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What you need to know
Real Estate in The Gambia has been a rapidly growing industry over the past several years. The "discovery" of this beautiful stretch of land nestled within Senegal in West Africa has led to significant investment and the development of new properties. Holiday homes have begun springing up all along the smiling coast. Understanding the market conditions can be difficult if you have not spent a lot of time in the country and are considering purchasing real estate as an investment or more permanent vacation destination.
Gambia Real Estate Development Requirements
If you are purchasing undeveloped land in The Gambia there are often development timeline requirements set forth by the government. It is common that you are required to build at least basic infrastructure such as a well and building or foundation within a 2 year period. Development requirements should be determined before any purchase at a governmental office. If development requirements are not met the land will return to state ownership.
Who owns the land?
Be sure to validate that the person/group you are buying real estate from is the correct owner. Due to development requirements land has often returned to government ownership. The "owner" may often have a valid legal document stating ownership but infact the land is not owned by them. Even without them knowing. It is possible to pay for land from this person or community and later discover that you still do not have ownership.
To ensure a safe and successful step into The Gambia use one of the official, registered Gambia real estate agencies partnered with this website. If you have any questions or concerns feel free to contact us here at Rhythm Ltd. and we will be happy to put you in contact with a reputable agency.
Good luck in the search for your new home!