Can property still offer a good return on investment? Of course, says Mr Mustapha Njie, CEO of Taf Holdings Ltd and one of The Gambia's leading entrepreneurs. While property markets in Europe and the USA are stagnating, new, emerging markets such as The Gambia are catching the eye of shrewd property investors.
Mustapha Njie explains: "The Gambia ticks all the boxes for an exciting emerging property market. We have a stable government that is constantly investing in infrastructure such as roads, electricity and water, and is keen to encourage overseas investment. We have a low crime rate, a growing economy and a thriving tourist industry. As a result, property prices have been steadily increasing for the past few years and The Gambia has become an investment haven."
One of the most important things to consider when buying property overseas is the property laws and regulations that will be applied. Unlike many other countries, it is relatively straightforward to buy and sell property in The Gambia. Mustapha Njie continues: "The property conveyancing laws in The Gambia are based on the British legal system. And, of course, our official language is English, and so property investors from the UK will find it much easier to communicate with Gambian solicitors than, for example, if they were buying property in Spain."
One of the most successful recent property developments in The Gambia is Brufut Gardens, with over five hundred properties. It occupies a choice position just ten minutes from the airport, overlooking the beautiful Brufut Heights beach. Brufut Gardens is so popular that the developer is constructing an exclusive shopping mall and leisure complex, due to be opened in 2012. Find out more at www.tafgambianproperty.com.