Land & Property Purchase Costs, Fees & Taxes
The purchase price of the property or land as with most conveyancing transactions is dependent upon many factors, the most prevalent being location, size and quality of the property/land being tendered.
There are yearly payments due both for land rent and local rates. Land rent is a minimal sum which is indicated on the lease document
Other Costs Involved in Gambian Property Purchase
As with most conveyancing transactions the purchase price is dependent upon a number of factors predominantly location, size and quality of the property/land being tendered.
There are annual payments for land rent and local taxes to be made. The land rent is a minimal fee and indicated on the lease document where the property is purchased as leasehold land.
Local rates are based on the rateable value of the land assessed by the Tax Office. The rateable value accounts for both the land and building value dependent upon type, location and use class. When this value is decided the Area Council determines the percentage to be charged for local rates. These rates are also minimal.
Gambian Taxes Involved in Land/Property Purchase
- Alkali Tax
- Municipal Tax
- Income Tax
General Summary of Fee Structure
- Total official costs involved in purchasing property should be around 1%.
- Lawyer’s fees – approx.10% of the selling price (dependant upon the solicitor’s set fees).
- Agents are paid by the seller unless otherwise agreed (approx. up to 10% of the purchase price)
Gambian Buildings Insurance
Building insurance is available and is recommended. Please contact us where necessary for further details.
Utilities Billing in Gambia
Electricity is billed on a monthly basis with a minimum standing charge regardless of occupancy based on the electrical capacity of the property. Actual units of electricity used are paid on top of this standing charge. There are prepaid electricity meters available – Cash Power – where preferred.
Telephone access is provided by Gamtel (the equivalent of BT in the UK). They bill on a montly basis.
Mobile access is provided by Africel and Gamcel, Comiun . These only operate through the purchase of sim cards and top-up credit cards which are widely available. There is little to choose between these providers on pricing or reliability.
The internet is provided by both Quantum who offer Broadband
Satelite TV is available with widely varying packages. Expect to pay equipment, installation and set up fees together with a monthly standing charge.
Other Useful Information
High calibre maids, gardeners and security staff are readily available, many with extensive experience gained in the luxury Gamban hotels. There are many European, Gambian and Arabic property maintenance firms with cost and quality varying considerably. We can provide suitable companies including references where necessary.