Gambia is the smallest country in continental Africa, with an area of only 11,295 km², which is comparable in size to Jamaica and Lebanon. Gambia is interesting because it is located along the Gambia River on the Atlantic Ocean. This ensures an influx of tourists, and where there are tourists, there is demand for real estate. In 2024, real estate sales in Gambia increased by 6.2% thanks to experts and investors from Europe and West Africa.
Benefits of Investing in Gambia Real Estate
The Gambia housing market attracts investors due to low entry barriers – prices start from 12,000 euros for an apartment, which is 3-4 times cheaper than in Senegal or Morocco. Importantly, foreigners can buy housing in the Gambia without restrictions on building ownership.
There are also advantages for investors, as the average occupancy rate for rental housing reaches 85% in the high season (November-April), and rates grow by 5-7% per year. To this can be added the absence of capital gains tax on the sale of real estate for properties owned for more than 5 years.
Real Estate Prices in Gambia
The cost of properties for sale in Gambia depends on two main factors - distance from the coast and type of property. In the first case, everything is extremely simple: the closer to the ocean, the more expensive. In the second case, it is more complicated: the primary market is relatively young and there are not many new projects. The basis of the real estate fund is secondary housing, which accounts for 60% of all real estate transactions in the country.
Average property prices in Gambia:
| Property type |
Average cost (EUR per m²) |
| Apartments in new buildings |
650–1200
|
| Secondary apartments |
250–600
|
| Villas |
750–1400 |
| Commercial properties |
950–1700 |
Popular Locations for Buying Real Estate in Gambia
The country's capital, Banjul, attracts a large number of buyers because it is possible to buy real estate in The Gambia for only 600-1100 euros per m². It is located in the coastal zone, which generally accounts for 80% of all real estate transactions in the country.
The largest share of resale housing is sold in Serekunda - 70% of transactions. It is the largest city with 400,000 inhabitants (250,000 in Banjul), with apartments costing 300-800 euros per m².
Senegambia, on the contrary, is focused on new housing and a tourist cluster, on the local market up to 90% of properties are new buildings in relatively modern complexes. Because of this, prices are much higher - 950-1400 euros per m².
There are also offers in Fajar and Cape Point. But there, developers are more focused on luxury real estate in the premium segment. Apartments from 1,200 euros per m², and villas with pools - 1,000-1,600 euros per m².
Peculiarities of Buying Property in Gambia
Can foreigners buy property in Gambia? Sure, foreigners can buy property in Gambia, the only exception is for land plots - they are only available on a long-term lease for 99 years. It is recommended to cooperate with licensed agents and check the developer through the Gambia Land Registry.
The transaction requires:
- Purchase and sale agreement.
- Certificate of ownership (Title Deed).
- Certificate of absence of encumbrances.
Legal due diligence costs $400–900, registration fee is 2%, and stamp duty is 1% of the property value. Annual residential property tax is 0.8–1.4% of the cadastral value. Remote transactions are possible through a notarized power of attorney (cost: $150–250).
