The Gambia is all set to hit the headlines in the world of real estate investment. Earlier a property destination whose potential was fully comprehended only by a select few, in the recent years the idea of investing in property through a real estate company in the Gambia has caught like wildfire among investors who have real estate in their investment portfolio. There have been several reasons that have served to fuel the growth of the real estate market in the Gambia. In this post, we discussed the top five things that make investing in Gambian property so very lucrative.
Investing in the Real Estate Market – Gambia
1. Governmental Policy and Commitment
The government of Gambia has over the years displayed rare solidarity with the principles of a free market, enterprise, and developing real estate. The atmosphere in this African country is tranquil, and over the course of years, it has firmly established its foothold as a secure investment destination. The laws and conveyancing norms with regards to properties are similar to the system adopted in the United Kingdom. Not only that the country has managed to keep the inflation levels to within single digit, but the country is also encouragingly stable, and crime rates are low. Historically the Gambia was a former British colony and a part of the British empire. It also happens to be one of the safest as well as the smallest countries to be found in the African continent.
2. Exemplary Growth of the Tourism Industry
The Gambia is nor far away than six hours of aerospace time from continental Europe, so the factor of jet lag is quite not there for European holidaymakers. In fact, the tourism sector is one of the fastest growing industries in the Gambian economy as it contributes a whopping 16% of the Gross Domestic Product or GDP of this small country. The number of visitors to the Gambia from distant lands is increasing at a very healthy rate of 18-20% per year. Gambian real estate companies are making the most of the situation and are investing heavily in the development of real estate along the country’s coastline and the villages situated near to them.
3. Plenty of Off-Plan and Existing Property Options
As of now, you have a wide range of off-plan property investment options open to you at the Gambia that too at almost throwaway prices. Besides that, you can also opt to invest in existing properties that are not only inhabitable, but you can also acquire them at a very nominal investment. Some other properties just need a good finish and are waiting for you to pick them up as investment opportunities. In short, Gambia is a potential goldmine for overseas real estate investors.
4. Very Easily Accessible
Without adequate infrastructure, facilitating accessibility to a location, growth of that place is hard to acquire. Gambia is well connected to both continental Europe as well as the USA through direct flights. You can also commute to the Dakar Airport from the Gambia through a flight that lasts for only half an hour’s duration. Dakar has direct flights connecting it to the farthest corners of the world including Toronto, Paris, New York, Dubai, Rio, South East Asia and even the Middle East. The UK is also barely six hours away from the Gambia through the air.
5. The Beautiful Beaches
The Gambian coastline is famed for its beaches of golden sand and the tourist spots and cities at Serrekunda, Bakau and of course, the Gambian capital of Banjul is renowned for the colourful African life they represent and uphold. The upcoming village resort of Brufut just by the ocean especially holds tremendous value as a seaside destination with development work going on of modern housing projects.
A Word of Advice
There are plenty of other factors that make investing in property through a real estate company in the Gambia such an attractive proposition. One word of advice, however, it would be wise on your part to make the most of this investment opportunity at the soonest lest you are left out.