Emerging Property Market Investment: The Gambia Property
Market
The Gambian Property market is currently undergoing a boom
period. As an 'emerging property market' the Gambia ticks
all of the boxes.
Consider the following emerging property market investment
criteria:
Accessibility
As a holiday destination the Gambia has always provided
guarnteed winter sunshine. It is well served by cheap chartered
flights from the UK, Germany, Belgium, Holland, Denmark,
Sweden and Norway all seeking winter sun and relief from
Northern winter climes.
It is a four hour drive to Dakar International Airport,
in neighbouring Senegal which is the international air hub
for this region of West Africa. Direct flights from here
exist to Paris, New York, Torronto, Rio, Dubai, the Middle
East, South East Asia and major African destinations such
Kenya, South Africa and Nigeria.The Gambia is now considered
a world class tourist destination. Forty years ago there
were just two hotels in the Gambia. Now there are several
hundred offering a range from a few pounds to five hundred
pounds a night. Saudi Arabian money is funding the building
of further five star luxury hotel developments along the
coast.
There is a thriving, expanding European ex-pat community
which now enjoys the low cost and high standard of living
here. This ex-pat community creates a market for good quality
rental accommodation. This in turn is driving the investment
market to meet the rapidly increasing demand.
Legal and Civil Infrastructure in The Gambia
Propety ownership is an integral part of the Gambian constitution.
Land and property law in the Gambia is based on the British
legal system and subject to the strict and unequivocal terms
which goven it. This ensures that your property investment
is absolutely secure. All matters are dealt with in English
and many Gambian lawyers have qualified and practiced in
the UK itself. As with all administrative systems minor
inefficiences may exist within Gambian bureaucracy but fees
paid to accredited Gambian lawyers will often speed up the
conveyancing process and dispell any uncertainities regarding
sharp practice, bribery or taxation issues.
As mentioned above all utilities rates and taxes are locally
and centrally fixed and controlled by national companies
and government bodies.
Recent Emerging Market Investments
Billions of delasis have recently been invested in the
Gambia's infrastructure. The Chinese have funded the building
of the International Stadium and Sports Centre at Bakau
which hosts many international conferences, cultural and
sporting events most recently the FIFA's Under 17s Africa
Cup, won in spectacular fashion by the Gambia Baby Scorpians!.The
stadium is now a centre of excellence for young successful
Gambian sportsmen. It is the home of Gambia's Olympic and
Commonwealth Teams creating a focal point for international
football aspirations and a source of footballers recently
graduating to playi in senior level European Leagues such
as Sillah and Ceesay..
The Gambia enjoys close ties with Jamaica and the stadium
is firmly established as a major venue on the reggae and
African music circuit.Anthony B, I-Jahman, Gregory Issacs,
Luciano, and world famous African stars such as Youssou
N'Dour, Baba Mal, Aliou Mbaye Nder. The country's thriving
music scene was recently featured in a week long Radio One
Special hosted by DJs Tim Westwood and Goldfinger.
The Kuwaities have funded the building of the Coastal Road,
Gambia's.main road connecting Banjul, the main tourist areas
and the South of Gambia. This has effectively opened up
the country and has cut many hours from travelling times.
Areas previuosly accessible only to four wheel drives are
now readily reached. In this, Africa's most densely populated
country, this road has provided a gateway for the population
to to escape from overcrowding in the urban areas of Serrukunda
and Banjul. Tourist development has quickly followed with
five star hotels being built in Brufut and many eco-lodges
and small scale tourist ventures are springing up further
south. Land that was previously worthless due to inaccessibility
is now rapidly increasing in value. Away from the coast
the road has led to a farming boom in southern Gambia providing
exotic fruit and vegetables for European supermarkets, local
luxury hotels and restaurants.
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