if you would like to attend in person.

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