Buying property in the Gambia: Property purchase costs, fees, taxes

All property transactions in the Gambia are currently cash sales. Mortgages are not available for properties in the Gambia.

It is important to be aware buying a property in a foreign country can be complicated but if you have the knowledge, contacts and experience it is straightforward. It is our job to make it all as simple as possible for you

In order to take advantage of the best opportunities and put an offer in, we suggest you have available around 5% of the value of property in your chosen price range readily accessible within 24 hours to avoid disappointment.

As a general rule, the expenses involved to buy a property in the Gambia are a lot lower than in other European countries

• A small fee for a visit from the Physical Planning Department and the production of a scale drawing

• Up to 10% of the purchase price is paid to the solicitor for the preparation of the the Leasehold Title documents to include the Conveyance, Assignment and Leasehold Certificate.

• Alkalo's Payment for the Alkalo's stamp, Chief's Payment for the Chief's Stamp, Chairmain's Payment for the Chairman's stamp, and Council's payment for Council's stamp and application. These payments are all very small and tokens of goodwill.

• Land Registry Tax - Stamp Duty 5% of the purchase price is paid by the Purchaser

• Capital Gains Tax at 15% of the purchase price is paid by the Seller

Once all the above paperwork has been completed and all taxes paid by both parties then the Certificate of Occupancy is obtained and with with it the permission to develop. The caveat emptor applies to any building works, including the perimeter fencing, erected before ALL the paperwork and taxes have been completed. In this instance the Buyer is liable to forfeit all construction works and monies invested in any development of the land.