Find the latest homes to sell in Senegal

Senegal's capital, Dakar, is amid a property boom. Luxury villas, hotels and shopping centres have sprung up in the country in recent years, more particularly in Dakar's coast. From 1994 and 2010, Dakar property prices surged by about 256%, according to Senegal National Statistics Agency. Dakar's property market is a favoured investment for regional elites because it is considered as a safe haven in turbulent Western Africa. Also, Dakar is a peninsula, it really is widely recognized all around the world that where space is fixed, prices tend to rise.

Dakar continues to see double-digit boosts in property prices lately. The major drivers are sharp inhabitant’s development. Dakar's increasing inhabitants is mainly fuelled by migrants from rural Senegal and neighbouring countries. Presently, the United States has around three million people. 

Belle maison a vendre au Senegal - High-end property customers from countries like Nigeria have increasingly seen Dakar, situated on a peninsula that is Africa's westernmost point, as a trusted market for second homes, Moreover, the wide-spread money laundering in the country is also driving the property market.

Foreigners can own property in Senegal. A note of caution: getting money out of Senegal can be difficult. Officially the Investment Code stipulates free transfer of capital. But in reality transfers to countries other than members of the West African Economic and Monetary Union are still subject to numerous requirements, controls, and authorizations. Also, opening a foreign exchange account requires approval of both the Central Lender and government.

It's also a good idea to be familiar with any current real property interest on the house, that is mortgage, easement, lease, etc. This record can be acquired at the Land Conservation Office from your notary or by you individually. Furthermore, inquire about the property's current position, whether it's free on the market or occupied. In the event it is occupied, feel absolve to demand a duplicate of the existing and previous rent record and or any proof or payment. Having an idea about the average rent prices applied in the neighborhood should also enlighten you.

Make sure to inquire why the owner intends to sell his property and if he has already reimbursed the guarantee payment to the tenants before they vacate the property.

Tax

Finally, you should be aware of the property's tax situation. In fact, tax and associated fees which have not been settled by the dog owner may lead to the suspension system of the contract sale. Not executing this task could lead to getting swindled with a crook.

Becoming an owner

Becoming an owner in Senegal suggests obtaining a lengthy leasehold. Actually, the land you are purchasing is improbable to be your exclusive property. You are rather certified by the Condition to utilize it.

Once you have understood all the above-mentioned implications, you can sign the sale agreement before a notary. You are not required to pay any amount at that point of time, except some 40,000 representing transaction fees.

If you have sufficient funds to conclude the purchase, you can then sign the final sales agreement before the notary. The notary will play the intermediate role between you and the owner.